Nationwide Mortgage Offer Taking Ages and Broker Not Responding - HELP!

desperatelyseekingcredit

Hello

After some help really. We've applied for a mortgage with Nationwide using a broker, our timelines are below. We are FTB, and literally ready to move in.

• Applied - 7th June 2017 (Accepted)
• Valuation Instructed - 12th June 2017
• Valuation Received - 14th June 2017
• Nationwide Requested Further Details - 5th July 2017
• Sent - 10th July 2017

It's now been over 6-weeks since our application and we still don't have an offer. This week the vendors have started calling into the estate agents and putting pressure on them - they are moving to a vacant property - so we are the chain.

We're nervous to pay for the searches until we have the offer - incase it doesn't come through - which looks as if we're holding things up - when we REALLY don't want to.

Also, our broker has gone really quiet. I've called and emailed a few times and she won't get back to me. I've explained that we're worried the vendors may offer the property to the other couple who put a (higher) offer in for it.

What should we do? I'm tempted to call Nationwide myself and ask them what's going on - is that ok? Would that cause any problems? Our broker has been really good up until now, she's managed to get it this far and I feel bad going behind her back - but I love this house and will be heartbroken if we lose it.

Help!

Thrugelmir

Without knowing what the "issue" maybe it's difficult to comment. Nationwide certainly seem to be reacting slowly.

desperatelyseekingcredit

Thrugelmir wrote: »

Without knowing what the "issue" maybe it's difficult to comment. Nationwide certainly seem to be reacting slowly.

Well the 'issue' from our side is that we haven't heard anything. Unfortunately, we don't know what Nationwide's issue is as we've had no contact from either them or our broker since she submitted the details they needed on Monday 10th July. That was:

• !!!!!! of Deposit
• An Agreement to Pay £1,000 Off A Credit Card
• Clarification on Travel Expenses

Should I just call them and ask what the hold up is, or could that do more harm than good?

goodwithsaving

Phone them. I do, even though I have a broker. I don't answer questions, just chase progress.

amnblog

DO NOT phone Nationwide direct.

Unknowingly say the wrong thing and you could find yourself with a decline.

You need to manage your Broker here.

Why is she not responding, is she away, does she have a boss or a colleague you can talk to?

goodwithsaving

Listen to amn (as will I from now on!). i'm not a pro

desperatelyseekingcredit

Ok... so I called them. Wasn't bad at all. Explained that I was going through a broker but just wanted to a status update. Basically they've come back with a decline for the amount we want. But they will lend 3k less or extend the term by 3 years. I've told them I'll go back to the broker and go through her. However, I'm really annoyed - because both of these are simple to sort.

amnblog

DSC - you got away with it this time.

Your broker is letting you down here and needs a kick up the bottom.

Jkbc90

Ring the broker, until they answer. Our application is going pretty slowly too but it is what it is, just have to wait it out. Hope you get your offer soon.

kingstreet

desperatelyseekingcredit wrote: »

Ok... so I called them. Wasn't bad at all. Explained that I was going through a broker but just wanted to a status update. Basically they've come back with a decline for the amount we want. But they will lend 3k less or extend the term by 3 years. I've told them I'll go back to the broker and go through her. However, I'm really annoyed - because both of these are simple to sort.

The problem here is Nationwide isn't quick to notify a broker when this happens.

If it happened today, it could be Wednesday next week before we get a call from the 'Managed Decline team.' Alternatively, they will send an email asking us to ring them as they couldn't get through to us when we have no missed calls from anyone.

Once documents are uploaded, it can take five days for them to be signed off and another five before an offer is issued.

We are avoiding Nationwide at the moment. Since they made major system changes in March we have seen them (of their own volition) re-key three cases due to system problems.

amnblog

kingstreet wrote: »

If it happened today, it could be Wednesday next week before we get a call from the 'Managed Decline team.' Alternatively, they will send an email asking us to ring them as they couldn't get through to us when we have no missed calls from anyone.

This is true KS. But it does not stop the Broker checking on progress regularly and updating the client.