Nationwide mortgage - what's next and how long?

littlesparkles

Success! I had a text to say valuation was satisfactory and a formal mortgage offer is being posted today. So that is 8 days from full application to offer and just one day after the valuation took place.

pinky83

Congratulations!!

Windlepoons

Congrats, I too had my valuation with Nationwide Yesterday, haven't heard anything back yet though . The wait is killing me, and it is very hard to remain positive when all you can do is think of things that may stand in the way.

I suspect mine is going to be a complicated one because a lot of my monthly income is through a performance based bonus, and while the bonus is garunteed the amount is not, having said tht it is very consistant which can be shown through months of payslips, and my P60.

On the bright side, I know I can afford the mortgage, and I have no outstanding debts, so im hoping the underwriter can see this as well.

littlesparkles

For info. We are probably an example of a simple application. We are borrowing only around 2x our joint salaries. We both have stable jobs and 15% of our own deposit plus the builder's 5% (new build). We selected a property well within our affordability calculations and could have chosen a much more expensive one but decided to be sensible I guess! I have opened a nationwide current account and we went direct through a branch rather than a broker for the mortgage application. We provided identification documents, P60s and payslips, evidence of deposit at the point of application and were not asked for anything else. We have no debt apart from student loans and our current mortgage which will be paid off as part of our sale. I am very impressed with Nationwide - especially after reading about how slow they have been recently.

I am now wondering whether it's worth asking them to change to the 0.1% lower rate. I've already had them lower it once...

Good luck to everyone else applying through Nationwide. I personally would recommend the direct route.

Princess_giggles

Hi we submitted our full application to NW on weds 15th August received the text but haven't heard anything since. It really is a nail biting time. Does anyone have any idea on timescales at the minute? Ours i would imagine is a quite straight forward case not even 2x our joint income with 10% deposit all done through our broker Thanks

Brazuca

Princess giggles - which text did you receive? Confirming booking of the valuation? When will it be done?

Princess_giggles

Sorry only the text to confirm that the application has been submitted. Just wondered what the time scales were at the min?

Polly05

probably a few weeks...

Brazuca

My timescale here:
https://forums.moneysavingexpert.com/discussion/3913891

Nationwide are really quick and they have a very good system. Really happy with them! Good luck!

Princess_giggles

Thanks for that it's horrible waiting!hope we hear this week sometime.