NatWest Mortgage Timescale 2021

Camboudica

ashleighflint said

Self employment underwriting has come down to 15 days now! 

You're right, I've just found Natwest's broker service level guides, and it says - 

Current Processing Times (working days)

Pre-Underwriting

Day 2

Key application, collect fees, and instruct valuations

Underwriting

Day 15

New business and Product Transfers with ADBO

Assess Further Information

Day 8

Documents submitted date

MrCarrot

Underwriting has come down from 16 days to 15 days, but assess further information has gone up from 7 days to 8 days.

It says 36% of applications go to offer within 14 days or less, which means 64% of applications are taking 2+ weeks.

Danieljw90

We currently have an offer and going through conveyancing

does anyone know how likely it is NatWest will pull out in light of what’s happening? 

ashleighflint

I’ve just had an update from my mortgage broker after she spent over an hour to get through. 

Valuation came back at price asked. 

My mortgage broker was told that there isn’t going to be an update now till 17th October for Underwriting. 

Just a waiting game now 

999cookies

Still no update for us since applying through broker on the 16th and we're on working day 9. Tracker says documents are still under review and no additional information has been requested. Getting a bit nervous now especially since I know we'll have to supply a gifted deposit letter and I read that all applications where documentation is outstanding will be lapsed after 20 days and broker is now on holiday...

Camboudica

999cookies said:

Still no update for us since applying through broker on the 16th and we're on working day 9. Tracker says documents are still under review and no additional information has been requested. Getting a bit nervous now especially since I know we'll have to supply a gifted deposit letter and I read that all applications where documentation is outstanding will be lapsed after 20 days and broker is now on holiday...

Is there nobody else at the brokers covering for them in their absence? If you need to submit additional information then surely someone there can do it while they're off, or maybe the lender will accept it directly from you given the broker is unavailable?

ashleighflint

Oh no! 

Have you had the valuation done yet? I’m so worried about what’s going on in the news, that I just think they might just reject because of what’s going on. 

Camboudica

ashleighflint said:

Oh no! 

Have you had the valuation done yet? I’m so worried about what’s going on in the news, that I just think they might just reject because of what’s going on. 

Me too. But as everyone keeps telling me, they need to lend money to make money, so fingers crossed for us all. 

999cookies

There is someone who would be in touch with us in case NatWest wanted anything thankfully! But it's been quiet since the day of submission which worries me quite a bit...

We're in Scotland so I'm not sure it works the same way for us - I think they take the value from the home report as long as it's less than 3 months old. Ours was outdated so the estate agent called us last week to let us know they would be renewing it on Tuesday, but I'm not sure if this is requested by the lender or our solicitor.

The wait is killing us!

ashleighflint

I’m really concerned this morning. 

ClearScore update all week has said that a hard search will be added from NatWest. This morning I got a email saying my new credit score is available and there’s no sign of this NatWest hard search, it’s like it’s been deleted before it’s been added. My partners went on last week. 

Checked all three credit scores and the only one is Experian showing a soft search on the day we applied. 

Should I be worried? As I do have 1 late payment from 7 months ago. It was at 6 months when I applied. 

People are saying that they got refused a mortgage on credit score and no hard search is showing. My score is very good on all credit reports! 

Sorry but I just can’t stop worrying now and wondering if this has happened to anyone else.