FTB Nationwide

Jkbc90

Hi

I posted before regarding this, wondering if we would get accepted with my partner being on a temp agency contract.

We decided to go through a broker, nationwide have accepted our application and the house is marked as sold subject to contract.

The survey and valuation is being done today.

We have submitted bank statements with proof of our deposit and donor form with a gifted amount from family.

The mortgage broker seems to have no doubts about this going through but I'm very aware that the house isn't ours until the keys are in our hands.

At this point what can go wrong? How many more steps until completion?

Sorry if this makes no sense, just looking for some reassurance or to at least be aware of obstacles that may present themselves. Thank you

Newtown

My experience:

Nationwide are very good :
(Currently their processing times are taking slightly longer than normal) (took them about 7 weeks to approve to send me mortgage offer)

Stay in constant contact with your broker:
Please Avoid making payments for searches etc etc (move things in a sequential way rather than parallel in case a surprise comes and you lose money )

keep saving money (It will take more than you expect it to cost) (Moving costs etc etc )

And tons of patience.

kingstreet

Offer agreed
Solicitors instructed
Sales memorandum issued by estate agent
Purchaser applies for mortgage
Vendor's solicitor prepares and issues draft contract to purchaser's solicitor
Vendor completes seller's enquiry forms and returns to their solicitor
Valuation/survey carried out
Purchaser pays their solicitor for searches
Searches requested by purchaser's solicitor
Renegotiation of price due to survey findings - if required
Mortgage offer issued
Purchaser's solicitor receives seller's enquiry forms and raises any enquiries with vendor's solicitor
Searches returned to purchaser's solicitor
Responses to enquiries from vendor's solicitor to purchaser's solicitor
Purchaser visits solicitor to go through paperwork, hand over ID and deposit
Completion date agreed between all parties
Contracts exchanged
Purchaser's solicitor sends purchase funds to vendor's solicitor
Completion takes place
Vendor's solicitor receives purchase funds and authorises key release.

Jkbc90

Thank you! Our broker has been fantastic he has kept us in the loop every step of the way so far. Lots of saving going on, I have been selling lots as well to not only make some money but to help clear out so (hopefully) when we move we will have a lot less to take with us. The waiting is a killer.

Jkbc90

Thanks that timeline is brilliant, we still have quite a few steps to take but hopefully all being well we can get past each one of them smoothly. The only thing is our broker hasn't instructed us to contact our solicitor yet, he said that isn't for a little while yet, will call him today just to confirm that. Thanks again

jordan88

Jkbc90, can I ask how long your partner has been employed with temp agency for, just i am in similar employment circumstances. Thank you

Jkbc90

Yes of course,

He's been in this position for 17 months now, it's a rolling contract so there's no end date it just goes on from month to month.

Nationwide ask for proof of 12 months employment but they 100% do accept temp agency workers as long as you meet all of the criteria etc. My partner has really good credit and no late payments or defaults so I think that helped massively as well. Best of luck!