Natwest giving us the run a round

DavidKP

Hi

We have applied for a mortgage with Natwest thru a broker. We have had Agreement in Principle sorted and also had money taken for a valuation. still waiting for the valuation to take place coming up to 2 weeks now. Is there any other checks that they will do and what is the turn around. We was told by the broker that all credit checks were done before the Agreement in principle was done. We are borrowing 99k and putting down 11k deposit.

Extremely nervous as time goes on!!

David_White

What's your broker saying?

Has there been any further queries or requests for documents during that period?

DavidKP

All he has said that he is waiting on natwest to back to him with the valuation and then take it from there. They did request a copy of my wife contract which was sent them.

csgohan4

turn around time varies, but if they requested additional info, it may take addition -14 days from when you submit for a response from the underwriters.

DavidKP

So when it goes to the underwriters what does that mean? sorry for the blunt question but im new to all this.

csgohan4

if extra documents were requested, someone physically is looking at it rather than a simple computer say so.

DavidKP

Still no word on the valuation. just checked my account and the money has not been taken yet. what could be the issue? help please.

csgohan4

you need to get your broker to chase what's going on, that's what your paying or employing them to do.

Did you get your broker from an estate agent?

DavidKP

csgohan4 wrote: »

you need to get your broker to chase what's going on, that's what your paying or employing them to do.

Did you get your broker from an estate agent?

I spoke to the broker he said all the information is passed to the office and he will find out what is happening and get back to me.

Nope didnt get it from the estate agent a family friend of ours have used the same one before in the past so just using him.

ACG

Credit checks are done when the AIP is done, so there is no issue there.
If it has been 2 weeks since the application was submitted then your paperwork will have been assessed, so again, no issue there.
It is just the valuation and natwest farm that out to (I think) countrywide. It is not really natwest giving you the run around, but I understand the frustration. Assuming that comes back ok, it sounds very much like your mortgage will be issued.

Your broker could do with calling his/her natwest account manager to get them to chase it.

westv

A plague on the house of Natwest.
I lost a sale on a freehold flat because the valuer used by Natwest gave a "nil" valuation despite another valuer used by Natwest giving the go ahead for an identical flat in the same block in 2015.