Nationwide Mortgages - How long??

shonzyd

TerryCTR wrote: »

My broker applied around 3pm yesterday (21/3/13) and expected to hear by close of business today

Needless to say with my luck thats not happened and I now need to wait until next week to see if it passes or not.

The nationwide website says you will have a decision within 30 mins of applying so I take it mines has not went well

A decision for a full application or a DIP?

TerryCTR

Just the DIP mate, I can see they searched my credit today so I know they looked at the application

shonzyd

TerryCTR wrote: »

Just the DIP mate, I can see they searched my credit today so I know they looked at the application

in that case the decision is instant with one of 3 results - pass, decline or referred

droiderm

TerryCTR wrote: »

My broker applied around 3pm yesterday (21/3/13) and expected to hear by close of business today

Needless to say with my luck thats not happened and I now need to wait until next week to see if it passes or not.

The nationwide website says you will have a decision within 30 mins of applying so I take it mines has not went well

My dip has been in 2 weeks this Wednesday !
It's been brutal waiting. Mine isn't a simple case though .

TerryCTR

shonzyd wrote: »

in that case the decision is instant with one of 3 results - pass, decline or referred

That's what I was thinking, in which case its deffinately not a yes, I am opting for referred as surely a no would come back just as quick or I suppose you could say referred then no?

Its under the MI new home scheme and a relatively large mortgage so I guess it was always going to be a referral

TerryCTR

droiderm wrote: »

My dip has been in 2 weeks this Wednesday !
It's been brutal waiting. Mine isn't a simple case though .

I feel your pain mate, I am climbing the walls already. I just have no patience for anything at all so all this flat selling, mortgage/house hunting I'm finding very stressful.

No wonder my hair is on its last legs :rotfl:

mjb1974

TerryCTR wrote: »

That's what I was thinking, in which case its deffinately not a yes, I am opting for referred as surely a no would come back just as quick or I suppose you could say referred then no?

Its under the MI new home scheme and a relatively large mortgage so I guess it was always going to be a referral

My understanding is the Mi new home schemes are paper based applications rather than NW usual electronic process due to it being a Gov backed scheme. When my mortgage adviser went through my options he explained it can take a few days to process as a result.

TerryCTR

Ah I see, thanks for the making me aware of that.

I guess I will find out this week at some point and I just need to hope its a yes

kingstreet

Shared equity and shared ownership are online applications. Newbuy and MNH are paper-based as mjb suggested.

TerryCTR

Any idea on the timescale to process the application if they have already ran a credit check?

Thanks

Terry