Nationwide Mortgage

mh_ww

Is anyone who was recently issued an offer able to say how long roughly it took to come through?

JKP1245

mh_ww said:

Is anyone who was recently issued an offer able to say how long roughly it took to come through?

Our offer was issued on 23rd and paperwork came in the post on 29th, I was of the assumption we had things to sign but it wasn't the case. Solicitor also received a copy of the paperwork and we then had to sign mortgage deed and return.

mshepp

Mortgage with underwriter since the 22nd December, had an email today saying mortgage declined. Going to go through the appeal process. I feel like rather than query anything they have gone for a straight decline. 

Mgars93

mshepp said:

Mortgage with underwriter since the 22nd December, had an email today saying mortgage declined. Going to go through the appeal process. I feel like rather than query anything they have gone for a straight decline. 

Sorry to hear. What product & LTV did you go for, and have they provided a reason for decline?

mh_ww

JKP1245 said:

mh_ww said:

Is anyone who was recently issued an offer able to say how long roughly it took to come through?

Our offer was issued on 23rd and paperwork came in the post on 29th, I was of the assumption we had things to sign but it wasn't the case. Solicitor also received a copy of the paperwork and we then had to sign mortgage deed and return.

Thanks - it ended up coming today whilst I was in work 

mshepp

Mgars93 said:

mshepp said:

Mortgage with underwriter since the 22nd December, had an email today saying mortgage declined. Going to go through the appeal process. I feel like rather than query anything they have gone for a straight decline. 

Sorry to hear. What product & LTV did you go for, and have they provided a reason for decline?

It was a 5 year deal at 1.44% and our LTV was around 47%. When I phoned them up to question why we were declined it was apparently due to an "appetite" for credit. We have recently just cleared our credit card and loan debts with the only thing remaining our car on PCP.  I'm a bit shocked because although we are self employed we earn healthy amount and this isn't set to change anytime soon.

It's been a while since we applied, in November, and we paid the product fee upfront. If our appeal is unsuccessful will we receive the product fee back? I'm sure I read before that we do but typically I can't find that info now. 

JRSKR

Been reading this forum from beginning to end whilst waiting for my account to be approved. 

Happy to show our “journey” with Nationwide as and when it all happens. 

We’re both TERRIBLE at waiting and both worry to the point of obsession....so this is all gonna be fun!! 

First time buyers

We’ve applied online directly 

We bank with Nationwide (current account and savings) 

So far: 

07/01 - D.I.P. approved 

07/01 - Soft search 

07/01 - Offer accepted. Property removed from market

07/01 - Mortgage application submitted

07/01 - OH payslip and proof of deposit requested and sent

07/01 - Documents marked as received

08/01 - Text to say valuation booked for 14th

08/01 - Hard credit check for both of us (Experian and Transunion)

Further details: 

LTV - 90%

Both have “good” credit scores. 

Both employed full time and OH also has own business. 

We’ll be borrowing 1.75 x our annual combined salaries

Credit card paid off yesterday 

No missed payments or CCJs etc 

House we’re hoping to buy is one of only two 3-bed properties in the street 

Other 3-bed sold 5 years ago for £130,000

We’re buying this one for £146,500

JRSKR

Update from today:

07/01 - D.I.P. approved 

07/01 - Soft search 

07/01 - Offer accepted. Property removed from market

07/01 - Mortgage application submitted

07/01 - OH payslip and proof of deposit requested and sent

07/01 - Documents marked as received

08/01 - Text to say valuation booked for 14th

08/01 - Hard credit check for both of us (Experian and Transunion)

*11/01 - documents submitted on 07/01 both marked as “satisfactory” 

ceed95

A very quick turnaround.
DIP - 10th Dec - accept

Mortgage application submitted on 10th Dec

Valuation booked in for 12th Dec and received by nationwide same day.
Mortgage offer on 13th Dec

So 3 working days 🙂

ceed95

ceed95 said:

A very quick turnaround.
DIP - 10th Dec - accept

Mortgage application submitted on 10th Dec

Valuation booked in for 12th Dec and received by nationwide same day.
Mortgage offer on 13th Dec

So 3 working days 🙂

January, not December!