Nationwide Mortgages - How long??

Cleverclogs

Hi, we also had to wait for a mortgage app'ment with N'wide, and were worried the vendor wouldn't wait, as like you, they were pushing for a quick sale due to a previous buyer pulling out. We just explained to the EA that we were committed to the purchase, just had to deal with a lack of mortgage appointments and they were fine about it.

We had provided a lot of the documentation at the DiP stage so only thing we needed to provide was a bank statement for a non-N'wide current account, which I was told to bring at our DiP appointment. Did they say to you what additional paperwork you will need?

If it helps, we had offer accepted on 12 June, did our mortgage app on 18 June, our valuation & homebuyers survey was booked immediately for 26 June, and text offer came through on 1 July. Didn't get posted offer until 10 July.

threewishes_2

That sounds too long a time for my seller! I think they would like to go from accepting our offer to completion in 4-6 weeks, and your waiting time to M/O was longer than that. We may have to take a risk and get the conveyancing and survey done in the mean time. Pretty confident it will get an offer though.

Yeah they requested payslips and a form from me as self employed proof of earnings. Is that really all they will ask for?

Cleverclogs

I think it probably helped that my OH has banked with N'wide forever and we switched our joint a/c to them 6 months prior to application so they had all our details & financial incomings/outgoings. I took proof of address, payslips, P60s, Photo ID - just in case. We're very straightforward buyers ie: both full time employed, no bonuses/overtime, well within affordability etc. They contacted OH's work for an employer reference (he's been there 12 months) as part of the mortgage app, and we've since had to submit a lot of paperwork to the conveyancer, which was the hardest part so far!

I think you and your sellers need to be realistic about timescales. It takes longer than you think to buy a house - even if it's straightforward. Under 2 weeks from app to offer is pretty good and I think N'wide are notoriously slow getting the postal offer out, so having it with our solicitor within 7 working days wasn't the slowest by any means! But if you are willing to take the risk, then getting the conveyancing underway early will probably speed it up - but prepared to chase a lot.

stylus360

Nationwide_company_representative wrote: »

Hello W.H.A

The MSE team has passed on contact details to you. Please get in touch and we will do our best to help. Please use the contact details to get in touch and do not post any personal details on here.

Thanks

Anthony from the Nationwide media relations team.

I wish Nationwide offered a totally flexible mortgage/overpayment/borrow back facility, had this for years with them but will be forced to move main current account and mortgages due to poor lending facilities.:o

kingstreet

stylus360 wrote: »

I wish Nationwide offered a totally flexible mortgage/overpayment/borrow back facility, had this for years with them but will be forced to move main current account and mortgages due to poor lending facilities.:o

I thought you still had borrow-back if you were with them before March 2010?

http://www.nationwide-intermediary.co.uk/products/flexible_benefits/flexible_benefits_for_existing

I assume you'd keep these terms on porting BMR if you move too?

paulpod

I found these useful/encouraging when I was arranging ours, so here is our recent timeline.

8 June - saw house
10 June - put in offer, accepted
11 June - spoke to mortgage broker, Nationwide 75% LTV recommended
** assemble documentation **
19 June - Texts from Nationwide, 'reserved' + 'application received'
24 June - Valuation and survey booked (Countrywide)
1 July - Survey takes place
3 July Text from Nationwide, 'satisfactory valuation'
5 July Full Homebuyers survey arrives from Countrywide
9 July text from Nationwide, 'formal mortgage offer'
18 July full offer as hardcopy arrives via post

Entire process was via phone and email, no paper documents used at our end, which I like. My partner was self employed and I was too until January, so had expected it to be a bit bumpier, but no problems.

We're pretty happy with both choosing a mortgage broker and with Nationwide. Your mileage, as they say, may vary.

chelle333

Full application went in last Tues, Nationwide waiting on two new wage documents of work, when will they instruct valuer? will they wait for the new documents or just carry on with valuer, this is a very stressful time.

threewishes_2

Chelle333; They will wait until they have everything they ask you for including those wage slips, before they instruct a valuation. We met and got all our paperwork in on Sat. to have the application arranged Monday. He says it will be about 2 weeks to get a formal offer, and this was quick (and it would be quick because our case was so straight forward and we supplied all documents quickly).

chelle333

threewishes wrote: »

Chelle333; They will wait until they have everything they ask you for including those wage slips, before they instruct a valuation. We met and got all our paperwork in on Sat. to have the application arranged Monday. He says it will be about 2 weeks to get a formal offer, and this was quick (and it would be quick because our case was so straight forward and we supplied all documents quickly).

Thank you, all forms given in today.

CharleyCheese

Hi all.

Noob here so be gentle.

Had an offer accepted on a house Saturday, applied for the mortgage through a broker Monday.

Had texts yesterday saying application received etc.

Text today saying valuation booked for next Tuesday.

I'm nervy! :idea: