NatWest Mortgage Timescale 2021

Mrs6653

That’s not good… we are in the same boat here too, Hubbie is self employed. Hopefully it gets sorted for you soon. 

Mimi1983

Spoke to my broker she says she's going to call all the lenders her clients are with and get them to speed things up even though only a few hours left to the long weekend. Maybe that will include others on this thread!

lauralooo

SlinkyWeevil said:

So we are now 15 working days since application.  One employed, one self employed sole trader.  Broker has said NatWest are repeatedly requesting business bank account statement for the self employed, but as a sole trader no legal requirement for a business bank account so all transactions go through the current account (especially as turnover is small).  Broker has apparently told them this but they keep responding they need a business bank account.  Anyone else found themselves in a similar situation?  We’re feeling frustrated as we now seem stuck. 

We received our mortgage offer from NatWest a couple of weeks ago. My husband is also a sole trader. He doesn’t have business bank accounts, he uses his current account and NatWest asked where business accounts not available/used to confirm that they are not applicable, which the broker did and that wasn’t questioned again.

The evidence he had to provide was: tax over view, tax calculation, SA100 for the last 2 years and his last 3 months bank statement and ID. 

Hope this helps. 

SlinkyWeevil

lauralooo said:

SlinkyWeevil said:

So we are now 15 working days since application.  One employed, one self employed sole trader.  Broker has said NatWest are repeatedly requesting business bank account statement for the self employed, but as a sole trader no legal requirement for a business bank account so all transactions go through the current account (especially as turnover is small).  Broker has apparently told them this but they keep responding they need a business bank account.  Anyone else found themselves in a similar situation?  We’re feeling frustrated as we now seem stuck. 

We received our mortgage offer from NatWest a couple of weeks ago. My husband is also a sole trader. He doesn’t have business bank accounts, he uses his current account and NatWest asked where business accounts not available/used to confirm that they are not applicable, which the broker did and that wasn’t questioned again.

The evidence he had to provide was: tax over view, tax calculation, SA100 for the last 2 years and his last 3 months bank statement and ID. 

Hope this helps. 

Thank you, that is a massive help. I’ll follow up with my broker on Monday and find out how he’s getting on and advise him to say the same if he’s still having issues.  We’ve already supplied him with all the paperwork above, so fingers crossed it will get sorted! 

lauralooo

SlinkyWeevil said:

lauralooo said:

SlinkyWeevil said:

So we are now 15 working days since application.  One employed, one self employed sole trader.  Broker has said NatWest are repeatedly requesting business bank account statement for the self employed, but as a sole trader no legal requirement for a business bank account so all transactions go through the current account (especially as turnover is small).  Broker has apparently told them this but they keep responding they need a business bank account.  Anyone else found themselves in a similar situation?  We’re feeling frustrated as we now seem stuck. 

We received our mortgage offer from NatWest a couple of weeks ago. My husband is also a sole trader. He doesn’t have business bank accounts, he uses his current account and NatWest asked where business accounts not available/used to confirm that they are not applicable, which the broker did and that wasn’t questioned again.

The evidence he had to provide was: tax over view, tax calculation, SA100 for the last 2 years and his last 3 months bank statement and ID. 

Hope this helps. 

Thank you, that is a massive help. I’ll follow up with my broker on Monday and find out how he’s getting on and advise him to say the same if he’s still having issues.  We’ve already supplied him with all the paperwork above, so fingers crossed it will get sorted! 

Fingers crossed - I know the wait is agonising. We weren’t asked for anything further and they didn’t ask any questions. After they requested the SA100, they asked for proof of ID for him and that was that.

Mimi1983

Review of payslips and sa forms ticked since yesterday morning. How likely is it they'll ask for statements or more info at this point since valuation is done too?

Mw3hgd

All my stuff has been ticked a while and the mortgage was down valued, even whilst dealing with that they still ask for more information despite the boxes being ticked for a while so I don’t think that’s really an indication of anything.

Mrs6653

I’ve noticed a lot of people have had valuation dates almost immediately after application. Ours went in on 25.5.22 and nothing as yet other than a credit check and notice that they have our documents for review. Is this the same for anyone else ? 

alanyau88

My application went in on 24.05.22 and had two appointments with Connells Surveyors cancelled due to sickness.  Re-scheduled to the 15.06.22 their earliest date.  Hopefully no more cancellations.  Compared to E-Surv, Connells is poor.  I doubt I would use them again if given the choice.

Mimi1983

We had the valuation booked in soon after the application was received by them
They didn't ask for more docs until we'll over a week after that and now everything ticked but nothing back from them. The wait is something else!