Nationwide Mortgage Application - How Long?

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  • Wh05apk
    Wh05apk Posts: 2,938 Forumite
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    .............might also be worth posting your (sorry his) landline number as I am sure MSE's wouldn't like to phone a mobile!
    I am a mortgage adviser.
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Senior_Paper_Monitor
    Senior_Paper_Monitor Posts: 2,918 Forumite
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    email and website please (he can have my Nationwide applications) !
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Fishcake
    Fishcake Posts: 2 Newbie
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    Sorry, new to posting on here, I was just so excited to get the mortgage offer wanted to share to give hope to others. I regret posting now after reading the comments made.
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
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    Its ok Kevin - no problem...
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • George_Chicken
    George_Chicken Posts: 1 Newbie
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    I applied for a Nationwide mortgage through my local branch early in July, getting an decision in principle for a £50k loan at 25% ltv. All seemed to be progressing ok, albiet information being requested piecemeal over a number of weeks. The property survey was done mid August. My solicitor did most of their work by early September and I expected imminent completion, but they still awaited the mortgage offer letter.
    I spent the next 11 weeks chasing and chasing NW through their tracking systems, new business teams etc. It was clear my application was not being touched. In early November I was told there was 'just one more thing' - a querie thrown up back in August. I speedily cleared it up and the offer was issued the next day. When my solicitor received thier copy a week later (!) a mistake was noticed in the purchase price, invalidating it. Another two weeks passed waiting for a revised letter, but none came. After lodging an official complaint, and a flurry of action, I completed my sale on 30th November - thankful that the seller hadnt pulled out.
    I concur with much I have read on the forum: protection of 'the team' that makes the decision, no-one getting back, application sitting ignored. Everyone hides behind systems - and from responsibility. NW have acknowledged their poor service and apologised - and offered a derisory sum in compensation. I am currently considering taking it further - if I can find the energy!
  • Goldiegirl
    Goldiegirl Posts: 8,805 Forumite
    First Anniversary First Post Rampant Recycler Hung up my suit!
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    It generally depends on how much underwriting the application needs

    If it's an existing customer and low LTV, the only thing the lender may need to to get a valuation.

    If it's a new customer and high LTV, they may need more things to help them make their decision, such as payslips, references and bank statements. The more info that is needed, the longer the underwriting process can take.
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
  • Vortex1
    Vortex1 Posts: 59 Forumite
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    Sorry to hear of your problems, it must be very frustrating! Mine by contrast took 12 days (from memory) from application to offer with NW, so it would appear they are not consistent with their approach.
  • FirstTimeBuyer1_2
    FirstTimeBuyer1_2 Posts: 1 Newbie
    edited 16 July 2013 at 9:47AM
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    I've just begun my mortgage app process with nationwide (via a broker); received a text from nationwide on 12th July confirming that my application has been received. The broker advised that nationwide are very busy at the moment, so i will update as and when things happen...

    FYI i'm new to nationwide (also first time buyer), i submitted all required paperwork my broker asked for prior to mortgage app. i already had a DIP from them a few weeks prior.
  • JustAnotherSaver
    JustAnotherSaver Posts: 6,709 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
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    Any news from those who never posted back ... or are they still waiting...?
  • bagofchips
    bagofchips Posts: 33 Forumite
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    I am totally blown away with the service I have received from the Nationwide and wanted to post up on this thread to give hope to others!

    Monday 17th March - Decision in Principle

    all paperwork had been uploaded via my mortgage broker and nothing extra requested.

    Wednesday 26th told to submit full application.........text messages now received from Nationwide at 1242 saying they have received my full application.

    1508 text received WITH MY MORTGAGE OFFER!!!!!!!!!!!!!!!!!

    No survey done - am assuming they done a desktop valuation as this is for a remortgage. I am totally blown away and over the moon!!!
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