Nationwide Mortgage

mh_ww

Another day, nothing heard.

emma_829

GN2020 said:

emma_829 said:

GN2020 said:

Just had a call from our broker (I got very nervous hoping for good news!), it’s not bad news at least, but Nationwide are now asking for an up to date bank statements from me due to the time that has passed 😩

They also want to know that my inheritance used for the deposit from the sale of my late fathers house is NOT a gift.
My dad passed without a will, we sorted out the estate as a family as my mam was his next of kin so we didn’t go for probate as we didn’t need it. 

I have sent them a letter from the solicitors who dealt with the sale showing the money being paid to my mam, a letter from my mam saying it’s inheritance, copies of my bank statement showing the money paid into my account from my mam as well. 

They asked for a letter from the probate solicitor, which the broker had to say again, there wasn’t one! 

What I’ve been asked for now is a letter from my mam (which they may or may not accept) saying categorically that it is not a gift or a loan and she has no interest in the property. 

I’m exhausted and stressed to high heaven about this, it’s hard enough that I’m still grieving for my dad without this stress as well. 

Our broker is fuming with them, he said if they don’t accept it though he could place us with accord mortgages and they are super quick. 

I’m half tempted to sack off NW and put in an application with accord. 

Because I’ve got to wait for them to look at the bank statements and then get my mam to do this letter and send it down to me. Which, given the timescales of NW could put us back another 2-3 weeks! 😩😩

And to top it off, they confirmed on 29/10 our documents went for final checks, they only looked at them yesterday! 

I was a pain and chased Nationwide directly to make sure they had the document. I don’t know whether it worked, but I didn’t have to wait as long as they told me. It’s either that or get your broker to push it with the BDM. To be honest, I think this is the underwriter now asking. As such, this probably is the final checks. If you get the stuff sent back ASAP, I bet you would have a decision with 3 or 4 days like I did. 

Our broker did say that it was the underwriter asking for it. 

Hopefully this letter from my mam will be enough as she’s written it and really emphasised that it’s not a gift, loan etc, she doesn’t want a penny of it back and won’t ever ask for it back because it’s my inheritance. Fingers crossed they’ll accept it. 

She’s sent it so hopefully I’ll get it tomorrow then I can scan it in and send it over! 

Then I think this is the final checks. I heard back on the 4th working day (first thing) after the document had been sent. They indicated to me that it still had to go for final checks. 

I work in the property sector in these circumstances lenders like the word unequivocal. I.e. I can unequivocally confirm this is an inheritance payment and not a loan or gift. There is no repayment plan in place and the funds are for your benefit as the share of your father’s estate.

If you have a conveyancer/solicitor they should be able to assist. I’d presume without a will you applied for Letters of Administration from the Courts? You wouldn’t have been able to sell the property without this unless your Mum was named on the Deeds as a joint tenant. If you can supply a copy of the Letters of Administration or ask the solicitor who acted in the sale to provide the Register of Title. The latter will show your mum automatically obtained your Dad’s share in the property and she was legally the sole owner and can distribute the funds as she wished or according to the rules of intestacy. I.e. Spouse gets half and then any remaining children get their share of half the estate.  

If worst comes to worst, couldn’t your Mum just say it’s gift and fill in the required declaration. At least this would satisfy them if you obtained a larger share of the estate than you were due under intestacy. 

GN2020

emma_829 said:

GN2020 said:

emma_829 said:

GN2020 said:

Just had a call from our broker (I got very nervous hoping for good news!), it’s not bad news at least, but Nationwide are now asking for an up to date bank statements from me due to the time that has passed 😩

They also want to know that my inheritance used for the deposit from the sale of my late fathers house is NOT a gift.
My dad passed without a will, we sorted out the estate as a family as my mam was his next of kin so we didn’t go for probate as we didn’t need it. 

I have sent them a letter from the solicitors who dealt with the sale showing the money being paid to my mam, a letter from my mam saying it’s inheritance, copies of my bank statement showing the money paid into my account from my mam as well. 

They asked for a letter from the probate solicitor, which the broker had to say again, there wasn’t one! 

What I’ve been asked for now is a letter from my mam (which they may or may not accept) saying categorically that it is not a gift or a loan and she has no interest in the property. 

I’m exhausted and stressed to high heaven about this, it’s hard enough that I’m still grieving for my dad without this stress as well. 

Our broker is fuming with them, he said if they don’t accept it though he could place us with accord mortgages and they are super quick. 

I’m half tempted to sack off NW and put in an application with accord. 

Because I’ve got to wait for them to look at the bank statements and then get my mam to do this letter and send it down to me. Which, given the timescales of NW could put us back another 2-3 weeks! 😩😩

And to top it off, they confirmed on 29/10 our documents went for final checks, they only looked at them yesterday! 

