Nationwide Mortgage

scots1991

Just had our mortgage offer agreed (whilst I was researching reasons why a mortgage may get declined...I was really stressing based on other peoples experiences).
Our timelines (25 WD): 
Joint FTB 85% LTV
Application submitted: 18/09
Valuation requested: 18/09
Initial documents sent (partners pay slip and gifted deposit form- these are the only documents they ever asked for): 24/09
Valuation booked: 25/09
Valuation completed: 29/09
Passed vetting process: 29/09
Valuation received by Nationwide: 30/09 (I didn't get any text to say it had been approved)
Update 20/10: I called Nationwide for an update. Was told application was sent to senior underwriter queue (I think that’s what they said- some additional approval?) but then was determined this wasn't required so went back to original case worker and back into that queue to look at docs. So looks like my application was in and out of queues for 2 weeks.... Was told would hear more on 27/10
Mortgage offer issued text and email received: 23/10

I can’t see any hard credit check performed yet (have signed up to Equifax free trial and nothing on there yet- can’t access TransUnion atm)

 Some details that may help other people who are worrying:

1. My partner was on furlough but back full time and pay now – the pay slip provided showed that
2. My partner had gone into his overdraft (max £400 in March- other months not as much) but as we didn’t provide bank statements, Nationwide would have only seen what was on the Credit Report which for the past 4 months show overdraft as £4, £0, £14, £0 (based on the day it was reported). So I know there have been some people refused mortgages because of overdraft usage, so may depend how much and how much this is in relation to overall income. I never went into my overdraft and between us we have monthly income of ~£5,500 and are borrowing just under 4x our salary- so they may not see that as an impact to affordability. I could have helped him out of the overdraft sooner as I earn more than he does but I always asked if he was ok with money which he said yes! But no overdraft now and he is managing money better!
3. My partner also has a thin credit file. All bills etc are in my name and he doesn’t have a credit card just one current account- so thought this may impact us but hadn’t seemed to. But neither of us any late payments etc.

So just hang in there and don’t read too much into other peoples declines- lots of factors impact this. Good luck!

Harria01

scots1991 said:

Just had our mortgage offer agreed (whilst I was researching reasons why a mortgage may get declined...I was really stressing based on other peoples experiences).
Our timelines (25 WD): 
Joint FTB 85% LTV
Application submitted: 18/09
Valuation requested: 18/09
Initial documents sent (partners pay slip and gifted deposit form- these are the only documents they ever asked for): 24/09
Valuation booked: 25/09
Valuation completed: 29/09
Passed vetting process: 29/09
Valuation received by Nationwide: 30/09 (I didn't get any text to say it had been approved)
Update 20/10: I called Nationwide for an update. Was told application was sent to senior underwriter queue (I think that’s what they said- some additional approval?) but then was determined this wasn't required so went back to original case worker and back into that queue to look at docs. So looks like my application was in and out of queues for 2 weeks.... Was told would hear more on 27/10
Mortgage offer issued text and email received: 23/10

I can’t see any hard credit check performed yet (have signed up to Equifax free trial and nothing on there yet- can’t access TransUnion atm)

 Some details that may help other people who are worrying:

1. My partner was on furlough but back full time and pay now – the pay slip provided showed that
2. My partner had gone into his overdraft (max £400 in March- other months not as much) but as we didn’t provide bank statements, Nationwide would have only seen what was on the Credit Report which for the past 4 months show overdraft as £4, £0, £14, £0 (based on the day it was reported). So I know there have been some people refused mortgages because of overdraft usage, so may depend how much and how much this is in relation to overall income. I never went into my overdraft and between us we have monthly income of ~£5,500 and are borrowing just under 4x our salary- so they may not see that as an impact to affordability. I could have helped him out of the overdraft sooner as I earn more than he does but I always asked if he was ok with money which he said yes! But no overdraft now and he is managing money better!
3. My partner also has a thin credit file. All bills etc are in my name and he doesn’t have a credit card just one current account- so thought this may impact us but hadn’t seemed to. But neither of us any late payments etc.

So just hang in there and don’t read too much into other peoples declines- lots of factors impact this. Good luck!

