Do nationwide re-credit check before completion

sockpuppet

They dont run credit checks 'willy nilly', they can do updates which dont leave a new footprint but simply 'refresh' the original check but that will hi-light any new credit changes.
Some lenders have a 'live' system which refreshes automatically whenever credit changes.
This can spark a review of the case (we have had this happen a few tines!)
Also, if the case takes a while, it will be refreshed to ensure all is up to date....

Newbieforumer

Evening, sorry to gate rash this thread, but do you know of any delays with issuing the offer from nationwide? I'm being told that because they have such good rates at the moment,process times are slightly longer?
Thanks

STG_2015

My experience they are quite quick, well I'm a FTB but I thought it would take much longer, maybe our broker is good!

I had 2 credit checks done by Nationwide the same day I had my DIP, they have been good and quick so far,
Viewed and reserved house- 07/02
DIP-10/02
HTB Authority to proceed- 25/02
Full Application-25/02
Valuation booked- 03/03

Just concerned what could go wrong now as we gave our months notice in on the rental today!

Its a new build, can't see there being issues with valuation or surveys as its a semi and next door are all moved in and its gone through fine

we are using HTB equity loan so 75% mortgage and borrowing 2 times our wage.

Just worried as you hear all these horror stories but presume credit check at DIP ok thats not going to change

Can't believe how stressful it is and I have no chain to worry about god knows how other people cope!

STG_2015

I had credit check done at DIP 10/02/15 and again when I made a full application 26/02/15

kingstreet

You're sure these are multiple hard searches and not a hard search and soft/ID/PoA search?

I've emailed our BDM for an explanation as this isn't what we were told should happen.

STG_2015

No idea how to tell the difference, all I know is there are 2 searches showing from Nationwide on the 2 different dates very odd

kingstreet

Just got this reply to my request;-

Hi Ian

No further footprint is left when cases are re-scored / edited within 30 days of the original decision.

If a change is made after that it would leave another footprint.

The original DIP is valid for 90 days.

Which doesn't really tell us why a new search should have been needed on a DIP only a week old!

STG_2015

Thanks for trying

Got my offer today, I have to put another £600 down but I don't care I'm happy! Not sure what happens next, if the offer comes to me and then I send to solicitor not sure hopefully we can exchange within a week fingers crossed

kingstreet

Originals posted out to you and solicitor today separately.

It goes out second class, so don't hold your breath!

Legal work from here onwards.

justcat

nuzik wrote: »

Yes thanks for your concern.

I just thought I'd add that going by this thread https://forums.moneysavingexpert.com/discussion/5143597

Nuzik is not a broker or adviser.

Obviously, the signature says that their status isn't checked so this clearly rings true here.