NatWest Mortgage Timescale 2021

bhhm3

PXP said:

I have some exciting news!! We have our offer 🥳🥳

Our timeline - applied via broker 

-AIP done: 31st Aug 2021
-Mon 06/09/2021 - Full application submitted and hard search done
- Tue 07/09/2021-  Valuation instructed for -Fri 10/09/2021
- Tues 07/09/2021 - payslips requested - payslips sent the same day 
- Thru 09/09/2021- employment contracts requested for my new job to confirm annual salary as my payslip was showing more money due 6weeks pay.- Sent same day 
- Fri 10/09/2021 - Valuation completed ✅ and received same day- tracker updated 
- Mon13/09/2021- Valuation assessed ✅ and everything ticked on the tracker 
- Tue 14/09/2021 - Offer Received 🥳🥳🥳

How exciting! Congrats!!!!

nicolanickynic

bhhm3 said:

Got Natwest's valuation booked in for today. Checked with Habito, they called Natwest up and confirmed it was a physical valuation.

How quick after the valuation took place on your mortgages did it show up on your tracker?

Does anyone have any further insight as to when the results of the valuation will update on the there? 

Mine was literally the next day. Physical valuation was on the 8th. By 6:30pm the tracker was updated to confirm the valuation report had been received.  By 9:55 the next day (9th), the valuation review had been completed and by about 12:30 I received the offer by email. Natwest are speedy!!! Good luck

nicolanickynic

Emmaps said:

Hi All,

I've been reading through this as we are currently waiting on a mortgage offer from Natwest. A bit of background, we applied for a mortgage in Jan 21 (75% LTV) which was approved pending valuation very quickly, but because of an unconventional layout of the property (2 kitchens) it took 6 weeks to get the valuation accepted by the lender and a mortgage offer to be made. Fast forward 9 months, our purchase has fallen through, we've found a new property and applied for a new mortgage with Natwest again (still 75% LTV, but slightly cheaper property)

31/08 Offer accepted on house and instructed mortgage broker to apply for the mortgage
01/09 Natwest agreed to pre approve us because of the previous mortgage offer (we had sent all payslips and bank statements anyway)
02/09 Natwest asked for proof of deposit which we sent same day

I've heard nothing since, I emailed my mortgage broker on Friday 10th asking if the valuation had been booked and have yet to get a reply. The reason I'm concerned is because we got into a bit of a bidding war on this house and ended up offering £30k over asking price so I am really worried that the valuation will come back as a devaluation.

The house was up for sale with Purple Bricks who apparently are known to intentionally under price homes but still I'm concerned!

Has anyone any experience of offering over asking price with Natwest recently? Did you have any issues with the valuation?

Many thanks

I was convinced mine would be down valued, to the point that I was searching for other properties to view in case the developers refused to lower the price. It was fine!!!!
I'm buying a new build flat just outside of London, so paying a price that I am happy with as a Londoner, but I was convinced it may be seen as high for the area I am moving to.
It was absolutely fine, it was all in my head!!  Good luck x

mortgagehope

hannah4768 said:

mortgagehope said:

hannah4768 said:

Hi everyone,

I have been watching this forum for a while now but we applied with NatWest last week, we were credit checked etc. Valuation was done on Tuesday and valued correctly but now they have requested my partners sa100 to assess as he is self employed - is this normal after the valuation has been done? They have already seen his last two years calculations etc?

We have been told that we now need to wait another 3-4 days for it to be assessed?

Has anyone experienced this? Thank you 

This is pretty much where we're at, at the moment. Credit checked valuation done etc but then asked for extra docs as he's self employed. 

All our documents went back to them via a broker, either Friday or Monday and not heard anything yet. The wait is excruciating!

Ahh it’s so nerve wracking isn’t it! Glad to know it’s not just us. I thought we were home and dry once they had done the valuation. 

I really hope you get some good news soon! 

Our mortgage advisor has called this morning, and out mortgage has been approved! HORRAY.

It took almost two weeks for them to approve it after we handed in the extra documents. Hope that helps put your mind at ease!

hannah4768

mortgagehope said:

hannah4768 said:

mortgagehope said:

hannah4768 said:

Hi everyone,

I have been watching this forum for a while now but we applied with NatWest last week, we were credit checked etc. Valuation was done on Tuesday and valued correctly but now they have requested my partners sa100 to assess as he is self employed - is this normal after the valuation has been done? They have already seen his last two years calculations etc?

We have been told that we now need to wait another 3-4 days for it to be assessed?

Has anyone experienced this? Thank you 

This is pretty much where we're at, at the moment. Credit checked valuation done etc but then asked for extra docs as he's self employed. 

All our documents went back to them via a broker, either Friday or Monday and not heard anything yet. The wait is excruciating!

Ahh it’s so nerve wracking isn’t it! Glad to know it’s not just us. I thought we were home and dry once they had done the valuation. 

I really hope you get some good news soon! 

Our mortgage advisor has called this morning, and out mortgage has been approved! HORRAY.

It took almost two weeks for them to approve it after we handed in the extra documents. Hope that helps put your mind at ease!

Yay! That’s amazing. So pleased for you. We actually got our offer on Tuesday evening too 😊 completely forgot to update but congratulations! 

scottie21

After getting our mortgage application turned around in less than a week at the start of august, we have had to re-submit due to a change in the property price, it is now with the underwriters and my trackers has gone back to step 1 of 3 *sobs
hoping for a quick turn around again as at least valuation is done this time. 

vi009na

scottie21 said:

After getting our mortgage application turned around in less than a week at the start of august, we have had to re-submit due to a change in the property price, it is now with the underwriters and my trackers has gone back to step 1 of 3 *sobs
hoping for a quick turn around again as at least valuation is done this time. 

Change in property value? It went up or down?

scottie21

vi009na said:

scottie21 said:

After getting our mortgage application turned around in less than a week at the start of august, we have had to re-submit due to a change in the property price, it is now with the underwriters and my trackers has gone back to step 1 of 3 *sobs
hoping for a quick turn around again as at least valuation is done this time. 

Change in property value? It went up or down?

Down, we renegotiated after survey. Interest rates have lowered so it worked out better for us, we knocked 5 years off our mortgage! 

Emmaps

nicolanickynic said:

Emmaps said:

Hi All,

I've been reading through this as we are currently waiting on a mortgage offer from Natwest. A bit of background, we applied for a mortgage in Jan 21 (75% LTV) which was approved pending valuation very quickly, but because of an unconventional layout of the property (2 kitchens) it took 6 weeks to get the valuation accepted by the lender and a mortgage offer to be made. Fast forward 9 months, our purchase has fallen through, we've found a new property and applied for a new mortgage with Natwest again (still 75% LTV, but slightly cheaper property)

31/08 Offer accepted on house and instructed mortgage broker to apply for the mortgage
01/09 Natwest agreed to pre approve us because of the previous mortgage offer (we had sent all payslips and bank statements anyway)
02/09 Natwest asked for proof of deposit which we sent same day

I've heard nothing since, I emailed my mortgage broker on Friday 10th asking if the valuation had been booked and have yet to get a reply. The reason I'm concerned is because we got into a bit of a bidding war on this house and ended up offering £30k over asking price so I am really worried that the valuation will come back as a devaluation.

The house was up for sale with Purple Bricks who apparently are known to intentionally under price homes but still I'm concerned!

Has anyone any experience of offering over asking price with Natwest recently? Did you have any issues with the valuation?

Many thanks

I was convinced mine would be down valued, to the point that I was searching for other properties to view in case the developers refused to lower the price. It was fine!!!!
I'm buying a new build flat just outside of London, so paying a price that I am happy with as a Londoner, but I was convinced it may be seen as high for the area I am moving to.
It was absolutely fine, it was all in my head!!  Good luck x

Thank you, I finally got a response from my Mortgage Advisor to say our survey isn't until the 22nd! apparently theres a shortage of surveyors in our area so a few more days of stressing for me! Really glad yours was fine though, got my fingers crossed that we get some good news by the end of next week!

danib21

hi there. we had our property valued with natwest we were hoping to get 280k but came back as 260k we have informrd our broker we are happy to proceed with that (remortgage LTV 80%) what happens now does it go back to underwriting? solicitor has been instruvted and been in touch with me sorting all paperwork etc too. so hoping its just waiting for offer now?