Nationwide Process

Frankel17

I have had 2 DIPs referred and then accepted with Nationwide.

First in July was accepted the next day without need to send documents, although it was noted that one month payslip, proof of bonus and bank statement would be required on full application.

Second DIP was submitted last week, again a referral. I had mistakenly declared my quarterly bonus (6k) as a annual bonus on the first DIP in July and corrected this when doing the second DIP. This time no bank statement was asked, just payslip and proof of last three bonuses (I sent last 4). Using the online tracker, I saw that the documents were marked as received and satisfactory a few hours after sending and the DIP was changed to accept shortly after. I received an email from Nationwide the next day to state that following an initial review by the underwriters the DIP was accepted.

I have since submitted the full application and a valuation has been arranged next week.

Does the fact the case has been seemingly been referred to underwriters twice give me more chance of a final acceptance and is there likely to be another credit check (A third one seems a bit

More details:

Joint application with wife who is stay at home mum
Mortgage - 390k
Deposit - 100k (gifted)
Income - 110k per annum (85k basic plus 25k)
Outstanding credit - 2k on credit card (work travel) to be cleared end of the month
Credit Rating - ok but not great. Vodafone account areas in 2016 ( I cancelled direct debit but not contract)

Any insight on the process and my chances appreciated to help my stress levels.

Thrugelmir

Frankel17 wrote: »

Deposit - 100k (gifted)

Substantial sum. What's the source?

bbuckle

No expert here but I have just been through the Nationwide mortgage process, also with a low LTV (25%).

Firstly, the process for you seems a bit out of sequence. I got my DIP based on my reported (by me) affordability. When I went to the formal application stage, I then provided the required documents (like you I didn't need to provide a bank statement, perhaps because I bank with them?).

The online application tracker showed all documents accepted and only then did we go to the valuation. stage. 1 day after a satisfactory valuation, I received the formal offer.

Hope that helps.