Help to buy equity loan Mortgage

kingstreet

We're newbuild specialists doing around thirty cases a month. In case you didn't see this, this is our last six Nationwide cases;-

19/10/15 application - 30/10/15 offer issued (11 days)
13/10/15 application - 29/10/15 valuation done, offer awaited
08/10/15 application - 12/10/15 offer issued (4 days)
07/10/15 application - 17/10/15 offer issued (10 days)
29/09/15 application - 14/10/15 offer issued (15 days)
29/09/15 application - 06/10/15 offer issued (7 days).

The sixteen day wait to get the valuation done on the second case is skewing things, but on the whole Nationwide broker service is holding up for us.

http://forums.moneysavingexpert.com/showpost.php?p=69435780&postcount=97

Jon_B_2

Is the new build already built? If not, why the rush? Nationwide are generally very good and have some of the most of the competitive rates out there. Certainly worth having a bit of patience.

Unless your broker is steering you off course because he/she doesn't believe you will qualify for a mortgage from NW.

Humphrey2012

Thanks for your messages. Those time scales are interesting to see.

It was Monday of last week when the Broker sent us information on Nationwide mortgages and we decided on the 5 year fix but they then came back and said it was a long wait. Something like 7 working days for our application to be looked at, another 7 working days to request paperwork and another 7 working days for the survey etc...

I honestly don't think he thought we wouldn't qualify for it as he wouldn't have suggested it, but you never know. Affordability wise we seem to be fine, as we're not having to take into account a little second job I have, or my husband's bonuses etc.

The house is built and is due to be ready Dec/Jan. More likely to be January. Builder wants us to exchange in 28 days which is why Broker said we'd better not risk the wait with Nationwide.

I've been really happy with the service from the Broker so far. I guess I've just been a bit impatient this weekend at the issue with Halifax being over exposed only came up on Friday and now we've had the weekend to think about it!

jaxkesa

I applied for HtB EL with Nationwide 10 days ago and valuation has already been done and broker says there are no delays.

They have some of the lowest rates for this scheme at the moment so I wouldn't want to change lender just to save a couple of days anyway.

Jon_B_2

I don't think your broker is being particularly helpful.

I had an offer on a HTB mortgage from Nationwide back in June in 4 working days after application.

Humphrey2012

I don't think he's being unhelpful, he's been very efficient so far.

When he enquired with Nationwide there were delays, this was just last week, on Tuesday so maybe there is now a delay.

I will ask tomorrow whether it would be a good idea to check Nationwide again and there's also still a chance Halifax will decide they are not overexposed. We'll wait and see.

That was very quick Jon B - so application, valuation, offer, all in 4 days? That would be nice if we could get that!

Jon_B_2

Yeah application went in on a Thursday, had a valuation on Monday and offer on Tuesday.