Nationwide Mortgages - How long??

georgius

georgius wrote: »

I spoke to nationwide today at 14.27 and spoke to Lee who i must say was the most unfriendly when i gave him my details and that i was approved on the 18th June and just wanted an update and then he informed me that i was declined, when i asked for more information he said he was unable to give me any, when i asked why, he said nationwide emailed my broker, who i spoke to on the same day 30mins later who said that they are telling lies as she has never received any emails from nationwide regarding my mortgage being declined. Even after scrapping every penny i have and making up the further 5%. As this is shared scheme and i am trying to be a first time buyer but i am disgusted at nationwide.

Got this reply back today, this man must have a time machine as he is emailing into the future

Following my telephone call to you, please find the results of my investigation into you complaint below:

I have broken you complaint down into three parts:

1 – Mortgage approval with additional 5%
2 – Decline of case
3 – Advice to broker of decline

My findings are:

1 – There was considerable activity on your case on 16th June and the case went from unaffordable to affordable. There is no case note relating to an additional 5% from yourself but I would expect that this was an increase in deposit to bring the case into affordability.

2 – Unfortunately your case was declined by Head Office as when the application went through credit scoring we were unable to verify the address history.

3 – I cannot agree that the broker had no contact. I have on file an e-mail showing that the broker was advised that the case had been declined, which was was sent at 18:06 on 16 July to Susan Edinburgh Mortgage centre using the e-mail address of removed


I do understand how you feel at the case being declined but I regret that as it was declined by Head Office it cannot be appealed, as your broker was advised.

lionormandy

*** AVOID BY ALL MEANS ****

I have been in the same situation with nationwide: after having an offer accepted back in march 15 my sale fell through, and am now going through the whole process again as if nothing ever happened...but this time it's taken so far 4 weeks and this is for a mortgage in principle (I am a NW customer and mortgaged with them).
I have been ringing NW on a daily basis and most of the time I am being told docs are with underwriters and it will take a max of 3 working days. The documents brought in to the branch (as online account statements and docs sent via emails are not valid for NW) were not all scanned by their own staff (!!) so had to resend and after 4 weeks we are being told that one of us need to provide proof of address - and that's 4 weeks after the initial request. The whole operation at NW seem extremely disjointed and you no longer have a single point of contact with them - it's like ringing a call centre on the other side of the world. Since it is dealt on the phone you have no email confirmation of anything nor conversation, nor can you send email direct to anyone. So if it goes wrong or something is missing there is no proof but just log in the time of call and FULL name of the person you spoke to in order to back up your facts.

I have been a customer of NW for 22 yrs and I think it's time to get back to a bank - the 'people's building society' is no longer what it was and is just a big corporate process driven machine.

I thought I would save on the mortgage by porting my existing mortgage but the stress and slowness of NW will make me happy to pay for real service elsewhere.

If anyone knows of a person at NW that is a contact there dealing with Mortgage that would be very helpful. I don't want another 'computer says no' Robot on the phone.

Reading all these posts it looks very hit and miss with NW unfortunately - but definitely not consistent

macwatson

Hi
I applied for remortgage last year in branch and the process was relatively quick, however we applied for further borrowing online/via phone on May 22nd and are still waiting almost 4 months later, the process has been very very stressful and service provided appaling. Don't apply if you have a heart condition. Would not recommend

muhandis

14 August - Application submitted (via broker)

18 August - Application rejected, stupid admin mistake by NW, appeal upheld

20 August - Application rejected again because the address finder on NW's application portal used our current address in the wrong order (flat no. and street number interchanged), appeal upheld

Both times NW did not give any reason for rejection, the broker had to escalate it to BDM to figure out why they had rejected so we could appeal

03 Sep - Valuation carried out

04 Sep - Confirmation that valuation report has been received by NW

Nothing after that yet. Broker says that NW is experiencing a huge backlog at the moment and their BDM has been very hard to reach over the past week. He has however managed to confirm that the valuation was satisfactory.

Broker says that there will be more delays once the document verification starts as NW underwriters are among the more picky ones. Unfortunately, because of the way my salary is structured, only Nationwide's criteria works for me.

I was hoping to hear back by the end of this week, looks like that isn't going to happen.

macwatson

A few words from myself on this matter; DON'T MORTGAGE, RE-MORTGAGE or ASK FOR ADDITIONAL BORROWING ON A MORTGAGE FROM NATIONWIDE. I have been awaiting decision for 4 months on an additional borrowing amount on my mortgage and still have no luck. Nothing wrong with my financial situation - they just don't seem to care. My agreement in principle and terms have changed 4 times since the start of the process - all very time consuming and stressful, feel like I'm climbing up a greasy pole. My advice, go elsewhere save any hassle

Lucifa42

All via broker.

7 July: Agreement in Principle

23 July: Offer subject to valuation

4 August: valuation

7 August: Full offer

With all the stresses we went through exchanging on our property, I'm still so surprised our mortgage offer went through without a hitch!

sunnyx

Hi,

24/08 - Initial DIP with Halifax to search for new builds.
11/09 - Viewed property.
12/09 - Reservation confirmed. Developer wants to exchange in 28 days.
14/09 - Solicitor Instructed.
15/08 - Meeting with Broker.
17/09 - Broker applied for Nationwide.
18/09 - DIP accepted.
19/09 - Text received from NW confirming application received. Valuation debited from my account.

