NatWest Intermediary Solutions will instruct valuations the day the mortgage application is submitted to speed up the process.
NatWest Intermediary Solutions will instruct valuations the day the mortgage application is submitted to speed up the process.
The change will take effect for residential and buy-to-let applications up to £500,000 from Monday 7 March.
The lender said this it will result in offers being made three working days quicker.
Sarah Taylor, service development manager at NatWest Intermediary Solutions, said: “The introduction of the earlier valuation instruction will make a real difference to the time it takes to send a customer an offer.
“This is, of course, dependent on brokers sending in the correct supporting documentation to enable our underwriters to fully assess the application. We will provide customers with a full refund if their applications are declined on the grounds of affordability or credit scoring or where we cannot lend the full amount requested due to affordability issues.”
NatWest ran a three month pilot scheme to refine the process.
