Some advice... Nationwide Mortgage

GuyLondon84

Hi,
Any advice would be appreciated...

We have an exisiting mortgage with Nationwide and are looking to move house but stay with them. We've had an offer accepted on the new house, and have sold... any ideas on how long it will take to sort the mortgage? i'm hoping quite quicky as we're an exisiting customer!

We're about to start the process this afternoon.

Thanks

Dave_Ham

It is a piece of string question I am afraid...

Is there a reason why speed is so important given that you are only submitting the application this afternoon?

Recent history tells us that if your credit score, income/employment and commitments are all straightforward and the case is comfortable then Nationwide will be fairly quick. For example an offer within 2-3 weeks of today.

If your case is unusual, stretching, unusual property purchasing or anything not straightforward then Nationwide may cause you grief. Once you fall outside of normal operational process, this is when you see the big delays and dis-satisfied clients.

It also appears from the threads on here, they can sometimes be hard work to deal with directly by branch/phone. sure on this we are just seeing the ones with something to shout about, but there is an increasing trend.

Good luck

GuyLondon84

Thank you very much...
No rush, only that the people we have brought from are already moved out, and we have cash buyers who are very keen!

All seems straight forward and we both have "excellent" credit reports and our LVR is 85%.

2/3 weeks sounds brilliant.... fingers crossed and thank you for your kind reply.

kingstreet

In practice, most cases end up with the mortgage offer being produced, then weeks go by while the solicitor does the legal work. You don't often find the mortgage offer is the delay in a purchase. Not unless there's been a "fall-through" at some point.