Nationwide mortgage - what's next and how long?

Brazuca

Oh, and Nationwide didn't check my Experian score again! I have the subscription and they didn't check at all. So not sure on how they based their declension.

I just called them no they said that they are not an underwriter and they can't explain why!
Hopefully AskNationwide can advise better. I tried to call them, I am abroad on holiday, and this just happens! Holiday from hell!

Wh05apk

Brazuca wrote: »

Oh, and Nationwide didn't check my Experian score again! I have the subscription and they didn't check at all. So not sure on how they based their declension.

I just called them no they said that they are not an underwriter and they can't explain why!
Hopefully AskNationwide can advise better. I tried to call them, I am abroad on holiday, and this just happens! Holiday from hell!

Where/how did you apply?

If through a broker/branch, they need to chase this and find out why.

There should be a reason, probably just someone mi-interpreting soe info on the application, thenormal thing is for a loan/credit card which they have not excluded.

Brazuca

Thanks for your reply. Really much appreciated!
Our joint income is 76K and the loan is 172K.
About 5K on other commitments and hats it. And it was disclosed since beginning! I think we are not over stretching the mortgage by requesting 172K.
I contacted the branch and wrote an email to my contact there. Also asked AskNationwide.
It's all upsetting as I was doing sightseeing tour in New York. Always looked forward to go there (first time in the US and holiday booked ages ago, before the mortgage application).
Then I went to a place with a free wifi in Times Square and called the solicitor is Skype after her email. This is when holiday went down hill!

KDandL

Hi again fellow NW lendees.
I cant believe that on Tuesday NW told our broker that they wanted 6 months statements from ALL our accounts (personal current, savings, credit, isa, business etc) and that they would review these and give an answer in 7-10 days. Ah hello, the 7-10 day turnaround was mentioned 7 weeks ago!!!!!! Anyway I emailed them all to the broker cause I dont want to hinder this anymore and he said he would chase them early next week. Well our broker decided to go into the office today (on his day off as he works Saturday) and said he spent an hour on the pone with them trying to find out whats going on and why is it taking so long. We have excellent credit scores and have provided all they asked and are putting more than 40% down on a very expensive property so why is it so hard to make a decision. They apologised profusely for it taking so long and it seemed like it had been passed back and forth between so many people. ANYWAY.... good news, finally they agreed our mortgage offer. The text came through as soon as he got off the phone with them.
Seeing as all the conveyancing was completed on Friday last week this is the last thing so hopefully we can exchange/complete at the earliest opportunity.
So, for those who have a not-to-simple application and have been waiting as long as us, please have hope and also hassle them constantly!!!!!

ingenious_buttons

Hi all

Think I am having a similar experience to many people here, things are just dragging on but no sense of when am likely to hear of offer.

Mortgage approved in principle beginning of August 2012 - am first time buyer with 15% deposit.

Decided on flat, owners keen to sell, verbal agreement in place but advised by solicitor for obvious reasons not to sign without a mortgage, so application went into Nationwide via broker on 25th August 2012. Texts confirming application received within the hour.
Text saying valuation satisfactory received 5th September.

Silence for nearly three weeks.

Got in touch with broker to chase things up. Nationwide got back in touch to say sorry for delay but home report (I'm in Scotland - equivalent of basic survey) is now out of date so valuation no longer satisfactory! They had known this for nearly a week and had not let us know that things had stalled.

Sellers agreed to pay to have home report refreshed, that has gone through now and we are back to waiting.
I had proposed a long closing date (ten weeks) when original offer went to sellers which they accepted but it is now looking like we won't complete within that time as nearly half way already and no sign of mortgage.

Keeping fingers and toes crossed as will be gutted to lose this flat. Disappointed by lack of feedback from Nationwide and broker so far.

Hope I don't run into any of the other problems noted by people above - especially as some of my deposit has come from accounts back home in Ireland and am only transferring it in now!

best of luck to everyone else going through the process

tiny_atoms

Its a nightmare isnt it...all it is is a big long wait for things to go wrong. Our application went through really fast (2 weeks). Now its dragging at the conveyancing stage of things! Instructed the solicitor 2 weeks ago and the vendors solicitor has only just started drafting the contract! Unbelievable! People keep saying that they probably have other cases in front of ours but I just want it all done.

ingenious_buttons

Early morning wake-up today... text message from Nationwide at 6.20am to say valuation satisfactory again (with refreshed home report) and then at 6.23am another text to say they would be issuing a formal mortgage offer, hurrah! :jSo about five weeks in all from application to offer, with some chasing from my broker.

Now I just hope the solicitors are on the ball and things can be wrapped up in the next four weeks before the agreed closing date.

Good luck everyone, hope you're not waiting too long.

Halva

I am having an absolutely shocking time with Nationwide.

I applied 12th August, got offer in principle. Sent in all requested documents and had them returned no problem.

Then the problems began. We decided after receiving the offer to change from their free valuation to a homebuyers report. I phoned, instructed them and on 9th September someone called me and took payment.

Then nothing happened. I gave them a week, thinking they were just slow. I called and the survey hadn't been instructed. They promised to do so.

Nothing happened. So after a few days I called again and once again, nothing had been done. Rinse, repeat. Eventually, someone figured out that there was a fault.

The fault has been with the fault team for over a week now. On Tuesday 25th Sept, I had it escalated. Someone promised that it would be sorted in 24 hours. 24 hours passed. Nothing happened.

Worse, I am told the new business team cannot dial out so the people I have to rely on to help me, cannot update me themselves.

I have asked how to complain and someone has given me a postal address to write to - but I am now in danger of losing the house I am trying to buy. Understandably, the vendors are starting to get itchy and I don't blame them.

Can anyone suggest anything else I might try?

Thanks

Halva

To help anyone out in the same situation as myself, I finally got my mortgage application moving by contacting Nationwide via twitter. All other avenues had failed.

Their account is @asknationwide and they are pretty responsive.

I was finally contacted by a team leader from the new business team, who was able to get my survey instructed. It went ahead on Monday.

Every individual operative was helpful - they just didn't seem to have the power to escalate things any further.

csq

We have moved into our own flat last Saturday

The entire mortgage application process with Nationwide took exactly a month. We sent the paper application on last Friday of August and our broker received the offer via fax on last Wednesday of September, and we received the letter on Friday (on the day of exchange and completion!! - crazy, but we made it! ).