NatWest time from AIP to acceptance

Masmoo

Jimeji said:

AIP 22/7
Application 28/8
Valuation 19/9
Hoping for an answer this week. It took a while for the valuation to be booked, hence the delay. It is starting to drag on so really hoping for a response any day now!

Have you heard anything since your valuation? We paid ours on Thursday and they said a local surveyor should get in touch hopefully Monday to book one in. 

silverstar9

SueF1 said:

silverstar9 said:

Our full application went in on the 21st of August and I telephoned NatWest yesterday for an update and they told me the underwriters have fully assessed and I should get my offer next week. There’s just a few internal admin tasks for them to complete! I’m part self employed though and they came back to me about 4 times requesting more documents.

Which extra documents out of interest?

The first time they requested business account bank statements, then they requested a covid-19 form which is about how your business was affected by covid. They later requested my RTB form (so unless you’re RTB they won’t ask this from you) and then finally requested credit card statements to show balances repaid.

silverstar9

My timeline is as follows:

20/08 - DIP.

21/08 - Full application including 3 months payslips, 2 years SA302’s/tax overviews and 3 months bank statements submitted through broker.

24/08 - Valuation instructed.

28/08 - Payslips/SA302’s ticked on tracker.

28/08 - NatWest requested updated bank statements and also Covid-19 statement regarding SE business.

01/09 - Bank statements ticked on tracker.

02/09 - Physical valuation (house was previously valued at £165k.

03/09 - Valuation report marked as received on tracker.

10/09 - NatWest requested RTB document.
14/09 - Documents ticked on tracker.
21/09 - NatWest requested credit card statements to show balances repaid.
25/09 - All documents ticked on tracker. Telephoned Natwest for an update and was told my mortgage offer should be given next week after some final internal admin tasks are completed.

Jimeji

Masmoo said:

Jimeji said:

AIP 22/7
Application 28/8
Valuation 19/9
Hoping for an answer this week. It took a while for the valuation to be booked, hence the delay. It is starting to drag on so really hoping for a response any day now!

Have you heard anything since your valuation? We paid ours on Thursday and they said a local surveyor should get in touch hopefully Monday to book one in. 

Still no word yet. We applied, and paid for the valuation on 28/8 but then it took 3 weeks for the valuation to take place.
The MA has told me he has done everything he can, and I have done everything I can so it is just a waiting game. I am hoping that no news is good news, as if they needed anything else they would have made contact by now.
Will keep you upated

ChasingtheWelshdream

We're still awaiting an answer from full application on 22nd June. :-( 

All documents sent in and queries answered as soon as we were asked. Valuation completed weeks ago. 2 weeks ago we were promised an offer within 24 hours but radio silence since as they apparently hadn't reviewed the last set of documents (which were duplicates they had already been sent). 

We have a small element of self-employment which has not been impacted by Covid at all - no grants or loans taken. Both of us have stable, permanent day jobs which account for the majority of our income and no adverse credit at all.

It has been escalated several times by our broker, but they refuse to give any information until it is 'out of timescale'. We are at the point where we are going to withdraw the application and try elsewhere as they won't even tell us where we are in the process. The 'offer' status was clearly incorrect and we have been in limbo for 3 months. We are not moving house so are not in a desperate rush.

I'm very envious of all these offers I keep seeing on the other thread!

Jimeji

ChasingtheWelshdream said:

We're still awaiting an answer from full application on 22nd June. :-( 

All documents sent in and queries answered as soon as we were asked. Valuation completed weeks ago. 2 weeks ago we were promised an offer within 24 hours but radio silence since as they apparently hadn't reviewed the last set of documents (which were duplicates they had already been sent). 

We have a small element of self-employment which has not been impacted by Covid at all - no grants or loans taken. Both of us have stable, permanent day jobs which account for the majority of our income and no adverse credit at all.

It has been escalated several times by our broker, but they refuse to give any information until it is 'out of timescale'. We are at the point where we are going to withdraw the application and try elsewhere as they won't even tell us where we are in the process. The 'offer' status was clearly incorrect and we have been in limbo for 3 months. We are not moving house so are not in a desperate rush.

I'm very envious of all these offers I keep seeing on the other thread!

I know these are unusual times, but that is an incredibly long wait! I can't imagine how stressful that must be. Hopefully any day now!

browneyone

We applied on the 13th August and we had ours escalated on the 24th September but still nothing

fountainradar

Natwest seems to be ridiculously slow.

My application went in on 10th Aug and the offer is still not issued. The reasoning for delays have been ridiculous.

Didn't know what fees to charge for valuation. Desktop is cheaper than physical
Documents not received from the broker (tracker said they did but Natwest didn't pass it to the underwriter)
Documents received and thought more were coming (they didn't check the documents and assumed something was missing)
All good with the valuation and documents but solicitor information is not on the record (it was already sent when the application was made)
All good with the solicitors details but couldn't find the company in the law society database (The solicitor is in the list. I gave them the registration number and asked solicitor to contact the bank to clarify the issue)

Now my application is marked for review as urgent. Hopefully the offer comes through soon.

ACG

Our latest offer I submitted an application on the 18th which went to offer today, so 12 days from application to offer. 
I think the DIP was issued on the 16th or 17th. 

fountainradar

Big chunk of my stress and anxiety has been relieved! Offer received after almost 2 months of waiting!