Nationwide timescales!

Jess716

Offer received at 4.40pm and help to buy authority to proceed at 5.15pm :j about bloody time!!

xxlauxx

Fab news Jess! I bet you are so so so relieved!
Fairy hope u have valuation soon!
We got our offer letter via email today aswell, just waiting for hard copy in the post!
Even went to the house to measure up today also. All very real now!

fairyloveheart

Great news!
We got a lot of htb paperwork from the solicitors today!
Hopefully the valuation will be soon! X

Wales1783

how long between DIP/full application did you wait for approval?

My DIP was referred due to a notice of correction on my file which is 8 years old. Broker spoke with BDM and said didn't see any issues, was passed to the underwriter who was approved everything straightaway. Received text message from Nationwide to say that they have received our application, just wondering how long it will all take!

Jess716

Wales - our timescale was

18th September - DIP
23rd september - full application
25th September - valuation
23rd October - mortgage offer

Wales1783

Thank you. That seem's like quite sometime between valuation and offer, was there a problem with the valuation?

My broker advised me that Nationwide have stated I should have a decision within 5 days. My AIP was referred to the underwriters initially, and I have a 'subjective accept'. After reviewing NW's website is states the following:

If the outcome of the referral is a ‘subjective accept’ then you can proceed to full mortgage application. Providing there are no further changes required, the only outstanding case requirement will be the valuation report.

I don't know whether to interpret that as long as all my identity/pay slips etc all match up with my application, and the valuation is ok then i 'should' receive an offer. My broker can't see any issues with it, but I am just paranoid and worry about everything! It's our dream home and I will be gutted if we lose out!

Congrats on your offer BTW!

fairyloveheart

You've got the subject accept quickly!

Ours was

13/9 dip refer
16/9 all documentation submitted for full app
21/10 subject approve
22/10 text received saying they've received app - still waiting for money to debit for survey!

Wales1783

Maybe I have that wrong, broker said underwriter had reviewed everything and was happy so the full application was submitted. Is the subject approve only given after full application?

I thought it meant subject approval of AIP as the underwriter and reviewed, it was then just a case of checking all the docs etc match up?

This is so stressful and now it's the weekend that's another 3 nights fretting!

xxlauxx

Our timeline was as follows...
18/9 applied online - dip was Refered. As we applied online, it said that we could proceed to full application, although if we were declined we would still pay the fees... We were happy with the risk as we didn't want our seller to wait.
Sent all docs through, took ages for them to notice they were all sitting there.
8/10 said they had finally got everything they needed and sent to "head office for approval"
13/10 - received a text saying DIP had been approved.
13/10 - another text saying valuation had been booked for the 19th
19/10 - home buyers report/valuation is done
21/10 - text to say valuation has been received
21/10 - text to say offer had been issued

The paperwork bit had to be the longest, but I blame the branch for that as they scanned every single document as one thing, so the admin team only saw one document in our file and presumed we hadn't sent anything. After going through all 10 documents with someone on the phone they finally realised they had all been sitting there for a week.
Seemed to be pretty smooth after that though I must admit.

Jess716

Wales - not valuation was fine and confirmed 3 days later. It's the underwriters that we had issues with. They calculated our affordability wrong and declined us, broker questioned it and then they accepted it. Every time anything was questioned it's another 5 days in a queue for the underwriters