Nationwide mortgage delays go on and on and...

sweetpeagreen

Our paper application form was sent to Nationwide 5 weeks a go. It went to mandate last week, and our broker said we will have the offer within 24-48 hours. On the 48th hour, they noticed we don't fit their criteria for 90% ltv, and will only offer 85%. We desperately scrabbled around for an extra 5% deposit and luckily my father was int he position to gift the money to us - phew! We then provided a letter from my father confirming the gifted money. they received this on Monday. We were told by the broker we will receive the formal offer from NW straight away, this then became 24-48 hours, then on the 48th hour it became thursday, then we were told definitely by today, now we are told by our broker that NW have said they can't guarantee today!

I'm very concerned now because the estate agent is on our backs, and it seems the broker doesn't hold much weight regarding getting this moving for us. We were let down from the start by the broker having been miss sold the 90% mortgage, and now I feel we are completely in the dark and being strung along. I'm tempted to contact NW myself but know this will be fruitless.

Anyone else experiencing similar, and have any advice to get things moving?

Thank you

Dave_Ham

Nationwide have been very slow recently, although not sure why the Estate Agent is getting so involved.

Just remember, given your position and if worst ways you do not get the mortgage offer until next week - no matter what the Estate Agent says, no one else can get to the position that you are in quicker.

You are and will be their first choice and therefore tell the Estate Agent to go away nicely and the offer will be here when the offer is here.

Stick up for yourself - all the best

twingos

Hi, am new to MSE, but having massive issues with Nationwide.
my mother in law is remortgaging to them, all valuations etc went through in august, but no offer has occured because they say they need a copy of her pension award letter. As her pension changed when my father in law died, she has not received a new award later.
Have had info from DWP sent detailing her new pension amount which the broker has sent on to Nationwide but they wont accept. They have said even though it has the same info on it they need the award letter? This seems crazy to us, and not a little beurocratic. Would appreciate some advice on what to do next, DWP have sent out what they say is the best they can do until next years award letter is issued.

kingstreet

Lenders are beaurocratic. They have a list of ways of evidencing income and they use this to ensure they are not being targeted for fraud.

She is using an intermediary and this places the onus on the intermediary to establish with the lender what will, or won't, be accepted as evidence of income.

If this hurdle cannot be cleared, the intermediary should be advising the client to apply to another lender who will not be as demanding.

QBSBuck

sweetpeagreen wrote: »

Our paper application form was sent to Nationwide 5 weeks a go. It went to mandate last week, and our broker said we will have the offer within 24-48 hours. On the 48th hour, they noticed we don't fit their criteria for 90% ltv, and will only offer 85%. We desperately scrabbled around for an extra 5% deposit and luckily my father was int he position to gift the money to us - phew! We then provided a letter from my father confirming the gifted money. they received this on Monday. We were told by the broker we will receive the formal offer from NW straight away, this then became 24-48 hours, then on the 48th hour it became thursday, then we were told definitely by today, now we are told by our broker that NW have said they can't guarantee today!
...

Anyone else experiencing similar, and have any advice to get things moving?

Thank you

Hi Sweetpea,

you may recall mine took about 2 months from paper app to offer.

Also, when any correspondence went back to NW it returned to the bottom of the backlog pile, so mail wasn't being dealt with for 5 days or so.

From my broker returning the final offer request to paper offer arriving took...TBC (I am off to check)

kingstreet

sweetpeagreen's original post was almost a month ago, QBSB.

QBSBuck

Ohhhhhhhhhhh lol (blushes and sculks away). It took 10 days btw :rotfl: