Nationwide Mortgages - How long??

Sinked_boat

Just a valuation, applied on the 23rd of august and it is not booked in until the 18th Sept! Nearly a month!! We are surrey/hants border.

Odette

Homebuyers and we will be waiting 3 weeks in Hertfordshire (Sept 11th - a bit ominous). Luckily we cant complete until the 1st Oct so I am not so worried.

Rosy_Apple

Our valuation should be this morning- feeling very nervous. Does anyone know rough timescales for hearing back?

Thanks

dondon1903

I'm trying to a sell a property is Perthsire. The estate agent is YourMove and the buyer is using a YourMove financial advisor and has been arranging a mortgage with Nationwide.

The first thing that went wrong was the buyers credit check. He lives with his parents and has the same name as his father...who has some adverse credit. This caused a few weeks delay. I dont understand why Experian/Equifax dont use date of birth to identify customers.

After this was sorted, the bank decided they wanted the Home Report refreshed because of the time that had passed.

This was done about 4 weeks ago. Everything has now went quiet at Nationwide. They are just simply not sending the offer out (although apparantly the IFA has been assured that everything is ok).

Now, because of a combination of problems with Nationwide and Equifax, the sale is two months past the initial agreed date. Nationwide have just 'clammed up'. No information.

martan01

I've had a bit of a nightmare with nationwide,

I don't have all the specific timescales to hand but I had a mortgage in principle in early July, within a week my offer on a property was accepted and the formal application process started.

The survey was booked for the following week initially, but put on hold as the mortgage adviser wanted to have the case underwritten first. The sellers were also not formally taking the property off the market, stating that they wanted to tie up the chain first.

The underwriting process was lengthly, in which they lowered the mortgage offer by 40k due to not taking into account overtime and regional allowances, then bumped it back up again after I serviced some debt. I was very surprised at the problems I had, given that I have a stable job, a good salary and a large deposit.

After agreeing the finances, nationwide informed my broker they had instructed countrywide surveyors. 48 hours later no survey booked, this was chased and we were told that they had emailed the wrong team. Another 48 hours we chased and we were told there was a technical error, which was resolved and the surveyors were instructed. Another 48 hours I called directly, was told that my product had expired, the survey was on hold, that my case was under review and I might have to start the whole process again and apply for a new product....

My broker shone through now, complaining, and ascertained that someone had mistakenly cancelled my product when the survey was put on hold. I had paid a deposit, he pointed this out and approximately 3 working days later I was told my product was reserved and the survey has been booked for 11th September.

So survey booked, my question to the board is, because my case has already been underwritten, if the valuation is satisfactory, should I receive a prompt offer so I can put this episode behind me?

I'm starting to think that if anything can go wrong with my application it will...

Rosy_Apple

We have just got a text telling us that we have a mortgage offer :j. This will mean that time from application to offer (by text) was two weeks one day.

Good luck all!

marmitequeen

:mad:
So, we have our offer and should be jumping for joy but have seen that our mortgage advisor managed to put the wrong purchase price (missed the £500 off the end). So the property has been valued at £500 lower - I asked about this but didn't get an answer.

Speaking to Nationwide it's now up to our solicitors to decide if it's a problem but I can't see why it wouldn't be a problem. We have the extra £500 if needed, but surely it'll mean records won't match up etc etc. To get them to do another offer will take 48 hours. We are hoping to complete on Mon 9th. It's all still possible (in my dreams).

Grrrrrr

We used a mortgage advisor to help make things fast and watertight. We are borrowing 40% of property value and are really regretting not doing this totally ourselves.

She was fantastic until the moment she had our money. She put in the wrong postcode for the property and that messed things up royally for two weeks. She hasn't answered emails, phone or texts. (Well, two emails saying she was chasing when I left all forms of communication). I guess we contact her umbrella organisation once this is all wrapped up?

All the best to everyone else on this journey x

martan01

Marmite queen,

From my experience, I would just add 500 quid to your deposit.

I would imagine asking for another 500 pounds from
Nationwide will start an automated process involving a change of circumstance and cause you to be reassessed over a standard 48 hour period.

This is my opinion only and I'm far from being an expert..

marmitequeen

Hi martan01, that's what we've asked the solicitor if we can do but the problem is the stated sale price on the mortgage documents is incorrect. We can only wait and see.

It's fine though, I've calmed down now. Even if we can't move into our new place when we leave here we have alternative temp accommodation and storage lined up. It'll cost more and be more inconvenient but we'll be fine. There are others in far worse situations.

Mind you, I will be composing a letter of complaint when all is settled as I wouldn't want this to happen to anyone else.

And breathe...

MQ x

mbkn123

Nationwide has put us through the ringer trying to remortgage. Our application kept being 'lost' in their system and had to re-keyed twice over the phone with me supplying the details as the system didn't like our address. The call centre people had apparently never encountered a 'Scottish' address before.

I've been into a branch 3 times with paperwork (passport, payslips, P60s, utility bills for address confirmation, etc.) at their request and had verbal confirmation that these were received. This has been going on for 4 months.

Now we have everything agreed and had a positive decision in principle and have completed the solicitor's paperwork regarding the deeds, etc. Now they tell us we can't do anything further because they don't have copies of our passports, payslips, etc. I only found out about this because I phoned them. How could we have gotten a decision in principle without them having seen our paperwork?

They were incredibly rude to me - we have gone from pre-sale to new business apparently and I've never experienced such hostility in the guise of 'customer service'. I think we have to walk away from this deal and I'm just gutted.