Now awaiting valuation date. Will update soon hoping to receive a mortgage offer

xnoxxnox

Applied on the 16th September, had to redo DIP on the spot, as wanted to lower LTV from 90% to 85%. Payslips that were attached to previous case, did not make it across to the new application, despite emailing them that nationwide now mortgage consultant during the appointment. Had to pop into branch today to get them refaxed to the case. State is "Other Document received awaiting approval".

Doing flexclusive, subsidised legal fees & free valuation. Valuation is booked for tomorrow. Solicitors is the infamous O'Neill Patient - got to keep them on a short leash, but seller has all documents ready and so do I.

Freaking out. The seller had one sale fall through, thus quite eager, and I feel uncomfortable holding them up, due to delays external to me (i sent all paper work off to everyone).

EDIT: got mortgage offer today 25th of September. That was quick!

catriona79

Hi,

My experience has been overall positive.

7/10/2015 - appointment with mortgage advisor in branch. Took 3 hours, I escaped with a headache and the advisor even wanted to know the first name of my partner, whoh has no part in the mortgage at all! That was a bit intrusive and unnecessary. Took detailed notes of my personal situation, including plans/intention to have children etc. :eek:
I prepared well for this and took all necessary documents with me for him to photocopy.
I had an offer in principle, but mortgage adviser was unable to submit the paperwork, due to no Flexclusive account being held by me, which was fine as that was a condition of this offer.

Then I had to apply for a flexclusive account to get the 1.69% APR.

Interestingly, the broker told me that I absolutely needed to do it in branch and not online, as an online application would delay the process. So I booked an appointment, in work time (had to take time off), which I then couldn't fulfil (work pressures) and had to cancel and applied online the same day. Got my account number and sort code. Also, funnily enough (!!!) I got a £100 incentive for opening online.

14/10/2015 - follow up appointment, an hour when he wasted my time going over the paperwork and trying to sell me insurance.
Re: opening account in branch vs online, he was absolutely fine with just having the account number of the account opened online. So obviously he was trying to get me to open the account in branch so that one of his colleagues can get the £100 incentive (or similar). Didn't make a great impression overall.
But he submitted the application and it was approved instantly.
Online valuation did not show a high enough price, so I asked for a drive by valuation instead. He made notes and we parted.
Texts from the conveyancer received, I logged in online and completed online questionnaire.

19/10/2015 - nationwide booked a full valuation. Had to ring the company to say I would prefer a drive by as I'm in work and can't be present. The advisor obviously should have made sure this was in the notes, instead of the name of my partner!!!

20/10/2015 - valuation positive, formal mortgage offered issued.

22/10/2015 law firm confirmed receipt of documents

29/10/2015 - law firm texted to say they received a formal offer from Nationwide (bit late!)

7/11/2015 - law firm text to say they have requested funds from the bank to be drawn down on 13 November in readiness for completion on Monday 16 November.

I requested a 15/11/2015 completion though, so I reckon we may have completed 9 November if I had left it to them.

Law firm emailed to say I can request the surplus funds (£350 or thereabouts) to be paid by cheque, to avoid the £25 transfer fee, which I have taken them up on.

So, all in all, even with the week's delay to open the current account (part of offer, so Nationwide within their right to do that), 7 October - 16 November, six weeks in all.
I reckon I could have got it done in 4-5 weeks without the account and if I had let them complete at the earliest possible date.

So, process wise, faultless, but did not enjoy the time with the mortgage advisor, who made a bad impression of being dishonest and unnecessarily intrusive.

I resented him for asking me immaterial questions about the financial and personal circumstances of my partner (my application was in my sole name) and also about fibbing to me re current account opening and trying to waste my time attending another hour's meeting to open the account in branch, having to take time off work at a short notice, where an online application (5 minutes!) was enough.

For reference, I applied for the 3 year tracker at 1.69% APR and 60% LTV.

shar46y

We are having to move house for work reasons, and so have once again thrown ourselves on the tender mercies of the Nationwide mortgage application process. I was hoping things would be better than before, but it looks like I'm going to be sorely disappointed.

Our timeline so far:
Late-September - DIP
7/11/15 - Offer accepted on house
9/11/15 - Full mortgage application over the phone, an agonising process which took nearly 3 hours, requested full structural survey.
10/11/15 - Took supporting documents into Nationwide branch to get them copied/scanned/linked to our application.
...
Silence
...
16/11/15 am - Rang to ask about survey because we hadn't heard anything. Told survey date was "on hold" because we had asked for a full structural survey. They said they would have to call valuation team to check, then put me on hold, then came back on the phone to say that the surveyors "are right now on the other line speaking to your estate agent" (Hmmm, what a coincidence, think I). Later they called me back and said they have no availability until the end of next week, so it's looking like at least 3 weeks between offer accepted and survey. But, what the heck, maybe it is an incredibly busy time for house buying eh?
16/11/15 pm - Got email from Nationwide point-of-contact person, introducing themselves, and saying that some of our required documents are still outstanding. There follows a list of all our required documents :mad:, which we had of course already taken into branch and seen attached to our reference number.

Am I wrong to have the impression that Nationwide had completely forgotten about our mortgage application (how does that happen in this age of computers?) and were suddenly reminded when I phoned up this morning? And where on earth have our confidential documents ended up, if they didn't in fact get attached to our application?