Nationwide Mortgage Application - How Long?

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  • smcqis
    smcqis Posts: 862
    First Anniversary First Post Combo Breaker
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    sorry for bringing an old thread back to life but anyone applying through Nationwide lately and if so how long did it take?
  • Whitegloves
    Whitegloves Posts: 46 Forumite
    Got an application in at the moment so will let you know.
  • Rizzy
    Rizzy Posts: 11 Forumite
    I've got an application in through a broker with a sister company of Nationwide, made the full application about 2-3weeks ago, sent all required documents, they have instructed a survey and also asked for another bank statement!!! I'm not sure if that's a good thing or not, there's plenty of money going into the account to cover the mortgage I've applied for so I'm hoping they don't knock me back for something daft. I'll let u know when i get my
    Final offer in writing/ or not.
  • Hi
    We've got a mortgage app in at the min waiting for a decision, its been delt with by a adviser who is excellent but because i dont think we are a straight foreword case its been back and forth to my employer as im only on 3month contracts but have worked there for 3years and my partner also works at the same place on 3month contracts but has only worked there since march. the bank have had reassurance that i have a job for the next year but still waiting for a decision.

    we are applying for a 42% mortgage only, getting really stressed this will be my first house and weve already lost 3 houses through being guzumpt.

    its now gone to the underwriters
    its now just a waiting game'
    application went in end of May beginning of June
    was expecting to know on the 17th June but now they say 22nd June(tomorrow) so will let you Know.

    sorry cant be of much help
  • Hi

    forgot are survey has been done was done 9th of june roughly but havent heard from that, my adviser says that the survey usually comes on the back of the mortgage offer from nationwide.

    hope this bit of info helps.
  • poppy_f1
    poppy_f1 Posts: 2,637
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    i was 4 days last year from application to offer, however im in scotland so they accepted the survey as part of the home report and was only applying for 40% ltv and had sent in all supporting info via broker straight away
  • handytips
    handytips Posts: 372 Forumite
    Rizzy
    I take it you are applying to 'The Mortgage Works' which is an arm of Nationwide. Ok if they have asked for bank statements they will probably need that for 2 reasons. 1. to ensure your salary credit is the same on your payslip (if this differs then that is serious) and also to see how you conduct your account.
    Nationwide and TMW can be unpredictable, however what the general public have to realise is this. Every case is different and an underwriter will determine the risk to the lender and also has to make a decision to lend to you, Mortgage companies credit scoring can and is in most cases totally different to that of Equifax and Experian, so you can have a credit score of 999 and still get knocked back for a mortgage product. Servicing of an application can be slow according to the level of applications that the lender has. I would expect the following and all decent Brokers will know current servicing levels as i do. I would expect a straight forward remortgage to be offered within 10 days and a purchase either similar or up to 14 days. Anything outside of these timeframes would suggest that either the case is under scrutiny or they are missing information. Once again contact your broker who should be able to get answers for you.
    I am a Mortgage Advisor. You should note that this site does not 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 shouldnt be seen as financial advice.

  • Hi just wanted to say that on the 27th of June we were given an offer over the phone from nationwide and was told that the offer would be in the post and we would receive by the end of the week, this didn't arrive so the following monday we contacted and they said that they were running behind but it would be in the post that evening and it would be with use in the next few days this was on the 4th july, by friday it still hasnt arrived and have been told that it has gone full circle at least 3times now and now theres a possiblity that we may not get the offer.

    just to recap we were given a offer verbily and its on file and before they managed to get that out in writing to us they may have changed there minds!!!!!!!!

    this process has taken nearly 6weeks now and not one thing has changed.:mad:

    the solisitor is just waiting for the offer in writing then we can move!!!!!!!!!

    the other thing is we waited for an offer before doing any searches, we had the offer so gave the go ahead for the searches now weve incured chages.

    at a loss, i cant see the risk in lending!!!!!!!!!!!


    sorry for the rant :o
  • Fishcake
    Fishcake Posts: 2 Newbie
    edited 30 July 2012 at 6:22PM
    Try using Financial advisor, it worked for me, from application, valuation to mortgage offer took less than 2 weeks
  • Dave_Ham
    Dave_Ham Posts: 6,045
    First Anniversary Combo Breaker
    Forumite
    Cheers Kevin..

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