Nationwide - Agreement in principle

Pinklady91

Hi all,

My partner and I are FTB and have gone through a recommended broker to help us get a mortgage. We have got an AIP and have also applied for a mortgage through Nationwide and have been advised that our survey has been instructed.

I am a massive worrier and would like to know what the next steps are after the survey? Does it goe to the underwriters after the survey or is the mortgage pretty much ours if the survey is ok? It's a 4 year old shared ownership property.

I have asked if we could be declined after the AIP/survey and our broker was pretty confident that everything would be fine.

Finchy2018

We got our mortgage with nationwide in feb. We had a text confirming the offer about 24 hours after the survey. I'm not sure if the shared ownership element would mean it takes a bit longer however.

martyp

I can't say for certain what might happen in your situation but mine isn't that different. In February I went through a broker and got the AIP with Nationwide for my shared ownership property then told a surveyor would be visiting about a week later. That timescale was very short, the surveyor came inside the property (was hoping it would just be a look from the outside). Then there was a couple of weeks messing around with the valuation which did have to go to the underwriters at Nationwide so a fair amount of back and forth there for a few weeks. The next delay when the solicitor was involved was getting it all signed off by the housing association, there was a fair bit of back and forth with that and the lender again about the valuation. I'm due to have it all sorted on the 22nd so fingers crossed...
It was meant to be completed by the 1st May but the main delay was the housing association in my case, getting the right contacts there, bank holidays etc.
I was further worried as my house was valued at £2k less than it was when I bought it in 2005 but the housing association seemed to be ok with that.

robatwork

Normally...

A The AIP is given based on what you TELL Nationwide (which could be anything)

B The Offer is given based on what you can PROVE (payslips and other documents).

Assuming A=B all will be fine.