Nationwide Mortgages - How long??

Standy

We are presently applying for a NW remortgage, 64% LTV on 5 yr fixed. Budgeting calculators say we could borrow £40k more and we both have 999/1000 credit score with Experian. I am not sure whether they are better or worse regarding "getting on with it" than anyone else offering mortgages!
So far been asked to provide:
Utility bills (paper)
Payslips for 3 months (paper)
P60s for 2011/12 (paper)
Proof of Identity (scanned)
Bank statements (scanned)
I was initially optimistic it would be straightforward, but reading many of these posts maybe that's pushing it. Used a mortgage adviser. Will post any progress, one way or another...

cnewton2k

cnewton2k wrote: »

Mine was submitted on the 18th
Valuation 22nd done on the 22nd
Employers ref done 26th

Now just waiting....

Still waiting!

Employers ref redone on the 2/4/13

Been told by IFA that the affordability is there but something due to my credit score is stopping it!!!

Been referred to the business manager to escalate it to a senior underwriter?? Anyone know what will happen here?

Cheers

mrbalboa

@ cnewton2k - I can tell you what happened when my case was 're-audited' by a senior underwriter AFTER it had already been appproved and offered; and that was they decided that they no longer want to lend me the sum they agreed to lend me (reduced it from 90% to 85%) and I'm currently still in limbo not knowing what the hell is going on. And the buyers and sellers in my chain are not happy at all.

NW saying 'we still haven't had a chance to look at it' doesn't make me feel any better either

mrbalboa

mrbalboa wrote: »

@ cnewton2k - I can tell you what happened when my case was 're-audited' by a senior underwriter AFTER it had already been appproved and offered; and that was they decided that they no longer want to lend me the sum they agreed to lend me (reduced it from 90% to 85%) and I'm currently still in limbo not knowing what the hell is going on. And the buyers and sellers in my chain are not happy at all.

NW saying 'we still haven't had a chance to look at it' doesn't make me feel any better either

I've just been told by Nationwide that 'there is a task thatneeds to be completed by the Glasgow office'

Does anyone have any idea what the Glasgow Office in paticuliar is responsible for?

Thanks

Michshandy

Hi
I'm wondering if the Nationwide representative (Anthony if it's still him) can possibly help me as I have really had an awful time with my application. I applied in branch at the beginning of December for a relatively small mortgage to buy my council house. I'd been given a price by the Housing Association and I was approved for this amount at that point. However because of a few things in my past the application needed to go to the underwriters although I was assured this was probably going to be fine and was merely a formality. Throughout December I was on edge waiting to hear from the mortgage advisor but nothing. I emailed him after a few weeks to find out if anything had happened but no reply. With Christmas on top of me I relaxed and decided to wait until after the holiday to chase this. I emailed again in the new year but still nothing.
At the end of January I phoned a Nationwide helpline to chase this and was told that the underwriters had asked my mortgage advisor to request me to supply some more bank statements on the 4th December but he had never contacted me for this. I supplied these statements on 4th February and was advised that these were faxed onto the system on 5th February and were with the Senior Underwriters.
On March 13th I had still not heard anything so wrote to the guy on the helpline to find out what was happening. He told me there was a technical fault on the case and it had been logged as high priority and he would keep me informed. A week later I had heard nothing so sent another email. Another week later and still no reply so another email was sent asking for some info on what was happening. Still no reply for another week!!
I have today phoned the helpline to see whats going on. After a long wait I was informed that the application has expired and I'll have to apply again from scratch. No explanation, no decent apology and an "oh well get over it" attitude.
I really need to complain to someone because I am absolutely furious and feel I have been treated appallingly. At the very least I want to know what went wrong and to receive an apology and a reassurance that a second application will be given much more careful treatment.
I have also lost my offer on my house now and will need to re-apply for that too - which could entail a higher price so aside from all the stress and inconvenience this could have cost me money!!
Any help or advice on where I take this cataloge of disasters would be appreciated.
M

cnewton2k

Well I have been told it will be Monday when I get an answer!!

They have offered 114000 but we need 130045

What really aggravates me is that fact the in the last month the nationwide have done 3 credit checks and the ifa approached 2 other lenders so in total 5 in a 1 month period!!

No bloody wonder my credit score wasn't the best!!

Gledhills today said not to worry and that everything should be fine just don't panic! Easier said then done tbh!

Sally22_2

Hey guys thought I would post here...

Im a FTB, buying jointly with my partner, we have 10% deposit of £78k S/O resale.

We are buying a shared ownership resale house and we were originally going to go with Lloyds but they have been useless so decided at last minute to go with Nationwide as heard good things about them, heard they are used to dealing with S/O etc. We will be dealing directly with Nationwide, had an offer in principle yesterday but cant formally apply until next Thursday due to everyone making appointments for savings/ISAs. The waiting for this is really frustrating, I even tried driving out my way to other branches but no one has appointments! I'm guessing I could apply by phone/online but would rather speak to a real person rather than a computer/someone on a phone.

Its all a bit last minute for us, we weren't thinking of buying a property until later in the year but this S/O resale came up and looked perfect. We viewed it end of Feb, and have just gotten through all of the Housing Associations interviews/requirements which on its own has been the most frustrating thing!! Already appointed a solicitor who says Nationwide are quite quick. He has already received all the info from the vendors solicitor and says they have included pretty much everything he will need so no tooing and froing should be needed, he said as soon as we get the offer, the completion date should be quite quick as well. He is going to instruct the surveys to start now.

Hoping to get an offer two weeks after applying for the mortgage and then complete another two weeks after that. Does this sound reasonable? I'm wishing we had just gone to Nationwide to begin with...Luckily there is no chain though and the vendor has already moved out of the property. Anyone got any advice/reassurance?!

japmis

Sally22 wrote: »

Hoping to get an offer two weeks after applying for the mortgage and then complete another two weeks after that. Does this sound reasonable? I'm wishing we had just gone to Nationwide to begin with...Luckily there is no chain though and the vendor has already moved out of the property. Anyone got any advice/reassurance?!

I think that's very optimistic but not impossible. When I applied for my NW mortgage on 8th March, they estimated 4-6 weeks turnaround, but I've seen some posters here have been much quicker than that.

I appointed my conveyancing solicitor mid-March and things are making progress but still at least a week away from exchange of contract.

Hope this helps?

Sally22_2

Thanks yeah, the earliest will be 4 weeks from applying for mortgage so 4 weeks from next Thursday which would be approx 10th May, as you said this is very optimistic!! I will be happy if we are in by the 31st May

cnewton2k

cnewton2k wrote: »

Hey Hayley

I am at the same point as you at the monemt

Mine was submitted on the 18th
Valuation 22nd done on the 22nd
Employers ref done 26th

Now just waiting....

Got text and call this morning

Mortgage offer is on its way woop woop

i am soo please

Mine was submitted on the 18th
Valuation 22nd done on the 22nd
Employers ref done 26th
Employers ref re done 2/04/13
Formal Offer 08/04/2013

3 Weeks in total and if it wasn't for the employment ref being wrong i would say it would've been sorted a week ago

I used a company called Gledhills as i am buying with barratts and they have been really good