Roughly how long does it take to get a mortgage decision.

wishing4kissing

I have applied for a remortgage and transfer of equity and Ideally wanted a decision before xmas. How long do these things usually take.
Its with Nationwide

Thrugelmir

If you applied today. There's many working days left!

wishing4kissing

Thrugelmir wrote: »

If you applied today. There's many working days left!

I applied last week.

BelleBot

I applied last Thursday with nationwide and got my mortgage offer on Tuesday, which seems pretty quick. Though I guess it depends on each application.

Thrugelmir

wishing4kissing wrote: »

I applied last week.

Has the valuation been done?

Does the Nationwide have all the information it requires?

Goldiegirl

wishing4kissing wrote: »

I have applied for a remortgage and transfer of equity and Ideally wanted a decision before xmas. How long do these things usually take.
Its with Nationwide

Why do you need a decision before Christmas?

If you do get an offer issued and sent to you and your solicitor, nothing else will happen, as the solicitors will most likely be closed until the new year.

kingstreet

What is your description of a "decision?"

There's the decision in principle, done as a stand-alone, or when the application is first submitted.

This is an accept, refer or decline.

If a refer, all the documentation must be submitted, before the underwriter changes the case status to "subjective accept."

There's the point all the documentation is in and the mortgage is subject only to the return of the valuation report.

There's the point the offer is issued.

wishing4kissing

It is a transfer of equity with additional borrowing. I dont need the decision before christmas for any urgent reason, I would just like to know and have it cleared up by then so I can relax and enjoy my xmas without worrying over it.
I worry over everything and one less thing would be nice.
Ive called them but keep getting passed from pillar to post.

Thrugelmir

wishing4kissing wrote: »

Ive called them but keep getting passed from pillar to post.

Most likely as your application is being processed through the system. Which will involve different stages.

wishing4kissing

Thrugelmir wrote: »

Most likely as your application is being processed through the system. Which will involve different stages.

Everywhere I ring says they cant find my application, it isnt on the 'old' or the 'new' system. Spoke to the lady at the branch who submitted it who said it is, but now that she isnt a mortgage advisor she cant access it.
Very frustrating!

Thrugelmir

wishing4kissing wrote: »

Everywhere I ring says they cant find my application, it isnt on the 'old' or the 'new' system. Spoke to the lady at the branch who submitted it who said it is, but now that she isnt a mortgage advisor she cant access it.
Very frustrating!

Won't speed the process up. Suspect that NW head office won't be running at full speed either in the run up to Xmas.