Nationwide Mortgage Process

lizzel

Can anyone tell me on the processthey had with Nationwide? Here's where I'm at so far:

Application submitted: 1st Nov at 10am (First Time Buyer)
Text confirming valuation: 1st Nov at 4pm
Valuation date will be:7th Nov

All online documents state that Nationwide review application and documents within 48 hours. Now it's the 4th Nov does that mean Nationwide are happy with the documents?

Nationwide's Valuation are free, so the fact that a valuation is booked, is that also a good sign?

Thanks

PawelK

Hi Lizzel. Went with Nationwide myself recently, also as a first time buyer. It was through a broker but my process was identical as yours (text message the same day etc.), valuation few days later and another two or three days after that fnal confirmation. Hope yours will be too. Good luck!

Peb123

Hi,
I've just been through the same situation, mortgage application Tuesday 24th oct
valuation Friday 27th oct
Then yesterday afternoon putting it through plausibility I got told the application was accepted and offer been sent through.

I went through a financial advisor. But found it all to be quick. Hope yours comes through quickly

Peb123

Oh and I'd say don't just presume because it's gone to valuation that the documents were fine... they do something called plausibility and it's only random selected Ones that go through it.... typical they double checked mine and questioned an extra payment of child benefit. Was just a back payment from my 2nd been born in August.

tkel01

Hi all

Not Nationwide but leeds....

Same process so far, beem told assessment is done.. Valuation completed on Thursday. Ive not been asked any questions or for any additional documents..

Does it mean its looking good?

thanks

RedRuby_2

Is anyone using a Help to Buy ISA with their application?

lizzel

Hi redruby. I haven't used a Help to buy ISA so can't provide any help with this. We have used a mortgage advisor and have had the Help to buy funding approved.

PawelK

RedRuby wrote: »

Is anyone using a Help to Buy ISA with their application?

I had htb so might be able to help.

lizzel

**UPDATE**
Nationwide have assessed documents and they just need our marriage certificate as my wage slips are in a different surname. Does this mean once they have this, pending valuation they are happy?

RedRuby_2

I was just wondering if using the help to buy isa slowed down anyone's application?

They make you phone or go to branch if you are using a help to buy loan or save to buy isa or save to buy account, but it doesn't make clear if that includes a help to buy isa. I thought that the help to buy isa was processed afterwards by your conveyancer and therefore doesn't have a direct affect on your mortgage application.

I've also had the dilemma of either putting down a larger deposit (20%) and getting a below 2% fixed rate mortgage or putting just under a 15% deposit and getting a save to buy mortgage which will give me a 2.39% rate mortgage but free up some cash for renovations with more cashback.

lizzel

**update**
My broker has confirmed that the valuation that took place yesterday is currently being reviewed by Nationwide. How long did this part of the process take for everyone else?

Had an email alert from Experian that there has been a search on my file. When I clicked on it, it was from 1st Nov (when AIP and full application was put in). It said generic identification. Guessing this was from the AIP. Would have thought Experian alerts were quicker than 7 days!