NatWest Mortgage Timescale 2021

lauralooo

Hi, 
we are preparing for completion and the tracker has updated today to say that they have received certificate of title and this is being assessed. Does anyone know how long this takes until funds are ready for release? 

Thanks 

anthonyhb87

AtPanAtPan said:

Staceymw said:

We applied on 15/09 and are still waiting!
they requested further documents ( proof of equity in the house we are selling) & (proof of funded childcare starting). So think this has made us join the back of the queue again!
would be so much easier if they said what they needed from the beginning!

Yes I was a bit surprised when we were asked for ID after a week, but then we are FTB and so everything is very new.
I managed to speak to Cora today after reading on this thread that you can actually get through to a human - they said there was an outstanding query on the viewings contact (we are renting the property we are buying) 

they let me resolve that through Cora and then said it would be two working days to go to offer…holding my breath 

none of that was known to L&C and wasn’t on the tracker.  Anyone waiting might benefit from trying Cora (9-5)

hopefully we will get some good news soon fingers crossed for you too

My situation is almost identical to yours. I am first time buyer and buying the property I am renting through a private sale. This is my timeline:

28th September: Full Application
4th October: Received Tracker Details & Digidocs Login to upload documents
4th October: Uploaded All Documents & ID
4th October: Hard Credit Check
5th October: Tracker Showing Everything Pending
7th October: ID & Direct Debit Mandate Ticked 
7th October: Valuation Instructed
10th October: Valuation Visit Done
12th October: Valuation Ticked and confirmed satisfied
19th October: Everything ticked On Tracker


I am like you just sitting in limbo now. The fact they haven’t asked for any more information and it’s all been ticked for a day and a half now, I’m hoping it means I will get an Offer tomorrow. One thing I did do, I full researched everything they would need. I made sure everything was uploaded as soon as I got the link. It was pretty clear in everything they would need. Really not sure why your broker didn’t do this as it was one of the first things requested and ticked.

They have never requested anything about viewings contact and I am in the same situation as you. I remember there being a part on the form to fill this information in which obviously wasn’t filled in by the broker. 

There were a few large transactions on by bank statements. I really expected these to be questioned as I lent my parents some money and then this was paid back 2 months later. However nothing so far. 

Danieljw90

lauralooo said:

Hi, 
we are preparing for completion and the tracker has updated today to say that they have received certificate of title and this is being assessed. Does anyone know how long this takes until funds are ready for release? 

Thanks 

The funds will not be released until your solicitor requests them. It can take a few days from request to release.  The lender may or may not then do another credit check before releasing. 

sanaubair

As Limited company - will also need sight of Sight of the latest up to date accounts for Applicant to validate net profit supports is supported by Turnover as seen on the tax return and to reveal a healthy capital account.

This is the further info required by my underwriter. 

Does he only want to see 2022?

my profit is 716 and turnover around 47600 and i am not sure what he means by capital accounts. If that shareholder funds that is in minus like (2220) 
with a salary of 515. 

Please if can someone help me on this

lauralooo

Danieljw90 said:

lauralooo said:

Hi, 
we are preparing for completion and the tracker has updated today to say that they have received certificate of title and this is being assessed. Does anyone know how long this takes until funds are ready for release? 

Thanks 

The funds will not be released until your solicitor requests them. It can take a few days from request to release.  The lender may or may not then do another credit check before releasing. 

Thanks - it has updated today and has been ticked off and now says funds are ready for release so assume they’ll are good to go the day before completion.

sanaubair

Hello, my mortgage application has been all ticked off and sent off to final checks. Is that something good sign? 

How much time it takes for final checks?

which1982

Sorry…I know this is a common Q.

applied - 6th October
hard search - 6 October 
tracker started working - 20 October
valuation instructed - 20 October 
valuation complete 21 October 

tracker now says that NW is reviewing my original statements and pay slips, and assessing the valuation report.

any idea if a) a physical valuation was likely done given the timeline above, and b) likely next steps? 

Yellow_1978

sanaubair said:

Hello, my mortgage application has been all ticked off and sent off to final checks. Is that something good sign? 

How much time it takes for final checks?

The most accurate timescale you will get is to contact Natwest directly, you can do this online via their chat and just ask for an update and when you will likely hear an outcome. We've just been ticked off on all assessment and valuation on the tracker, now waiting for offer. I was told up to 14 working days when I contacted Natwest. It seems to be different for everyone, so best to contact them and get a rough idea. We applied early Sept so it's been a long wait for us. It is a good sign, as long as they now don't ask for more documents or information.

sanaubair

Yes they didnt ask for any further documents. 

But i am still waiting for decision. They say its with their final checks and affordability checks are done. 

Can it be declined at this stage?

sanaubair

It has been 2 days since it has all been ticked off and they didnt require any further information