Nationwide Mortgages - How long??

japmis

cnewton2k wrote: »

Got text and call this morning

Mortgage offer is on its way woop woop

i am soo please


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

Well done!!!:T Such a massive relief!! :beer:

I'm jealous...... haven't heard anything since Thursday 4th April. Bloomin' hope it's this week or I'm going to start with a nervous twitch :rotfl:

japmis

_pale_

Starting to get a really bad feeling about this mortgage application; I'm not holding out much hope. It seems to have taken loads longer than anyone elses.

lawriejones1

There is no logic to the timescales for a mortgage, so I wouldn't worry about it.

You need to take a philosophical approach to it all (abstain from caffeine and coffee too if you're of a nervous disposition) and trust that whatever will be, will be!

There are so many things that could affect the time-scales (sickness of the underwriter, mislaid information etc) that it's really not worth worrying about.

Look at it this way, if they weren't even going to consider the mortgage, then they would have dismissed the application straight away, wouldn't they?

bretts

lawriejones1 wrote: »

There is no logic to the timescales for a mortgage, so I wouldn't worry about it.

You need to take a philosophical approach to it all (abstain from caffeine and coffee too if you're of a nervous disposition) and trust that whatever will be, will be!

There are so many things that could affect the time-scales (sickness of the underwriter, mislaid information etc) that it's really not worth worrying about.

Look at it this way, if they weren't even going to consider the mortgage, then they would have dismissed the application straight away, wouldn't they?

I applied for mortgage through nationwide
4/4/13 got DIP
5/4/13 got text saying they have got my application and deducted fees for survey and everything but have not heard anything since

today is 10th but there is nothing till now
any idea if it is taking that long right now
my application looks straightforward to me and to mortgage broker too
dont know whats taking so long

cnewton2k

bretts wrote: »

I applied for mortgage through nationwide
4/4/13 got DIP
5/4/13 got text saying they have got my application and deducted fees for survey and everything but have not heard anything since

today is 10th but there is nothing till now
any idea if it is taking that long right now
my application looks straightforward to me and to mortgage broker too
dont know whats taking so long

its been less then a week!!!

japmis

That's not long!!!! I applied 8th March and still waiting for final approval; they did say it would be 4-6 weeks.

bretts

Hi

Thanks for the reply but do you know if the survey and valuation is done beforehand.

Sorry i am a ftb with no knowledge at all so relying on this forum and friends to help me get through the process.

Can some one please tell me what would be the next stage for me.

Again apologies to be asking such a stupid question but i am really not sure how things proceed. All i have done for now is submitted the application and sent solicitor details to the estate agents.

bretts

japmis wrote: »

That's not long!!!! I applied 8th March and still waiting for final approval; they did say it would be 4-6 weeks.

Hi Japmis

I was told by my mortgage broker its 3 to 4 days
they already deducted the money for survey and all almost same day
probably getting nervous thinking about it
seeing you I think i gotta wait a long time too so hopefully willl try and relax now

mightyblues78

bretts wrote: »

I applied for mortgage through nationwide
4/4/13 got DIP
5/4/13 got text saying they have got my application and deducted fees for survey and everything but have not heard anything since

today is 10th but there is nothing till now
any idea if it is taking that long right now
my application looks straightforward to me and to mortgage broker too
dont know whats taking so long

Hi bretts,

For what it's worth, the gap between my Nationwide application being received and the valuation being instructed was 6 working days (instruction was made on Friday last week).

My process so far:
Application Made: 27th March
Valuation Instructed: 5th April
Valuation Due: 16th April

Cheers,
mb78

japmis

bretts wrote: »

Hi Japmis

I was told by my mortgage broker its 3 to 4 days
they already deducted the money for survey and all almost same day
probably getting nervous thinking about it
seeing you I think i gotta wait a long time too so hopefully willl try and relax now

When I applied on 8th March I paid upfront the product fee and survey cost.

The next step was the valution, which should/could be in the next week.

You will then receive a text from Nationwide saying something along the lines of 'satisfactory valuation report'.

Then the real waiting begins as they scrutinise your paperwork, verify you income, rent, bank statements, previous addresses, P60, first born child, inner leg measurements, loans, affordability etc etc etc. :rotfl:

Then once all the paper work is in order (beware: if Nationwide require extra paper work from you, they will not contact you, aim to phone them once a week to get a status update) it goes to the underwriters. The underwriters take, according to Nationwide, around 3-4 working days.

So, all in all, the process takes 4-6 weeks. Some it is quicker, just depends on..... actually I don't know what it depends on..... pot luck?!

Have you got a conveyancing solicitor to start doing all the legal processes?

Have you considered having your own Home Buyers Survey?