Nationwide Mortgage Re-application

chunkytfg

As Our house purchase is taking literally forever we now face the prospect of our offer expiring.

Assuming we reapply for the same deal with Nationwide(there rates haven't changed) are we likely to be able to fast track it or will it need to be a full re application along with the usual proof of income, identity, etc etc?

Also as we have a gifted deposit My parents had to fill out a form to say it was actually a gift and not a loan. Would this need to be re submitted especially as they sent me the money back at the beginning of January? I only ask as my Sol only wanted to see proof of deposit back 3 months to satisfy Money Laundering laws.

chunkytfg

Anyone? Please?

harshitguptaiitr

It is only reasonable that Nationwide would want to:
- know the current value of the property
- know your current income, outgoings and affordability

there is a lot that can change in 6 months and hence the mortgage offers expire after 6 months.

with regards to gift, if the money has been in your account for over 90 days, then most likely your parents' will not have to fill the form again - but this is something your solicitor and/or mortgage broker will be able to give you the best advice.