Nationwide Mortgage

khtaylor

I've not heard anything either. We applied 14th July. MB called them last Wednesday and they told her our application was due to be vetted in Monday 3rd and then there is a 6 day wait for underwritter.

firsttimebuyerlpl

lancslass26 said:

firsttimebuyerlpl said:

FTB here also. Our timeline so far: 
22nd July - Mortgage application submitted - text confirmation
22nd July  - Confirmation that a valuation has been booked for the 28th July
23rd July - Clearscore showing that a financial associated has been added to my credit report - Does this mean the application is approved?
24th July - MA asked for latest payslip as we both got paid after the application was submitted - sent across
28th July - Assuming valuation has been done. we havent heard any different from NW or MA. 

today (29th) we are still waiting on word from NW or MA to confirm if the valuation was satisfactory or not. Is this a good or bad sign? I dont want to chase our MA just yet as the valuation was only completed yesterday. We havent been asked for any further documents so not sure if this a good sign either. Havent seen a hard search on my credit report yet - not sure on my partners.
Nervous that things arent going to go through as I've heard NW are being strict on all applications.

Hi, here is the link for the service timescales that NW update each day https://www.nationwide-intermediary.co.uk/placing-business/service-updates
I've also had financial association added to clearscore because of the application but no hard search performed or showing via Equifax yet so until the underwriters actually do their part. Think if you are COVID unaffected and basic employment then might be electronically underwritten. Any Self employment (genuine self emp or company director) then needs manual underwriter.

Update on our application. Still assuming survey was done on the 28th but still have not received notification of it being competed or satisfactory. Hard search done on my credit file on the 1/8. Hopefully hear something this week! 

leodis23

Chased my MB today and she said the valuation still hasn't been instructed, and likely won't until the case has been agreed. It's already been over a week, so the nerves are creeping up again.

corcutt

leodis23 said:

Chased my MB today and she said the valuation still hasn't been instructed, and likely won't until the case has been agreed. It's already been over a week, so the nerves are creeping up again.

Stay strong, its a high stress process for everyone

firsttimebuyerlpl

firsttimebuyerlpl said:

lancslass26 said:

firsttimebuyerlpl said:

FTB here also. Our timeline so far: 
22nd July - Mortgage application submitted - text confirmation
22nd July  - Confirmation that a valuation has been booked for the 28th July
23rd July - Clearscore showing that a financial associated has been added to my credit report - Does this mean the application is approved?
24th July - MA asked for latest payslip as we both got paid after the application was submitted - sent across
28th July - Assuming valuation has been done. we havent heard any different from NW or MA. 

today (29th) we are still waiting on word from NW or MA to confirm if the valuation was satisfactory or not. Is this a good or bad sign? I dont want to chase our MA just yet as the valuation was only completed yesterday. We havent been asked for any further documents so not sure if this a good sign either. Havent seen a hard search on my credit report yet - not sure on my partners.
Nervous that things arent going to go through as I've heard NW are being strict on all applications.

Hi, here is the link for the service timescales that NW update each day https://www.nationwide-intermediary.co.uk/placing-business/service-updates
I've also had financial association added to clearscore because of the application but no hard search performed or showing via Equifax yet so until the underwriters actually do their part. Think if you are COVID unaffected and basic employment then might be electronically underwritten. Any Self employment (genuine self emp or company director) then needs manual underwriter.

Update on our application. Still assuming survey was done on the 28th but still have not received notification of it being competed or satisfactory. Hard search done on my credit file on the 1/8. Hopefully hear something this week! 

Spoke with nationwide today myself. They said everything looks on track but they are still waiting on the surveyors report to come back. That should have been done on the 28th of July and NW advised if the date was changed they would have text us. How long does it take for the report to come back? I feel like that’s all we are waiting on now. 

thaddy

I've just had a call from our broker saying the valuation issue is sorted but we now have to wait another week or so for the report to be reviewed. Current service levels are 6working days so hoping to have some news by the end of next week.

thaddy

firsttimebuyerlpl said:

Spoke with nationwide today myself. They said everything looks on track but they are still waiting on the surveyors report to come back. That should have been done on the 28th of July and NW advised if the date was changed they would have text us. How long does it take for the report to come back? I feel like that’s all we are waiting on now. 

I think it takes 48hrs for Nationwide to get the report from the surveyors It's just that there's such a big backlog at the moment so who knows. Here are the current service levels https://www.nationwide-intermediary.co.uk/placing-business/service-updates

BillStruthBear

BillStruthBear said:

We had an offer from NW but unfortunately COVID took our new build date beyond the latest date NW were willing to extend to so we had to resubmit a new application. 

DIP - 17th July 
Full application - 17th July
Hard credit check - 27th July
Additional information requests on 27th July - my wife is self-employed, she took the SEISS and continued to work through so we sent them evidence of her trading as normal with no drop-off in income (works in healthcare). They also asked for proof of our deposit (something they didn't actually do last time...!). 

We had to provide updated payslips for myself to confirm I hadn't been furloughed or anything and also my wife's latest tax year overview, which probably actually works in our favour slightly. The years they judged us on previously she was pretty much part-time whereas last year was a great year working full-time. 
Now waiting to hear back. There's always a worry the underwriter comes back with something, so hopefully hear back soon and put my mind at ease. Not heard anything about another valuation, the estate we're buying in has seen high demand for our house type and the latest one they put up was priced at £7k more than ours and sold inside 2 days, so the demand appears to be there, but I have no idea how these things are done.

The update on this is that there has been no update. Nationwide came back asking if we had claimed any Government benefits during the lockdown period. Since we responded, there has been no update. Chased the MB today who advised that Nationwide has told them it is in a queue for underwriting again and can take up to 6 working days. 

haras_n0sirrah

By taking the seiss you are declaring your income has been affected adversely by covid so they are going to look a lot closer at the application. 

BillStruthBear

haras_n0sirrah said:

By taking the seiss you are declaring your income has been affected adversely by covid so they are going to look a lot closer at the application. 

In your experience, how are they treating it? 
I was mulling over just repaying it anyway, given my wife hasn't been impacted at all (and this comes through in her year-to-date monthly financials) - does that get rid of the issue?