Nationwide Mortgage

GN2020

After all the faff with NW querying the deposit and whether it’s inheritance or a gift etc, my Mam wrote them a letter explaining where it came from ie from my late dads estate. 

They got the letter on Thursday and I got a text and email this morning to say the valuation has been booked in for 18th November. 

We’re pretty much on week 9 now so I’m hoping beyond all hope that the underwriting has been done now that the valuation has been booked in. 

I asked our broker if it meant they’d accepted the letter, he said he wasn’t certain at the moment until he can check on Monday but he’s taking it as a positive sign. 

I’m trying not to get too excited but I’m taking it as a good sign as if they hadn’t accepted the application surely they wouldn’t move to the valuation.
We’re FTB on the 90% LTV. 

mh_ww

GN2020 said:

After all the faff with NW querying the deposit and whether it’s inheritance or a gift etc, my Mam wrote them a letter explaining where it came from ie from my late dads estate. 

They got the letter on Thursday and I got a text and email this morning to say the valuation has been booked in for 18th November. 

We’re pretty much on week 9 now so I’m hoping beyond all hope that the underwriting has been done now that the valuation has been booked in. 

I asked our broker if it meant they’d accepted the letter, he said he wasn’t certain at the moment until he can check on Monday but he’s taking it as a positive sign. 

I’m trying not to get too excited but I’m taking it as a good sign as if they hadn’t accepted the application surely they wouldn’t move to the valuation.
We’re FTB on the 90% LTV. 

Our valuation was only booked after we were passed for assessment and that was 2 months in so it seems likely that they're happy hence they've booked it. Hopefully all goes well.

fingersallcrossed2020

GN2020 said:

fingersallcrossed2020 said:

So our valuation was down valued! £20k less than our agreed price. So now at loss what to do? So angry that we are only hearing this now when the valuation took place Oct 1st!!! 

Oh my god, I’m so sorry!! Will the vendors budge at all? I’m just thinking that another surveyor could likely value it at the same price so even another buyer could run into the same problem! 

Has the homebuyers survey come back with anything that will give you some wiggle room? 

My broker has requested the valuation report. This whole process has given me so much stress, all the waiting and now this.  We will wait and see what the seller has to say but my husband isn’t keen on getting another lender as he semi-agrees with valuation. So depending on what the seller says we might have to say goodbye to this house. 

fingersallcrossed2020

GN2020 said:

After all the faff with NW querying the deposit and whether it’s inheritance or a gift etc, my Mam wrote them a letter explaining where it came from ie from my late dads estate. 

They got the letter on Thursday and I got a text and email this morning to say the valuation has been booked in for 18th November.  

Ah fab, fingers crossed you get your offer next week 

JKP1245

Been reading through this thread and seem to be at a loss to what is happening with our application. FTB and 90% mortgage, appplication submitted via  MA on 30/10 (we opted to go for a homebuyers survey too and paid an additional £275 to NW) text and email from NW on 31/10 confirming application received. MA advised application was with underwriter early last week, had a notification about a hard credit check on my clear score app on 13/11 which happened 11/11, but have had no communication about valuation / homebuyers. Last night my partner noticed the £275 has been returned to his bank account on 13/11 and will clear on 16/11, we haven't received any comms from MA or NW, completely at a loss and expecting the worst right now, very stressed and probably won't be able to get hold of MA until Monday.

emma_829

JKP1245 said:

Been reading through this thread no and seem to be at a loss to what is happening with our application. FTB and 90% mortgage, appplication submitted via  MA on 30/10 (we opted to go for a homebuyers survey too and paid an additional £275 to NW) text and email from NW on 31/10 confirming application received. MA advised application was with underwriter early last week, had a notification about a hard credit check on my clear score app on 13/11 which happened 11/11, but have had no communication about valuation / homebuyers. Last night my partner noticed the £275 has been returned to his bank account on 13/11 and will clear on 16/11, we haven't received any comms from MA or NW, completely at a loss and expecting the worst right now, very stressed and probably won't be able to get hold of MA until Monday.

