Nationwide Mortgage

MiamiHeat90

Wife and I applied for a 90% FTB mortgage. Although some concerns over my 3m bank statements, we decided to apply anyway due to finding dream home.

The decision in principle was deferred pending us providing all documentation including statements. This has since been approved. I assume that doesn't give any indication of whether the actual underwriting will be approved? We are fine in terms of affordability, I just suspect my statements will cause rejection of the application. 

Any advice would be great?

mshepp

Our DIP was approved, submitted all documents, had valuation, hard searches and now Nationwide have asked for all the documents again. Surprised they are asking again now after the application has progressed so much.

Interestingly the email asking for further documentation went in mine and my wife’s junk folder and we only happened upon it by chance. 

Jas_cur

So I wanted to join in with our time line. We are buying a new property and porting our current mortgage and borrowing more. Applied yesterday and went straight to referral. Is this worrying? The broker thinks it's because we switched, let our first payment come out and then apply for the port the next day (under his advice). AIG in November passed in November with no issues.

happyindebt

Our mortgage offer was issued today, what a relief! We are self-employed, with quite a bit of debt, and our affordability was less than the amount we were porting - but we still got it and I'm over the moon. Details on timescales below.
Good luck to everyone else who's waiting and thank you to all who have kept me company during this ride.

Jas_cur

happyindebt said:

Our mortgage offer was issued today, what a relief! We are self-employed, with quite a bit of debt, and our affordability was less than the amount we were porting - but we still got it and I'm over the moon. Details on timescales below.
Good luck to everyone else who's waiting and thank you to all who have kept me company during this ride.

That's a great timeline. I hope we are as lucky! Congratulations! 

mh_ww

Emailed broker asking for an update. Been two weeks since they amended our loan requirements and haven't heard a thing since. I anticipated that they will need updated proof of deposit but this hasn't been asked for yet, and I'll be hacked off if I'm told it's needed and it's another 1, 2 whatever weeks for it to be reviewed. I really appreciate the delays in the market but it's coming up 4 months since our application went in and it's not been complex etc apart from alterations after the valuation.

NHB2020

happyindebt said:

Our mortgage offer was issued today, what a relief! We are self-employed, with quite a bit of debt, and our affordability was less than the amount we were porting - but we still got it and I'm over the moon. Details on timescales below.
Good luck to everyone else who's waiting and thank you to all who have kept me company during this ride.

Congratulations 🎉🎉🎉

Shoppadolley

Hi all!
Been watching for a while and just wanted to add that we got our mortgage offer today, on the 10th working day. Application was late on the 18th, hard credit score the 27th and offer at 06.30 this morning straight after valuation report was back.

Sadly our buyer has had to apply with accord after being declined by nationwide. They are buying our flat on a a buy to let mortgage and nationwide didn’t like the fact it was a private sale and not through estate agents.
So the mortgage wait continues for us it seems.

Good luck to you all!

happyindebt

mh_ww said:

Emailed broker asking for an update. Been two weeks since they amended our loan requirements and haven't heard a thing since. I anticipated that they will need updated proof of deposit but this hasn't been asked for yet, and I'll be hacked off if I'm told it's needed and it's another 1, 2 whatever weeks for it to be reviewed. I really appreciate the delays in the market but it's coming up 4 months since our application went in and it's not been complex etc apart from alterations after the valuation.

Have you tried calling Nationwide directly? Their number is 03457 30 20 11. This way it might be quicker to find out what's going on.

GingerNut1234

Hi all,
Been following a while but wanted to post our timescale for others.

We are FTB 80% LTV.  OH changing jobs and a bit of debt between us. No bankruptcy, missed payments etc. And went through a broker.

13th November - full application submitted
23rd November - hard search completed (Credit Karma) 
24th November - valuation instructed. 
26th November - valuation completed. 
1st December- text to say valuation received at 1745. 
1st December - mortgage offer text at 1747.

We are now waiting for completion as its a new build we are buying. Solicitor is currently working to completion.

Good luck everyone!!