NatWest Mortgage Timescale 2021

sanaubair

Hello can someone help me too?

i applied via a broker on the 15th of sept submitted documents on 3rd of oct. Self employed. I was told that today my documents have been partially looked at but it doesnt show on the tracker a tick. Please can guide is something wrong 

sanaubair

Im so worried. 

sanaubair

I am just confused whats going on. 

Camboudica

Don't panic, there's currently a 15 working day wait whilst underwriters look at your application, if you submitted docs on the 3rd you'll be lucky if they get looked at before the 24th October. Our tracker sat at 'being reviewed' for weeks. 

sanaubair

I called them today they said that few of the documents have been looked at but they are not ticked on the tracker. Does that mean anything? Does that mean underwriter is accessing it?

sanaubair

Is this a good sign that some of the documents have been looked at? 

But not fully accessed. 

Natwestchap

DIP on 5/10/22
FMA on 06/10/22
Hard search on 06/10/22
Valuation requested on the 06/10/22
Valuation carried out on 10/06/22
Valuation reviewed on 11/06/22
property undervalued by £4 !!! Yes £4 pound
Received offer on 13/10/22

FTB with 2 defaults totalling over 3k. Defaults are 4yrs old and 3 years old respectively. Partner has excellent credit.  

sanaubair

Was the lender natwest?

Camboudica

@sanaubair, if you are self employed it takes a while unfortunately. You might get lucky and get through the system quite quickly, it all depends. They seem to be pushing through applications from employees fast, as per the poster above, who I'm assuming by the speed of their application they are both employees. But, we're a couple, I'm employed, my partner is self employed, and it took 6 weeks for us to receive our offer even though the valuation was done in the first week.

They will do an initial check of your documentation to ensure they have what they need, then it usually sits around waiting for an underwriter to look at it in more depth, they may decide at that point they want more information, they may decide to just make an offer. They won't tick the tracker until they have reviewed everything properly so you just have to be patient I'm afraid. It's torturous I know, we've just been through it, but it all takes time and they are very busy. 

rachies86

We're still waiting for an update after submitting on 17th August! It's been over 8 weeks now for a remortgage. Neither of us are self-employed and have good credit scores and a high household income so this is crazy. We can't understand what the hold up is.

We initially started moving quickly with the valuation instructed within the first 3 days, that was received and agreed with our house price, and since then it's been a lot of radio silence. 

All these people who have submitted and had a decision within 3 weeks - you are lucky buggers!