Nationwide mortgage - what's next and how long?

mightyblues78

brightsprite wrote: »

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

Hi,

AFAIK, Nationwide instruct the valuation once they are happy with the paperwork that they have received, and it is in fact one of the last things to be done before the mortgage offer is made.

There could be a number of reasons why you haven't heard back, the number of applications currently being dealt with for example. Did you apply through a broker? It may be worth asking them to check with NW seeing as it's now been over a week since the valuation was recorded as satisfactory.

Good luck, hoping for a good result for you.

Cheers,
MB78.

oxfordmark

mightyblues78 wrote: »

Hi,

AFAIK, Nationwide instruct the valuation once they are happy with the paperwork that they have received, and it is in fact one of the last things to be done before the mortgage offer is made.

There could be a number of reasons why you haven't heard back, the number of applications currently being dealt with for example. Did you apply through a broker? It may be worth asking them to check with NW seeing as it's now been over a week since the valuation was recorded as satisfactory.

Good luck, hoping for a good result for you.

Cheers,
MB78.

My valuation was instructed the day after i applied. Sent in our payslips a week and a bit later.

geordiepaul2001

Our valuation was completed recently and we received a text to that effect. Nationwide have however then requested further paperwork - an employers reference.

shiirley

mightyblues78 wrote: »

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.

Thanks for the reassurance, MB78. My family and friends have been telling me to relax, because it's very unlikely that I would be rejected with such a hefty deposit and a steady and comfortable income.

Anyway, I tried contacting my mortgage advisor again today, and was told that he's away until Friday... and I *think* the mortgage advisor is the one who has to issue the formal offer once the underwriters have passed the application. We will see...

agonyjohn

We applied today FTB with 88% LTV in branch - she did the budget at the end as we have alot of disposable income - so submitted today... will keep all updated!

shiirley

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.

26/06/2013: Text at 9:30am saying that formal mortgage offer has been issued!

Result! The customer service at Nationwide is exemplary, and the application has been quick and painless, considering that I hold a visa...

oxfordmark

Case was assessed yesterday and being sent to the underwriters today. She said i should get the offer confirmation by Friday (tomorrow)

agonyjohn

application submitted yesterday 26th
survey being done today 27th!

Cleverclogs

This thread has been helpful reading as we wait for our mortgage offer. We're FTBs and have applied for a 95% Save to Buy mortgage with NW, and gone for their flexclusive with free legal fees & valuation. Our timescale so far:
DIP issued in branch - 19 April
Offer accepted - 11 June
Full application in branch - 18 June
Valuation booked & conveyancers instructed - 18 June
Valuation & survey completed - 26 June
Valuation satisfactory - 27 June
So far we haven't had any issues but we're early stages yet. We've got the legal paperwork to keep us busy while we wait for our HBR & mortgage offer. Fingers crossed!

agonyjohn

well the valuation and HBR has been done but as yet no update on the information so cant be sure what is happening...