Nationwide mortgage - what's next and how long?

RainbowLaura

I was asked for an employment reference on Monday, which I think is because I have had my job for slightly less than a year and therefore have no P60. I am a little bit worried though, especially since I get a couple of hundred pounds a month in duty pay and the reference form only asks for basic salary, commission, bonus and overtime. I took the form into payroll yesterday and the lady assured me that she would include my weekend duty pay somewhere as it is a regular payment... hopefully it will be okay and won't hold things up too much.

RainbowLaura

Our offer was issued today, what a relief!!! The employment reference form was sent back on Wednesday. That makes the time from application to offer 22 days (16 working days), though there were 10 days between them requesting the employment reference and receiving it so that clearly delayed things a fair bit.

Good luck to everyone else going through this scary process

shonzyd

FINALLY GOT THE KEYS TODAY!!!! i can breathe a sigh of relief

geek83

bit of a recap -

NewBuy 95% and using an independent financial advisor who has been a family friend for a long time. He's been great and has been doing this for 20 years so is very knowledgeable.

27th Feb - DIP
1st Mar - Application sent
The whole of march spent providing all kinds of evidence.

Final amount £10k less than what we needed, so we have scraped the rest together from various family sources. Just have to provide one final letter as proof of additional deposit and then we're moving to valuation.

PHEW! almost there!

Most stressful process ever...I'm glad we've bought a big house, I never want to move again!

e45

geek83 wrote: »

bit of a recap -

NewBuy 95% and using an independent financial advisor who has been a family friend for a long time. He's been great and has been doing this for 20 years so is very knowledgeable.

27th Feb - DIP
1st Mar - Application sent
The whole of march spent providing all kinds of evidence.

Final amount £10k less than what we needed, so we have scraped the rest together from various family sources. Just have to provide one final letter as proof of additional deposit and then we're moving to valuation.

PHEW! almost there!

Most stressful process ever...I'm glad we've bought a big house, I never want to move again!

Wowzers! That is a nightmare!!!

shiirley

Has anybody applied for a Nationwide mortgage recently? How long does Nationwide take to offer the mortgage after valuation is done?

I'm working myself up into a tizzy by just imagining all sorts of potential horrific outcomes. I'm a First Time Buyer with a hefty deposit (46% LTV), single, earning £40000+ per year, looking to borrow £50+k. I've contacted my mortgage consultant, and apparently, he is just waiting for the underwriters to approve the documentation...

Here's my timeline:

07/06/2013: DIP over the phone. Referred decision.
10/06/2013: DIP offered.
12/06/2013: Full mortgage application. Had all of my documentation.
14/06/2013: Valuation done.
17/06/2013: Text saying that valuation is satisfactory.

fawny

Hi,

Our offer was made the same day as the valuation was done. We had a text saying val was all ok, followed by another one within a few mins saying the offer was granted. It then took about 5 days to get the paper copy so I'd say your offer should be on it's way. Give your broker or adviser a call. Best of luck.

sleepyheadalk3

shiirley wrote: »

Has anybody applied for a Nationwide mortgage recently? How long does Nationwide take to offer the mortgage after valuation is done?

I'm working myself up into a tizzy by just imagining all sorts of potential horrific outcomes. I'm a First Time Buyer with a hefty deposit (46% LTV), single, earning £40000+ per year, looking to borrow £50+k. I've contacted my mortgage consultant, and apparently, he is just waiting for the underwriters to approve the documentation...

Here's my timeline:

07/06/2013: DIP over the phone. Referred decision.
10/06/2013: DIP offered.
12/06/2013: Full mortgage application. Had all of my documentation.
14/06/2013: Valuation done.
17/06/2013: Text saying that valuation is satisfactory.

We got our DIP back on the 24th May. We then completed our application over the phone and they sent out the forms to be signed and sent back with documents. We sent this on the 27th May and it wasn't until the 6th June we got an email from the person looking at our case asking for proof of deposit to confirm our "bonus" (?) We replied to his email with the attachment showing proof of deposit..phoned at the end of the second week to be told it had to be sent in the post. Would have been helpful if the guy had been clearer!! So that was posted on Monday and now waiting to hear what's next There's been no mention of a valuation although we are in Scotland so from what I read this is done differently. Just been a nightmare hanging on waiting eh

brightsprite

Hi, we got our DIP and applied fully on 4th June. Valuation completed and satisfactory on 7th. Still waiting for decision I'm guessing from underwriter but I'm going to get more than slightly annoyed if we get declined and have shelled out for valuation. I know some companies do the valuation last - I take it this isn't the case with Nationwide? Does anyone know? X

mightyblues78

shiirley wrote: »

Has anybody applied for a Nationwide mortgage recently? How long does Nationwide take to offer the mortgage after valuation is done?

I'm working myself up into a tizzy by just imagining all sorts of potential horrific outcomes. I'm a First Time Buyer with a hefty deposit (46% LTV), single, earning £40000+ per year, looking to borrow £50+k. I've contacted my mortgage consultant, and apparently, he is just waiting for the underwriters to approve the documentation...

Here's my timeline:

07/06/2013: DIP over the phone. Referred decision.
10/06/2013: DIP offered.
12/06/2013: Full mortgage application. Had all of my documentation.
14/06/2013: Valuation done.
17/06/2013: Text saying that valuation is satisfactory.

Hi,

Our valuation was done on Tuesday 16th April, confirmation that valuation was satisfactory was received on Thursday 18th April. Got a phone call from broker to say that formal offer had been approved on Friday 19th and received hard copy of the offer in the post on Saturday 20th.

As far as I know, Nationwide ensure that they are happy with all paperwork before instructing the valuation so it is one of the last things to be done before final checking and issuing of the mortgage offer (if the valuation is okay of course!)

With a 56% deposit, I imagine it would have to be something pretty drastic to throw a spanner in the works at this stage, so my advice would be to just grab a cuppa and try and relax a little !

Hope you hear back from them soon, keeping my fingers crossed for you!

Cheers,
MB78.