mortgage offer withdrawn - fees lost?

rdpro

After having a surveyor around, Nationwide have withdrawn their offer because my terrace neighbour is an unrepaired PRC council house - I paid the 599 fee up front rather than add it to the mortgage, probably a stupid move in the light of day now, because if I'd had it added I wouldn't have lost a penny.
The website says 'non-refundable' so do I wave byebyes to the cash, even though I haven't reneged on anything? The branch mortgage advisor hasn't returned my calls

dunstonh

The website says 'non-refundable' so do I wave byebyes to the cash

Yes. That is what non-refundable means I'm afraid.

minimoocow

Sorry OP I have no idea but have wondered what happens in this situation if you opt to add it to the loan and then don't complete - are you liable for the fees or not - or does it depend?

Gorgeous_George

Nationwide are proud to be different.

Ring them tomorrow and ask for the money to be refunded. You should not be penalised for the mortgage not completing due to reasons beyond your control.

I'm sure you will be reimbursed.

GG

herbiesjp

I did get a refund of booking fee from Nationwide on a similar case to this (it was a Wimpey no fines poured concrete build)

So definitely worth a go - the valuation fee has been lost though.

You could however keep that deal while you looked for another property though

rdpro

Yup, just got my refund agreed this morning! Problem is, it's a remortgage for internal renovation so having to go elsewhere

uncommonadvice

Hiya - although officially it is non-refundable, you'll get it back if you persist.

Gorgeous_George

rdpro wrote: »

Yup, just got my refund agreed this morning! Problem is, it's a remortgage for internal renovation so having to go elsewhere

Good old Nationwide. Oh the joy of being a mutual.

GG

minimike2

I would persue the refund of the booking fee, but you wont get the valuation fee back.

Funnily enough I have a client who had EXACTLY the same thing. They applied to Nationwide on a PRC repaired property, was declined due to the attatched house not being repaired.

Did the Broker know that the attatched property had not been repaired? If so then they should have known that Nationwide would not accept the application and you could complain about the adviser. Or did you apply direct? And in that case did they know - as if they did you could persue a complaint for the valuation fee from Nationwide too.

Ian_Griffiths_Halifax

From the Nationwide website



Non Traditional Construction

Many properties have been built using a variety of other construction methods. Lending terms vary depending on construction types and if a repair scheme, where appropriate, has been used. Where a property is of non traditional construction please contact your usual Service Centre with full details, as follows, for further advice:

• the name of the type of construction
• year built (if known)
• if it's a flat/terrace/semi or detached
• details of any repair scheme if appropriate and if the scheme applies to the whole block (e.g. the whole terrace/both semi's)

The exact construction name is important as lending terms may differ between different types and year built. For example our lending terms differ between Gregory, Gregory Drury System 3 and Gregory Housing. All three have different lending terms and it is important to ensure the full and accurate name is obtained in order to avoid inappropriate advice being obtained from us.