Nationwide Mortgage application timescale for self-employed people, thanks!

Loglog

Has anyone recently applied for a mortgage through Nationwide as a self-employed person? 
Just curious about the timescale, especially due to COVID-19, THANKS! 

gunner786

I have. Broker sent in application today.
Was wondering the same. Self employed taxi driver

Loglog

Thanks for sharing but it seems there's not much info regarding Nationwide here. Hopefully, there will be more info shared 

Petriix

We did in autumn 2016 if that's recent enough?
It took quite a long time to get the application through after the AIP came back as 'referred'. They kept deciding that they wanted certain pieces of information but, rather than actually asking us, they just put it on hold.

In the end we started phoning them every day to double check what they were waiting for. Ultimately it all went through fine from the point of actually being approved but it was a painful process. It took from mid July until 10 October to finally get the full mortgage offer through. 

Loglog

Petriix said:

We did in autumn 2016 if that's recent enough?
It took quite a long time to get the application through after the AIP came back as 'referred'. They kept deciding that they wanted certain pieces of information but, rather than actually asking us, they just put it on hold.

In the end we started phoning them every day to double check what they were waiting for. Ultimately it all went through fine from the point of actually being approved but it was a painful process. It took from mid July until 10 October to finally get the full mortgage offer through. 

Thanks a lot for this piece of info and much appreciated. If yon't mind, may I know what situ you were in in terms of income proof, documents required and etc? Cheers! 

Petriix

There was a list of something like 13 documents they required: yearly tax summaries (SA302 online screenshot was sufficient), accounts, bank statements, gifted deposit form; and a few other bits relating to our other income. Basically if you've completed your tax returns then there should be sufficient information there to satisfy them of your income. 

Loglog

Petriix said:

There was a list of something like 13 documents they required: yearly tax summaries (SA302 online screenshot was sufficient), accounts, bank statements, gifted deposit form; and a few other bits relating to our other income. Basically if you've completed your tax returns then there should be sufficient information there to satisfy them of your income. 

Thanks for the info and yes, I've submitted 2 years of SA302 and tax overviews with three months of bank statements. 

katkin804

Is there any updated info on anyone self employed awaiting following application submission - 2-6 weeks is quite a range!

K_S

@katkin804 To the best of my knowledge, all SE cases submitted to Nationwide are referred, and as per their current service levels they claim to take an average of 16 working days for referred cases from app to offer. So a bit more than 3 weeks. Of course that's only an average and probably encompasses some extremes on either end.

https://www.nationwide-intermediary.co.uk/placing-business/service-updates

Thrugelmir

katkin804 said:

Is there any updated info on anyone self employed awaiting following application submission - 2-6 weeks is quite a range!

Applications differ in the same way circumstances do. 

katkin804

Thrugelmir said:

katkin804 said:

Is there any updated info on anyone self employed awaiting following application submission - 2-6 weeks is quite a range!

Applications differ in the same way circumstances do. 

I realise this but if someone just had one done would be good to know how quickly it went through.
All my documents sent and easily affordable so its really only been referred apparently as all self employed are declined or referred right now.