NatWest Mortgage Timescale 2021

lantanna

Timescales have come down again, I’m on working day 8 now still nothing but the hard check on the 24th and the deposit letter. Hoping to get have an offer by the 14th before we hit Easter and have more delays 

Kimonos88

@Lantanna I am exactly the same as you, application via broker went in on 24th, deposit letter, new build etc. What Credit agency did your hard search show up on?

lantanna

Clearscore. Have you heard anything back from them at all? I rang up this afternoon and asked for my mortgage application number to use the tracker and she said it hasn’t been keyed onto the system yet. If I hadn’t seen the hard search I’d be questioning if the broker had even submitted it !

saundyc

Hi, I thought I'd post my timeline with Natwest. We are at the final hurdle and I do think our solicitors took a tad too long but anyways. We are remortgaging our house so no other house involved. 

Mon 31st Jan - mortgage accepted

Wed 2nd Feb - valuation instructed

Fri 11th Feb - approved subject to valuation
(Apparently the estate agents had been trying to contact us and this was a delay as I had to chase them to book)

Thurs 17th Feb - house valuation

Fri 18th Feb - valuation received by Natwest and approved

Tues 8th Mar - signed with solicitor
(Delay as they didn't realise it was in the portal and were waiting on it by post, chased up by myself via broker)

Mon 4th Apr - Natwest received certificate of title and solicitors requested to release funds
(Solicitors have instructed that this will take 7 days max)

Tues 5th Apr - funds ready for release

Financial advisor received a letter today (Wed 6th) stating that the funds will be released on Fri 8th April for completion the following working day. I presume this will be Mon 11th April.

Solicitor rang yesterday (Wed 6th) and said funds would be in their bank by lunch time on Fri 8th and the money would be transferred straight to ourselves on Fri so waiting to see what tomorrow brings!

Fri 8th Apr - 9am natwest tracker said our account was live so I took that as money was transferred to solicitor.
12pm - email from solicitor saying that they received the funds and that we'd receive the money by lunch time and it came through at 1.30pm.

Soku

Soku said:

I can see some movement on the tracker for the first time since submitting an application on 03/03.

It is so good to see some progress.

All open actions have been ticked off on the tracker. I am hoping for an offer by Wednesday. It is so nerve wracking.

03/03 - application submitted
04/03 - hard check

07/03 - more docs requested
21/03 - another batch of documents
24/03 - recent bank statements
04/04 - all open actions ticked off

Kimonos88

lantanna said:

Clearscore. Have you heard anything back from them at all? I rang up this afternoon and asked for my mortgage application number to use the tracker and she said it hasn’t been keyed onto the system yet. If I hadn’t seen the hard search I’d be questioning if the broker had even submitted it !

No haven’t heard anything from them directly. My broker said they asked for evidence of savings which he provided but that’s about it. When are you hoping to exchange? What’s your LTV %? 

lantanna

My Ltv is 82 %. I’m due to exchange before Easter. Pretty peeved off now. Working day 9 and nothing. I hope I’m not wasting my time.

Kimonos88

You’ll be fine don’t worry - my guess is you’ll have an offer by Friday 

lantanna

Spoke to my broker this afternoon, he says valuation still hasn’t been booked but everything else is ok so hopefully once that’s done it will be quick.

tab99uk

GentleGiant01 said:

tab99uk said:

my buy to let mortgage with natwest dint get approved due to valuation said not many investors in the area and not many properties sold in the area im only borrowing 90k 

any way to appeal this is  broker said cant do nothing once they dont approve it

If you don’t have a broker I suggest now is a good chance to get one I guess now it depends if other lenders will use different survey methods. Who was your original mortgage with, when did it end and what Town are you in? 

yes it was through a broker it was a ex council house old mortgage was with Halifax its all paid off.

is it expensive for a broker to charge 1% of 250k which is 2500 he charged me half the fee upfront then the rest after mortgage is done.