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

desperatelyseekingcredit

Thanks for the responses guys. Have spoken to the broker now and all seems fine. Have agreed to their extension of terms, now just waiting to hear back.

Anyone know the chances of getting declined again? They were the ones that made the extension offer after all?

Also, there is a technical fault on our account - so this may be what you mentioned about the system change!

goodwithsaving

desperatelyseekingcredit wrote: »

Thanks for the responses guys. Have spoken to the broker now and all seems fine. Have agreed to their extension of terms, now just waiting to hear back.

Anyone know the chances of getting declined again? They were the ones that made the extension offer after all?

Also, there is a technical fault on our account - so this may be what you mentioned about the system change!

You weren't declined. You were simply offered a lesser amount than what you applied for. That's not a decline.

desperatelyseekingcredit

desperatelyseekingcredit wrote: »

Anyone know the chances of getting declined again? They were the ones that made the extension offer after all?

So, do any brokers have experience with this happening? Is it common place for them to offer slightly less or an extension on the term?

LuckyG

desperatelyseekingcredit wrote: »

So, do any brokers have experience with this happening? Is it common place for them to offer slightly less or an extension on the term?

I'm not a broker but from reading various posts on this forum, I can tell you that it is not unheard of for lenders to offer slightly less than applied for.

kingstreet

goodwithsaving wrote: »

You weren't declined. You were simply offered a lesser amount than what you applied for. That's not a decline.

It says decline on the Nationwide system in such circumstances.

desperatelyseekingcredit

kingstreet wrote: »

It says decline on the Nationwide system in such circumstances.

Yeah, that's what worried me. But as they've come back with an offer of less money one a longer term, does that mean I should be confident that they will make a mortgage offer? Or should I still worry that it might still be fully declined?

kingstreet

No. It's called a managed decline, as I said earlier.

The managed decline team will work on how to get the original amount through perhaps with a longer term or a credit commitment being repaid, or will agree on a smaller amount.

Once it's resolved the case goes back to accept and the offer is issued.

desperatelyseekingcredit

kingstreet wrote: »

No. It's called a managed decline, as I said earlier.

The managed decline team will work on how to get the original amount through perhaps with a longer term or a credit commitment being repaid, or will agree on a smaller amount.

Once it's resolved the case goes back to accept and the offer is issued.

Thanks for clarifying. I'm sorry for being a pain. But we had a bad phone call from the vendor on Friday threatening to put the house back on the market if things didn't start moving. So I've paid the initial £300 for searches to the solicitor.

My hope is as they've come back with the suggestion of extending the term and we have agreed to it, the underwriters should be able to issue the offer without too much bother, but I'm always very nervous about these things.

We're just really worried about losing this house, as we love it. Thanks again.

desperatelyseekingcredit

Since we spoke to the broker and she said she would chase and get the 'technical' error resolved we have heard nothing and it's been another week now. :mad:

amnblog

When did you last speak to the Broker, and what is she doing?