Nationwide app pulled for audit

Sheep · 16 July 2015 at 8:34PM

What does it mean when an application is pulled by 'head office' for audit. All underwriting was done. Just waiting for valuation which will not be instructed until head office hand the case back.

Does anyone know what timescale it takes?

Senior_Paper_Monitor · 16 July 2015 at 8:45PM

Based on last two (of ours) that have had this treatment 1 - 2 weeks.

Is there a specific issue ? Is this direct or via broker ?

Sheep · 16 July 2015 at 9:08PM

Its direct. I dont think there was an issue. It seemed to be going really quick until now

Senior_Paper_Monitor · 16 July 2015 at 10:37PM

Based on (our broker) experience ...

1) Nationwide seem refer more than the average number of cases (so potentially nothing to worry about)

2) the process is not very 'joined up'

3) identifying any issue and providing information to address it ahead of review is important (this may not be so easy for you)

4) should they require any further information that requires a response they are not very good at getting that information back into the tracking system (and to the applicant/broker) - therefore phone once it has been in refer for 4 working days and every 2 working days therefafter.