Natwest - 2 part application

beckstas-money

We have applied directly to Natwest today and was advised the application is in two parts. I’ve tried to get a better understanding on the 2nd half but don’t quite get it.

Today covered mainly affordability which we was told we passed.

can you advise what the second half is please?

thanks

Marky4040

yeah not heard of this seems a waste of time to be honest

Anyway, What's the property, how much is it, how much deposit you putting down, what mortgage you picking, have you thought about life insurance etc. .........Submit. Computer says yes / no. 

simon_or

Sorry don't know the answer to your question but assume it's some form of box ticking or form filling?

A 2 part application and all the long appointments sound so pointless. Surely most of this can be done online with a short phone call? I'm just used to doing everything over email with my broker so all this sounds like it's from some bygone era.

Thrugelmir

Be the formal underwriting part, credit checking etc. Due to the current rapidly changing economic climate. Highly possible that NatWest have adopted a screening process to filter applications and minimise costs. 

beckstas-money

 Today call was 45minutes and was told to allow 90 minutes for the 2nd call. We applied a year ago but that house fell through, the process was a lot more straight forward with a 90 minute call to go through affordability and what product we wanted etc

elouber

I’ve also been told this. Offer accepted on property last week, contacted NatWest to get AIP sorted into a full application. Branch explained process is initially one 45 minute video call with adviser, then a subsequent 90 min call. They could only offer me the first call tomorrow, over a week since I contacted them to get the ball rolling!

In the meantime, already submitted all docs requested through their Digidocs system ready for first call tomorrow!

twoLou

I’m sure if you go through a broker they cut down on all this and submit everything on your behalf. In my opinion as a customer, my broker is worth his weight in gold as are the lovely admin staff who chase up everything once a week.
I’ve gone down the do it yourself option many times in the past but life is too short for all of that now!
Many brokers are free you will find.
The best of luck with everything whichever way you choose to apply.

simon_or

Sorry if I'm being stupid, but with such a long winded process, at what point do you actually get a confirmed rate? Will NatWest be able to sort something if you've lost out on the rate from back when you had an offer accepted?

Surely you'd have been better off using a free broker to get an application in for the lower rates available when you had an offer accepted last week?

[Deleted User]

I tried to do it myself with NatWest and was a nightmare. Had to wait a week for appointment to be told he couldn’t understand how my annual salary was calculated on my wage slip - went to a broker who sorted everything out in a 30min call and got access to a lot of different product/ lender options 

beckstas-money

You get tbe rates available on the 2nd call. It really is a simple process. The most annoying part was matching our diaries to the advisors. They credit check you on the call so all of that part you find out then. Just waiting for underwriting now.