Mortgage with Natwest through a broker

Carptackle89

Hi all,

Hope this is ok, just looking for a bit of clarification.
Our mortgage broker called last friday to say our mortgage application had passed the credit checks, he will be sending us our mortgage illustration to check over, then he will be passing all our bank statements and wage slips over to natwest to check. What is the next stage? Has anyone else had a mortgage from natwest who went through/are going through the same?

Thanks in advance :j

YHM

I'd be so disappointed if any of my clients asked a forum a question, when they could just ask me directly....

It sounds like he submitted your full application, so your valuation will have been instructed and once your evidential documents have been assessed and accepted, then the mortgage is approved...

ACG

Once they have the docs, they will assess them.
Once happy they will instruct the valuation.

(You could ask your broker about this, that is part of their job).

kingstreet

You get your illustration after the application is submitted and approved?

So how could you make an informed choice that this mortgage suited you?

The process should be;-

illustration
agreement in principle
property details
illustration
application
upload documentation
provide documentation to applicant (inc app form)
valuation and/or case agreed (varies from lender to lender)
offer.

Carptackle89

I have emailed but he seems busy advising me he has appointments all day and will get back to me as soon as. He advised that if they are happy with our documents i will need to pay for the valuation which is £250. So im not sure if we are that far gone yet.

Thank you for your response i appreciate it

ACG

Sounds like your application has not been submitted yet as your card details are needed in order to submit the application. They do not take the money at that stage, but I do not think you can complete the application without providing card details.

Carptackle89

Im just a major worrier, ive read alot of pros and cons with natwest one being they take an age and 2 that there surveyors under value 75% of the time... i suppose i just need to sit and wait.. thanks for all your responses x

ACG

one being they take an age

2 days to assess paperwork usually, 3 days max at the minute.

and 2 that there surveyors under value 75% of the time

We use them maybe twice a month. I honestly can not remember the last down valuation. In fact I do remember submitting a case to nationwide late last year who down valued the property, we sent it to natwest and it came back fine.

Dont believe everything you read on the internet.

Carptackle89

You are amazing thank you. My broker has just emailed me to say he will be calling tomorrow to take the survey fee.. is this normal.. thank you again you are a huge help

ACG

It does mean your application has not been submitted yet by the sounds of it. So your application will be going in tomorrow, if it is done early enough you should hear by the weekend. If not, it might be monday.

Carptackle89

Im so sorry for all the questions, this is all new to me and i feel as though im harrassing my broker with a million questions. He told me that natwest had agreed our mortgage based on our credit score so this is basically just another MIP. Again sorry for all the questions.. i feel like i should be paying you