Nationwide Mortgages - How long??

Stress_head1976

Hi,

I have a excellent credit score and pay all bills on time and have a good wage - I have a 10% deposit and our broker has aplied for a mortgage via nationwide, it went straight to refer AIP, so they wanted all our documents prior to even offering an AIP (this is how I take it anyway), that morning I had been accepted by Abbey (santander) but at an 85% mortgage so the broker went straight to Nationwide, without telling me till after - we have not heard anything apart from they cant seem to find my statements for the bank which I have duly sent over.

So what i want to know I suppose is why did I get referred?
is it possible they will accept me even though it has been refered? I keep hearing stories that when it is refered you are always turned down (but they have asked for all the documents).
The vendor wants it completing in a quick time line, was not told this till last friday and it is the 26th Feb, given less than just over four weeks to complete, do you think this is possible as I am gettig worried with all of these threads!

thanks all the stress head!

Kingzee29

Applied for a mortgage with nationwide after receiving a DIP however when they received the documents they refused application due to affordability.

This was not good news due to their stupid calculator giving affordability of 93000 however the mortgage was for 67500 which was then resent with a 15% deposit.

Based on the DIP me and wife had seen a property where our offer was accepted but 2 weeks down the line they had refused when my broker chases decision.

They did not even bother giving a valid reason, absolute lack of communication with this company and really wish I could do something about this.

Kingzee29

Nationwide is just a joke

clack_2

Stress_head1976 wrote: »

Hi,

I have a excellent credit score and pay all bills on time and have a good wage - I have a 10% deposit and our broker has aplied for a mortgage via nationwide, it went straight to refer AIP, so they wanted all our documents prior to even offering an AIP (this is how I take it anyway), that morning I had been accepted by Abbey (santander) but at an 85% mortgage so the broker went straight to Nationwide, without telling me till after - we have not heard anything apart from they cant seem to find my statements for the bank which I have duly sent over.

So what i want to know I suppose is why did I get referred?
is it possible they will accept me even though it has been refered? I keep hearing stories that when it is refered you are always turned down (but they have asked for all the documents).
The vendor wants it completing in a quick time line, was not told this till last friday and it is the 26th Feb, given less than just over four weeks to complete, do you think this is possible as I am gettig worried with all of these threads!

thanks all the stress head!

Hello,

I had a similar problem, I was held in referral purgatory for 2 weeks as my application (pre DIP) had been referred even though we have a 60% LTV. It seemed to go round and round in circles and they couldn't quite tell me why my referral was not being passed. I was literally told a slightly different thing everyday and told that they will re-submit it and I will hear within 48hrs. It seemed as if the person on the phone at the admin team had to guess why the application was still not going through, but didn't have any notes from the person that actually checked it! Now the solution came when a more helpful member of the admin centre emailed the person who put through my original application ( I applied by phone with no broker ) she was great and solved the problem by making some calls. It turned out that as my partner had only recently changed her address on bank statements there was no record of her credit history, all that was needed was the address and the DIP was sent out within 20 minuties of it being submitted! This was not being communicated by the underwriters or whoever checks that to the admin team or me! If we had not badgered them everyday asking questions it would have never passed.

so my advice from experience is
1. ask questions , especially with the admin team! have they got ALL your documents.
2. The quality of service varies person to person, so call everyday even if they say 48 hours ( i found that when something was actually being done it was 24hrs max )
3. note down who put through your application, and try and contact them (if broker ask them) try and contact them to ask WHY it was refereed and WHAT they need.
4. To speed up the process you can send referral documents through a branch , they need to certify it and then fax it to the admin centre. Try ask the manager if they dont seem to know what you mean. Then a few hours later call the admin centre up and ask them if they have received all the documents, you will save 2 days of delay!

It does not mean you are a definite rejection! but it will be slow or even stuck if nobody is helping you out in Nationwide, apparently (according to threads) this is all to do with a new admin system they put in. So when they say "we need x documents" get on it and check that its not stuck everyday! we are not through it yet either but getting closer!

