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NatWest Mortgage Timescale 2021

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  • Applied 6/10, and document review started on 20th
  • Hi all, wondering if with service levels as they, whether Natwest are any more likely to conduct a desktop valuation? Submitted through a broker on the 14th and yet to hear anything at all. Very anxious as property is old (c1800) with much modernisation needing to be done, and located in a rural village with little comparable properties sold - convinced of a down valuation or retention of some kind and the wait is excruciating... am I right in thinking this is particularly common at the moment?
    Can't help with the service levels but my property is very similar. 18th Century, in a hamlet of 3 house that haven't sold in 20+ years and nothing within 10 miles of a similar nature to compare. They decided to do a physical valuation I think in part because of the above and it came back at purchase price! 

    I think they'll only do a desktop valuation if they have enough information available to compare? 
    Thanks, yes make sense that they’d visit in person. Out of interest who would then need to organise the visit… 🤔 is that between mortgage broker and estate agent? Reassuring to know it’s not immediately a red flag for them without lots of nearby sold data. We pushed significantly below asking as we thought it was rather bloated (30k under!) so hoping that also provides some breathing space for the valuation.
  • Hi all, wondering if with service levels as they, whether Natwest are any more likely to conduct a desktop valuation? Submitted through a broker on the 14th and yet to hear anything at all. Very anxious as property is old (c1800) with much modernisation needing to be done, and located in a rural village with little comparable properties sold - convinced of a down valuation or retention of some kind and the wait is excruciating... am I right in thinking this is particularly common at the moment?
    Can't help with the service levels but my property is very similar. 18th Century, in a hamlet of 3 house that haven't sold in 20+ years and nothing within 10 miles of a similar nature to compare. They decided to do a physical valuation I think in part because of the above and it came back at purchase price! 

    I think they'll only do a desktop valuation if they have enough information available to compare? 
    Thanks, yes make sense that they’d visit in person. Out of interest who would then need to organise the visit… 🤔 is that between mortgage broker and estate agent? Reassuring to know it’s not immediately a red flag for them without lots of nearby sold data. We pushed significantly below asking as we thought it was rather bloated (30k under!) so hoping that also provides some breathing space for the valuation.
    Yeah it was arranged through the estate agent and they gave my broker updates 
  • xzibit
    xzibit Posts: 662 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    I’ve had an email from optima legal asking me to register with them as they are assisting with my remortgage. Is this legit? Surely NatWest should let me know to expect contract from such a company?
  • shanod said:
    which1982 said:
    This is the current status of my tracker (everything ticked). Anyone know what might come next, and how soon? Does this mean NW have done all their checks? 


    What dates did you apply and what dates did they start reviewing documents? 
    Any thoughts on what comes next?
  • @which1982

    It will be offer next, ours was all ticked on the Friday then we got the offer via email on the Monday morning. For some reason though ours hasn’t been ticked to offer but it says in a drop down box that offer has been sent. Spoke to my mortgage broker about it and she said don’t worry as she has the offer via email and to stop checking this. 

    Hope this helps 
  • Really helpful, thanks @ashleighflint

    An impossible question to really answer, I know…but if there was a major problem that could lead to a decline, I assume they’d have told me by now?! Such a mix of worry/excitement!
  • So, on day 10 we've just had our mortgage fee taken, hoping it gets moving now!
  • which1982 said:
    Really helpful, thanks @ashleighflint

    An impossible question to really answer, I know…but if there was a major problem that could lead to a decline, I assume they’d have told me by now?! Such a mix of worry/excitement!
    It’s such a worry isn’t it. I’ve just spoken to NatWest and they said they’re just waiting for certificate of title from the solicitor to proceed the case further to offer. But we have revived the offer it’s just so the tracker can move. 

    If they were going to decline you would have known by now I’m sure of it. I always go on the chat and ask them there. 
  • Thanks! 

    I’ve just managed to get hold of NatWest via online chat and they’ve told me they’re doing ‘KYC’ checks which take up to 2 working days…

    I’m guessing this is anti-money laundering etc. but seems odd to be doing that towards the end of the underwriting process? 
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