I was a pain and chased Nationwide directly to make sure they had the document. I don’t know whether it worked, but I didn’t have to wait as long as they told me. It’s either that or get your broker to push it with the BDM. To be honest, I think this is the underwriter now asking. As such, this probably is the final checks. If you get the stuff sent back ASAP, I bet you would have a decision with 3 or 4 days like I did. 

Our broker did say that it was the underwriter asking for it. 

Hopefully this letter from my mam will be enough as she’s written it and really emphasised that it’s not a gift, loan etc, she doesn’t want a penny of it back and won’t ever ask for it back because it’s my inheritance. Fingers crossed they’ll accept it. 

She’s sent it so hopefully I’ll get it tomorrow then I can scan it in and send it over! 

Then I think this is the final checks. I heard back on the 4th working day (first thing) after the document had been sent. They indicated to me that it still had to go for final checks. 

I work in the property sector in these circumstances lenders like the word unequivocal. I.e. I can unequivocally confirm this is an inheritance payment and not a loan or gift. There is no repayment plan in place and the funds are for your benefit as the share of your father’s estate.

If you have a conveyancer/solicitor they should be able to assist. I’d presume without a will you applied for Letters of Administration from the Courts? You wouldn’t have been able to sell the property without this unless your Mum was named on the Deeds as a joint tenant. If you can supply a copy of the Letters of Administration or ask the solicitor who acted in the sale to provide the Register of Title. The latter will show your mum automatically obtained your Dad’s share in the property and she was legally the sole owner and can distribute the funds as she wished or according to the rules of intestacy. I.e. Spouse gets half and then any remaining children get their share of half the estate.  

If worst comes to worst, couldn’t your Mum just say it’s gift and fill in the required declaration. At least this would satisfy them if you obtained a larger share of the estate than you were due under intestacy. 

That’s amazing information, thank you so much! 😊
We didn’t get the letters of administration solely because mam was still on the titled deeds as they never divorced and the agreement and wishes of both parties all along was in the event of either death the house would go to the 3 children, which is what’s happened. 

We didn’t go for probate either as dads estate was very straight forward so we dealt with it as a family. 

Looking back, we probably should have done now, but what’s done is done I guess. 

My mam has written a letter saying that the money has come directly from the sale of the house, it’s not a gift, loan etc and she doesn’t and will never seek the money back. 

At the moment Nationwide aren’t accepting gifted deposits on the 90% LTV. 

Hopefully they’ll accept it, if they don’t then our broker has already got a plan B in place or we can up the deposit to 15%😊

I’m just gutted it’s taken so long to get to this stage. 

mh_ww

Broker emailed to say that the report was with NW on the 9th but in their queue now for review, which is 7 working days or so at the minute. So charging towards 70 working days at this rate. Just lucky we've not had pushy vendors or been buying in to a chain etc.

CrescentHouse

How long would you say it takes for Nationwide to relook at applications after asking for further documents in the final check stage?

----

Nationwide FTB 89% LTV

14/10 - Application Submitted

20/10 - Valuation Booked

23/10 - Valuation Report Submitted

24/10 - Hard Checks

27/10 - Passed For Full Assessment Text

9/11 - Nationnwide Requested Further Documents

12/11 - Documents sent to MA and Submitted

emma_829

CrescentHouse said:

How long would you say it takes for Nationwide to relook at applications after asking for further documents in the final check stage?

----

Nationwide FTB 89% LTV

14/10 - Application Submitted

20/10 - Valuation Booked

23/10 - Valuation Report Submitted

24/10 - Hard Checks

27/10 - Passed For Full Assessment Text

9/11 - Nationnwide Requested Further Documents

12/11 - Documents sent to MA and Submitted

I got my offer on the 4th working day after submission. Text and email at 9.30am 

NHB2020

I’ve been following this great thread for a few days, thought I’d join in. 
Nationwide 85% LTV (Porting Existing and adding partner (FTB))

02/09 - Decision in Principle, Subjective Accept
26/10 - Offer Accepted on House 
07/11 - Application Submitted
11/11 - Valuation Instructed 
12/11 - Valuation Booked for 12/11

Not sure if this is quick, or slightly different to what others have experienced. No hard checks or additional information requested yet. 

Iomp1

11/11 application submitted 
25/11 valuation booked 

has anyone had issues with the property being undervalued by nationwide’s appointed surveyor recently? 

happyindebt

Adding my timeline:
Nationwide FTB 81% LTV - Porting - Self-employed - directly via Nationwide.
5/11 - Application Received.
6/11 - Desktop Valuation booked for the 10/11.
10/11 - Valuation report received - in review .

fingersallcrossed2020

We’re going into working day 35 tomorrow. For the love of god just tell us yes or no! 😫