Nationwide Credit Scoring

Sam_16

Hi I am a very nervous FTB who has been lurking on the boards for a while while I have been prepring to submit my application. Had a DIP from Nationwide 18/4/16 and full application submitted yesterday 19/4/16. Nationwide have so far requested no further documents. I sent everything needed over to my broker. He says its a straight forward case however I am so nervous. I am buying through Shared ownership. House value £143500, 50% share, deposit £11000 (15% of my share).

Does anyone have any experience of Nationwide turn around times? Or if me passing the DIP stage means i have passed their credit score? Will Nationwide inform me when valuation is instructed or if it has been passed to underwriters? They sent me a text when my application was submitted even though this was done via a broker Or do i just wait for mortgage offer?

Thanks in advance!

ACG

You should hear something tomorrow all being well.
They are unlikely to need anything you have not already supplied to your broker.
You hve passed their credit check.

Natiownide have multiple underwriters per case, one for bank statements, one for payslips etc, so they can be a bit of a ball ache but by CoB tomorrow you should hear something, maybe Friday if they are a little behind.

Sam_16

Thank you very much. My broker keeps telling me not to panic and I trust him so dont want to inundate him with requesting updates. Will Nationwide text me themselves do you think? Everything has just went so smoothly so far I am expecting something to go wrong somewhere.

Thanks again!

ACG

Not wanting to scare you but I have a bit of a love hate thing with Nationwide, their applications either go so smooth you think its too good to be true or they are a nightmare.

I think they do keep you updated via text yet, although I do not use them enough to be 100%.

Ktaylor86

I did my SO mortgage with Nationwide in August 2013 through a broker. And I got text/email updates direct from Nationwide at key times like Valuation booked and offer issued.

These updates often occurred almost simultaneously with broker informing me of the same information.

Ours went very smoothly and hopefully yours will too! Sounds like should be no issue if broker has said its straightforward.

I personally really like Nationwide and have found them very helpful seem to value existing customers, today we are meeting to staircase to 100% ownership still with Nationwide.

Best of Luck

Sam_16

ACG think this is why im so scared as my broker did tell me at the beginning he tended to avoid Nationwide as they can be picky. Plan was to go with Woolwich thou at time of application Nationwide came out cheaper with free valuation and a cashback offer also so he went with them. Fingers crossed it stays smooth!

Ktaylor well done on getting to full ownership!! Hopefully mine works out as wll as yours did.

ACG

Woolwich or Nationwide - now theres a choice. Thats almost like being asked if you want to be shot or stabbed. Im only messing (I think) they are not that bad but in my opinion neither are particularly easy lenders.

If you are employed, do not need use of bonuses, OT, tax credits etc to pass income then both should be easy enough. Its sunny, go and find a beer garden relax, you will not hear anything today so stressing is pointless. If you pass the credit check and have told the truth you should be fine. I think all of my cases with nationwide have gone to full offer over the years.

Sam_16

Beer garden sounds good about now lol thanks your right no point stressing I'll hear soon enough

Jasperella

I have recently applied with Nationwide too as a FTB.
We submitted via broker on 31/3, valuation was booked for 12/4 so a bit of a wait there, and on the same day as valuation we were offered the mortgage.
We had a text/email when they received application, booked valuation (both same day) and then heard nothing more until valuation day on the 12th to tell us mortgage offer sent! So just under 2 weeks for us.
The only docs they wanted were our March payslips.
Good luck!

f2f

ACG wrote: »

...neither are particularly easy lenders.

If you are employed, do not need use of bonuses, OT, tax credits etc to pass income then both should be easy enough.

Was planning to apply to nationwide direct and not bother with a broker, overtime and shift allowance is about 40% of our income, are they likely to cause a fuss? Request tons of payslips once it gets to full application? We got a DIP from them earlier this year and they just wanted to see 3 months worth...?