Natwest - awaiting survey to be carried out

bell

Obviously I appreciate the current climate surrounding Covid 19, but just looking for insights and assurance. 

My situation:
Applied for a mortgage with Natwest, got mortgage offer, sale fell through, found new property, resubmitted and passed underwriting, paid for new valuation survey... Nobody has even contacted the vendor yet. 

That was a week ago and as we all know a lot has happened since then. Anybody brokers or buyers gone through a natwest application recently. Are they still sending people into homes?  Moving to drive by valuations?

My broker says she is finding it difficult get through at all 

Thrugelmir

In the current climate a day or two is probably of no consequence. The complete ambivalence towards the crisis suggests that a period of lockdown is inevitable. 
Lenders will be inundated with requests of financial assistance. Creating unnecessary work helps no one. 

bell

Yeah I do appreciate that banks will be under massive strain and things will inevitably delayed.

My main worry is that we go to full lockdown before I move, thereby pushing the completion back months or crashing the whole chain. 

Thrugelmir

bell said:

Yeah I do appreciate that banks will be under massive strain and things will inevitably delayed.

My main worry is that we go to full lockdown before I move, thereby pushing the completion back months or crashing the whole chain. 

How long is the chain? 

bell

First time buyer, us, seller (no forward chain as buying inherited property from family). Simple chain but nothing simple at the moment 🙈

Thrugelmir

Even if there's delays at least there's some certainty that the chain will complete. I'm sure the vendors will be understanding with you. The mortgage is the straightforward part. You've some weeks ahead yet while the searches, enquiries and legal aspects are performed. . 

ACG

Natwest are massively behind, they have been moving their staff to work externally and we (brokers) have been not to contact them until we are outside their service standard which have slipped from the usually 2 working days to around 6 days. 

I 100% understand your position, I have many customers in the same boat and trying to deal with lenders at the minute is a nightmare. I have one account manager who is working from home on his mobile. You have to leave him a message on his work number which he checks in on when he can and then calls people back. I cant imagine working with such a poor system but I know he is doing what he can and he is starting early and finishing late. 

It shouldnt get missed, it is just taking them an age.  We had a valuation booked in on Saturday for an application that was submitted on the 16th. So that is 6 days.

bell

ACG said:

Natwest are massively behind, they have been moving their staff to work externally and we (brokers) have been not to contact them until we are outside their service standard which have slipped from the usually 2 working days to around 6 days. 

I 100% understand your position, I have many customers in the same boat and trying to deal with lenders at the minute is a nightmare. I have one account manager who is working from home on his mobile. You have to leave him a message on his work number which he checks in on when he can and then calls people back. I cant imagine working with such a poor system but I know he is doing what he can and he is starting early and finishing late. 

It shouldnt get missed, it is just taking them an age.  We had a valuation booked in on Saturday for an application that was submitted on the 16th. So that is 6 days.

Good to know. Payment was taken on the 17th so hopefully it'll reach the top of someone pile soon. How are they for offers, we talking 6 more days after valuation? (underwriting is done) 

bell

Thrugelmir said:

Even if there's delays at least there's some certainty that the chain will complete. I'm sure the vendors will be understanding with you. The mortgage is the straightforward part. You've some weeks ahead yet while the searches, enquiries and legal aspects are performed. . 

Some of the lefal stuff is under way. Draft contracts going out so searches can start this week. 

ACG

bell said:

ACG said:

Natwest are massively behind, they have been moving their staff to work externally and we (brokers) have been not to contact them until we are outside their service standard which have slipped from the usually 2 working days to around 6 days. 

I 100% understand your position, I have many customers in the same boat and trying to deal with lenders at the minute is a nightmare. I have one account manager who is working from home on his mobile. You have to leave him a message on his work number which he checks in on when he can and then calls people back. I cant imagine working with such a poor system but I know he is doing what he can and he is starting early and finishing late. 

It shouldnt get missed, it is just taking them an age.  We had a valuation booked in on Saturday for an application that was submitted on the 16th. So that is 6 days.

Good to know. Payment was taken on the 17th so hopefully it'll reach the top of someone pile soon. How are they for offers, we talking 6 more days after valuation? (underwriting is done) 

I think so, but I think those 6 days will start to drop. There are less applications going in and staff may be doing overtime. 
Difficult to say at the minute what is happening.

EverythingIWant

I have still got a valuation with NatWest going ahead tomorrow - even though the mortgage has now be declined. Surveyor still says they are coming out tomorrow.. weird. Luckily I’m not paying for it.