Nationwide Mortgages - How long??

lb364

We applied in branch and had the offer in less than two weeks. Shame we no longer have a house to buy though!

dramaqueen1

Been watching this thread for a while with lots of anticipation and interest. This is how my application went::

8 SEPT. Approved in principle
12 SEPT. Valuation carried out
14 SEPT. Satisfactory valuation
2 OCT. Mortgage offer text
9 OCT. Mortgage offer in writing.

Exactly a month from start to finish as others are saying. However still no sign of a moving date?!? More stress

Princess_giggles

Best advice I can give is keep pestering you broker as that's what they are being paid for. Also try sending them a message on twitter...worked for us.

QBSBuck

Still waiting. Broker spoke to them today. Offer definItely in the post Monday. We shall see. On target for 2 months!

mrs_motivated

Still waiting here too.

I applied (full application - DIP already received) on 28th September - and was asked for 6 months bank statements (to check i had been paying rent) - 3 months payslips and P60.

All sent by fax from branch on 28th Sept - Letter recieved asking for same info (couldnt find the ones the branch had faxed) so.... sent in all the originals asked for, plus a letter from employer stating how long I had been in employment etc, thinking I would be ahead of the game.

3 days later all originals sent back - I phone to check they are on the system and they now have everything they need!
They assured me they do and I should hear something in 5 working days.

Forward 5 days - phone again and they are missing some info (proof of middle name) huh, first time this was mentioned. Girl on phones says oops its an error with our inputting, dont worry I have now corrected it and you should hear by the end of the week.

OK - end of week comes, I phone for an update and the middle name thing comes up again and this girl says aaw, whoever you spoke to didnt clear if off of the system ......aaaarrrgg
Same day I look and see they have done a credit search on experian (so at least they are doing something)

Phone today for an update - middle name problem can I send photo ID ie passport or driving license (at this point I am losing the will to live).....
she also says there is a query flagged up and they need to know if I own more than 20% of the company :eek: erm, I say no , I am an employee and have no shares in the company, she says thats fine and she will update the system but they have to ask me because I am a CEO of a letting agents. Ok , yes I am CEO - but not of a letting agents of a small housing association (which does not have shares and is non profit making by definition)..... she says never mind as long as you have less than 20% shares..... I do point out that if i owned more than 20%, I would cash in a couple of million quids worth of shares and not bother asking them for £150K .......

I agree to send off driving license at lunch and said are you sure that is ALL you need to make a decision and she said 'yes, thats all and it will take about five days'! mmmm (we seem to have been here before)

I ask if she is sure it will take five days to scan my diving license and someone to look and tick relevant box - she said YES :rotfl:

So I toodle off at lunchtime and fax off a copy of my driving license with covering letter (application number etc.) from local branch - nice guy faxes it off and keeps a copy in case they lose it. I politely ask him if Nationwide has always been this inefficient or have they got worse since the economic chaos the banks caused. He grinned in return and said how sorry he was I had applied online and he could only say that if I had applied in branch things usually happen much quicker........mmm I phoned the branch the day before i applied online and couldnt get an appointment with the mortgage advisor for 5 weeks :rotfl: so wouldnt even be at this stage yet..... aiming for a 31st October completion date too


Lord if I didnt laugh at the situation - I would crack up.

QBSBuck

Applying in branch is quicker hey? You would think porting an existing customer would be quicker too, but I assure you it isn't Though there are always unique circumstances to every application.

Anyhow, fingers crossed the end of the tunnel is approaching.

QBSBuck

Wow!

Its here. I am looking at my mortgage offer.

20th August - Paper Application (Porting and top-up)
5th September - Booking fee and Valuation fee taken from account.
5th September - Credit check observed in Experian and Equifax
10th September - Valuation completed

The valuation came back 10k below the agreed price, a week of negotiations followed. Delayed until 28th September.

2nd October - Mortgage Broker finally faxed of a revised request at 85% of valuation figure
16th October - Offer arrives

mrs_motivated

Yay! I am so pleased for you.

:j.


Fingers crossed , I will get some good news soon

QBSBuck

Thanks, its a big hurdle overcome.

Have you started your searches already Mrs Motivated? Just with you saying completion target of 31st October. Mine went off today, aiming for 16th November.

mrs_motivated

Not yet, my solicitor says she will do them as soon I get my mortgage offer through. She reckons they should be back within 7 to 10 days.

I am currently renting and the bungalow I am buying is empty. So there is some flexibility around completion date.

It's just the vendor has been a darling and accepted an offer knowing I couldn't do anything until my divorce was sorted and funds released from my solicitors account.

Also my years rental ends on 17th November, and I don't want to extend if at all possible.

I will let you know as soon as I hear and good luck with your move,