NatWest Mortgage Timescale 2021

cp7415

cp7415 said:

saundyc said:

cp7415 said:

Thought I’d share my experience so far (any advice would be much appreciated)!

Partner and I are FTB, reserved a new build on 12/02 with HTB

(Delayed mortgage application due to admin errors with HTB)

07/03 - Full application submitted through broker 

08/03 - documents requested (had to send hard copies in the post)

No update for a couple of weeks (broker said they hadn’t heard anything from NatWest)

23/03 - Asked to confirm a direct debit on payslip (told this would take 5 business days to check)

29/03 - Called NatWest to get tracking number, saw on there the valuation had been done and report received (both 28/03 but broker hadn’t told us about this). There was  also still had an outstanding action from 21/03 - called NatWest again to ask what this was and they said they hadn’t received some payslips from broker. Called broker and they said nothing was outstanding.

30/03 - call from broker to request those payslips because they HAD missed them (told this would take another 3 business days to be checked)

04/04 - broker emailed to say that the valuation report had been accepted and we should receive an update by Wednesday and offer by end of the week

06/04 - broker emailed to say underwriting has been delayed because NatWest are receiving large volumes of new cases and they still haven’t reviewed our documents so no idea when we’ll hear back now. 

NatWest tracker hasn’t moved since 31/03 and still has the outstanding action on there - been told this is nothing to worry about as the underwriter just hasn’t updated it.

Our reservation on the plot expired on 29/03, luckily the developer have been understanding about the delays so far and are holding our reservation but we’re very concerned we’ll miss out if things continue like this…

Hi, I just thought I'd share that I haven't found any delay with Natwest at all, I'll send a screenshot of our valuation and approved stage to highlight this. We are currently at completion stage and I still find them very quick. It might be an idea to ring Natwest yourself to find out what is happening. Best of luck 

I’ve just called NatWest and they have now escalated our case because it’s gone beyond their timescales (our broker should have done this the other day)!! They said we should have an update (hopefully an offer) within the next 4 hours

08/04  FINALLY received our offer via email around 10:30am (working day 25)

lantanna

Congrats, flip me there’s no way I can hang on that length of time!

Greenbluewindow

Our valuation came back approved on Tuesday 5th April, we've just been waiting for the underwriter to check our documents.
The tracker updated towards the end of the working day on Friday 8th April to show all of the 'checking' actions as ticked off with no pending actions but still no mortgage offer!
I'm assuming we will get news on Monday... fingers crossed!

Kimonos88

Kimonos88 said:

lantanna said:

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.

Just got a message to say our valuation is booked in for this Friday. First communication I’ve had since we submitted app. 

Offer subject to valuation which they received Friday. They also want EPC certificate as I’m applying for a green mortgage. It’s a new build still under construction (ready in June) so not sure how easily that’s obtained.

lantanna

Kimonos88 said:

Kimonos88 said:

lantanna said:

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.

Just got a message to say our valuation is booked in for this Friday. First communication I’ve had since we submitted app. 

Offer subject to valuation which they received Friday. They also want EPC certificate as I’m applying for a green mortgage. It’s a new build still under construction (ready in June) so not sure how easily that’s obtained.

I’m exactly the same as you but property ready August. Broker applied for the green mortgage as well. No clue how I’d get the EPC either. I assumed it was something would be sent after completion to get the cash back.  My experience with Nat west is turning into a right pain in the !!!!!! tbh

Kimonos88

Yeah I’m hoping they will just offer the mortgage with a condition that the EPC is A or B rating which Barratts guarantee  anyway. NatWest don’t accept the predicted energy certificate which is annoying. Hopefully will be fine 

Andrew1981

Our buyers requested a very small reduction in the mortgage last Monday, 1 week later and no news. So frustrating as this is the last hurdle and can exchange straight after.

I was hoping it would just be a formality and would take a day or two but I guess I was optimistic.

Anyone know what the current timescales are for this?

Thanks 👍

Lollypop18

Hiya Long time lurker first time poster - were remortgaging to NatWest 
app was submitted last week but waiting on valuation that first available date was next week 🤞

lantanna

Working day 13 no news. Contacted broker today to get them to confirm if the valuation has been done. No response yet. If I’d known about the EWC cert I’d have told the broker not to bother with a Green mortgage. But he never mentioned it…..

Kimonos88

lantanna said:

Working day 13 no news. Contacted broker today to get them to confirm if the valuation has been done. No response yet. If I’d known about the EWC cert I’d have told the broker not to bother with a Green mortgage. But he never mentioned it…..

Everything is ticked off now but no offer yet. I’m assuming because of this EPC certificate. My broker said if it’s not possible to get the certificate NatWest will just offer the slightly higher non green interest rate.