If you’re really concerned you can used the Nationwide chat. They might be able to advise. 

JKP1245

emma_829 said:

JKP1245 said:

Been reading through this thread no and seem to be at a loss to what is happening with our application. FTB and 90% mortgage, appplication submitted via  MA on 30/10 (we opted to go for a homebuyers survey too and paid an additional £275 to NW) text and email from NW on 31/10 confirming application received. MA advised application was with underwriter early last week, had a notification about a hard credit check on my clear score app on 13/11 which happened 11/11, but have had no communication about valuation / homebuyers. Last night my partner noticed the £275 has been returned to his bank account on 13/11 and will clear on 16/11, we haven't received any comms from MA or NW, completely at a loss and expecting the worst right now, very stressed and probably won't be able to get hold of MA until Monday.

If you’re really concerned you can used the Nationwide chat. They might be able to advise. 

We have contacted MA this morning and left a voicemail hopefully will prompt them to check in the morning and let us know. I have tried to speak to nationwide via chat too and was advised that I would need to speak to the mortgage team who work Monday to Friday and that they couldn't help me any further.

GN2020

mh_ww said:

GN2020 said:

After all the faff with NW querying the deposit and whether it’s inheritance or a gift etc, my Mam wrote them a letter explaining where it came from ie from my late dads estate. 

They got the letter on Thursday and I got a text and email this morning to say the valuation has been booked in for 18th November. 

We’re pretty much on week 9 now so I’m hoping beyond all hope that the underwriting has been done now that the valuation has been booked in. 

I asked our broker if it meant they’d accepted the letter, he said he wasn’t certain at the moment until he can check on Monday but he’s taking it as a positive sign. 

I’m trying not to get too excited but I’m taking it as a good sign as if they hadn’t accepted the application surely they wouldn’t move to the valuation.
We’re FTB on the 90% LTV. 

Our valuation was only booked after we were passed for assessment and that was 2 months in so it seems likely that they're happy hence they've booked it. Hopefully all goes well.

I’m keeping everything crossed that the underwriting has all been done! 

The valuation is the one bit I’m not worried about. Watch it all go wrong now though 🤣🤣

GN2020

fingersallcrossed2020 said:

GN2020 said:

fingersallcrossed2020 said:

So our valuation was down valued! £20k less than our agreed price. So now at loss what to do? So angry that we are only hearing this now when the valuation took place Oct 1st!!! 

Oh my god, I’m so sorry!! Will the vendors budge at all? I’m just thinking that another surveyor could likely value it at the same price so even another buyer could run into the same problem! 

Has the homebuyers survey come back with anything that will give you some wiggle room? 

My broker has requested the valuation report. This whole process has given me so much stress, all the waiting and now this.  We will wait and see what the seller has to say but my husband isn’t keen on getting another lender as he semi-agrees with valuation. So depending on what the seller says we might have to say goodbye to this house. 

Hopefully either there’s something on the survey which means you can negotiate on the price, or the sellers will budge. Even if they don’t, surely they’ll come up with the same issue with another buyer and another valuation. 

I really hope this all gets sorted for you. I’ll keep everything crossed for you xx

lemliss

Just dropping in to tell you guys don't be afraid to chase NW directly. My mortgage got accepted in July on Friday my broker ranf and said they had had a text saying DIP referred and was confused, when she called the address on the land registry was in a different format to what was there originally, so it had to be re-ran. She said when they reran the DIP i actually failed (I was in an arrangement to pay my credit card for 2 months then cleared it all and closed it when my partners inheritance came in). Because I live in the property I am buying when they credit checked the wrong address it didn't show. She advised it would take 7 working days for a review. At this point because we got the accept in July we have paid our solicitors and were looking to complete early December. I called Nationwide direct and almost cried down the phone. Advisor said they would try and help. An hour later my broker rang and said decision had been overturned and had been accepted - now she denies she sent the wrong address and believes NW were at fault which tallies with a broker from this forum who I've spoken too views, as its unusual for them to overturn a decision once made. 
Feeling hugely lucky- very aware this could have fallen  through and buggered us.