Nationwide Mortgage

kathonetwo34

Doubtful we will here in the next few hours, another week bits the dust. On the plus side our back up (Halifax) has completed there valuation so fingers crossed for that

scots1991

LZRBOI said:

Another house bites the dust for us due to a down valuation and the seller not wanting to renegotiate.
Fuming.

Oh no! Not surprised you're fuming. So annoying. I don't understand when the seller doesn't want to renegotiate- surely they will have the same issue for anyone buying with a mortgage and its gets down valued?! Hopefully 3rd time lucky?

mh_ww

So a week and a half away but I'll take that after 2 months 🙈

OneOfThem12

mh_ww said:

So a week and a half away but I'll take that after 2 months 🙈

We have just had the same text for the 26th! Hopefully we are on the home stretch now. 

retepetsir

We are existing Nationwide customers, 4 years into a 5 year fix and looking to move.
As of today we have a complete chain.
Looking at mortgage rates (<65% LTV) I was originally going with Virgin Money. Nationwide is a little more expensive but it would also mean we'd avoid the ERC of 1% if we just port our existing mortgage.

I wondered if it might be best staying with Nationwide seeing as most of our accounts are with them, but do you think this is a bad idea considering the current delays and processing times?! Would it be any better for an existing mortgage customer?

Otherwise I'll stick with Virgin who seem to have a current SLA of around 20 days!

Thanks

Harria01

Application now on working 21. DIP received, referred due to being a LTD co contractor. 2 years accounts provided, and self assess and accountants certificate
upward trend YOY on profits and income.
NO credit ie loans, overdrafts or credits cards
they queried furlough, but now back working 3 days. classing me as self employed, when im a sole contractor ltd company
been with nationwide 17 years, requested change of borrower due to divorce and buying ex out of house.

Hopefully will receive an offer this week, fingers crossed!

59% LTV

Nationwide Application
Full Application - 21/09 - took 3 weeks
Valuation booked - 22/09
Valuation received - 28/09
Hard search - ????
More info requested - 7/10
More info requested - 10/10

jimmy_boy81

So we were porting our current mortgage across to the new property with a gift from my parents to bridge the difference between the equity from the sale and the new propertys value due to a change in my wifes circumstances (works less in order to secure 30 hour funding for our soon but I always paid the mortgage anyway). Application was made on 18 September, valuation booked for 16 October and confirmation that nationwide have issued a mortgage received on the same day which was a massive relief as our broker wasn't sure if they'd even consider porting the mortgage due to the change of circumstances.

Suseka97

retepetsir said:

We are existing Nationwide customers, 4 years into a 5 year fix and looking to move.
As of today we have a complete chain.
Looking at mortgage rates (<65% LTV) I was originally going with Virgin Money. Nationwide is a little more expensive but it would also mean we'd avoid the ERC of 1% if we just port our existing mortgage.

I wondered if it might be best staying with Nationwide seeing as most of our accounts are with them, but do you think this is a bad idea considering the current delays and processing times?! Would it be any better for an existing mortgage customer?

Otherwise I'll stick with Virgin who seem to have a current SLA of around 20 days!

Thanks

My experience, being in the same position as you - although a bit further on in the process, is that it won't make a jot of difference with Nationwide.  Had I known at that at the outset I would have gone through a broker and taken the hit on the 1% ERC.   We got our DIP with NW, but during that conversation it was clear that we had to go through the same process as anyone else would regardless of having an existing mortgage with them and wanting to port (no extra borrowing, no change in term).  When we got an offer accepted we called NW and it's taken 10 days to get an appointment with the Mortgage Consultant and from what I've read on here, assuming all goes well - we'll end up in the same lengthy chain from application to offer.   I'm not even convinced we'll get the offer, if truth be told.

Suseka97

jimmy_boy81 said:

So we were porting our current mortgage across to the new property with a gift from my parents to bridge the difference between the equity from the sale and the new propertys value due to a change in my wifes circumstances (works less in order to secure 30 hour funding for our soon but I always paid the mortgage anyway). Application was made on 18 September, valuation booked for 16 October and confirmation that nationwide have issued a mortgage received on the same day which was a massive relief as our broker wasn't sure if they'd even consider porting the mortgage due to the change of circumstances.

Nice to hear some good news stories... well done

retepetsir

Suseka97 said:

retepetsir said:

We are existing Nationwide customers, 4 years into a 5 year fix and looking to move.
As of today we have a complete chain.
Looking at mortgage rates (<65% LTV) I was originally going with Virgin Money. Nationwide is a little more expensive but it would also mean we'd avoid the ERC of 1% if we just port our existing mortgage.

I wondered if it might be best staying with Nationwide seeing as most of our accounts are with them, but do you think this is a bad idea considering the current delays and processing times?! Would it be any better for an existing mortgage customer?

Otherwise I'll stick with Virgin who seem to have a current SLA of around 20 days!

Thanks

My experience, being in the same position as you - although a bit further on in the process, is that it won't make a jot of difference with Nationwide.  Had I known at that at the outset I would have gone through a broker and taken the hit on the 1% ERC.   We got our DIP with NW, but during that conversation it was clear that we had to go through the same process as anyone else would regardless of having an existing mortgage with them and wanting to port (no extra borrowing, no change in term).  When we got an offer accepted we called NW and it's taken 10 days to get an appointment with the Mortgage Consultant and from what I've read on here, assuming all goes well - we'll end up in the same lengthy chain from application to offer.   I'm not even convinced we'll get the offer, if truth be told.

Thanks very much for your input and sorry to hear its taken so long for you. We'd also be looking to increase our mortgage so I decided to go ahead with Virgin. I received a DIP last night which was higher than the original affordability assessment, so hopefully a good sign. They are sending the remaining application forms this coming week... Good luck with your purchase