Natwest full application time scale

mplunk

Well we had our valuation last Tuesday. And still no news. Not only this, the bank doesn't even have the report yet. So sloooow

Vok_2

24/02/15 - Found Mortgage Advisor (MA)
27/02/15 - Meet with MA to discuss my options
04/03/15 - Applied and got AIP (Virgin Money)
07/03/15 - Viewed property
10/03/15 - Made an offer on property £10k below asking price
11/03/15 - Offer accept
12/03/15 - Instructed Solicitor
13/03/15 - Paid for searches (I don't think I should have so am calling them later today to put a hold on the searches until I instruct them to)
13/03/15 - Received Sales memorandum from EA
16/03/15 - Met with MA to do the full mortgage application with Virgin Money
20/03/15 - Called Virgin to find out progress only to find out application has been declined.
20/03/15 - MA tried different lenders for an AIP. Halifax said yes but with 15% deposit (don't have enough money); Aldermore said yes but interest rate was sky high; Skpiton said no; then tried Leeds but could get answer until next working day
23/03/15 - Leeds came back with a no
23/03/15 - MA tried Natwest for an AIP and they said yes. Submitted full application to Natwest
25/03/15 - MA faxed all the required documents to Natwest as they don't accept scanned documents
28/03/15 - Called Netwest directly to get some process and they said its with the underwriters but its looking good so far.

Am keeping everything crossed and praying to God that it goes well with Natwest. Honestly, this whole process is not good for one's heart, it is extremely stressful and annoying at times.

c.redfern

Signing the contracts today. Nat West have been really good. Our solicitor needed the mortgage offer ASAP so they faxed it over to him as well as posting a copy so he could get done what he needed to
Should find out today if we can move on the 10th April or 20th April. The vendors go on holiday on the 12th so if we haven't completed for the 10th we have to wait until there back

mrbendy

Congrats c.redfern- hopefully you can get sorted before they go on hol. I agree- Natwest have been pretty efficient throughout the process. 3 weeks and 3 days from application to receipt of mortgage offer in the post- I think that is pretty reasonable. No complaints whatsoever. I am just waiting for a completion date for my remortgage- should get that today or tomorrow.:)

lizards

Brilliant, well done! I hope the issues mentioned on your other thread can be sorted without too much fuss.

It's been three weeks today since we put in our full application and the house is due to be valued tomorrow. Due to Easter getting in the way, apparently we are unlikely to get an offer in the post until the end of next week, so not quite so fast for us. Nothing untoward holding things up either, other than a query about income which was sorted in a day or so. Looks like our application to offer (assuming no complications) will be more like a month. Ah well, we can't complete before mid May anyway so it doesn't really matter :-)

SheffDan1867

SheffDan1867 wrote: »

21st March - Had full mortgage application meeting (took 4 hours!)

23rd March - Noticed full credit search on Experian

25th March - Had the application to sign

26th March - Sent signed documents, statements and pay slips via Natwest branch

Anyone know how long internal mail takes for Natwest?

30/03 - Natwest have now asked for valuation / survey payment.


Does that pretty much mean that we're approved for the mortgage, in terms of our finances and credit checks?

Vok_2

Vok wrote: »

24/02/15 - Found Mortgage Advisor (MA)
27/02/15 - Meet with MA to discuss my options
04/03/15 - Applied and got AIP (Virgin Money)
07/03/15 - Viewed property
10/03/15 - Made an offer on property £10k below asking price
11/03/15 - Offer accept
12/03/15 - Instructed Solicitor
13/03/15 - Paid for searches (I don't think I should have so am calling them later today to put a hold on the searches until I instruct them to)
13/03/15 - Received Sales memorandum from EA
16/03/15 - Met with MA to do the full mortgage application with Virgin Money
20/03/15 - Called Virgin to find out progress only to find out application has been declined.
20/03/15 - MA tried different lenders for an AIP. Halifax said yes but with 15% deposit (don't have enough money); Aldermore said yes but interest rate was sky high; Skpiton said no; then tried Leeds but could get answer until next working day
23/03/15 - Leeds came back with a no
23/03/15 - MA tried Natwest for an AIP and they said yes. Submitted full application to Natwest
25/03/15 - MA faxed all the required documents to Natwest as they don't accept scanned documents
28/03/15 - Called Netwest directly to get some process and they said its with the underwriters but its looking good so far.

Am keeping everything crossed and praying to God that it goes well with Natwest. Honestly, this whole process is not good for one's heart, it is extremely stressful and annoying at times.

Still nothing from Natwest. Gosh, all this waiting is giving my serious anxiety; it cant be good for one's health :sad:

mplunk

We don't have anything either... Not doing my blood pressure any good. Valuation was on the 24th. Called them and they said valuation came back today and is due to be assessed on Wednesday. The full application was submitted on the 9th of March, so that's 3 weeks now.

Timbosaurus

Bit of a non-update from my end. I gave my broker the go-ahead for NatWest to instruct a survey but hold any offer subject to me proving I had reduced my credit card balance (this was on Wednesday, full app initially went in on the 10th).

Chased broker today, as still no survey and money hasn't come out of my account. Told NatWest are swamped at present and she has a few cases with them pending. I know it's only been three weeks so far but every day feels like an eternity when you're going through this!

WillyWonga

My Natwest app took about 5 weeks, everytime my phone had a message or a call I looked at it cautiously.

With the backlog everytime they asked for a new doc it went to the bottom of the pile so took a couple of days to look at. It eventually went to a seperate underwriter for final approval then the survey money came out of the account. Then took a couple of days for an offer.

When the money comes out the chances are high... good luck