Nationwide mortgage

slscarborough

Cara79 wrote: »

Hi,
In the case of our buyer (a friend - ftb) he applied for the mortgage on the Monday, the valuation was on the Wednesday but then it took a further 5 weeks to get the offer. In that time they requested more info etc
X

Our Broker has advised us it could take up to six weeks!!

Rm-ca

It didn't take that long in my case. I went via a broker and I had the mortgage offer with 10 days of the valuation :-)

I should be completing the first week back after the new year.

House buying and selling are stressful process aren't they!

stevd

Nationwide applied - 19th October
Valuation done - 26th October
paperwork accepted - 29th October

But then they needed as separate account of rent paid, supplied not satisfied (time wasted - 2 weeks), requested landlord reference sent immediately but they did not receive, faxed but still not received, faxed again this time received (again another 2 weeks), finally after 7 weeks they offer 15000 less than the AIP, reason they could not find other income satisfactory. My mortgage adviser called and explained everything but the underwriter was arguing complete inconsistently.

The above exercise was only to earn the valuation and booking fees and 7 weeks wastage, my kids were down in tears I was totally upset because I paid the fees to adviser as well.

Now went to Halifax (very similar rate - no fees, cheaper valuation & cash back) on the 7th December, 14th Valued and 17th Mortgage offer received for full amount, letter received the next day completing in January but could have been in November if Nationwide had taken off their sunglasses and read my paperwork. Nationwide never again.

slscarborough

Our application went in on 21/12/12 and we received a text the same day to ring and book the valuation. We couldnt get hold of anyone to book the survey until 27/12/12 and then they advised us that our lender had not yet instructed them to do the survey.

Will have to chase up the broker on Wednesday but the wait is killing me!!

They have also asked for bank statements showing our rent payments for the last 6 months. They already have our bank statements but we have only been paying our rent by direct debit for 6 months. Prior to this we paid on the internet and only the web address shows on our bank statements. Our broker seems to think this will be satisfactory but I am not sure.

lou34_2

Were still waiting! Be around 10 weeks now. I phone them daily....they just keep saying its with the underwriter,ur top of the pile....that was weeks ago!

poet123

My son applied and the offer was through within 7 days, and that was in December. Broker was thorough though and he had to send everything in upfront, pay slips, bank statements, proof of deposit, P60. Valuation was done on 3rd day and it was plain sailing. Broker said Nationwide work on a 12 day turnaround so it was very fast.

slscarborough

Valuation booked for tomorrow - Broker has advised we have an offer subject to valuation. Am getting excited now!!

UKSBD

This is just for a further advance of £50k on a virtually mortgage free property valued at £240k (for modernising)

Application completed 7/12/12 (told no other paperwork required)

Satisfactory valuation received 13/12/12

Want to know what work the money is for and the name of my accountant (I am company Director) 20/12/12 - Sent but they say they never received it.

Want to know what work the money is for and the name of my accountant (I am company Director) 28/12/12 - Sent but they say they never received it.

Still not heard if they have received 3rd lot of paperwork

All this for just a £50k advance on £240k property with £700 current mortgage on it (with Nationwide already)

Annoying thing is about 4 years ago I paid a £50k lump sum to reduce it.

Brazuca

Hi, does anyone know if after completion Nationwide will setup a direct debit automatically?
I completed on the 20th and the payments should be on the 1st of each month.
I have been checking my direct debit list and the Nationwide one is still not setup. I just want to make sure that I make the payments on time and nothing is missed out.
I know that we had the Xmas holidays, but I just want to keep my credit history in a good shape.
Thanks!

poet123

On the morgtage offer my son received it states: on completion you will be contacted after between 10 and 14 day to set up payment details. Unless you have completed a DD they cannot set one up.