NatWest Mortgage Timescale 2021

homebuyeruk

claire4431 said:

It was the 14th mine was down also, she did tell me leaving the house there was possibly asbestos but said it would be reported the next day to Nat west. Which it was but took them to yesterday to contact. 

Hopefully you’ll hear today!! 🤞🤞

Hopefully, I am nervous after seeing how quick (1-2days) other members got the results back from valuation…  

claire4431

I 100% get you! 

I think everything about the process makes you nervous doesn’t it. 

Ours was done first thing in the morning if that makes a difference. 

LouietheLoop

Hi All, 

Wanted to drop our timescales in here in case it's of use to anyone else waiting to hear back. Have been really impressed at how quickly Natwest have come back. 
I think we are a fairly straight forward case - both employed, no outstanding debts, applied for mortgage of 48% LTV

11/10 - AIP issued by broker and mortgage application submitted
15/10 - valuation of property
19/10 - mortgage approved subject to results of valuation
20/10 - Offer of mortgage issued

Good luck to everyone else currently waiting! 

firstbuyer

Dropping in our timescales too

02/09 - Application submitted
10/09 - Offer issued subject to valuation
10/09 - Valuation instructed
13/09 - Valuation results received
15/09 - Offer received

Then things went tits up, we lost our house and our buyer so we were back to square one!

28/10 - Amendments and payslips sent for original mortgage offer for new house 


And so we start again! Has anyone switched house after offer and know how long this will take now?

Daniellewilson1987

My experience 

08/09/2021 Mortgage application submitted
17/09/2021 Mortgage request more information
25/09/2021 Mortgage approved
01/10/2021 Valuation done, damp and timber report requested.
20/10/2012 Damp and timber report done, remedial works costing £750-£900 reccomended needed
26/10/2021 Natwest request work is completed and guarantee in place before receiving Offer
27/10/2021 I request a review, possibility of work doing after Offer.
29/10/2021 Natwest confirm they want work doing before Offer is given.

Now it's game over with Natwest. Seller is elderly man who wanted a quick sale and no way will he do the work. Even if he offered the likelihood of getting a builder to fix the work before the mortgage offer runs out is impossible and Natwest want invoices as proof. I'm also not willing to pay nearly a grand for work on a home I don't own. Biggest annoyance is my partner is a builder and could do the work without any issue. 

Emmaps

Just thought I would pop a little update as ours sadly hasn't been as fast or straight forward as a lot of others have experienced.

We applied for the mortgage in the 1st Sep, pre approved ourselves as our previous mortgage for a house that fell through in Aug was also with Natwest so our MA told us it would be quick and simple to stay with Natwest!!

Physical valuation was booked for the 22nd Sept, 23rd we had a call from the MA to say the property was unmortgagable due to it being steel framed with retrospectively fitted cavity insulation. The sellers agreed to have the cavity insulation removed, this was done on the 30th Sept.

The company sent a certificate as evidence of the removal on the 11th Oct which was sent to the surveyor via Natwest, they then responded on the 14th to say it was not detailed enough and we would need a detailed surveyor report as evidence. This was provided on the 18th Oct and sent to the original surveyor via Natwest.

On the 26th Oct I chased my MA to ask for an update in which I was told after he phoned Natwest that they'd received everything they needed and we would receive an offer within 24 hours.

We are now on the 1st Nov and still have no offer, our tracker is still on Assesment of application and it is 2 months to the day since we first put this "quick and easy" application in. 

My worry now is with interest rates rising we wont get the original rate we applied for!

firstbuyer

02/09 - Application submitted
10/09 - Offer issued subject to valuation
10/09 - Valuation instructed
13/09 - Valuation results received
15/09 - Offer received

Then things went tits up, we lost our house and our buyer so we were back to square one!

28/10 - Amendments and payslips sent for original mortgage offer for new house 
02/11 - Correction to purchase price made


Online tracker showing theres an issue today, rang broker who stated they'd put the wrong purchase price in - which meant our LTV would have been 97%... lost for words lol. Correction to the purchase price is in and hopefully things continue a bit smoother now!!

firstbuyer

02/09 - Application submitted
10/09 - Offer issued subject to valuation
10/09 - Valuation instructed
13/09 - Valuation results received
15/09 - Offer received

Then things went tits up, we lost our house and our buyer so we were back to square one!

28/10 - Amendments and payslips sent for original mortgage offer for new house 
02/11 - Correction to purchase price made

Online tracker showing theres an issue today, rang broker who stated they'd put the wrong purchase price in - which meant our LTV would have been 97%... lost for words lol. Correction to the purchase price is in and hopefully things continue a bit smoother now!!

08/11 - Natwest happy to offer at 85% not 90%, begged family & sent in gifted deposit form
15/11 - Offer issued subject to valuation 
15/11 - Valuation paid

This honestly feels like it's dragging this time round!!

desperatelytryingtoimprove

My amazing broker has just submitted my application to natwest  and she was able to tell me  it went through fine and is sitting with underwriter and evaluation.....do they do an initial credit check when you hit submit on full application? she seems to think we are 95percent there and nothing to worry about but I'm still worried it could go wrong at under writer stage? does anyone know if you can be rejected BEFORE underwriting stage? 

HTB_newbie

We went direct to NatWest. Had a first zoom on the Friday for affordability checks (had to submit payslips and bank statements in advance), second zoom on the Monday (credit check and mortgage application submitted). Text for the mortgage advisor the next day letting us know when valuation would take place and mortgage subject to valuation by the Thursday. Valuation occurred the following Tuesday, submitted to bank (another text to let me know it was in and ok) and mortgage offer an hour later. So 12 days between first zoom call and full offer. Was impressed and great communication during the process.

Got a call to check that key information was passed over on the zoom calls and to get feedback on them when I’d  got the offer subject to valuation. Took about 5 minutes or so whilst I was supervising DD and friends bake cakes for a charity sale. Then got a lovely hamper of fruit in the post with a message that it was to counteract the sugar from the bake sale. Really lovely surprise!