Natwest Mortgage Timescale 2022

Viperex

Velar19 said:

Viperex said:

Actually going to the house . just want it to end and give offer they are so slow

M valuation was done on 30th September (a physical valuation) and the report was sent the same day.
Valuation all ok (we are only borrowing a very small amount against our highly valued property) and we have no offer as yet!!
We were told last Monday (24th Oct) that an offer would be sent "within 5 days" but nothing has been received as yet. The waiting is just awful.

Its awful waiting . just want to chill and relax make plans but natwest seem to take the joy out of it 

Velar19

Viperex said:

Velar19 said:

Viperex said:

Actually going to the house . just want it to end and give offer they are so slow

M valuation was done on 30th September (a physical valuation) and the report was sent the same day.
Valuation all ok (we are only borrowing a very small amount against our highly valued property) and we have no offer as yet!!
We were told last Monday (24th Oct) that an offer would be sent "within 5 days" but nothing has been received as yet. The waiting is just awful.

Its awful waiting . just want to chill and relax make plans but natwest seem to take the joy out of it 

It is 5 weeks today since we applied (via a broker) so I can't quite believe I am still waiting for the offer to materialise. I genuinely never expected it to take this long.

Big_Rock

Viperex said:

Looks like natwest are getting a survey done on the house tomorrow how soon would they get the report ??

Call L&G ,  in most cases they are surveyors and they will confirm if survey done and sent ... not much of a benefit but at-least put mind on rest if report is done and sent. 

Usually same day or next max is 5 days.  

Ayla172

Ayla172 said:

Could I check with someone who has maybe gone through this with a broker or has had further information from Natwest - does this being ticked mean the valuation has been done and was satisfactory or are we still waiting for them to assess?
There are no open or pending steps now so just unsure what the tick actually means. 

Thank you! 

Just received our offer for anyone else waiting and applied around the same time this was our timeline: 

29/09: Applied online ourselves
06/10: Tracking number received, starts working next day
12/10: Documents requested and uploaded same day
20/10: Documents reviewed and approved
31/10: Valuation instructed and completed same day (apparently)
01/11: Offer received

Both employed, 80% LTV. 

Have to give credit to NatWest, the process was fairly painless for us and 1 month start to finish is not far off the timelines we had when applying for our last mortgage in Feb 2020. 

Good luck to anyone waiting, everything crossed! 

Big_Rock

Ayla172 said:

Ayla172 said:

Could I check with someone who has maybe gone through this with a broker or has had further information from Natwest - does this being ticked mean the valuation has been done and was satisfactory or are we still waiting for them to assess?
There are no open or pending steps now so just unsure what the tick actually means. 

Thank you! 

Just received our offer for anyone else waiting and applied around the same time this was our timeline: 

29/09: Applied online ourselves
06/10: Tracking number received, starts working next day
12/10: Documents requested and uploaded same day
20/10: Documents reviewed and approved
31/10: Valuation instructed and completed same day (apparently)
01/11: Offer received

Both employed, 80% LTV. 

Have to give credit to NatWest, the process was fairly painless for us and 1 month start to finish is not far off the timelines we had when applying for our last mortgage in Feb 2020. 

Good luck to anyone waiting, everything crossed! 

Congratulations ... 

Big_Rock

Can someone remember or check how long it took for bank statements, wages slips ticked.

I have it on review since 24th Oct .. 8 days now and this is not additional docs, were submitted with full application on 11/10

Big_Rock

AtPanAtPan said:

Big_Rock said:

This may help... Official processing time as of  27th Oct 2022

Could I check I’m understanding this correctly? Thanks for posting 

- underwriting Day 20 means 20 working days following submission

- assess further information Day 15 means 15 extra working days every time they ask you for further info and you submit it?

I am struggling to be patient with NatWest and understanding this will hopefully help. We submitted extra info on 12th Oct and my broker said it would be 7 working days to hear back. Ofc we are here on 27th Oct no further forward…

thanks

Has it moved for you? .. I am around the same timeline as your so trying to figure it out ;-) .

Natwest testing the patience  LOL 

Viperex

As expected rates will rise today , its all over the news. I have not received my offer yet as its been going through NatWest Slow process . is there a chance i could even lose the deal i had as i have not had a offer? or as it has started that's the deal i have ?

Worried about bank rise   

Big_Rock

Viperex said:

As expected rates will rise today , its all over the news. I have not received my offer yet as its been going through NatWest Slow process . is there a chance i could even lose the deal i had as i have not had a offer? or as it has started that's the deal i have ?

Worried about bank rise   

Was it fixed or tracker ?

Fixed = No issue 
Tracker = possible but very less chance 

Until and unless you were too tight on affordability you won’t loose on 0.75 predicted increase 

I would image they have stress test built it to give a bit of roam. 

Viperex

Big_Rock said:

Viperex said:

As expected rates will rise today , its all over the news. I have not received my offer yet as its been going through NatWest Slow process . is there a chance i could even lose the deal i had as i have not had a offer? or as it has started that's the deal i have ?

Worried about bank rise   

Was it fixed or tracker ?

Fixed = No issue 
Tracker = possible but very less chance 

Until and unless you were too tight on affordability you won’t loose on 0.75 predicted increase 

I would image they have stress test built it to give a bit of roam. 

Yes  fixed 5 years. Natwest.   Should be good. Getting worried 😯