Nationwide Mortgage Application - How Long?

[Dave Ham]

Cheers Kevin..

Seriously could you not even put a couple of other posts first, just to look less obvious...

[Wh05apk]

.............might also be worth posting your (sorry his) landline number as I am sure MSE's wouldn't like to phone a mobile!

[Senior Paper Monitor]

email and website please (he can have my Nationwide applications) !

[Fishcake]

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]

Its ok Kevin - no problem...

[George Chicken]

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]

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.

[Vortex1]

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.