NatWest survey/valuation

darlingdaisys

Little update.... The valuation hasn't been carried out because our buyer couldn't obtain a mortgage with NatWest. They decided to inform them 4 weeks down the line. That's 4 weeks of viewings my house could have had and not be in the position we're in now trying to find a new buyer quickly!

decs2021

Who/which surveyors does NatWest use for a valuation?

Stato71

During our saga Natwest use Legal & General as the underwriter and L&G appoint local surveyors to undertake the valuations. Trouble we had was the surveyor will only communicate with L&G and L&G will only communicate with Natwest.  It was very difficult to get any accurate information about when our survey actually happened or what the hold ups were along the way. My advice if you are awaiting the valuation beyond 2 or 3 day of the agreed date is follow up with Natwest or your broker daily. It took us 4 to 5 weeks to get ours sorted and was the worst part of the whole process.

Rosemary1982

Hello we’re kind of in the same boat, everything has been ticked off on the mortgage tracker abs valuation was done this Tuesday 9th Feb (was an actually valuation at the property not a desk valuation). Report returned to NatWest and ticked off on the mortgage tracker early morning on the 11th so not really sure what is happening now. Does it go to an external underwriter then? Thought NatWest themselves were the underwriters! Confused. 

Stato71

I think we got our mortgage offer the day after the valuation report came in but that may be due to our situation and the protracted valuation phase.  I think the average turn around is a couple of days as someone has to check the report and if it passes then the mortgage is approved.  If you log on to the mortgage tracker you should be able to live chat with Natwest and ask for an update.  I found that helpful when chasing our mortgage. Good luck with it.

Rosemary1982

Stato71 said:

I think we got our mortgage offer the day after the valuation report came in but that may be due to our situation and the protracted valuation phase.  I think the average turn around is a couple of days as someone has to check the report and if it passes then the mortgage is approved.  If you log on to the mortgage tracker you should be able to live chat with Natwest and ask for an update.  I found that helpful when chasing our mortgage. Good luck with it.

Thanks! My broker has chased up today and thinks we should get a decision by close of play Tuesday.  Proper stressed as had our last application to santander approved and we were all systems go then  AFTER they offered they retracted it two weeks later with no explanation.  Awful.