Nationwide - mortgage offer text

seanwinf
seanwinf Posts: 73 Forumite
in Mortgages & endowments
Afternoon. The house was valued yesterday and received the text saying say the report was there. Had a text from nationwide today saying "Hi, Nationwide here. We're pleased to let you know we've issued a mortgage offer. Please make sure you read the offer carefully." Does that mean the money we wanted and value of the house are correct or can the offer be for less etx?

Comments

  • kingstreet
    kingstreet Posts: 39,203 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    They don't issue an offer if the amount differs from what was applied for. You would be contacted to discuss first.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Lemonsqueezer78
    Lemonsqueezer78 Posts: 307 Forumite
    so congratulations - your mortgage was approved!
  • seanwinf
    seanwinf Posts: 73 Forumite
    Thank you wish we could celebrate but so many problems to overcome haha.
  • Maximum_Saving
    Maximum_Saving Posts: 183 Forumite
    Congratulations. It looks like you have a mortgage. You are likely to receive paperwork about your mortgage approval. I also have a mortgage with Nationwide.
  • Rachel_Pierson
    Rachel_Pierson Posts: 75 Forumite
    seanwinf wrote: »
    Afternoon. The house was valued yesterday and received the text saying say the report was there. Had a text from nationwide today saying "Hi, Nationwide here. We're pleased to let you know we've issued a mortgage offer. Please make sure you read the offer carefully." Does that mean the money we wanted and value of the house are correct or can the offer be for less etx?

    Yes, you've been approved. Only thing to watch out for is to make sure the valuation was what you'd expected. If it comes in less than you thought, it could push you into a different Loan-To-Value bracket and therefore rate. Hence their advice to "read the offer carefully"!
  • amnblog
    amnblog Posts: 12,695 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Rachel_Pierson wrote: »
    Yes, you've been approved. Only thing to watch out for is to make sure the valuation was what you'd expected. If it comes in less than you thought, it could push you into a different Loan-To-Value bracket and therefore rate. Hence their advice to "read the offer carefully"!


    More incorrect 'information'.


    Nationwide would not swop a rate without your request to do so.


    Is this a wind up?
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Rachel_Pierson
    Rachel_Pierson Posts: 75 Forumite
    edited 1 December 2016 at 10:38AM
    amnblog wrote: »
    More incorrect 'information'.


    Nationwide would not swop a rate without your request to do so.


    Is this a wind up?

    No, you're right. Banks always obey the rules. By the way, it's spelled "swap".
  • Neutrinno
    Neutrinno Posts: 310 Forumite
    Seventh Anniversary 100 Posts Name Dropper Photogenic
    edited 1 December 2016 at 3:55PM
    Rachel_Pierson wrote: »
    Yes, you've been approved. Only thing to watch out for is to make sure the valuation was what you'd expected. If it comes in less than you thought, it could push you into a different Loan-To-Value bracket and therefore rate. Hence their advice to "read the offer carefully"!

    Christ, it's clear now you are just a troll... or a very misinformed person determined to give out wrong advice.:shhh:

    OP, please ignore this post, if the valuation was not as expected and pushed you in to a new LTV bracket then they would not just issue a mortgage offer with a completely different product and repayments compared to what you applied for.
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • muhandis
    muhandis Posts: 994 Forumite
    Eighth Anniversary 500 Posts Name Dropper Combo Breaker
    edited 1 December 2016 at 4:58PM
    That's incorrect. If the house was down-valued which meant a change in LTV band and rate, NW wouldn't issue an offer at this stage.
    Rachel_Pierson wrote: »
    Yes, you've been approved. Only thing to watch out for is to make sure the valuation was what you'd expected. If it comes in less than you thought, it could push you into a different Loan-To-Value bracket and therefore rate. Hence their advice to "read the offer carefully"!
  • Dishant
    Dishant Posts: 1 Newbie
    hi I have applied for the mortgage to Nationwide on 25.02 and survey has been done on 01.03. How long it takes to get the outcome of this ?
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