Waiting for a mortgage decision from Natwest. Anyone else?

Sauvignon_Blanc

Our broker advised that our application was submitted yesterday. We have received an e-mail this afternoon saying Natwest have requested a signed direct debit mandate to enable them to proceed to valuation.

The waiting begins. I feel so nervous.

Is anyone else awaiting a decision from Natwest?

ACG

Should have requested a DD mandate and a declaration form?
http://intermediary.natwest.com/Downloads/natwest/SampleCustSig_New.pdf?v2

Standard practice so far.

Its taking them about 4-5 working days to assess everything.

carguy143

It took about 2 weeks or so for NatWest to instruct a surveyor for me. It then took them a further two weeks to get their mortgage offer to me. I believe they're facing a huge backlog at the minute.

Good luck with your quest.

Rik.

Sauvignon_Blanc

Yes, sorry and a declaration form. Thanks for your replies, I was wondering what the current timescales were.

roje

Mine also went in yesterday via the broker, complete with signed DD mandate. I am really, really nervous. I think I might be quite tight on affordability as they are also using my tax credits but I still don't have an award through for this year despite chasing them (wrong time of year for tax credits). Broker has sent bank statements evidencing it for now. I just keep thinking of all the things that can go wrong, it's a nerve wracking game if you're borderline, although I only want 44% LTV which is quite good I believe?

Sauvignon_Blanc

We were completely surprised to even be offered an AIP to be honest. We are applying for a 95% help to buy mortgage and we also have some debt. I won't be surprised if we don't pass the underwriting stage, although they are aware of everything.

roje

Well, they must be lending to someone. I was also surprised to be considered as I am on my own with 4 dependants. I called the broker half expecting him to say he could only get me £60k, or even nothing at all. It's a waiting game now. Just hope there are other options if I don't get past underwriting stage. Good luck!

Sauvignon_Blanc

Good luck roje. I really hope it goes well for you.

Funder

We submitted full application via a broker on the 11th June and they took valuation and survey fee yesterday. With Natwest that means it has been approved by underwriters subject to satisfactory valuation. So just under 2 weeks so far.

Worth noting that they never came back requesting additional information which can delays things quite a lot.

toddler9

carguy143 wrote: »

It took about 2 weeks or so for NatWest to instruct a surveyor for me. It then took them a further two weeks to get their mortgage offer to me. I believe they're facing a huge backlog at the minute.

Good luck with your quest.

Rik.

Exactly the same for us - 2 weeks from application to valuation and have been waiting a further 2 weeks for the offer even though they have said it's all signed off & "on its way". Really I've found calling them every few days is the only way to push each stage. They said they have been very busy recently

roje

Do Natwest approve more mortgages than other banks, ie. do they actually have an excuse to be so much busier than everyone else? or is it poor organisation?