Natwest Self employed??

330d

Is anyone who is self employed in the middle of an application with Natwest at the moment? 

If so, how is the progress? Ours is 4 weeks in and very little progress. MA has said Natwest are being very strict and difficult with all self employed applications.

anonymouse2202

Yeah ours is taking quite a while as well- I was told this morning that nothing is likely to happen for at least the next week as it’s queued for the underwriters. 

Our application went in on the 3rd July, but was a resubmission because our broker messed up first time round. NatWest already have all the right documents including valuation, so just needs to be seen by the underwriter. I’m expecting quite a bit of a wait (on top of the 7 weeks that got wasted first time round!). 

How far in are you?

330d

We are 1 month in and there have been several rounds of them asking for more documents. Last time round they were looking at every transaction on the business accounts and questioning it. 

anonymouse2202

Wow that's intense. We haven't got to that stage yet, think we are waiting to be allocated to an underwriter- hopefully the fact that they are looking at yours so closely means they will offer soon!

Liamo3

Mine was just over 2 weeks 11th June to 29th I was told the same because I'm self employed it went under a more intense underwriting. Was well prepared the only question they asked was what I did for a living and how long have I been doing it.

330d

Thats positive. Our's is taking an age. Over a month in and still in progress.

On a side note, how up to date is the Natwest tracker? Or is it hrs/days behind?

330d

Any more views on this?

330d

Also forgot to mention, the valuation has happened and was ok. It took place a week after I applied.

I thought the valuation happens after the mortgage offer?

Kiwistrawb1990

330d said:

Also forgot to mention, the valuation has happened and was ok. It took place a week after I applied.

I thought the valuation happens after the mortgage offer?

We aren't self employed but we didn't get our mortgage offer until after the valuation. Our valuation was done on the Thursday we had our offer on the Tuesday 

330d

Very confused on why ours is taking so long.

Have any other people been waiting this long with Natwest. We put our application in nearly 5 weeks ago.

anonymouse2202

Have you been chasing them 330d? Ours took forever first time round and it was because our broker didn't submit a form that they introduced to ask more questions about being self-employed during coronavirus. NatWest lapsed the application after 7 weeks because of the form never being sent in. Are they waiting for something else from you? I'd recommend using the 'Ask Cora' online chat thingy, they will tell you exactly what is going on and you generally don't have to wait very long.