NatWest Mortgage Application Timescale 2023

ohgoodgrief

It seems to have got slower since we put our application in - I’m guessing people are on holiday plus the influx of people wanting to refix 6 months early 

carl2303

ohgoodgrief said:

RedCannon94 said:

Finally had the doc reviewed. Any idea how long it should take for the offer to arrive? (All docs approved)

Once all our documents were reviewed it took 48 hours I think?

What documents did you have to submit? I’m planning to make an application next week. Is it just main bank account, payslips & P60?

ohgoodgrief

carl2303 said:

ohgoodgrief said:

RedCannon94 said:

Finally had the doc reviewed. Any idea how long it should take for the offer to arrive? (All docs approved)

Once all our documents were reviewed it took 48 hours I think?

What documents did you have to submit? I’m planning to make an application next week. Is it just main bank account, payslips & P60?

Ours was a joint application with one employed, one self employed so slightly more complex. Also went through a broker - but for employed they didn’t want P60, just three months payslips, three months bank statements. 

RedCannon94

carl2303 said:

ohgoodgrief said:

RedCannon94 said:

Finally had the doc reviewed. Any idea how long it should take for the offer to arrive? (All docs approved)

Once all our documents were reviewed it took 48 hours I think?

What documents did you have to submit? I’m planning to make an application next week. Is it just main bank account, payslips & P60?

Slips, Recent Statements from your main account and P60 should do. Ensure that all docs provided have the correct address details and ensure your broker keys everything in correctly. There's currently a 8-10 day wait just to get to underwriters and additional 10 day wait for additional documents to be reviewed so it's important everything is perfect first time around. There's no escalation process with Natwest either just be thorough. 

Wozza85

Put application in 5th June, sent off documents and had to re-send a few due to questions around them, had valuation come back lower (we are taking money out for work) so changed the amount we can take out. 

Last week 
Natwest asked about the work being carried out and if the new loan amount is enough for the work, which it is.

Asked for credit card to be cleared and statement showing this before offer can be sent out. This will take place next week, so hopefully we get the offer after this. They are currently working on a 10 day turnover.

MrsSpaniel

We’ve had our mortgage approved verbally and told it awaits the offer. We’ve now been told the valuation will be instructed. It’s taken almost 6 weeks to get to this point. Both full time workers and FTB. 

How often do they do desktop valuations? Im presuming this will be quicker than in person?

When did the offer come after this?

lis1320

Our first mortgage offer came through very quickly back in March, applied via broker on a Saturday and offer came through on the following Tuesday, valid until mid September. 

We have since pulled out of that purchase due to ground rent issues and now found a new property. We are buying from a couple who is purchasing a new build and our broker thinks NatWest may be able to extend our offer by 3 months as even though we aren’t the ones getting a new build, our sellers are.

Broker requested extension on Monday 3rd July and by Monday 10th he told us it was with underwriting. Hoping we have a decision soon as we have an exchange deadline to hit

tsmim

Hi, sorry I posted on the 2022 one by accident! this is where we’re at- does anyone know if this is a good sign? We’re very anxious as we have been refused by Nationwide and if this is rejected we will probably pull out. 

90% LTV, 4.1x income, 1x employed with a perfect 999 credit score and majority of the income, 1x stay at home parent with child’s DLA & carers allowance but 2 defaults from 3+ years ago. The defaults and excessive overdraft use was what Nationwide took issue with but our broker is more hopeful for NatWest, overdraft has been cleared and defaults were long paid off, and the extenuating circumstances explained, but we know it still doesn’t look good. They haven’t asked for anything extra and hard searches were done 19/07 

tsmim

tsmim said:

Hi, sorry I posted on the 2022 one by accident! this is where we’re at- does anyone know if this is a good sign? We’re very anxious as we have been refused by Nationwide and if this is rejected we will probably pull out. 

90% LTV, 4.1x income, 1x employed with a perfect 999 credit score and majority of the income, 1x stay at home parent with child’s DLA & carers allowance but 2 defaults from 3+ years ago. The defaults and excessive overdraft use was what Nationwide took issue with but our broker is more hopeful for NatWest, overdraft has been cleared and defaults were long paid off, and the extenuating circumstances explained, but we know it still doesn’t look good. They haven’t asked for anything extra and hard searches were done 19/07 

MrsSpaniel

Valuation finally booked in for 27/07, how long have people waited for the offer after the valuation?

it’ll be 8 weeks since submitting the application and I’m going crazy, seems to be no reason for the delay and a straight forward FTB case.