Nationwide DIP - next stages?

skizz_b

Hi

We have applied through a broker for a mortgage with Nationwide for a new build property. Came back today we have a decision in principle (yay)!

I was just wondering what the next stages were from here? Our broker has asked me to provide my P60 (not my wife's, she is on a fixed term contract and they have seen her contract already apparently) along with payslips, bank statements etc. Is this for the purpose of verifying what the broker has stated on the application or for another decision to be made?

Also, from her when can we expect valuations etc to take place and what needs to happen before we receive our full offer. FTB's so forgive the ignorance!

Thanks for any advice.

Westyggx

I'm in the same boat but a little further on than you.

You will have the valuation by nationwide on the property, if all goes ok they should then send you the offer.

amnblog

A puzzling post - it is not down to your Broker to answer these questions based on clear knowledge of your case?

skizz_b

Not sure what is puzzling about it, I asked a generic question about the mortgage process for Nationwide on an internet forum at 10.20pm when I'm fairly sure my broker is closed....

skizz_b

Westyggx wrote: »

I'm in the same boat but a little further on than you.

You will have the valuation by nationwide on the property, if all goes ok they should then send you the offer.

Nice one, thanks. I've just seen conflicting information about a DIP doing checks on employment etc after you have a DIP, so wasn't sure. :beer:

Kirstyb1987

I have just completed on my house and had my mortgage from Nationwide....cannot fault them. Here is my time line to have a look at, I am also a FTB so it might be helpful.
1st May - DIP approved
20th May - Full application submitted and paid valuation and application fees
21st May - Text to say survey being done TODAY
21st May - Text to say Survey completed and satisfactory
2nd June (8 working days later) text to say they are delighted to inform me a full mortgage offer has been posted - However one thing and another we needed to change the amount by £1500 less and had to ask for a revision (our fault not theirs)
6th June - Text to say revised offer approved
8th June - full mortgage offer received by solicitor
18th July - Nationwide sent through all mortgage monies and we completed....yayyyyy!!!


Very nerve wracking and exciting time.


I have to admit I did do this through the internet and not through a broker. I was only asked for one pay slip and one bank statement and never actually spoke to anyone from nationwide during this time only to ask for a revision. I also didn't have the cleanest of credit histories to but it went so smoothly it was unbelievable.


I was that impressed that I closed my NatWest account and have transferred all my banking to nationwide. excellent service


good luck

skizz_b

Wow, great to hear you're all done! Our case seems straightforward enough but as well all know there are often bumps in the road.

Thanks for your feedback!

kingstreet

skizz_b wrote: »

Hi

We have applied through a broker for a mortgage with Nationwide for a new build property. Came back today we have a decision in principle (yay)!

I was just wondering what the next stages were from here? Our broker has asked me to provide my P60 (not my wife's, she is on a fixed term contract and they have seen her contract already apparently) along with payslips, bank statements etc. Is this for the purpose of verifying what the broker has stated on the application or for another decision to be made?

Also, from her when can we expect valuations etc to take place and what needs to happen before we receive our full offer. FTB's so forgive the ignorance!

Thanks for any advice.

Have you reserved yet or was this just a DIP to enable you to reserve?

Once you've reserved, a full application is submitted and fees paid.

Then the valuation is instructed. The inspection is booked. The report returned and checked.

In the interim, any required documents are uploaded to Nationwide.

Once all documents are accepted and the valuation is back and satisfactory, the offer is issued.

skizz_b

Thanks kingstreet. We have made the reservation already, valuation in your timescale will be next. I have submitted the required documents to the broker.

At which stage is the case fully underwritten? Normally after valuation or before?

kingstreet

During.

Valuation is instructed, then while the appointment is made, the uploaded docs are checked.

skizz_b

Great, that's me sorted. Hopefully it goes swimmingly from this point, will keep you all updated. Thanks again!