Natwest

KAP0365

NatWest have instructed a valuation after us passing all checks and documents being reviewed. Does this mean we are approved subject to valuation? Apparently survey is done by Legal and General. Anyone got any experience of timescales between instruction, valuation and offer (south east)? 

biscan25

We applied with Natwest on 9 July, doc checks done and confirmed 13 July (I think this is just checking they are all there, valuation returned 17 July.
My understanding is that we still are waiting for the underwriters for approval.

EverythingIWant

Don’t want to get your hopes up, we had a valuation booked and on the day they were meant to turn up NatWest declined the mortgage. This was the day before lockdown mind. 

KAP0365

@EverythingIWant what was the reason for the decline? Are you FTB or large LTV? We are home movers 68% LTV and they said we have passed the credit assessment and document all look fine and tracker is showing they have been ticked as reviewed...

Was feeling positive as read on Trussle website and a couple of posts on here that NatWest don’t usually instruct valuation unless everything else is approved.... arrrgghh!

anonymouse2202

Natwest do the valuation alongside the underwriting to speed up the process, so you can’t really read into one being instructed unfortunately. 

EverythingIWant

@KAP0365

It was ran alongside I believe, we were HTB remortgage at 70% LTV. All good then they said it has been flagged for senior underwriter secondary approval who went on to decline the mortgage (due covid I think!) but said it was because of historic adverse in the NatWest group which took me a while to dig out of them... 365 default from 2009 with RBS... well over 10 years ago which I had a letter confirming it was to be removed as the default occurred from obscene bank charges that caused the account to go overdrawn and subsequently defaulted. 

I am sure you will be fine!

steve866

I paid for valuation on 3rd July and the earliest date they could do was 20th. Official offer came on 21st July. I was told that I was approved subject so survey when I called them but this isn’t always the case. Just call them and ask?

KAP0365

Just spoken to them and they have confirmed approved subject to satisfactory valuation, valuations are being looked at in date order so they are hoping it won’t be too long. 

KAP0365

Got official email this morning confirming application approved subject to survey. Full application submitted 18.08.20 so really quick! Now we can relax a bit and cross our fingers for a successful valuation 🙂