Nationwide Mortgage

AHT2020

Hi, I thought I would join the waiting room!

Nationwide 70% LTV- Porting existing mortgage (reducing by £150k) 
Took a payment holiday earlier this year due to being on maternity leave (chose to do this instead of returning to work during lockdown due to having a public facing key worker role and a child with a health condition) so not expecting a smooth ride!

22/10 - Decision in Principle, refer
23/10- Decision in Principle, subjective accept
04/11- Full application submitted
06/11- Message confirming application received
07/11- Valuation booked for 09/11
09/11- Valuation completed
09/11- Message confirming valuation report received and awaiting review

john_s_m

Hi thought I would add my timeline after reading all these,

Nationwide 85% LTV FTB.

31/10 - Application received text
10/11 - Valuation report received
10/11 - Mortgage offer text

So 7 working days between application received and mortgage offer text.

NHB2020

john_s_m said:

Hi thought I would add my timeline after reading all these,

Nationwide 85% LTV FTB.

31/10 - Application received text
10/11 - Valuation report received
10/11 - Mortgage offer text

So 7 working days between application received and mortgage offer text.

That's brilliant. Our valuation was done yesterday at 8.15, the online tracker isn't showing any new updates since. How long was it between your valuation being down and the report being received? 
We're on WD 6

john_s_m

NHB2020 said:

john_s_m said:

Hi thought I would add my timeline after reading all these,

Nationwide 85% LTV FTB.

31/10 - Application received text
10/11 - Valuation report received
10/11 - Mortgage offer text

So 7 working days between application received and mortgage offer text.

That's brilliant. Our valuation was done yesterday at 8.15, the online tracker isn't showing any new updates since. How long was it between your valuation being down and the report being received? 
We're on WD 6

We went through a broker so I never saw the online tracker. The valuation report was received the day it was done. I am not sure whether it was just a desktop valuation or someone had to physically go to the property.

AHT2020

john_s_m said:

Hi thought I would add my timeline after reading all these,

Nationwide 85% LTV FTB.

31/10 - Application received text
10/11 - Valuation report received
10/11 - Mortgage offer text

So 7 working days between application received and mortgage offer text.

That’s great, congrats!

happyindebt

john_s_m said:

Hi thought I would add my timeline after reading all these,

Nationwide 85% LTV FTB.

31/10 - Application received text
10/11 - Valuation report received
10/11 - Mortgage offer text

So 7 working days between application received and mortgage offer text.

Wow, impressive! Mind sharing what broker you used?

NHB2020

john_s_m said:

NHB2020 said:

john_s_m said:

Hi thought I would add my timeline after reading all these,

Nationwide 85% LTV FTB.

31/10 - Application received text
10/11 - Valuation report received
10/11 - Mortgage offer text

So 7 working days between application received and mortgage offer text.

That's brilliant. Our valuation was done yesterday at 8.15, the online tracker isn't showing any new updates since. How long was it between your valuation being down and the report being received? 
We're on WD 6

We went through a broker so I never saw the online tracker. The valuation report was received the day it was done. I am not sure whether it was just a desktop valuation or someone had to physically go to the property.

Fair enough, have a feeling that I won't be as lucky. Valuation reported isn't showing as received yet. Not sure much will happen at 15.30 on a Friday afternoon!

john_s_m

happyindebt said:

Wow, impressive! Mind sharing what broker you used?

We used Sequence

Suseka97

So, we finally got our mortgage offer today and I thought I'd add my timeline to the list... 
Porting existing mortgage, no extra borrowing, no change to mortgage terms - LTV 26%

24 August DIP declined
24 August DIP referred
25 August DIP 'subjective accept'
03 October offer accepted
20 October application submitted
26 October application received
28 October valuation booked for 25 November
04 November hard search (Credit Karma)
12 November valuation rescheduled to 13 November
13 November valuation report received
13 November mortgage offer issued.... Phew!

I think the DIP was originally declined because although we'd paid off all our credit accounts about 3-weeks beforehand, they were still showing up on our credit files.  We had also just taken early retirement and so our incomes had reduced, so I wasn't sure if there was also an affordability issue, even though we had quite a low LTV.  We had to send proof of income (pensions) and evidence we'd paid off all the credit accounts to the underwriter and the DIP was then approved.

Weeks later when the full application was submitted we were on the phone to the MA for hours and we effectively had to redo the entire thing.  The MA explained that due to the original decline he needed the underwriter to change whatever the status on the system was showing, so that the mortgage application could be submitted through the standard application route.  That's why it took the 6 days from application submission to application received.  It was obviously worth the wait because pretty much as soon as the valuation report was returned the mortgage offer was approved.

Now we just need to find somewhere to rent... the next hurdle!  House sale close to completion, but onward purchase is a good 2-3 months off and the chain is getting tetchy.

Mishelski

13.11 DIP Accepted
13.11 Application Submitted and text received
13.11 MA advised valuation has been instructed but no date set yet. 

Does this mean my mortgage is likely to be accepted? Just wondering as they have instructed the valuation which I'd have thought they wouldn't do unless they were happy, but they've instructed it the same day the application was submitted so that seams fast.