Nationwide

Maygreen

Hi all.
Just wondering what your views are with Nationwide my broker has offered some options with them, but I wanted to know are they normally difficult to secure mortgages with ? Need lots of paperwork ? We are intending to pay off debt on completion are they ok with this any advice would be appreciated.

Thrugelmir

Nationwide are the currently the largest new business lender in the market. Speaks for itself.

oli_ro

I have used NW and paying off credit card(which was tiny and incidental) was required at exchange. Solicitor requested proof that it was paid before allowing exchange.

Google "nationwide for intermediaries" to see their current SLA for broker submitted mortgages, which is just an indication as it depends on your circumstances.

Every case is different, I think, so hard for someone to guarantee turn around times for your case.

Talk to your broker again and voice your concern. I think they have good rates these days(maybe due to reason mentioned by Thrug).

kingstreet

I have never known Nationwide insist credit is repaid before exchange of contracts. Completion, yes. Exchange of contracts, no.

Otherwise, no better and no worse than other lenders and often have top-end products.

oli_ro

kingstreet wrote: »

I have never known Nationwide insist credit is repaid before exchange of contracts. Completion, yes. Exchange of contracts, no.

Otherwise, no better and no worse than other lenders and often have top-end products.

I stand corrected, the mortgage offer indeed specifies: "This offer is issued on the understanding that the following commitments will be repaid
on or before completion of this loan:-"

My solicitor has asked me to do it before exchange, maybe pedantic.

kingstreet

If exchange of contracts and completion are close together, they may be ensuring things are in hand early.

As a newbuild specialist, our cases can exchange today and not complete for six months or more...

Thrugelmir

oli_ro wrote: »

I stand corrected, the mortgage offer indeed specifies: "This offer is issued on the understanding that the following commitments will be repaid
on or before completion of this loan:-"

My solicitor has asked me to do it before exchange, maybe pedantic.

Ask yourself who is at risk?

Perhaps doing their job properly.

nic_c

What would they require as proof or is that varying depending on your solicitor

oli_ro

They wanted proof that its paid and I went to my online banking solution and generated an up to date statement in pdf format that shown 0 balance and my recent payments, which they have accepted.

But, I guess, if pay the debt, I am sure you will find loads of ways to prove it that will be acceptable.