Thanks! My application was only completed 3 days after yours. On furlough too (ltd co director) but income slowly coming back upto to normal levels and with a good ltv and credit rating with no use of any credit fingers crossed should be ok.....now on working day 25! They est 26 Working days. 

scots1991

Harria01 said:

Thanks! My application was only completed 3 days after yours. On furlough too (ltd co director) but income slowly coming back upto to normal levels and with a good ltv and credit rating with no use of any credit fingers crossed should be ok.....now on working day 25! They est 26 Working days. 

Fingers crossed you hear soon!! 

RightBobbyDazzler

NW told me I'd hear re: formal mortgage offer by the middle of this week, at the latest. I've chased and now they say I'll hear by the middle of next week, at the latest! So unbelievably frustrating!!!!

RightBobbyDazzler

scots1991 said:

Just had our mortgage offer agreed (whilst I was researching reasons why a mortgage may get declined...I was really stressing based on other peoples experiences).
Our timelines (25 WD): 
Joint FTB 85% LTV
Application submitted: 18/09
Valuation requested: 18/09
Initial documents sent (partners pay slip and gifted deposit form- these are the only documents they ever asked for): 24/09
Valuation booked: 25/09
Valuation completed: 29/09
Passed vetting process: 29/09
Valuation received by Nationwide: 30/09 (I didn't get any text to say it had been approved)
Update 20/10: I called Nationwide for an update. Was told application was sent to senior underwriter queue (I think that’s what they said- some additional approval?) but then was determined this wasn't required so went back to original case worker and back into that queue to look at docs. So looks like my application was in and out of queues for 2 weeks.... Was told would hear more on 27/10
Mortgage offer issued text and email received: 23/10

I can’t see any hard credit check performed yet (have signed up to Equifax free trial and nothing on there yet- can’t access TransUnion atm)

 Some details that may help other people who are worrying:

1. My partner was on furlough but back full time and pay now – the pay slip provided showed that
2. My partner had gone into his overdraft (max £400 in March- other months not as much) but as we didn’t provide bank statements, Nationwide would have only seen what was on the Credit Report which for the past 4 months show overdraft as £4, £0, £14, £0 (based on the day it was reported). So I know there have been some people refused mortgages because of overdraft usage, so may depend how much and how much this is in relation to overall income. I never went into my overdraft and between us we have monthly income of ~£5,500 and are borrowing just under 4x our salary- so they may not see that as an impact to affordability. I could have helped him out of the overdraft sooner as I earn more than he does but I always asked if he was ok with money which he said yes! But no overdraft now and he is managing money better!
3. My partner also has a thin credit file. All bills etc are in my name and he doesn’t have a credit card just one current account- so thought this may impact us but hadn’t seemed to. But neither of us any late payments etc.

So just hang in there and don’t read too much into other peoples declines- lots of factors impact this. Good luck!

Ace news!!!! Woo!

RightBobbyDazzler

fingersallcrossed2020 said:

RightBobbyDazzler said:

25th September

Same day as me! Fingers crossed we will hear soon!! 

Any news on your app yet?

RightBobbyDazzler

scots1991 said:

Just had our mortgage offer agreed (whilst I was researching reasons why a mortgage may get declined...I was really stressing based on other peoples experiences).
Our timelines (25 WD): 
Joint FTB 85% LTV
Application submitted: 18/09
Valuation requested: 18/09
Initial documents sent (partners pay slip and gifted deposit form- these are the only documents they ever asked for): 24/09
Valuation booked: 25/09
Valuation completed: 29/09
Passed vetting process: 29/09
Valuation received by Nationwide: 30/09 (I didn't get any text to say it had been approved)
Update 20/10: I called Nationwide for an update. Was told application was sent to senior underwriter queue (I think that’s what they said- some additional approval?) but then was determined this wasn't required so went back to original case worker and back into that queue to look at docs. So looks like my application was in and out of queues for 2 weeks.... Was told would hear more on 27/10
Mortgage offer issued text and email received: 23/10

I can’t see any hard credit check performed yet (have signed up to Equifax free trial and nothing on there yet- can’t access TransUnion atm)

 Some details that may help other people who are worrying:

