Nationwide - waiting on mortgage offer. HELP!

chickenface

Hi all

Just looking for a little advice if possible?

My husband and I are going through the help to buy scheme which has been approved and we have reserved a house with the builder.

We received our DIP a couple of weeks ago and our mortgage broker received all our info needed on Friday saying that we should hear in about 4-5 days time (due to the bank holiday I am guessing that this will prob be Friday)

I am currently peeing my pants at the thought of not getting this mortgage and the whole thing falling through as it obviously all hinges on their decision :eek:

Questions are:
Likelihood of receiving offer from Nationwide after getting DIP from them?
Does Nationwide DIP mean more than from some other lenders as they credit check before they give this?


This is so stressful! Any help would be much appreciated

ACG

Is there any reason why it may fall through? Or are you just worrying for the sake of it?

Even if Nationwide do decline it, there will be other lenders who will look at it.

A DIP is a credit check and an accept based on the info you giving being correct and being able to prove it. If the info is correct and you can give bank statements/payslips to back it up you should be fine.

chickenface

No I don't think there is any particular reason that it may fall through so probably am just worrying for the sake of it.

As we're first time buyers it's been rather daunting and I think we're just trying to control ourselves before we get carried away and would be heartbroken if it fell to bits.

My concern is that in Scotland there is only Nationwide and Halifax that do the H2B and that if Nationwide don't accept we would need to pay £1000 to Halifax for arrangement fees and valuation survey and the completion date is meant to be at the end of June!

All the info we have given is correct and can be backed up by the docs & payslips etc that we've sent.

You've made me feel a little better - thank you!

BlueberryB

chickenface wrote: »

No I don't think there is any particular reason that it may fall through so probably am just worrying for the sake of it.

As we're first time buyers it's been rather daunting and I think we're just trying to control ourselves before we get carried away and would be heartbroken if it fell to bits.

My concern is that in Scotland there is only Nationwide and Halifax that do the H2B and that if Nationwide don't accept we would need to pay £1000 to Halifax for arrangement fees and valuation survey and the completion date is meant to be at the end of June!

All the info we have given is correct and can be backed up by the docs & payslips etc that we've sent.

You've made me feel a little better - thank you!

Hi
We too are waiting to hear for a decision from Nationwide! Are going through HtoB and in Scotland too lol. We got our DIP in feb and noticed on Experian we were searched twice! That was fine then we waited til the DIP was almost expiring as our build is not due for completion till October. We keyed full application on the 10th May and valuation was booked and carried out on the 13th. I have not heard anything more since except for our broker calling last Thursday to see if we could get this years SA302, but I did look at our credit reports again and noticed they have another 2 searches on 19th&20th too.

I too am absolutely terrified! As the build is not going to be done until autumn we had to conclude the missives in May! So now that is us tied completely in and if we can't get a mortgage we are pretty much screwed, I mean there is no reason why they would decline but it's still a very worrying time, hopefully it will all be over for us both soon

chickenface

Hello

It's horrible waiting isn't it?! What house builder are you going through?

We haven't concluded missives yet as we were told by the solicitor not t do anything until we get the full mortgage offer but we got a really good deal on the basis that the completion date would be at the end of June (the builders end of financial year funnily enough)

We've had the valuation and got text to say all was fine. As far as I understand it Nationwide tend to be a little stricter than the others in that the DIP is credit checked before given and as the adviser above said as long as everything matches then it should be fine.

Hope all works out for you!

BlueberryB

chickenface wrote: »

Hello

It's horrible waiting isn't it?! What house builder are you going through?

We haven't concluded missives yet as we were told by the solicitor not t do anything until we get the full mortgage offer but we got a really good deal on the basis that the completion date would be at the end of June (the builders end of financial year funnily enough)

We've had the valuation and got text to say all was fine. As far as I understand it Nationwide tend to be a little stricter than the others in that the DIP is credit checked before given and as the adviser above said as long as everything matches then it should be fine.

Hope all works out for you!

We stay in the north east, it's just a small developer local to here. We have had no discount whatsoever we have added an internal door into the garage and are being charged £750 for it and I want water plumbed into garage too which is going to cost another £100!!

I think we really should have haggled a bit I wish we had, but I think from what I have heard they are a 'take it or leave it' kind of people and they have no shortage of getting the plots shifted well not now the HTB is on the go.

I hope you hear soon! Keep us updated

chickenface

£750 for a door?! Jings!

If it's the house that you want and can imagine living in for a long time then that's the main thing.

Yeah help to buy is great but it tends to put the builders in a stronger position and us less perks!

I will certainly let you know, let me know how you get on as well. Good Luck!!