NatWest Mortgage Timescale 2021

SlinkyWeevil

ajharpa said:

Applied last Tuesday (7th). NatWest have completed the payslip check, they have also instructed valuation which has been booked for 23rd. However no hard search has been carried out yet, is that normal?

We were both hard searched the day of our application, but it took a week to actually show up on my credit report 

beckstas-money

vmguru said:

beckstas-money said:

Offer received today woohooo!

9th may full application submitted. Applied directly  

Congratulations! are you employed or self employed? 

Employed. Joint application with partner. Quite complicated application as we had a grant for our deposit. They queried a lot with my contract as i receive a travel allowance that was calculated as part of our allowance

Giggidy

onemouseplace said:

We submitted our bank statements as pdfs downloaded from online banking via our broker and these seem to have been ok?

Having had radio silence, we heard from our broker this morning about one additional document they wanted before final checks (letter about the IO part of the mortgage).  I think we have a desktop valuation booked for sometime this week as well.

27/5 - Application Submitted
14/6 - Request for Additional documents

The bank statements uploaded as PDF's were fine, they just wanted updated ones after a week. The payslip arrived with them today, and after a lot of shouting, they finally submitted all the documents to Natwest and was given a timeline of 12 days for them to check through it. We are in same boat as you with regards to being reluctant to instruct solicitor to do legals and searches until we get the offer, but thinking we may have to bite the bullet and start it soon-ish if its going to be another 2 weeks just to check docs and possibly ask for more, and more. 

Our desktop valuation was done pretty quickly, and came back at the price we offered, so one silver lining.

Our timeline:

26/05 Application sent via Broker
27/05 Hard searches
30/05 Desktop Valuation instructed and submitted documents to broker
07/06 Valuation report received
14/06 Broker finally submitted documents to lender

Good luck with the valuation!

onemouseplace

Timeline:
27/5 - Application Submitted
14/6 - Request for Additional documents
15/6 - confirmation that desktop valuation carried out and came back as expected.

So, when the additional document is approved (confirmation that we will sell the property and pay back the interest only part of the mortgage from equity at the end of the term if we haven't cleared it before) then it's final checks apparently. 

aleph_0

Since I've been lurking on this group, thought I would add my data point in.

I don't know if this affects any of the timelines, but my application should have been very much a non-brainer on the underwriting side. Also, looks like Natwest request some documents piecemeal, but my broker has been very efficient responding to each question/request (usually within a few hours).

25/05 - Application Submitted
07/06 - Valuation Carried Out
09/06 to 13/06 - Various document requests
14/06 - Mortgage Approved
15/06 - Offer Letter Received

Giggidy

aleph_0 said:

Since I've been lurking on this group, thought I would add my data point in.

I don't know if this affects any of the timelines, but my application should have been very much a non-brainer on the underwriting side. Also, looks like Natwest request some documents piecemeal, but my broker has been very efficient responding to each question/request (usually within a few hours).

25/05 - Application Submitted
07/06 - Valuation Carried Out
09/06 to 13/06 - Various document requests
14/06 - Mortgage Approved
15/06 - Offer Letter Received

Congrats! That came through pretty quick. Have nearly the same timeline as you however our broker has not been as sharp as yours, only submitted documents requested on the 14th, after much ranting from me. 

Good luck with the rest of the process, hope it all goes through swiftly for you

Mimi1983

vmguru said:

aleph_0 said:

Since I've been lurking on this group, thought I would add my data point in.

I don't know if this affects any of the timelines, but my application should have been very much a non-brainer on the underwriting side. Also, looks like Natwest request some documents piecemeal, but my broker has been very efficient responding to each question/request (usually within a few hours).

25/05 - Application Submitted
07/06 - Valuation Carried Out
09/06 to 13/06 - Various document requests
14/06 - Mortgage Approved
15/06 - Offer Letter Received

Well done! I am still waiting 

Timeline:
01/05 - Documents given in advance of Application Appointment.
05/05 - Application submitted
11/05 - Valuation
27/05 - Request for addition documents 
10/06 - Called for an update was told its approved with underwriting however still processing etc
15/06 - Checked again its still with underwriting being processed no mention of it being approved and try calling back at the end of week if you want more updates
16/06 - My application is the black hole and just living in hope

If it goes over their timescales they say they put a note to rush it more. Did they ever say that to you?

vmguru

Mimi1983 said:

vmguru said:

aleph_0 said:

Since I've been lurking on this group, thought I would add my data point in.

I don't know if this affects any of the timelines, but my application should have been very much a non-brainer on the underwriting side. Also, looks like Natwest request some documents piecemeal, but my broker has been very efficient responding to each question/request (usually within a few hours).

25/05 - Application Submitted
07/06 - Valuation Carried Out
09/06 to 13/06 - Various document requests
14/06 - Mortgage Approved
15/06 - Offer Letter Received

Well done! I am still waiting 

Timeline:
01/05 - Documents given in advance of Application Appointment.
05/05 - Application submitted
11/05 - Valuation
27/05 - Request for addition documents 
10/06 - Called for an update was told its approved with underwriting however still processing etc
15/06 - Checked again its still with underwriting being processed no mention of it being approved and try calling back at the end of week if you want more updates
16/06 - My application is the black hole and just living in hope

If it goes over their timescales they say they put a note to rush it more. Did they ever say that to you?

I thought I would allow them till end of the week hoping they automatically come back to me without me harassing them too much    Interest rates have gone up today now 1.25% base rate going to get even more busy now with everyone wanting to fix the rates. 

I will chase them morning and ask them about service levels and see if we can push things along 

onemouseplace

Timeline:
27/5 - Application Submitted
14/6 - Request for Additional documents (signed confirmation of how we intend to repay interest only part of the mortgage).
15/6 - confirmation that desktop valuation carried out and came back as expected.
17/6 - offer letter received.

So 3 weeks all in.  I'm pretty pleased with our brokers actually as they were very good at doing a thorough review of our documents prior to them being sent off, which I think helped.

Mrs6653

That’s a great result, congratulations. Mine went in on 24/5 and other than a document request that was uploaded on 6/6 we’ve heard nothing 😏