1. My partner was on furlough but back full time and pay now – the pay slip provided showed that
2. My partner had gone into his overdraft (max £400 in March- other months not as much) but as we didn’t provide bank statements, Nationwide would have only seen what was on the Credit Report which for the past 4 months show overdraft as £4, £0, £14, £0 (based on the day it was reported). So I know there have been some people refused mortgages because of overdraft usage, so may depend how much and how much this is in relation to overall income. I never went into my overdraft and between us we have monthly income of ~£5,500 and are borrowing just under 4x our salary- so they may not see that as an impact to affordability. I could have helped him out of the overdraft sooner as I earn more than he does but I always asked if he was ok with money which he said yes! But no overdraft now and he is managing money better!
3. My partner also has a thin credit file. All bills etc are in my name and he doesn’t have a credit card just one current account- so thought this may impact us but hadn’t seemed to. But neither of us any late payments etc.

So just hang in there and don’t read too much into other peoples declines- lots of factors impact this. Good luck!

Is it just me or is the inconsistent text / email updates a mind blower? I think they're great - I want to get them. But the fact you know NW don't always send them means that, just because you haven't received an update - doesn't mean there isn't one!!! Be great if NW sent them (always) or just not at all!

RightBobbyDazzler

Harria01 said:

scots1991 said:

Just had our mortgage offer agreed (whilst I was researching reasons why a mortgage may get declined...I was really stressing based on other peoples experiences).
Our timelines (25 WD): 
Joint FTB 85% LTV
Application submitted: 18/09
Valuation requested: 18/09
Initial documents sent (partners pay slip and gifted deposit form- these are the only documents they ever asked for): 24/09
Valuation booked: 25/09
Valuation completed: 29/09
Passed vetting process: 29/09
Valuation received by Nationwide: 30/09 (I didn't get any text to say it had been approved)
Update 20/10: I called Nationwide for an update. Was told application was sent to senior underwriter queue (I think that’s what they said- some additional approval?) but then was determined this wasn't required so went back to original case worker and back into that queue to look at docs. So looks like my application was in and out of queues for 2 weeks.... Was told would hear more on 27/10
Mortgage offer issued text and email received: 23/10

I can’t see any hard credit check performed yet (have signed up to Equifax free trial and nothing on there yet- can’t access TransUnion atm)

 Some details that may help other people who are worrying:

1. My partner was on furlough but back full time and pay now – the pay slip provided showed that
2. My partner had gone into his overdraft (max £400 in March- other months not as much) but as we didn’t provide bank statements, Nationwide would have only seen what was on the Credit Report which for the past 4 months show overdraft as £4, £0, £14, £0 (based on the day it was reported). So I know there have been some people refused mortgages because of overdraft usage, so may depend how much and how much this is in relation to overall income. I never went into my overdraft and between us we have monthly income of ~£5,500 and are borrowing just under 4x our salary- so they may not see that as an impact to affordability. I could have helped him out of the overdraft sooner as I earn more than he does but I always asked if he was ok with money which he said yes! But no overdraft now and he is managing money better!
3. My partner also has a thin credit file. All bills etc are in my name and he doesn’t have a credit card just one current account- so thought this may impact us but hadn’t seemed to. But neither of us any late payments etc.

So just hang in there and don’t read too much into other peoples declines- lots of factors impact this. Good luck!

Thanks! My application was only completed 3 days after yours. On furlough too (ltd co director) but income slowly coming back upto to normal levels and with a good ltv and credit rating with no use of any credit fingers crossed should be ok.....now on working day 25! They est 26 Working days. 

My fingers are crossed for you!

RightBobbyDazzler

chlo0312 said:

Have been keeping an eye on this thread and was rather worried about the time scales. 

We’re FTB with 85% LTV
02/10 full application sent
05/10 received text to say valuation booked for 19/10
19/10 valuation completed
19/10 offer received via text and email 

I wish you all the best of luck & hope you all hear soon!

Wallop!!! This is how it should be! Great news :-) Woo!!!

fingersallcrossed2020

RightBobbyDazzler said:

fingersallcrossed2020 said:

RightBobbyDazzler said:

25th September

Same day as me! Fingers crossed we will hear soon!! 

Any news on your app yet?

Nope, nothing 😩