Nationwide timescales!

kayb3ll

Sweepy13 wrote: »

Was it with Nationwide? We went there on Saturday for our application and they said the same to us. Apparently head office have made the decision to shut down the whole system until Tuesday so nothing can be done before then. We're expecting our valuation request to be sent off before the end of this week but they did say it's causing a slight back log with everything.

Yes, we are applying to Nationwide.

I thought we would be a bit lucky since it was so early in the year, more fool me I suppose...!

missyp123

Tea-belly wrote: »

Guys, just wanted to say thank you for keeping me sane over the past few weeks. I am a FTB using the HTB scheme and just wanted to show you our timescales! Nationwide have been brilliant throughout. I have not had to physically pick up the phone to speak to anyone at NW as we used an IFA but the whole process has been great and I recommend Nationwide!

20th September - First viewed house
28th September - First contact with IFA / Broker
1st October - Decision in Principle offer accepted
3rd October - Secured house with £500 deposit
8th October - Help to Buy application sent
13th October - Help To Buy accepted (Authority to Proceed)
17th October - Mortgage Application sent
17th October - Mortgage Application received
19th October - Requested valuer
27th October - Valuation took place
28th October - Valuation report received
4th November - Official Mortgage Offer! (via text message)
7th November - Official Mortgage Offer (in the post)

Good luck to everyone else! x

Do you mind me asking what help to buy scheme you are using? shared ownership/equity loan or the mortgage guarantee?

im looking to apply with NW but didnt think they were in the scheme for the equity loan....hoping they are!

ktbainbridge

Hello all,


We are applying for a NW mortgage. We got our valuation done and it came out £20k undervalue. We negotiated with the seller and they reduced the price by £15k so we are now paying £5k over the valuation (out of our own pocket). We got back to Nationwide and told them this on Tuesday 19th first thing. We were hoping to have the formal offer by now but no news. We have asked our FA advisors PA to chase up (FA is on holiday) and they haven't said why the delay is, but advised to ring again on Thursday. I hope it's not bad news.....


Good luck to everyone else!

derelyth

FTB, £170k @ 85% LTV going via a very attentive and communicative Broker.

26/01 - DIP Approved
26/01 - Full App
27/01 - Val Instructed
29/01 - Val carried out, being reviewed
30/01 - ID checks in person at Sols, Disbursements paid on hold

NW requesting various documentation between 30/01 and 05/02

05/02 - Proceed with searches as Val OK, sent in further documentation

Broker hopes we should hear this week, unless they come back about some of the documentation (DWP statement was dated Feb 15, awaiting whether OK but also to receive later dated one from DWP).

The suspense is doing me in! We currently rent and our Fixed Term is up on 15/02 at which point we can give 2 months notice, though at this rate I guess we're renting until 15/05!

Mortgage2015

FTB booked DIP with nationwide for 3 weeks time (that was when they were next available). What can we do in the meantime? Can we view houses? Make an offer?

Mortgage2015

Mortgage2015 wrote: »

FTB booked DIP with nationwide for 3 weeks time (that was when they were next available). What can we do in the meantime? Can we view houses? Make an offer?

Does anyone have an idea?

kingstreet

Mortgage2015 wrote: »

FTB booked DIP with nationwide for 3 weeks time

What do you mean by this? You've booked to see someone at Nationwide and can't get anything in less than three weeks?

You can view, but without an agreement in principle and affordability advice, you may be wasting your time.

Why don't you use a broker instead? You'd know if you were getting the best deal and if Nationwide was best, you'd get it a damn sight faster.

I submitted a full application on Wednesday and it was offered today.

Mortgage2015

kingstreet wrote: »

What do you mean by this? You've booked to see someone at Nationwide and can't get anything in less than three weeks?

You can view, but without an agreement in principle and affordability advice, you may be wasting your time.

Why don't you use a broker instead? You'd know if you were getting the best deal and if Nationwide was best, you'd get it a damn sight faster.

I submitted a full application on Wednesday and it was offered today.

Yes, that is what I meant.

I'm going with Nationwide as I'm getting a save to buy mortgage so will be getting £1000 cashback. At the time of opening the save to buy account they told me I had to apply direct, I don't know if that's changed.