Nationwide Mortgages - How long??

rocketmeg

I am rather confused. As first time buyers we have no idea how it all works, we were first given advise from Barclays, BAD IDEA. They advised us incorrectly and poorly, which lead to us being declined, due to their advise. So feeling totally deflated we went to an independant mortgage advisor and we applied for a mortgage on tuesday through a them with nationwide and we have been accepted in principle. What does this mean as we had been accepted in principle with Barclays? Further more nationwide have booked and taken out money for the valuation, does this mean that if valuation okay that we will get an offer for the mortgage? It seems very odd as we haven't had confirmation that we will be properly accepted before they do the survey. As again we could end out of pocket.
Any advise or ideas on what is happening would be really appreciated.

QBSBuck

Sadly, no it doesn't mean its a definite offer subject to valuation. The valuation fee withdrawal did coincide with the credit check for me, so it is definitely a good sign. The valuation was completed prior to an offer being issued. But...it took a further 6 weeks for them to issue my offer. They are quicker now 'apparently'.

Until I have the keys in my hand, I am not counting any chickens.

kingo30

My broker called me last week Wednesday saying that he had just come off the phone to nationwide, my mortgage had been approved subject to them carrying out the survey in the next few days and my offer will be in the post next week. Just a nervous wait now until I see it in black and white on my door mat.

QBSBuck

Never before has a bland legal document been so much fun to read!

caeler

My mortgage offer came through today, application was submitted on 21 October and valuation occured 23 October. 12 working days from application to offer. Pretty efficient!

TastyTeeth

caeler wrote: »

My mortgage offer came through today, application was submitted on 21 October and valuation occured 23 October. 12 working days from application to offer. Pretty efficient!

Good news!

I'm on 10 working days since application for me. Hoping for my offer within the next few days. It's been very efficient so far - valuation done last Monday.

Fingers crossed I hear by the end of the week...

swanslegend

Just to big nationwide up a little because of all the negative comments on here. I think having a broker has made our life far easier (broker used: MP Financial Services Wales Ltd), they have been fantastic.
Here is my process
- 13 December 2012 Offer accepted on house
- 20 December 2012 application submitted and mortgage in principle agreed
- 07 January 2013 Valuation
- 07 January 2013 Valuation satisfactory
- 08 January 2013 text message stating formal mortgage offer issued (awaiting paper documents in post)

So just waiting on the solicitors to complete, so 2 and half weeks from application to offer. Nationwide have been very efficient and make no mistake having a broker has certainly made life easy.

stonecold379

I applied NW Mortgage application on 7th Jan'13 through broker and received msg that my application has been received and they will inform me etc... today my state agent emailed me that my survey has been booked for Monday next week. Just wondering no any text received yet from NW regarding survey. Just wondering about my deposit money as I applied 20% mortgage and due to some unfortunate event I have to withdraw £2k in emergency from my deposit:eek:, which I am pretty sure will be received back on 15th February'13.

Can anyone know OR advice when will I need to show my deposit to NW...???

Ms-Money-Penny

I done all the research myself and applied with Nationwide was a bit doubtful after reading this thread but they have been amazing my timeline

22 December 2012 Offer accepted on house
4 January 2013 application submitted and mortgage in principle agreed
9 January 2013 Valuation
9 January 2013 Valuation satisfactory
9 January 2013 text message stating formal mortgage offer issued (awaiting paper documents in post)

So i am a very happy Nationwide customer :T

stonecold379

Ms-Money-Penny, Congratulations:beer:,

My survey has been booked for Monday next week and I hope it will be fast as well.

Do you know when will you need to show your deposit? For example If (I hope) my mortgage application would successful within two weeks time, then when will I need to show mortgage deposit (I am 2k Short now due to an emergency withdraw from my mortgage deposit and it will be received back on 5th or 10th February 2013)..very confused now...:(