NatWest Mortgage Timescale 2021

vmguru

Mrs6653 said:

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

From me they  requested a SA302 and SA100 at application stage. it's the first working day after a extra long bank holiday weekend. I am still waiting for them to make a decision my additional borrowing application.

I regret making the application for further borrowing with Natwest I thought it would be a quick and fast application however I was very wrong. They have requested so much information SA302, SA100, personal bank statements, business bank statements for 3 months and then 12 months, quotations for the building work I am using the additional funding for, lots of questions about my statements, lots of questions why I want the additional borrowing for, this is a buy to let mortgage! so the rules normally more relaxed from lenders however not with Natwest.

I am an existing customer and  it's been over 1 month now I would have changed lenders if I knew Natwest is so bad and slow! anyway I will just have to wait now and see what the outcome is. I don't plan to carry on using Natwest longer term as a property investor it's not a suitable lender for my circumstances

it amazes me Natwest happy to give you a buy to let mortgage but won't count all my property income into calculations for affordability? 

SlinkyWeevil

Spoken to our broken this morning.  Sounds like NatWest have finally stopped asking for a business bank account statement and accepted the current account, but have said we’re in a queue to go to underwriters and it won’t be looked at until some time next week.  Good news is the mortgage valuation meets what we’ve offered, so just a waiting game for us now to see what underwriter says. 

DZ1809

Finally just had the email to say our mortgage has been approved😅 fingers crossed for you all hope you get your approvals through soon!

SlinkyWeevil

DZ1809 said:

Finally just had the email to say our mortgage has been approved😅 fingers crossed for you all hope you get your approvals through soon!

Congrats! Curious to know what your total timeframe has been in working days from application to offer? 

Mimi1983

DZ1809 said:

Finally just had the email to say our mortgage has been approved😅 fingers crossed for you all hope you get your approvals through soon!

Well done!
What did they ask you for and what was the progress on your tracker?
They’ve had my SA for over a week all ticked and said nothing else. Broker hasn't got any info either.  I'm employed but have additional income and that's all the docs they've asked for plus payslips

DZ1809

SlinkyWeevil said:

DZ1809 said:

Finally just had the email to say our mortgage has been approved😅 fingers crossed for you all hope you get your approvals through soon!

Congrats! Curious to know what your total timeframe has been in working days from application to offer? 

We submitted our application 10/05 and received our offer today (06/06) so a total of 19 working days approximately, baring in mind the long weekend just there as well😊

DZ1809

Mimi1983 said:

DZ1809 said:

Finally just had the email to say our mortgage has been approved😅 fingers crossed for you all hope you get your approvals through soon!

Well done!
They’ve had my SA for over a week all ticked and said nothing else. Broker hasn't got any info either.  I'm employed but have additional income and that's all the docs they've asked for plus payslips

Our broker had to chase them up a good few times as they kept giving us different excuses and dates that they would have things completed for

vmguru

DZ1809 said:

SlinkyWeevil said:

DZ1809 said:

Finally just had the email to say our mortgage has been approved😅 fingers crossed for you all hope you get your approvals through soon!

Congrats! Curious to know what your total timeframe has been in working days from application to offer? 

We submitted our application 10/05 and received our offer today (06/06) so a total of 19 working days approximately, baring in mind the long weekend just there as well😊

Congrats, I submitted my application on 05/05, I did get a request for more information just before the bank holiday weekend which I have given them so just waiting for them to have a look at the further information they requested. The crazy thing for me is this is additional borrowing application as an existing customer on a buy to let mortgage but they treating me like a new customer havin through all the hoops etc I would have been better of going with a different lender!

DZ1809

vmguru said:

DZ1809 said:

SlinkyWeevil said:

DZ1809 said:

Finally just had the email to say our mortgage has been approved😅 fingers crossed for you all hope you get your approvals through soon!

Congrats! Curious to know what your total timeframe has been in working days from application to offer? 

We submitted our application 10/05 and received our offer today (06/06) so a total of 19 working days approximately, baring in mind the long weekend just there as well😊

Congrats, I submitted my application on 05/05, I did get a request for more information just before the bank holiday weekend which I have given them so just waiting for them to have a look at the further information they requested. The crazy thing for me is this is additional borrowing application as an existing customer on a buy to let mortgage but they treating me like a new customer havin through all the hoops etc I would have been better of going with a different lender!

Aww that’s such a pain. We were told last week that quite a few lenders are bad with wait times just now! Will all be worth it in the end tho it’s just frustrating not knowing where you stand with things😅

Channy8

22 Feb               DIP received
5 April                Offer accepted
29 April               Valuation
5 May                  Applied for Mortgage offer
16 May                 Lender asked questions regarding some of my transcations on bank statements and asked for more documents

17 May                  I replied Lender

17 May                  I instructed solictors to start searches

25 May                  I paid product fee

6 June                   no update yet