Nationwide mortgage application FTB

Bijoux

Hi,

Really really confused at the moment, submitted our application via L&C to Nationwide. They carried out a credit check at the time when they did the decision in principal. We have provided all documents, which have been satisfied. I have now been advised its been reffered to head office to be underwritten is this a bad thing ? The advisor at L&C at the time of application said its fine at the time of application. Really worried as we have put a deposit down already with the seller.

Would really appreciate others' opinion.

:(

Maximum_Saving

I have a mortgage with Nationwide and began it in 2010. It took what I considered a long time for my mortgage to be approved. They put my application to change the number of years with the under writer. This took time to them to make a decision. I wish you good luck.

kingstreet

It sounds like the DIP result was "refer" which means once all the documents have been uploaded, the case is passed to HQ for a decision.

Do you have a lot of unsecured credit, or a history of adverse credit or similar?

Bijoux

Thanks , no just a student loan. My salary went up by a grand. They said everything was fine , and that they should have an offer on Friday, but on Friday they told us about the referral to head office .

amnblog

Hard to say why the case has been referred without knowing the details, but this is not a 'No' it is a 'no decision yet'.

Your case needs to be considered manually and this will cause a delay of a few day - but it would not be referred if it just did not fit.

sean9461

do nationwide not manually underwrite all applications? do some mortgage providers just use automated computer checks to pass applications?

I thought every lender had someone manually look over every application?

amnblog

No, many mainstream lenders can do all the 'decision making' by computer on a large number of cases with staff just checking that the supplied supporting information is correct.

sean9461

ah right, im looking into options now, do you know if nationwide do a full credit check or soft credit check at dip stage? as it isnt very clear on their website

alchemist.1

sean9461 wrote: »

ah right, im looking into options now, do you know if nationwide do a full credit check or soft credit check at dip stage? as it isnt very clear on their website

They do a full one.

sean9461

cant risk doing one then, by some miracle santander gave me an AIP cant risk having another search on my file whilst they are in process of starting an application =/

Thrugelmir

amnblog wrote: »

No, many mainstream lenders can do all the 'decision making' by computer on a large number of cases with staff just checking that the supplied supporting information is correct.

Still be a final sign off by people with the required authority. Staff checking isn't error free. As it's like writing a cheque for thousands of pounds.