Nationwide mortgage- is this timeline possible?

sheepy21

Mortgage application went off a few weeks ago, house isn't yet ready for sale as it's being refurbished, the keys will be with estate agent a week today. The valuer won't book the valuation until the keys are with the EA (which is annoying). Timeline wise we've been hoping for valuation w/c 9th July, exchange contracts approx 20th July and then complete a week later.
Is this timeline possible? Desperate to get out of our rental and need to give notice on 21st which we don't want to do until we've exchanged. I've heard Nationwide can take weeks to get valuation done and get mortgage offer to solicitor

Lilla_D

Is your mortgage agreed subject to satisfactory valuation? I.e. are all the checks done and is the case agreed subject to valuation? If so, then once the valuation is back, Nationwide is usually quick to issue an offer, if the valuation report doesn't raise any concerns and there's no down valuation.

How is the legal side progressing? I.e. are all the searches back, have you completed and returned all the paperwork and have the sellers responded to all the enquiries?

If your case is agreed subject to satisfactory valuation and the solicitor says that they are on track to exchange on 20 July, then the timeline is feasible. I wouldn't worry about Nationwide's speed as much as I would worry about a delay from the sellers and the solicitors.

Thrugelmir

sheepy21 wrote: »

Timeline wise we've been hoping for valuation w/c 9th July, exchange contracts approx 20th July and then complete a week later.
Is this timeline possible? (

Any number of issues could arise. I would suggest you lower your expectations.

The valuer won't book the valuation until the keys are with the EA (which is annoying).

Why is it annoying. The house is being refurbished. The valuer needs to view the finished product in order to report to your mortgage lender and make a reasoned judgement as to it's value.

sheepy21

All the legal stuff is done and has been for weeks. I can't get an answer from our broker on where we stand with Nationwide, they received the application weeks ago, after getting a DIP, I'm assuming that everything is ok and just waiting on the valuation to come back ok. So we're just waiting on mortgage offer and signing the paperwork that comes with it.
Should our broker know if the application is fine subject to valuation? I've asked him 2/3 times and been ignored. He also didn't know how long Nationwide take to get an offer in hand once valuation is done. Just concerned I've seen people say Nationwide can take weeks for a valuation to be done and then another week to receive the paperwork after it's approved.

@Thrugelmir, obviously I know it needs to be seen in its finished state which is why we've been waiting months, its annoying because they know exactly when it will be ready so I don't see why they couldn't book the valuation for a couple of days after, seems ridiculous to be wasting time

Thrugelmir

sheepy21 wrote: »

All the legal stuff is done and has been for weeks.

As you haven't got a mortgage yet. The legal side of matters are not complete.