Nationwide process Ftb

Ftbstressed · 11 May 2015 at 3:27PM

Hi, first time poster looking for some help.

I am a first time buyer and have submitted a full application to Nationwide 2 weeks ago. Our broker has advised that the application is with the underwriters at the moment and hopefully we should get some news soon. Valuation has been done last week and an additional payslip was requested.

Does anyone know how long the process normally takes? It's a new build we have reserved and they are pushing us for quick entry.

Thanks

Car1980 · 11 May 2015 at 4:27PM

What paperwork have you sent over?

Ftbstressed · 11 May 2015 at 4:44PM

We have sent our last 3 months payslips, last months bank statement and proof of deposit letter.

Car1980 · 11 May 2015 at 4:51PM

They asked us for 3 months worth of bank statements and ID for both applicants.

What ID did they request?

Ftbstressed · 11 May 2015 at 4:54PM

They have our driving licences as proof of id. That's all the paperwork they've requested so far, our broker has 3 months of bank statements if they request them. Hopefully hear back soon.

Joanne22 · 11 May 2015 at 4:55PM

We have been waiting over 6 weeks so far for a mortgage offer.

They have quite a large backlog at the moment so it may take longer to hear back than usual.

Ftbstressed · 11 May 2015 at 5:01PM

Oh right, I was a bit naive thinking because the valuation had been done and was with the underwritters that we would hear back soon.

Fingers crossed it's not too long a wait for everyone.

kingstreet · 11 May 2015 at 5:11PM

If the valuation is back, it is usually offered about two days later.

We are newbuild specialists and our latest case, the valuation was confirmed accepted today and we expect it to be offered no later than Wednesday.

All docs uploaded at application and accepted the following day.

Ftbstressed · 11 May 2015 at 5:38PM

That's great, hoping we will hear this week.

Thank you

Jon_B_2 · 11 May 2015 at 6:14PM

We have to exchange on new build by 29th May, our broker is visiting us on Wednesday to go through full application and take all our documents etc. Reckon we will be OK with just over a fortnight?? We are going with Nationwide as well.

AMO77 · 11 May 2015 at 6:25PM

Nationwide ftb here too. My valuation was fine and then they asked for a utility with Flat 504 rather than just 504. Also the corresponding "tax overview" for 2013/14 to go with my sa302s as I am salaried and self employed. They received those today. Broker says it's all being assessed. My question is, has nothing of mine been assess yet? Ie are they likely to have looked at the documents they already have (bank statements, sa302s, credit report, passport etc) and happy, and just need these final few bits of paper?