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Valuation booked-does this mean mortgage approved?
shopaholicno1
Posts: 133 Forumite
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.
I've emailed our broker to ask last night, no response yet.
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Comments
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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.0 -
Thanks,
Our documents were submitted on Wednesday. Is it likely they will have reviewed them yet?0 -
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.0
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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/180
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