Nationwide Mortgage

Anya86

NHB2020 said:

Anya86 said:

Right, so this morning I’ve convinced myself that we are going to be rejected because of over draft use and that our house will be down valued! I really need to stop reading the rejection stories!  I’m driving myself crazy 😩😩😩😩

I've convinced myself of the same. Although, its more because 5 years ago I had adverse credit - however my credit score and behaviour over the last 4 years has been great. Stressed doesn't even cover it! 

The wait makes you question everything 😩
I’ll keep my fingers crossed for you! 🤞🏻🤞🏻🤞🏻

Anya86

ShannonEliseHall said:

Hello so my timeline so far:
FTB
75% LTV
Application submitted 12/11/20
Text received to say the received application 13/11/20
Text to say valuation is booked for the 27/11.  20/11/20
24/11/20 MB messaged to say passed credit checks passed its the underwriters checking now and hoping for a offer by end of the month.

I don't want to get my hope up yet just incase the underwriters find something wrong, do all applications go to underwriters? Or have they found something and this is why it's gone this way 

It’s my understanding that all FTB 85% ltv or above and self employed are currently being manually underwritten 🤞🏻☺️

ShannonEliseHall

Anya86 said:

ShannonEliseHall said:

Hello so my timeline so far:
FTB
75% LTV
Application submitted 12/11/20
Text received to say the received application 13/11/20
Text to say valuation is booked for the 27/11.  20/11/20
24/11/20 MB messaged to say passed credit checks passed its the underwriters checking now and hoping for a offer by end of the month.

I don't want to get my hope up yet just incase the underwriters find something wrong, do all applications go to underwriters? Or have they found something and this is why it's gone this way 

It’s my understanding that all FTB 85% ltv or above and self employed are currently being manually underwritten 🤞🏻☺️

Thank you! So it is normal, I can stop panicking... A little 🙈

keepthefaith2021

Hi @ ShannonEliseHall 
Hi there, yes correct, Underwriting is mandatory (unless you know people in very high places 😉) 
However I wouldn't worry at all, if everything was declared at application stage and you passed credit scoring its down to Valuation,  after valuation it is pretty smooth sailing,  I am also FTB with Nationwide and it was quite stressful initially but App to Offer 19 Working days (it's the weekends that killed me) 
Hope it helped a little x

NHB2020

keepthefaith2021 said:

Hi @ ShannonEliseHall 
Hi there, yes correct, Underwriting is mandatory (unless you know people in very high places 😉) 
However I wouldn't worry at all, if everything was declared at application stage and you passed credit scoring its down to Valuation,  after valuation it is pretty smooth sailing,  I am also FTB with Nationwide and it was quite stressful initially but App to Offer 19 Working days (it's the weekends that killed me) 
Hope it helped a little x

Possibly a stupid question, but how do you know if you've passed credit scoring? 

emma_829

NHB2020 said:

keepthefaith2021 said:

Hi @ ShannonEliseHall 
Hi there, yes correct, Underwriting is mandatory (unless you know people in very high places 😉) 
However I wouldn't worry at all, if everything was declared at application stage and you passed credit scoring its down to Valuation,  after valuation it is pretty smooth sailing,  I am also FTB with Nationwide and it was quite stressful initially but App to Offer 19 Working days (it's the weekends that killed me) 
Hope it helped a little x

Possibly a stupid question, but how do you know if you've passed credit scoring? 

I may be wrong, but I think I read someone that the credit scoring is done at the point of DIP. I think I read that on the intermediary section. I presume they do another credit score if anything else comes to their attention from your paperwork/application which doesn’t match the DIP information submitted. 

keepthefaith2021

@NHB2020

Can you see a hard search on your credit report? If you can see it and valuation is booked and/or already been done then your over the line in my experience, not long for offer.

ShannonEliseHall

keepthefaith2021 said:

Hi @ ShannonEliseHall 
Hi there, yes correct, Underwriting is mandatory (unless you know people in very high places 😉) 
However I wouldn't worry at all, if everything was declared at application stage and you passed credit scoring its down to Valuation,  after valuation it is pretty smooth sailing,  I am also FTB with Nationwide and it was quite stressful initially but App to Offer 19 Working days (it's the weekends that killed me) 
Hope it helped a little x

I wish I knew people in high places, I find the not knowing so stressful 🤦‍♀️
I hope mines as fast as yours, I'm still only on working day 8! Mines weekends too and at night I start to Google decline stories and make myself even more stressed 😂

Mishelski

Waiting is the worst!! 

I have my valuation booked for Thursday but I noticed hard checks two days in a row!! No idea why they performed the hard search twice. Once on the 22nd and once on the 23rd. It's making me very nervous. I've convinced my self its going to be down valued as that's what happened to the first property I reserved (similar house, this one is 7k cheaper at £205k, identical layouts, next town over but different builders) 
If it doesn't get downvalued, I'd imagine they will come back and offer me a smaller loan size based on affordability. I'm a single applicant using HTB 

NHB2020

keepthefaith2021 said:

@NHB2020

Can you see a hard search on your credit report? If you can see it and valuation is booked and/or already been done then your over the line in my experience, not long for offer.

Yep, we've had our valuation and the hard search was done on 16/11. 
Wasn't sure if they reviewed the credit check later and made a decision at the underwriting stage.