Waiting for a mortgage decision from Natwest. Anyone else?

FISH

We are also waiting on a decision from Nat West. Paperwork submitted on Friday and Direct Debit Mandate submitted on Monday. How long does it normally take to get a yay or nay?

mane1034

I called this morning to get update I was told your case is with underwriter and update should be there for you end of the day...

Then I called 6:00pm and I was told it is still with under writer and suggested to call tomorrow.

Malmo

Malmo wrote: »

Our Natwest timeline so far is as follows. Seems to be in line with others applying to Natwest.

16-JUN - AIP obtained from Natwest
17-JUN - 1st viewing
20-JUN - 2nd viewing
22-JUN - Offer made and accepted below asking price following a couple of rounds of negotiation
24-JUN - Full mortgage application submitted to Natwest
08-JUL - Valuation & survey booked in for 15-JUL

Our broker updated us that the valuation and survey was completed yesterday as scheduled but nothing has been uploaded to Natwest's system yet (this normally takes 24-48hrs after valuation). Once the valuation is uploaded, Natwest are working to a 4 day turnaround for assessing the results of the valuation before making the offer, so hopefully will hear something next Tuesday or Wednesday.

MNM2903

Okay so our broker confirmed the mortgage offer had been submitted to halifax. The goalposts changed slightly as the discussion we had with him was based on 5% deposit and he came back before submitting it advising that it could only be accepted at 8% meaning we needed an extra £3,331 but after speaking to bellway they and the broker have said we can exchange at 5% and pay the remainder on completion in March.

Is this normal?

My other question is weve recieved a message from RSC advising that "your income has now been verefied and the only outstanding requirement by halifax is the valuation to be booked in"

Does this mean everythings accepted if the valuation comes back okay? or do they still need to do other checks etc?

superbabe612

Do you think a mortgage application through a broker is quicker than going direct to NatWest?

I couldn't use my broker because I'm porting a fixed product to my new house - I applied by phone on 23rd June, took my documentation into my local Nat West branch on 25th June... and I'm still waiting for the survey to be arranged! I've emailed the Nat West mortgage adviser every week - last week he said the underwriters had 'system issues' which had held my application up but that there was no problem. He'd originally told me the underwriting would take 5 days, the valuation 7-10, and whole process would take between 4-6 weeks. He never mentioned a backlog!

Yesterday I phoned up because he didn't reply to my latest email, and I was told that the underwriters passed my application back to the advisor on 7th July - but the advisor never mentioned this! I was also told yesterday that I would receive a call back from the underwriter or the advisor within 24 hours - which ends in 20 minutes!

In the meantime I've wasted 3 weeks waiting and according to this thread Nat West are facing a backlog and aren't very efficient anyway! Last time (through a broker) the valuation was arranged for the 4th day after applying and I got an offer on the 5th day!

I'm seriously considering going back to my broker and applying with another lender, even though I'll have to pay an early redemption charge.

Sauvignon_Blanc

Our full application went in on 23rd June and our valuation took place on Friday (10th July). The underwriter had the valuation report on Monday and we are now awaiting our offer (should be tomorrow or early next week).

From reading posts on here I gather that you need to keep phoning them or they tend to
Let it drift.

GoldenShadow

Our broker is very busy at the mo so I got the details and rang Natwest today as I am very impatient/nervous re valuation!

The house is on a road which is/was council. 70% are now privately owned, but the last one down that road to sell was March 2013 and on any of the other nearby roads the houses are quite different so less easy to compare, and again, still quite rare they go up for sale. So I was a bit tetchy about how the valuation would go.

Our valuation was Thursday, and the chap said it has not been to the underwriters yet (report was with them on Fri) but from looking at it, it was valued at what we offered with no conditions etc, so fingers crossed we should be OK

Homebuyers report is booked for Tues and I can cancel it on Monday and not pay but I feel much better about it now.

GoldenShadow

We've had a slight delay due to paperwork. DDM was for 1st of the month but apparently two members of staff failed to log it and so our offer hasn't been issued and posted as a result, but it should be sent out ASAP

Sauvignon_Blanc

I had a call from broker on Thursday evening saying that offer had been sent. I'm still waiting. Fingers crossed for tomorrow's post.

mrstick

Well, all being well we'll be finally completing on our remortgage tomorrow. Hope it all goes to plan as I'll be wandering around Legoland unable to do anything about it!