Nationwide Mortgages - How long??

chrispardo

As I mentioned a couple of weeks ago, after my mortgage offer we've had to go back to Nationwide to check that a leasehold garage isn't going to affect the offer. Here's my progress for this:

29th April: Solicitor forwarded documentation on to NW.
30th April: NW received documentation and forwarded on to Countrywide valuer.
1st May: CW valuer received documentation. Meant to reply (to NW) within 7 days.
3rd May: Rang to check progress (and find out the above). Told they'd hear back from valuer by early following week, so hopefully decision would be made by end of that week.
10th May: Rang to check progress. Still with CW valuer. NW chased CW, who in turn chased the valuer. Told that issue would be passed back to NW that afternoon and then a formal reply sent to my solicitor.
13th May: Rang to check progress. Confirmed that case is back from CW, and is now with NW Valuation Services. Told these would be chased by email as there was a 10 minute queue on the phones. Told to call back CoP Wednesday for an update if I've heard nothing from my solicitor by then.

Getting VERY nervous about all this. This is the one remaining issue that could make the whole sale fall through, and we're hopefully less than 3 weeks from completion. Will try to wait until Wednesday before chasing them again.

Anyone else had to refer anything back to Valuation Services after they've had an offer?

bis01aa1

bis01aa1 wrote: »

Amazing thread - great stuff guys

This is my timeline:

1. Application completed by broker on 28th March 2013
2. Contacted on 12th April 2013to confirm valuation
3. Valuation taken place on 15th April 2013
4. on 17th April 2013 Underwriter asking where I got the deposit from. Advised from another account and emailed bank statement showing transfer to savings account.

Its now 19th April 2013 still no update. They have sent me an email:

Based on the assessment of the valuation report we are pleased to consider the loan amount of £100000. Please note this is still subject to any other outstanding information that we have requested from you and our final underwriting checks once all documentation is received.

Does this mean I am close or they will be happy once they see my statement or its not looking good?

Thanks guys.

Been told last week Nationwide will not give me a mortgage because I may turn the house into HMO!

Very funny and stupid reason.

Anyway another bank (HSBC) offered me the mortgage without any problems - never use Nationwide again wasted four weeks of my life!

housewanted44

Survey booked in for tomorrow. I will chase Nationwide next week to see if they have received the valuation back from the surveyor, then hopefully not long till we hear!

flybynight

our valuation was booked in for Monday, and I got a text within about 5 hrs saying they had the results, so you might not have to wait that long.

tednol

My time line to date:

1 - Got an AIP from a broker in Jan-13.

2 - 1/5/13 Had an offer accepted on a property and spoke to the broker, asking him to submit a full application. Received two text messages, one saying "Product(s) have been reserved for your mortgage application", and a second saying "Your mortgage application has been received".

3 - 7/5/13 we received an email from the broker saying all documents regarding income have been signed off, and that proof of deposit documents would be signed off in next couple of days. Informed that the survey was instructed on 1/5/13, but neither I nor the estate agent had heard anything. Broker suggested the estate agent chase directly with Countrywide, which she did. We then received a text saying the valuation was booked for 13/05.

4 - 8/5/13 received an email from the broker saying all documents signed off, everything agreed, but requesting some specific documents around proof of deposit. Provided requested documents on 9/5/13.

5 - 13/5/13 received an email from the broker requesting further evidence/confirmation around proof of deposit. The request included statement requests for closed ISAs etc which we needed to request from our bank and were told these could take 3-5 days. We heard from the estate agent the survey went ahead as planned.

6 - 14/05/13 called Nationwide direct, told over the phone the valuation has come back. The valuation matched our offer price.

7 - 15/05/13 received a text from Nationwide to say they "received a satisfactory valuation report" and that they "will be in touch again shortly".

We hope to get the latest documents in relation to the deposit to them by Monday, depending on when we receive the statements. Hopefully they can process and sign these off promptly. Will keep the thread updated with progress.

flybynight

just to let you know we put in applicaition on sat, valuation Monday and got a formal offer this mornig. so they must be speeding up.

Blondygirl

Thats great news. Our broker submitted our application last night so hope our goes through as quick as yours:D

Hope everything else goes smoothly for you.

jamja

We were in for a meeting with our broker today. Hopefully full application will be in tomorrow and it won't take too long to go through the process!

84_Guy

Here's my progress;

DIP submitted 14th May, came back in half hour accepted, with credit check done and scored

DIP asked for card details for valuation/and recent payslip for each job (i have a second income)

Full application submitted via Broker on 16th May

Email received 17th May at 10am to say valuation has been booked for Monday 20th, 9am


Seems to be heading quite quickly! I guess it hasn't been to underwriters yet?!
Just for info have LTV 85%, income of 44k, excellent track record and score, no debt, am 54 yrs of age and am taking the mortgage over 15 years. Nationwide said they didn't need proof that I could repay the loan after my retirement at 65.

I'm hoping the fact they have instructed a valuation it's a good sign?

housewanted44

Has anyone got any updates? I know a few have had valuations but have not updated since!

Our valuation took place on 16/05 and I will be chasing results this morning. I believe it will be handed over to the underwriters today for review. Exciting stuff cant wait to hear about the valuation today!