Natwest Mortgage - Valuation booked

Chrisjames93

Good evening.

We've applied for our mortgage through Natwest and the valuation has just been booked in for two weeks time.

Is it safe to assume the underwriting has been done and subject to the valuation being fine, our application will be accepted?

Can't see why they would book a valuation if they weren't going to approve the underwriting side of things, but naturally I was quite anxious before they confirmed the valuation was booked about whether we would be accepted or not.

Thanks

Thrugelmir

There'll be multiple processess triggered concurrently.  The underwriter will only review and sign off once everything is to hand. The survey is key. Not just a valuation. The lender wants to know that on face value the property offers adequate security for the mortgage advance. Still subject of course to the later checks that the conveyancer undertakes. 

[Deleted User]

Some banks book valuation straight away it doesn’t mean anything I am afraid.

stek2008

Our valuation with NatWest was conducted last Monday. 
They didn't even look at our payslips/bank statements etc until a few days after it was already back. 

So no - not necessarily safe to assume anything. 

Our valuation was at least free - although as a result of it is we now have to pay for a specialist timber & damp report as the valuer noticed there's no damp proof course (old house). 

chrmc

@Chrisjames93 NatWest instruct valuation as soon has the application is put through while they’re waiting for the report they’ll go through the underwriting process.

are you using the online tracker? It can be helpful to see what is in progress / complete from the NatWest side.

Okydoky25

We are currently applying to Natwest for a mortgage. We bank with Natwest. We received a message within a week confirming the Mortgage Application had been approved subject to Valuation. The valuation is booked for this week.

They have had the payslips and they can see our banking already. We have no debts and its a 60%ltv so wasnt expecting any problems tbh. 

What does it say on your mortgage tracker? 

CathyDonnelly

My daughter has had an offer accepted on a house and the surveyor has requested a specialist damp and timber report, can anyone advise if she should be worried the sale might not go ahead, thanks.

Chrisjames93

Thanks for the replies all.

I've just emailed my broker regarding the tracker as I wasn't aware it existed!

Have just noticed a hard search on my credit file from 7th February so hopefully il be put out of my misery and hear something soon!