NatWest Mortgage Timescale 2021

Mw3hgd

So everything got ticked off and then the house was down valued so NatWest have said they can’t proceed with It as it stands.  Now I have to try to renegotiate the price down to be able to proceed.  This is house number three that has had issues at the valuation stage 🤦🏼‍♂️

Mrs6653

Sorry to hear that. It’s such a minefield when the market is as it is currently.

vmguru

Mrs6653 said:

Our application went in on 24th, credit check is done and now waiting for the underwriters. Husband is a sole trader, NatWest  have only asked for the last bank statement, payslip and tax returns. Is this a good sign? 

Yes good sign, I got asked for tons of stuff and I am already a customer with Natwest, I am getting additional borrowing I would have thought it would have been a lot faster but they are very slow this might be because I went directly to them not via a broker.

thxultra73

Still waiting on our decision too
SA 100’s we’re requested Monday and valuation was done Monday too. 

We’re waiting patiently but feel like NatWest have got one over on us. We believe our house is worth 360000+, houses like ours have been selling above that in our area as late as last week. Our valuation came in at 330000. As it was a physical valuation there is no appeal process. This has no forced us to change to a 80% LTV at a higher rate 😞

Mrs6653

thxultra73 said:

Still waiting on our decision too
SA 100’s we’re requested Monday and valuation was done Monday too. 

We’re waiting patiently but feel like NatWest have got one over on us. We believe our house is worth 360000+, houses like ours have been selling above that in our area as late as last week. Our valuation came in at 330000. As it was a physical valuation there is no appeal process. This has no forced us to change to a 80% LTV at a higher rate 😞

thxultra73 said:

Still waiting on our decision too
SA 100’s we’re requested Monday and valuation was done Monday too. 

We’re waiting patiently but feel like NatWest have got one over on us. We believe our house is worth 360000+, houses like ours have been selling above that in our area as late as last week. Our valuation came in at 330000. As it was a physical valuation there is no appeal process. This has no forced us to change to a 80% LTV at a higher rate 😞

Does the SA100 have to be posted or can you print it off? My husband is abroad and I’m hoping I don’t need to get hold of one

Anna_HB

Mrs6653 said:

thxultra73 said:

Still waiting on our decision too
SA 100’s we’re requested Monday and valuation was done Monday too. 

We’re waiting patiently but feel like NatWest have got one over on us. We believe our house is worth 360000+, houses like ours have been selling above that in our area as late as last week. Our valuation came in at 330000. As it was a physical valuation there is no appeal process. This has no forced us to change to a 80% LTV at a higher rate 😞

thxultra73 said:

Still waiting on our decision too
SA 100’s we’re requested Monday and valuation was done Monday too. 

We’re waiting patiently but feel like NatWest have got one over on us. We believe our house is worth 360000+, houses like ours have been selling above that in our area as late as last week. Our valuation came in at 330000. As it was a physical valuation there is no appeal process. This has no forced us to change to a 80% LTV at a higher rate 😞

Does the SA100 have to be posted or can you print it off? My husband is abroad and I’m hoping I don’t need to get hold of one

You need to login to his self assessment on gov.uk and you can print it yourself or save it. I did it for my husband when Natwest requested it 

vmguru

I think underwriting is very busy we are on 16 working days after application and 12 working days after valuation. lets see how long this takes 

vmguru

I have just had a look at the Natwest SL's (Service Levels) webpage  and the following is help in understanding things better.

We're currently experiencing high call volumes, Please do not contact us within the first 12 working days after you submit an application, as we’ll be assessing the application.

Current Processing Times (working days)

Pre-Underwriting - 3 Days (Assessing packaging, instructing valuations and taking fees)

Underwriting - (9 Days)  (New business and Product Transfers with ABDO)

Assess Further Information 4 Days (Documents submitted date)

Cases offered within 8 to 14 days - 56%  Average speed in this group = 11 days

Last updated: 27/05/2022 10:25am

webjaved

Mw3hgd said:

So everything got ticked off and then the house was down valued so NatWest have said they can’t proceed with It as it stands.  Now I have to try to renegotiate the price down to be able to proceed.  This is house number three that has had issues at the valuation stage 🤦🏼‍♂️

Unlucky. Did they specify why they down-valued the property?

Mw3hgd

webjaved said:

Mw3hgd said:

So everything got ticked off and then the house was down valued so NatWest have said they can’t proceed with It as it stands.  Now I have to try to renegotiate the price down to be able to proceed.  This is house number three that has had issues at the valuation stage 🤦🏼‍♂️

Unlucky. Did they specify why they down-valued the property?

No reason given other than that’s what they believed to be the fair market value. Having done some research it seems quite common for properties to be down valued currently as lenders are getting more nervous about the changing market 😬