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Quality review on application - Natwest

Hi all,

Has anyone ever had experience with this:
Applied for mortgage (FTB through broker) with Natwest and got approved subject to valuation. Valuation happened on 8th of May 2019 and as the offer still didn't come I asked my broker to chase and he just told me my case has been passed on to head office for a quality review. Apparently it happens to 5% of cases, they just pick applications randomly for quality review.
My questions are: How worrying is that? What did they check exactly? How long will it take after the outcome is provided to receive the offer?
Any experience with this greatly appreciated, I am so so nervous...
Thanks in advance

Comments

  • ACG
    ACG Posts: 24,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    It is frustrating when a case goes for audit with Natwest as nobody tells you until you ask.

    We have had 2 in 6-7 years, I am not sure I would agree with 5% but who knows, I may end up with my next 3 cases being audited. Both audits went through fine. We send all sorts of complicated cases to Natwest, if they pass DIP in our experience they get accepted.

    I have had one case in 6-7 years where the loan amount was altered. I still dispute that one but it was about £3k and the customer had it so was not too bothered.

    I do not know your case, but I am fairly confident you will be fine.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Judzzy
    Judzzy Posts: 29 Forumite
    Second Anniversary
    Oh wow that's not a lot in 7 years! I know that the valuation was ok and they have only asked for a clearer scan of my payslips since then, so I am just wondering what else could they be checking? And how long after the outcome do people get their offer?
    Thank you anyway for your response and I hope you are right!
  • amnblog
    amnblog Posts: 12,766 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    All Lenders do something in this manner but Nat West seem to be getting a bit busy in this area currently. Our latest one was post offer.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Judzzy
    Judzzy Posts: 29 Forumite
    Second Anniversary
    Hi Amnblog, thanks for your response. Post offer? I would be interested to hear about your experience, how long after the outcome did they release funds?
  • Hi @Judzzy
    I had similar case like you. It's been 5 weeks since I have submitted my full documents as FTB with Natwest. My broker said its with Quality review team now and not sure when they gonna come to us. Could you please let know how did your application went with them ? Did you get approved ?
  • MovingForwards
    MovingForwards Posts: 17,164 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    vikas2020 said:
    Hi @Judzzy
    I had similar case like you. It's been 5 weeks since I have submitted my full documents as FTB with Natwest. My broker said its with Quality review team now and not sure when they gonna come to us. Could you please let know how did your application went with them ? Did you get approved ?

    S/he hasn't been back since November, judging by other posts it looks like they changed lender.
    Mortgage started 2020, aiming to clear 31/12/2029.
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