Nationwide Mortgage

DC89216

hburnett163 said:

DC89216 said:

Afternoon all.
Application submitted a month ago. Just got an email saying our application has been accepted by the underwriters. But now the application has disappeared from my account when I log in and I'm not sure what to do now? This normal? 

I would give them a call! Something like this happened to someone else on here and I can’t remember the outcome but they only found out why by calling

Thanks. I did. 
It's normal apparently. They've scheduled the valuation (got the email this morning) with the owners and all we have to do now is sit and wait for that to be done. 

alvaronistal

So we called our mortgage advisor today to get a status update and told us that the valuation was rescheduled to yesterday, but they approved it the same day and today they issued the offer!

So that's 13 working days from application to offer for a FTB 85% LTV joint mortgage. We really thought we were in for a wild ride after reading some stories here.

To help out some of the people here (I know I'd appreciate this) here is some more background about our situation:

• We went through a mortgage advisor
• We will be borrowing around 3.4x our yearly income
• I'm working full-time on a new job (so I'm on the 3rd out of 6 months' probation) and my wife is not working, we have one dependant under 18 years old.
• We had ~£6k (10%) of our 15% deposit as a gift from our family.
• Our credit scores are excellent mine is 999 on Experian, my wife's is slightly lower, but still excellent.

I hope this helps somebody to put their mind at ease as I've been looking forward to every day I came to this post!

Good luck everyone!

alexthomas21

Hello All, 
FTB here, going through a nationwide mortgage and hope it goes smoothly...
90% LTV - could have borrowed more but settled for 81% of affordability, sent all payslips, 3 month bank statements, LISA proof and ID to broker.

12/10/2020 - application submitted 
14/10/2020 - valuation booked for 16th October 2020.
Heard nothing since off nationwide through communication channels but through live chat have said that we are having document checked and now has gone to mortgage consultant? Query if this is the underwriter, said we should know in 24 hours but that has since come and gone...

hope you all get your offers through 🙂 will keep you updated.

kathonetwo34

Totally annoyed now. Applied with nationwide 28 August. Valuation was done, questions were asked a few times each time, went to the back of the list. MA adviced to apply to Halifax as well just incase. Was told valuation was going to take place 3 days after application, contacted MA a week later to be told, valuation done and it's being assets. 2 weeks later contacted MA and estate agent only to be told estate agent had no one available to do the valuation with Halifax so it hasn't been done! I don't get all this no one seems to know anything. So it will be weeks now AGAIN. And in the mean time still no news from bloody nationwide. Jeeze I didn't realize it would be like this 

scots1991

kathonetwo34 said:

Totally annoyed now. Applied with nationwide 28 August. Valuation was done, questions were asked a few times each time, went to the back of the list. MA adviced to apply to Halifax as well just incase. Was told valuation was going to take place 3 days after application, contacted MA a week later to be told, valuation done and it's being assets. 2 weeks later contacted MA and estate agent only to be told estate agent had no one available to do the valuation with Halifax so it hasn't been done! I don't get all this no one seems to know anything. So it will be weeks now AGAIN. And in the mean time still no news from bloody nationwide. Jeeze I didn't realize it would be like this 

I can't believe you are still waiting! Have you contacted Nationwide to ask them? As are surely over the SLAs it takes to look at docs?

kathonetwo34

scots1991 said:

kathonetwo34 said:

Totally annoyed now. Applied with nationwide 28 August. Valuation was done, questions were asked a few times each time, went to the back of the list. MA adviced to apply to Halifax as well just incase. Was told valuation was going to take place 3 days after application, contacted MA a week later to be told, valuation done and it's being assets. 2 weeks later contacted MA and estate agent only to be told estate agent had no one available to do the valuation with Halifax so it hasn't been done! I don't get all this no one seems to know anything. So it will be weeks now AGAIN. And in the mean time still no news from bloody nationwide. Jeeze I didn't realize it would be like this 

I can't believe you are still waiting! Have you contacted Nationwide to ask them? As are surely over the SLAs it takes to look at docs?

The beauty of letting others deal with things is you don't have to do anything, disadvantage is that you have to rely on them to do it!! My partner is very layed back and hasn't wanted to "bother" people so has only chased for up dates when his ears get sick of listening to me nag him to do it. I feel alot of time has been wasted. I'm starting to worry that if he doesn't start pulling his figure out Nd actually getting on to these people the sellers are just going to put it back on the market! Think it's time I just take over

RightBobbyDazzler

alvaronistal said:

So we called our mortgage advisor today to get a status update and told us that the valuation was rescheduled to yesterday, but they approved it the same day and today they issued the offer!

So that's 13 working days from application to offer for a FTB 85% LTV joint mortgage. We really thought we were in for a wild ride after reading some stories here.

To help out some of the people here (I know I'd appreciate this) here is some more background about our situation:

• We went through a mortgage advisor
• We will be borrowing around 3.4x our yearly income
• I'm working full-time on a new job (so I'm on the 3rd out of 6 months' probation) and my wife is not working, we have one dependant under 18 years old.
• We had ~£6k (10%) of our 15% deposit as a gift from our family.
• Our credit scores are excellent mine is 999 on Experian, my wife's is slightly lower, but still excellent.

I hope this helps somebody to put their mind at ease as I've been looking forward to every day I came to this post!

Good luck everyone!

Hi. Did you get text messages from Nationwide? If so, at which milestones did you receive these?

RightBobbyDazzler

Apparently - when NW are reviewing documents there are two stages:
1) A review to check that the documents requested have been provided, and;
2) A review to check the detail of the documents provided.
Sounds to me like an excuse of the amount of time the process is taking?

hburnett163

RightBobbyDazzler said:

Apparently - when NW are reviewing documents there are two stages:
1) A review to check that the documents requested have been provided, and;
2) A review to check the detail of the documents provided.
Sounds to me like an excuse of the amount of time the process is taking?

yes, first stage is considered 'initial assessment' this is 5 WDs, and then the second stage is underwriters assessment and is 8WD. If you have to make any changes/submit extra documents you have to start this again... I know from (three) experiences.
Honestly, they've completely overburdened themselves as the only lender on the market doing 90% LTV and they're aware but they're also the ONLY lender doing 90% LTV leaving many of us with no other options.

hburnett163

So once again, have been utterly let down by my broker. He input our salaries incorrectly making our affordability 20k under what it actually is. 
This is his third strike, he hasn't even told us I found out by contacting Nationwide and have just submitted our documents directly. Am waiting to see just how long he leaves it to tell us he messed up again!
For those interested first strike - taking 2 full weeks to submit the application for us that he actually did IN FRONT OF US at the appointment
second strike - incorrect purchase price on the application not rectified until the 9th October
We're lucky to have a family member who is willing to help us by putting their money into the Barclays Springboard scheme so we can move quicker and not lose out on the house! 
(tomorrow is the start of week 9 since application, week 11 since offer was accepted)