NatWest mortgage application taking FOREVER!

jesstt

Hi there, hoping someone can put me out of my misery. We are at the final hurdle of a chain that started the day before lockdown. Our buyers have applied for a NatWest mortgage and the valuation took place 4/5 weeks ago! What is going on?! They applied through a broker and had to send some additional paperwork as also do some self employed work on top of their normal work (medical). Why on Earth is it taking so long - does this mean bad news is imminent? What have your experiences been of delays caused by lockdown - hoping it’s a staffing thing...

dunstonh

Why on Earth is it taking so long - does this mean bad news is imminent?

Have you been hibernating and missed the last 6 months?

4-5 weeks is not abnormal at this time.  And mortgages for those with multiple income sources (such as self employed and employed) usually take a bit longer.  Especailly if you need an accountant to complete forms.

jesstt

Nope, not hibernating (unfortunately haha). 

We had ours approved just 4 days after the valuation and did have both freelance and full time work so that’s why this experience has been quite a contrast to ours, with Halifax.

Rishi2020

Yeah similar situation here. My buyer's still waiting for his mortgage with Natwest, valuation passed but still waiting for the final offer and it's been sooo long. And I got my offer within 2-3 days after applying with Halifax. 

jesstt

@Rishi2020 it’s so hard isn’t it! We are desperate to move and thought we would be in ages ago. Current house is fit to burst! How long has it been since your buyers’ valuation? I think it’s been over 5 weeks for us now 😱

Rishi2020

@jesstt Yeah I wish we knew beforehand the timelines with Natwest particularly, so the buyer could have considered using another lender for a quicker sale. I'm scared of it all falling through and really want this house. The valuation was done on 26th June and I only heard it was all fine on Tuesday 21st July, I've seen quite a few people on here have had similar timelines. 5 weeks is crazy, hang on in there and hope you hear back soon!

steve866

I applied via Natwest on 23rd June. I had to provide a lot of additional documentation because half my income is commission/bonus related. The survey took place on Monday and the offer came through on Tuesday. I called Natwest almost daily to chase them up and keep everything moving forward.

anonymouse2202

jesstt said:

Hi there, hoping someone can put me out of my misery. We are at the final hurdle of a chain that started the day before lockdown. Our buyers have applied for a NatWest mortgage and the valuation took place 4/5 weeks ago! What is going on?! They applied through a broker and had to send some additional paperwork as also do some self employed work on top of their normal work (medical). Why on Earth is it taking so long - does this mean bad news is imminent? What have your experiences been of delays caused by lockdown - hoping it’s a staffing thing...

If your name is Jonny, we are pretty stressed about this too!

jesstt

Haha I’m not Johnny but good luck to you

jesstt

@steve866 good to know, thank you. As far as I know their broker is calling NatWest for updates but they themselves have not called. I would love to call myself but I don’t trust myself not to shout WHAT ON EARTH IS TAKING SO LONG?! 

jesstt

@steve866 sorry just realised you had your offer the day after valuation! So that doesn’t tie in with our experience at all! Valuation done but no offer in 5 weeks since 😬