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Mortgage application

hollygriff90
hollygriff90 Posts: 3 Newbie
First Post
in Mortgages & endowments
Hi! My husband and Submitted our mortgage application last Thursday, they text to say valuation is 20/4 not heard anything as of yet. Our DIP was all ok. I just wondered do nationwide do all of their checks cra/ affordability exc before or after valuation? I’m just anxious. So if anyone knows I would appreciate some info 

Comments

  • award16
    award16 Posts: 1 Newbie
    First Anniversary First Post
    Having just been through a 3 month nightmare application with Nationwide, I know that their not sending surveyors out to do any valuations whilst we're in lockdown. They would've completed checks before sending a surveyor out. But that dosen't mean that they can't do further checks post valuation.
    Good luck with it!
  • ACG
    ACG Posts: 24,688 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Presumably it will be a desktop valuation - under 85% LTV?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    award16 said:
     I know that their not sending surveyors out to do any valuations whilst we're in lockdown. 
    The Nationwide subcontract this work out to third parties. It is they that are currently not working. 
  • bravotango
    bravotango Posts: 112 Forumite
    Seventh Anniversary 100 Posts Name Dropper Combo Breaker
    I applied for a Mortgage beginning of this month (April 2020), and the Standard valuation was done the following day through a "Desktop Valuation".

    I don't know your LTV, but my LTV was just under 40% LTV, and so not sure if that made a difference to how quick they turned the valuation around.

    Save Save Save
    :)
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