NatWest Mortgage Timescale 2021

Mimi1983

Also is this Saturday classed as a bank holiday or not? Will they be open?

Mrs6653

alanyau88 said:

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.

Connells are the estate agents for help vendor, and they have been pretty poor! They wouldn’t formalise the sale agreement until an appointment with their broker and initiated I may loose the sale if I continued to go with NatWest via my broker. It got sorted on the end but they were not happy.

SlinkyWeevil

Mrs6653 said:

alanyau88 said:

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.

Connells are the estate agents for help vendor, and they have been pretty poor! They wouldn’t formalise the sale agreement until an appointment with their broker and initiated I may loose the sale if I continued to go with NatWest via my broker. It got sorted on the end but they were not happy.

I don’t understand how estate agents are allowed to push their own mortgage advisor.  It’s a major conflict of interest.  They work solely and exclusively for the seller so it would never be in their interest to help the buyer secure the best deal.  Our solicitor made very clear to us at the start of the process we are not allowed any direct contact with the vendors solicitors for exactly the reason of conflict of interest and us not being their client so I don’t understand why estate agents are allowed to push unwanted services onto the buyer! 

Mrs6653

SlinkyWeevil said:

Mrs6653 said:

alanyau88 said:

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.

Connells are the estate agents for help vendor, and they have been pretty poor! They wouldn’t formalise the sale agreement until an appointment with their broker and initiated I may loose the sale if I continued to go with NatWest via my broker. It got sorted on the end but they were not happy.

I don’t understand how estate agents are allowed to push their own mortgage advisor.  It’s a major conflict of interest.  They work solely and exclusively for the seller so it would never be in their interest to help the buyer secure the best deal.  Our solicitor made very clear to us at the start of the process we are not allowed any direct contact with the vendors solicitors for exactly the reason of conflict of interest and us not being their client so I don’t understand why estate agents are allowed to push unwanted services onto the buyer! 

I agree. They said that NatWest would take too long and they would have to speak to the vendor, they then delayed accepting the sale until I had booked an appointment with their mortgage broker who coincidently would be the one to certify our ID etc. I didn’t get the memo of sale accepted until 8 days after the vendor accepted the offer and I had told them I was sticking with NatWest and cancelled the appointment and amazingly after being told I had to bring my ID in personally, they the. Verified it by an app 

vmguru

I had a response back from Natwest  asking lots of questions about my income, requesting last 12 months business statements, what I want the additional borrowing for etc too many questions for a Buy-to-let mortgage now if this was somebody like the The Mortgage Works the process is easier, less questions and only look at the rental income for calculations. I personally wouldn't recommend Natwest now that I am self employed just too fussy and picky!

Self employed and an existing customer looking for additional borrowing on a buy-to-let product.
Application 5th May 2022
Valuation   11th May 2022
Natwest got my Valuation back on 13th May 2022
Natwest underwriting lots of questions 30th May 2002
Responded back to Natwest question on 1st June 2022
Now waiting again lets see what they ask next? or do they decline or approve 
 
On 19 working days after application and 15 working days after valuation.

vmguru

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. 

Natwest underwriting somewhat retardish will ask super dumb questions, even through I have given them my SA302 and SA100 with all the information on it however they will carry on picking out at things unnecessarily. Being a small business owner paperwork, bank statements, being organised isn't always a strong point but whatever they need is all in SA302 and SA100 as proof! absolute muppets.

Current server levels for Natwest should respond back to the documents within 3 working days. 

Current Processing Times (working days)

Pre-Underwriting

Day 3

Assessing packaging, instructing valuations and taking fees

Underwriting

Day 9

New business and Product Transfers with ABDO

Assess Further Information

Day 3

Documents submitted date

-Last updated: 01/06/2022 11:35am

Mrs6653

Back to business as usual tomorrow 😀

Mrs6653

Mrs6653 said:

Back to business as usual tomorrow 😀

Or the day after even … doh! 

Mimi1983

I thought they might have been open today but that's fine as long as they're fully rested to approve all our mortgages on Monday! 😆 

Mrs6653

NatWest appear well recovered from the long weekend… request through this morning for Sa100 😀