Nationwide Mortgage Offer

azure99

We made our full application with Nationwide last week. I received a text stating that the valuation would go ahead on Tuesday. This morning I have received a text stating valuation was acceptable and the two minutes later I received a text stating they have issues a mortgage offer!

My question is I have yet to instruct the solicitors to start searches etc. as I wanted to be sure we would get a mortgage first. Are there likely to be any conditions of this offer and can I find these out now or do I need to wait until the offer comes through the post?

Should I just go ahead with the solicitors now? I don't want to incur costs of searches to then find out the offer is based on a bigger deposit which we don't have.

Crashandburn

You don't necessarily need to wait for the mortgage offer to come through to start the searches. Perhaps being a bit over cautious in my opinion.

If still a concern, wait for the mortgage offer to come through for the amount you need and check the back for any conditions that may have been added into it. Also check the valuation to see if any works need doing to the property.

Once happy with all of that, then pay for the searches. Offer should arrive in the post over the weekend so wait till Monday to pay the fees. Can't see 24 working hours slowing the process down too much

japmis

I'm doing mortgage and solicitor concurrently, NW mortgage can take 6 weeks, as can solicitor = 12 weeks!! Way too long for my liking.

Jackop

Depends on your circumstances. Im in the same process with nationwide. As soon as they passed off our incomes I instructed my sols to start searches. As I knew the valuation would come back fine. All you are doing is waiting for post to arrive now, it makes no difference. I would say get the ball rolling.

nickyg2000

We waiting for the valuation to be accepted before instructing out solicitor to start the legal work and until receiving the offer until starting the searches.

Our offer took 4 weeks to come through but the searches took 2 days to come back after she said allow 3 weeks. I would just wait till you have the offer. I'm completing today and the whole process has been 11 weeks.

lee111s

I've just bought my house...as soon as the offer was accepted I instructed the solicitor to start. They didn't ask me to pay for the searches until they were ready to do them (after the mortgage offer had been given) - a sign of a good solicitor me thinks.

You can instruct them at any time, they can start gathering stuff together such as the inventory from the vendor while you wait for the mortgage offer before they conduct the searches.

shonzyd

if you received the offer text this morning i wouldnt bank on receiving the offer in the post by the weekend. More like 2 weeks with nationwide.

azure99

Thanks for the comments. We have already talked to the solicitor and just need to let them know when to start the searches.

As suggested I think I will just wait until the offer comes through the post and kick off the searches then. Just hope that it does not take too long for the Nationwide post system to get it to me!