At the end of the day it seems that the service is good (always answer and are helpful ) but the system is flawed!

paul9619

Just recently been excepted for a Nationwide 5 yr Fix:

27 January 2013 Offer accepted on house
29 January 2013 application submitted via broker
07 February 2013 Valuation Instructed
11 February 2013 Valuation satisfactory
20 February 2013 Mortgage over received in post

90% ltv mortgage and not a straight forward case as I am in the forces and needed to do a paper application.

Minniem

Offer accepted 1st February.
Broker submitted and obtained DIP 4th February.
Broker submitted full application 6th February.
Valuation Survey booked 7th February.
Additional proof of my child maintenance asked for and provided 13th February, not a straight forward application @85%LTV
Broker confirmed mortgage will be issued 15th February.
Transpired Nationwide not updated system, chased by broker today (20th February) and mortgage offer generated within minutes and broker emailed me a copy. Now just awaiting the postal copy and the offer to be sent to my solicitor. :T

A stressful but thankfully a relative quick process. It would appear that with a good broker the online application they complete is straightforward and relatively efficient. It also allows them to quickly track the live progress of the application that does provide some reassurance.

So happy I have my mortgage offer:)

mell242

Our survey is due to be done today, have an AIP and full application was sent off on Wednesday. Going through London and Country.

We're FTBs hoping for a 90% mortgage. It's not a straightforward application I guess as I'm on maternity leave but have provided Nationwide with a letter from my employer and broker says it shouldn't be a problem. They also requested 6 months bank statements, last payslips and P60.

Hoping for the offer asap :think: very stressful!

chrispardo

Thought I'd add my progress so far. I'm a FTB looking for a 70% LTV mortgage (4 year flexclusive fixed). I'll update as I go in case it's of use to anyone in the future:

29th January 2013: First meeting with Nationwide mortgage advisor
4th February 2013: Offer accepted on house
7th February 2013: Second meeting - obtained AIP
12th February 2013: Notified that survey would take place on 14th Feb
13th February 2013: Notified that survey would take place on 20th Feb (MA confirmed this was correct)
20th February 2013: Valuation (& Homebuyers) survey takes place (presumed)

I've heard nothing from the surveyors or Nationwide following the valuation, and I'm getting a bit nervous now. I've also got to say that the automated emails/texts from Nationwide are pretty confusing and often contradictory. The mortgage advisor has been good and quick to answer my questions from these though.

lee111s

Ring them up and chace. Only way to get things done on time in my experience!

chrispardo

Good advice! I was just about to, when I got another vague automated message:

"We are pleased to advise that a valuation has been booked for 27/02/2013"

Rang Nationwide who didn't really know any more than that, saying the vendor wanted to be present for this, which is what they told me when it was put back from 14th to 20th. I range the surveyors, Countrywide (who I know get a lot of stick), who explained that there'd been a mix-up in slots on the Wednesday and so there was no one present when the surveyor arrived. They explained that a new appointment was booked in for this Wednesday from 12-3, and that the surveyor would call me beforehand as requested.

Countrywide have been nothing but helpful both times I've spoken to them, but Nationwide's automated texts/emails leave a lot to be desired. In this situation I just needed one last week telling me it'd been cancelled at the last minute, and then one saying that it'd been rearranged. Not the default templates.

So that makes:

29th January 2013: First meeting with Nationwide mortgage advisor
4th February 2013: Offer accepted on house
7th February 2013: Second meeting - obtained AIP
12th February 2013: Notified that survey would take place on 14th Feb
13th February 2013: Notified that survey would take place on 20th Feb (MA confirmed this was correct)
20th February 2013: Survey doesn't take place due to mix-up
25th February 2013: Notified that survey would take place on 27th Feb. Find out about mix-up above.