Nationwide mortgage port timescales

Monkeysocks42

We're just starting the process of porting our mortgage deal to a new property. We've sent everything over to the broker this morning but he's out of the office until Monday so nothing will happen until then with our application. He does have colleagues but we are using this particular guy as my husband knows him so we're waiting rather than getting someone else to process the application.

Does anyone have any recent experience of porting a mortgage with Nationwide? Is it any quicker than a new customer application? Do they only instruct the valuation after they are satisfied with the documents provided? I'm expecting the estate agents to start chasing up on when the valuation will be booked in so would be really helpful to have an idea of how long this normally takes after the application is in.

kingstreet

It's a new application and it takes just as long with the port of a rate as it does without.

Typically, app to offer is two weeks.

Monkeysocks42

kingstreet wrote: »

It's a new application and it takes just as long with the port of a rate as it does without.

Typically, app to offer is two weeks.

Two weeks is much quicker than I was expecting! Thank you

kingstreet

That assumes the surveyor can get out, do the valuation and get the report back in that timescale.

If you put the app in and the valuation date is two weeks away, you aren't going to meet that timescale...

Monkeysocks42

kingstreet wrote: »

That assumes the surveyor can get out, do the valuation and get the report back in that timescale.

If you put the app in and the valuation date is two weeks away, you aren't going to meet that timescale...

Yes, that would make sense. Is the mortgage valuation the last step? As in, once the valuation is booked in does that mean everything else is accepted so as long as the property values up the offer will be issued? Our first purchase with them was a new build with H2B so all a little bit different (but still much quicker than we thought it would be!).

kingstreet

Valuation is normally instructed at the outset.

It's only held until case is accepted if a "refer" results at decision in principle stage.