Passed to Mandate?

Jwooly

5 weeks after putting in a full application, I got an email from the Nationwide mortgage advisor saying: "can now confirm your case has been passed to mandate, so basically the offer should be done now".

Does this just mean the case is being rubber stamped, and should have the full mortgage offer really soon? We were originally told to expect the full offer in the middle of last week, am getting very annoyed that it is taking this long!

harvey115

Nationwide customers are seeing these delays from the last month or so.

Best of luck with your Offer Letter!

jifferjen

Jwooly wrote: »

5 weeks after putting in a full application, I got an email from the Nationwide mortgage advisor saying: "can now confirm your case has been passed to mandate, so basically the offer should be done now".

Does this just mean the case is being rubber stamped, and should have the full mortgage offer really soon? We were originally told to expect the full offer in the middle of last week, am getting very annoyed that it is taking this long!

Hi Jwooly, ive just been told the same thing from Nationwide, just wondering if you had now recieved your mortgage offer? if so how long did it take after you recieved your email?

thanks

Jwooly

A few days later, I think, I got a text confirming the offer, with a letter in the post a couple more days after that. It was about 6 weeks from application to offer in total I think.

bambam1980

Good to know! Just spoke to Nationwide and my application has also been passed to mandate. They said in 99% of cases this is simply a rubber stamp procedure, and that I should therefore expect to receive an offer in the post in the next 3 days.

Hopefully this is the case, as it's now been just over a month since I made my full application and I've been getting very nervous as to why things are taking so long.

lou72

Hi, we've been waiting over 4 weeks with Nationwide, they've lost our evidence once so had to ressubmit it! We've now been told its gone to the underwriters, is that the same as mandate?

bambam1980

Hi Lou72,

Whilst I'm not exactly sure what they mean by "mandate", it may well mean the underwriters.

The guy (Andrew) handling our application called on Monday and simply said that he had everything and was therefore going to pass it to the underwriters. When I called yesterday I was then told by the call centre staff that Andrew had 'passed our application to mandate'. So the two things may correlate.

lou72

Thanks for that bambam, i was getting a bit worried too. today they hae said its being looked at today and they should have an answer tomorrow. Keeping my fingers crossed!

Windlepoons

Hope it all goes well for you.

I am having a hard time waiting, not being able to sleep and constantly thinking about my application, and I still have 5 more working days to wait for the underwriter due to the backlog.

Everyone seems certain I will get it, except me. I keep running things through my head and thinking of every little thing that can go against me.

The mortgage I have applied for is £781 a month for the first 3 years, I take home more than 3 times that and have no debt, so know I can afford it. However my concern is that my monthly basic salary is low, the rest is car allowance, london allowance and a consistant performace bonus.

Plus my credit file shows I owe £1116 on my barlaycard, I have paid this off already, but nationwide have no way of knowing this.

bambam1980

Just to update, finally received an email and a text message from Nationwide this morning confirming that our mortgage application has been approved and that the offer has been issued! Such a relief!

Windlespoons, I know exactly how you feel! I don't think I've slept passed 5:30 in the past 4 weeks as I've been so nervous about it all, mainly because I can't imagine us finding another house like it if this one falls through! If you're concerned that the credit card balance showing on your credit file could be an issue, I'd advise getting hold of a statement showing that you've paid off the balance. At least you're then prepared to send proof immediately should it be required, minimising any delay.

Hoping for the best for you and Lou.

GMS

bambam1980 wrote: »

Hi Lou72,

Whilst I'm not exactly sure what they mean by "mandate", it may well mean the underwriters.

Mandate means the approval of the application. Mandates are set at different levels. For instance an underwriter may have a mandate of £200,000 meaning they can approve all loans up to this amount. A senior may have a mandate of £400,000. Managers £500,000, directors £1,000,000 with board approval needed at above this.