Nationwide Mortgage Appeal

mousical

Hi all,

I've been through weeks or nervousness as a FTB and I still can't see an end in site. Did an AIP with London and Country and after applying through them with Nationwide I am now super worried I am going to be declined.

All as going fine until my broker contacted me to ask for a copy of my credit report - as NW has said 'something was showing up' - I have no defaults so was confused by this. Presented a copy to my broker who agreed and thought it was address issue as my current rented flat address is a little complicated often written in different formats. My broker appealed and I sat and waited, after no news for a week and me constantly chasing my broker it turns out the report was with the wrong people (grrrr)

Had the valuation and that was all fine
NW then confirmed that the issue was due to them wanting to see evidence of funds to pay off my credit cards which I had declared and pledged to pay off with gifted money from my parents. Have provided this information but still waiting for review.

Every time I phone Nationwide directly they tell me something different about the process - some saying I could have an offer in a few days - then today the lady told me I had failed credit scoring - would that be referring to the above or something different?

All the addionAl documents are with them but still have another working day to wait become they are reviewed.

What is the process after that? I keep being told 'final checks' hat does that mean?

I'm well within afoorxability - so am hoping this proof of funds to pay of ccs is just the final piece of the puzzle.

My estate agent is breathing down my neck as we are on week 5 now.

Anyone with a similar experience? Any advice welcomed.

My situ:

Looking to borrow: 216,000
Salary: 60k
Credit cards: 19k - but have funds to pay off 12k
Deposit: 24k (10%)

minimike2

Why are you calling Nationwide? The whole point of using a broker is for THEM to deal with the leg work. What have they said about it?

mousical

I've been calling Nationwide because I wanted to get an update directly - good thing I did as my broker hadn't uploaded a document they said that had which caused further delay. I realise broker should be doing leg work but my flat is hanging in the balance while I wait for this mortgage (vendor getting itchy) so I'm not going to just sit back - at least if I'm callling I feel like I'm doing something.

Broker said evidence I have now submitted should be enough (proof of funds to pay off a big chunk of Credit cards) but I've just lost confidence in them.

wjr4

Unfortunately this is what happens when you use a fee-free broker! You 'pay' for what you get.. always worth paying a fee for an independent mortgage broker to do the work (preferably one that has been recommended to you).

muhandis

From what I've seen on these threads, L&C are decent at processing straightforward vanilla cases but as soon as any additional work is required, they are quite lax in doing the necessary.

The broker can chase it quicker than you can by going through the BDM (we had multiple issues with our NW mortgage app which our broker had to sort out), but he has to want to do it or think it a good use of his time.

jonnyh15

Whats stopping you just paying off the credit cards now? Assuming you clear most of the debt then there will be less for the mortgage underwriters to be worried about

artemisryan

Having similar issues now. I find it easier contacting them directly rather than waiting for the broker (also l&c) to do it and call me back. For some reason, when i call in the morning they seem to tell me my documents haven't been attached or reviewed but when I call back later that day, they tell me it was received the day before :S

kingstreet

It takes time for things to be added to the case and then signed-off.