Nationwide Mortgage Process

LA.Nyx

Wow, I must be unlucky, mortgage application done on the 2/11/17, valuation is booked for the 23rd!

kingstreet

LA.Nyx wrote: »

Wow, I must be unlucky, mortgage application done on the 2/11/17, valuation is booked for the 23rd!

Basic mortgage report & valuation, or more in-depth inspection/survey?

Our latest Nationwide application, with a valuation only;-

03/11/17 - application
07/11/17 - valuation
09/11/17 - offer.

You need to be aware that corporate surveyors who do lender valuation work have fewer surveyors qualified to the level needed to do a 'homebuyer's report' so letting lender's surveyor do valuation and appointing your own surveyor for the report on condition will result in faster and more cost-effective service.

lizzel

So I'm now furious. Nationwide had Countrywide survey the property and they've down valued it by £25000. Apparently Countrywide are known for it. Everything else with the Mortgage was accepted. Got to start the whole process again with Halifax ��

kezzygirl

lizzel wrote: »

So I'm now furious. Nationwide had Countrywide survey the property and they've down valued it by £25000. Apparently Countrywide are known for it. Everything else with the Mortgage was accepted. Got to start the whole process again with Halifax ��

So does that mean they won't lend you the amount you asked for?prob a silly question 😅

RedRuby_2

lizzel wrote: »

So I'm now furious. Nationwide had Countrywide survey the property and they've down valued it by £25000. Apparently Countrywide are known for it. Everything else with the Mortgage was accepted. Got to start the whole process again with Halifax ��

Have you tried renegotiating the property price with the vendor down by £25000?

lizzel

kezzygirl wrote: »

So does that mean they won't lend you the amount you asked for?prob a silly question 😅

That's right. They wouldn't lend the amount. Everything else passed. Fell at the final hurdle. All going through with Halifax now

lizzel

RedRuby wrote: »

Have you tried renegotiating the property price with the vendor down by £25000?

Yes, tried it. But it's a new build, in a lovely village with outstanding schools. I've been looking for a house for 12 months, no way be able to find one as good as this with all the added benefits for that cheap.

Gone with Halifax. All approved pending Valuation. So hoping Valuation happens quickly so we can exchange and get the keys.

First_time_Buyer

I am a first time buyer and applied for a mortgage with Nationwide via a broker (London & Country Mortgages). Been a real nightmare so far.

I have an excellent credit rating and 0 debt and submitted all my documentation really quickly.

27th December - received text confirmation of mortgage application received by nationwide.
28th December - payment for valuation taken out of my bank account by Nationwide Swindon

Now 19th January, Valuation still not booked in, have the seller threatening to put the house back on the market as have heard nothing from Nationwide. Been chasing my broker to chase Nationwide numerous times and turns out the underwriters haven't even started looking through the documentation!!! Been told a further 5 more working days until they start going through it!!! Terrible service!!! And out of pocket!!! Not even sure I can get my money back for the valuation that didn't even take place! If still no sign of things moving I'm changing Lender!