Nationwide mortgage application timescales

Mike_eat

We received a mortgage in principle through a broker in December from Nationwide.

We submitted all the paperwork at the beginning of Feb.

We have not heard anything back since then, and we are getting desperate now as the sellers are threatening to pull out - they are buying a new build.

We have been told that mortgages are being held up due to the influx of First Time Buyers trying to get applications in before the end of March, but it's bee nigh on 8 weeks now.

Has anyone else had a similar experience? Any tips on how to put the proverbial boot up the backside and get things shifting?

Cheers
Mike

Thrugelmir

What's your broker been doing?

m0bov

r u using l&c? pm if you are. search my posts as i had issues with nationwide.

Katpin

We had a similar issues. It took approximately a month to go through and that involved considerable chasing on our brokers behalf. They do seem to have alot of work on at the moment so any information they request from you was taking between 24 and 48 hours for them to get to. I suggest you ask your broker how much contact they have had with Nationwide and get them to start asking some questions if they haven't already.

bobula

hmmm interesting my broker seemed to laugh when i was having trouble with RBS and said he could have got my original mortgage with nationwide in 4 days ... interesting to see it would have been tough for him too

RBS took 4 weeks for us - i was hassling them daily to get it through though - they lost my paperwork once and i had to resubmit it - 3 days later bam - mortgage.

solicitors have the money and we get the keys today

DadDee

I recently applied direct (online) to Nationwide (I also bank with them, so there was less paperwork required) and got the property surveyed and my mortgage fully approved within 10 days.

They gave me link to monitor the status of my mortgage application online. I could also call them up and speak to someone in person.

DD

Mike_eat

Thanks everyone.

Broker seems to be chasing every day. He also has a meeting with them next Wednesday and has asked for our case to be moved forward before then. Our broker is SPF Private Clients, NW have had our application since 6th Feb.

lizzyshep

We got our final application sorted out in Jan (had decision in principal done prior to that)and it didn't take long, probably less than 2 weeks. However, we are now waiting for them to approve an indemnity policy so we can exchange - last Tuesday they said they would respond in 2 days, so far it has been 10! Our buyer is threatening to pull out too :-( Apparently Nationwide are waiting to hear from the valuer. They also said they are extremely busy due to FTB stamp duty holiday ending today so hopefully they will start to speed up but may have a backlog. I imagine they have a load of solicitors chasing them so don't know a way to hurry them up I'm afraid, just keeping fingers crossed. It is very frustrating though!

steve1980

Mike_eat wrote: »

Thanks everyone.

Broker seems to be chasing every day. He also has a meeting with them next Wednesday and has asked for our case to be moved forward before then. Our broker is SPF Private Clients, NW have had our application since 6th Feb.

Bit weird that your broker has meetings with Nationwide about mortgages when they are all done in a central location, not at branch level.

I would be questioning whether the broker is even chasing them. Phone Nationwide directly and ask for an update.