NatWest Mortgage Timescale 2021

Danieljw90

We have an offer! 

23/08 - full application via Broker (soft check)
24/08 - hard credit check 
26/08 - reviewing payslips 

26/08 - valuation instructed (booked 2nd September) 
05/09 - valuation requesting damp and timber survey 
09/09 - damp and timber survey carried out
12/09 - report found nothing serious 
15/09 - full offer of mortgage 

doglover34

Excellent xx

CLJ2986

doglover34 said:

CLJ2986 said:

doglover34 said:

Finally my mum has her offer!!! 

Finally!! 

I know right, apologies for driving everyone mad! she was driving me crazy!

Waiting that long would have driven me crazy lol she must be so relieved! 

MrCarrot

Sorry, I have't read the whole thread but I came here looking for advice as to how long Natwest are currently taking.  Oddly, it is not myself I am concerned about but my buyer.  They did a desktop valuation 4 weeks ago, which I'm assuming is around the time their application was made.  My buyer's broker keeps chasing them but says they are in a queue and there is a backlog.  I am hoping our chain stays together and there isn't much more of a wait.  Obviously I don't know their exact circumstances, LTV, etc.

doglover34

MrCarrot said:

Sorry, I have't read the whole thread but I came here looking for advice as to how long Natwest are currently taking.  Oddly, it is not myself I am concerned about but my buyer.  They did a desktop valuation 4 weeks ago, which I'm assuming is around the time their application was made.  My buyer's broker keeps chasing them but says they are in a queue and there is a backlog.  I am hoping our chain stays together and there isn't much more of a wait.  Obviously I don't know their exact circumstances, LTV, etc.

There is a backlog, currently at 21 working days to process and possibly longer of they are submit evidence. Unfortunately they are bad for updating the tracker but have faith.

Mine was about 2 weeks and I had the valuation done 1st but mine was a remortgage. My mum was remortgaging and took 4 weeks.

I think most banks are the same and a bit inundated at the most with all the mortgages for rate fix.

MrCarrot

doglover34 said:

MrCarrot said:

Sorry, I have't read the whole thread but I came here looking for advice as to how long Natwest are currently taking.  Oddly, it is not myself I am concerned about but my buyer.  They did a desktop valuation 4 weeks ago, which I'm assuming is around the time their application was made.  My buyer's broker keeps chasing them but says they are in a queue and there is a backlog.  I am hoping our chain stays together and there isn't much more of a wait.  Obviously I don't know their exact circumstances, LTV, etc.

There is a backlog, currently at 21 working days to process and possibly longer of they are submit evidence. Unfortunately they are bad for updating the tracker but have faith.

Mine was about 2 weeks and I had the valuation done 1st but mine was a remortgage. My mum was remortgaging and took 4 weeks.

I think most banks are the same and a bit inundated at the most with all the mortgages for rate fix.

Thanks, the desktop valuation was done 4 weeks ago (about 20 working days ago) so am I right in assuming this would have been at the very start of the process?  Looking at other people's time frames it looks like they might be due to receive their offer any time now?  Allegedly the lender isn't waiting for any documentation or evidence.

doglover34

MrCarrot said:

doglover34 said:

MrCarrot said:

Sorry, I have't read the whole thread but I came here looking for advice as to how long Natwest are currently taking.  Oddly, it is not myself I am concerned about but my buyer.  They did a desktop valuation 4 weeks ago, which I'm assuming is around the time their application was made.  My buyer's broker keeps chasing them but says they are in a queue and there is a backlog.  I am hoping our chain stays together and there isn't much more of a wait.  Obviously I don't know their exact circumstances, LTV, etc.

There is a backlog, currently at 21 working days to process and possibly longer of they are submit evidence. Unfortunately they are bad for updating the tracker but have faith.

Mine was about 2 weeks and I had the valuation done 1st but mine was a remortgage. My mum was remortgaging and took 4 weeks.

I think most banks are the same and a bit inundated at the most with all the mortgages for rate fix.

Thanks, the desktop valuation was done 4 weeks ago (about 20 working days ago) so am I right in assuming this would have been at the very start of the process?  Looking at other people's time frames it looks like they might be due to receive their offer any time now?  Allegedly the lender isn't waiting for any documentation or evidence.

some are at the end and some are at the beginning, if  they have got this far then thats a great sign! good luck

phoenix9

Actually pretty impressed with the timescale in my case despite how bad some others experiences seem to be! New build case which probably speeds up the valuation. 

02/09 - Broker submitted application
06/09 - Confirmation that application was being processed, hard credit search carried out
06/09 - request for additional payslip and P60
12/09 - confirmation that valuation was booked for 15/09
15/09 - valuation carried out 
16/09 - request for clarification on expenses since property is a long distance away from place of work
21/09 - offer issued

ashleighflint

Can’t stop worrying 

20/09 - Broker submitted application 
20/09 - A valuation has been instructed and we are now awaiting your client's survey report.
21/09 reviewing bank statements my payslips and SA302 as my partner is self employed. 

Would appreciate seeing other timescales, and has anyone applied why very good credit rating but several 1 month late on mobile phone contract! Worried as 1 was 7 months ago 

doglover34

Hi, if your broker has got you a DIP, that's a great sign as they would have run the missed payment passed natwest, your broker can reassure you. 

I am a complicated case, I had lots of adverse in the past and was with a subprime lender, i also have a 2019 default with eon from switching , for 2 years I made sure I paid everything on time no issues, we're 60LTV and borrowing additional 10k to pay off all remaining debt. here's my timeline:

03/08 - DIP
03/08 - Application Submitted by Broker
08/08 - Tracker Live with 5 actions
09/08 - Valuation Instructed
10/08 - Valuation Received (Desktop) Ticked
12/08 - All documents approved and ticked
16/08 - Passed to offer
17/08 - Offer