Natwest Self-Employed Mortgage Timescale post valuation?

davisaj22

Hi all

I wondered if anyone has any experience on this? a mortgage valuation was carried out on our property that we are selling at 8am yesterday by ESurv. Just wondering when our buyers are likely to hear news following this. They have applied via a broker, one of them is employed, the other self-employed. Its taken absolutely ages for them to get to the point of valuation - despite their best efforts!

kingstreet

A broker using NatWest for self-employed applicant? Strange move.
Assuming all the status checks were done before the valuation was instructed, I'd expect the offer to be issued within five working days of the receipt of the valuation. If there are any unanswered questions on income/self-employment it's how long is a piece of string...

vickielouise87

We have an application sat with Natwest - submitted 5 weeks ago! My partner is self employed and has 2 defaults which are both over 2 years old. One soon to drop off. I was surprised our broker even managed to get us an AIP with them to be honest. 

Anyway, the valuation was done 3 weeks ago and we are still waiting for a decision. I asked for an update via Cora on their website and they said they were waiting for some further information. This was actually provided by our broker on 7th December and we are still waiting! When I log into the tracker, it just says they are processing it and will be in touch. So frustrating! My broker said he would have a yes or not for us by Wednesday this week at the very latest, we’re obviously now on Saturday and nothing! 

We have actually contacted another broker who has got everything prepared for after Christmas to submit to a specialist lender. 

I’m praying for a miracle with Natwest but I really cant see it happening. 

Hope you have more luck than us. 

big_saver_5

I went with a broker who tried to get me a self employed mortgage with natwest and got nowhere for 4 months. I ended up exchanging without a mortgage offer and my dad offering to lend us the money to bridge the gap (nearly half a million so not something I wanted to do). Contacted a broker from here and she got me a mortgage offer in 2 weeks with another lender and we completed in time. Both myself and my wife are self employed and took grants and seiss (construction and childcare) My broker said she avoids natwest for self employed now so imagine they must be a nightmare for everyone 

vickielouise87

Who did you end up using if you dont mind me asking? Im going to withdraw out application with natwest and pray this new broker get us something in time. We should be completing end of jan  😫

K_S

davisaj22 Natwest are scrutinising SE applications to the nth degree currently so personally I would recommend them to SE clients only for very very straightforward cases or recommend with clear caveats. But sometime you get clients who are fixated on the rate or brokers who don't adequately consider service levels and you end up with cases which may look good on paper but take absolutely ages to get anywhere.