Valuation booked-does this mean mortgage approved?

Nationwide have booked the valuation of the house we are buying. Does this mean they have reviewed our documents and we were approved, subject to an ok valuation?

I've emailed our broker to ask last night, no response yet.

Comments

  • kingstreet
    kingstreet Posts: 39,219 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    No. It probably doesn't.

    In common with many lenders, Nationwide does not have a "approved subject to valuation" stage on accepted DIPs/apps.

    The valuation is instructed early in the process, unless your DIP decision was refer. Then everything is done upfront, before the valuation.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Thanks,
    Our documents were submitted on Wednesday. Is it likely they will have reviewed them yet?
  • kingstreet
    kingstreet Posts: 39,219 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    No. Unlikely.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Roo89
    Roo89 Posts: 69 Forumite
    We've just finished the application process with Nationwide. I'll pop my timeline below to give you an idea of how long it will take before you get the hard offer, but Nationwide booked the valuation after we submitted our documents but they didn't review the documents until after the valuation had come back.

    DIP - 30/Jan/18
    Offer on house accepted - 12/Feb/18
    Full Application Submitted - 22/Feb/18
    Valuation and Survey completed - 27/Feb/18
    Nationwide request more Documents - 02/Mar/18
    We chased Nationwide for progress updates - 07/Mar/18
    Mortgage Approved - 14/Mar/18
    Hard offer received in post - 17/Mar/18
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.2K Banking & Borrowing
  • 252.8K Reduce Debt & Boost Income
  • 453.2K Spending & Discounts
  • 243.2K Work, Benefits & Business
  • 597.6K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 256.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.