What happens at end of three hour mortgage appoint with nationwide

maninthestreet

3 hours? Does the advisor wear a long leather jacket, round, metal-rimmed glasses and keep saying they have ways to make you talk??

amnblog

With a little house logo on the label of the leather

woodworm001

I had my mmr interview with Santander last week and was warned it could take 3 hours but in reality it was two phone calls, one lasting 50 minutes and one lasting 20 minutes.

I guess it depends on your circumstances.

edit - I'm still waiting on a decision so I don't know if it's good or not that my interview was shorter than some.

amnblog

Why two separate calls?

woodworm001

First one was to take all our details and discuss what changes may happen in the future and credit check, then the advisor went away for 30 minutes then came back to ask about a mortgage application itself where we discussed term, overpayments, etc.

Maybe he wanted a comfort break as I'm not sure why he couldn't do it all in one.

amnblog

So you were available for 100 mins in all.


50 mins call
30 mins wait
20 mins call


What is the next step?

Madbags

We only had the one call with Nationwide. Took 2 and a half hours in total with a 10 minute break in between.


We received a Yes on the DIP on that phonecall. Paid valuation and product fee, application submitted.


Valuation was booked 2 days after, came back fine 2 days after that. Had formal mortgage offer the day after that.


But let me just say. This was not a simple process. We have had to cancel 2 applications prior to this due to technical faults. All in all it's taken a month to get the offer and I should note that on a previous DIP it went to a refer and not a yes (god knows why). So this was why all our documentation was already held by Nationwide and was transferred from the previous cases.


We had to actually make a complaint to Nationwide to get anything done, upon which they offered us £75 as compensation, we gladly accepted that. But since the complaint was made things have been progressing at a decent rate.


Now it's all down to the survey and the solicitors.


My only advice from this experience is do not use the online application. Please just be patient and go through it all with a mortgage consultant on the phone, however long it takes to wait for that appointment. We'd probably be moving in by now if we did it that way in the beginning.

amnblog

It find it baffling that the Mortgage Market Review has led to Lenders reverting to 20th century trading models.

woodworm001

amnblog wrote: »

So you were available for 100 mins in all.


50 mins call
30 mins wait
20 mins call


What is the next step?

Yes, but that's not the same as 3 hour phone call.

Our application is currently with the underwriters so waiting on a decision.

Mortgage_Mark_2

stator wrote: »

Wow, after three hours I hope you get a happy ending

That costs far more.