Mortgage application cancelled

Becles

I applied for a Nationwide remortgage in June and informed them in the initial application that I would be on holiday for the last two weeks of July.

I had a decision in principle and it wasn't for a high risk mortgage. 10 year fix over 10 years, borrowing 1.5 times my annual salary, 22% LTV and my credit record is squeaky clean with no missed payments or anything negative on it.

First they lost several documents that I'd been asked to send in. Over the next few weeks, every few days, they kept asking me to send another document in, such as paperwork from a previous tax year or bank statements etc.

While on holiday, I picked up another email asking for more tax documents to be sent in to prove my income. I replied and explained I was away on holiday so didn't have access to them. I said I would send the documents to them on the 30th when I returned. They replied and said this was fine.

I came back off holiday and scanned the documents and sent them off.

I rang today as I'd not heard anything and was told the application was cancelled by them on the 25th as I'd not sent in the required documents within a week. They confirmed that they do have the additional paperwork, but it was too late. That decision is final and the application cannot be reopened.

Is it worth complaining about it? Or is it best just to move on, wait a while and try another lender?

Thrugelmir

Did you make an application or apply for a DIP?

densol_2

OP - I would make a big complaint. If they assured you that you could send in the documents after you came back from holiday, then that is the agreement you had.

Becles

Thrugelmir wrote: »

Did you make an application or apply for a DIP?

I had the DIP approved and then filled in the full application in June.

amnblog

There are two potential issues here:

1. The Lender is not interested in having thousands of cases in their systems, which may or may not have been abandoned. So they clear them out if there is not clear signed of progress. The systems are not geared up to accommodate an individual case.

2. Fixed rates, when applied for new to progress as their is limited funds available for each rate. If the case does not progress, the door will shut.

Move on: Make sure you have everything to hand before you start next time, and supply everything exactly as requested, and in good time.

Becles

amnblog wrote: »

Move on: Make sure you have everything to hand before you start next time, and supply everything exactly as requested, and in good time.

I did everything they asked of me promptly.

When I filled in the application, they sent me a checklist of documents I needed to send in. These were all photocopied and posted together in the same envelope. They did get them, but then they lost some of them when scanning them onto their system.

Each time they emailed me asking for more info, I scanned the documents requested and emailed them the same day.

It was just the last email I couldn't respond to as I was on holiday.

wjr4

They have started making short deadlines now (not sure if this was the case before).. I had a week to send documents to Nationwide before my application was cancelled - so I sent them but because it didn't come from the broker they cancelled my app!

ACG

Nationwide are either superb or absolute rubbish. More often than not its the latter and what you have described is exactly how they work, nobody takes any sort of ownership of a case as there are about 3 underwriters per case.

You can complain but you could be waiting a month or so for an answer and I would be surprised if they backed down. Nationwide are that big of a lender they can not alter their process because you have gone on your holidays. Lenders money, lenders rules. so to speak. Its never really a great idea to arrange something so important at a time when you will not be around should they need to get hold of you.

I would either re-apply or find a new lenders as I doubt you will get anything more than a goodwill gesture payment. I submitted a case to nationwide based on something their rep said on a recorded call. The case was declined at underwriting stage because what I was told was incorrect, they had it recorded they could hear it being said but would not honour what I was told.

Becles

ACG wrote: »

Its never really a great idea to arrange something so important at a time when you will not be around should they need to get hold of you.

I followed their advice. I was told it usually takes 2-3 weeks but allow up to four weeks. I made the application 7 weeks before I departed on holiday. I was told it should all be sorted out before I went, but that didn't happen.

I don't think I do have an underwriter. I've had emails from various different names asking for more paperwork. When I do send it in to the processing email address, it takes them a few days before they even look at it and it gets logged on my application tracker.

ACG

Thats what happens with nationwide. One underwriter for bank statements, one for payslips...it might not even be one for each, it might just be one department for each. Its very poor.

If your case flies through the scoring system then you get asked for minimum documents and it then becomes quite easy but quite a lot of the time it just becomes painful.

Becles

I rang again to see if they would re-open the application but was just told it was unfortunate I was on holiday and couldn't send the proof of income to them in time.

I was told that as I hadn't sent in the documents, they reduced my salary to £0 and did the affordability calculation based on my income being made up of just child tax credit and child benefit for one child so obviously I failed and it's gone down as a decline.