Nationwide Mortgage

NewLeaf1986

TheTruemans said:

mrebeccam93 said:

We’ve now got our valuation booked for this Friday and the hard search was completed yesterday. Fingers crossed we hear fairly soon after valuation! 

Has anyone else here applied for help to buy alongside the mortgage? I’ve looked at our help to buy tracker today and seen our MA hasn’t sent our application for that off even though the mortgage application is progressing and I’m worried this could cause us some hold up! 

This is my updated timeline. 

22/04/2021 - received DIP

28/04/2021 - viewed house

30/04/2021 - offer accepted 

03/05/2021 - officially ‘reserved’ plot

08/05/2021 - mortgage application 

08/05/2021 - rejected gift letter 

12/05/2021 - resent gift letter

13/05/2021 - valuation booked for 21/05

19/05/2021 - hard searches completed 

Hey quick question, how do you find out when you’ve been hard searched? Didn’t think credit reference agencies update that quickly? 

Thanks 

Hard searches appear on one's credit file immediately, and can be viewed by you or I the next working day if we obtain a fresh copy of our credit file from Equifax, TransUnion or Experian. 

They appear in real-time for lenders, so if someone goes on an "application spree" lenders can see exactly what's happening and reject an application if they see a multitude of applications in a short timeframe. 

kkcoco

Hello everyone, new here and thought I'd join the waiting party!
@catclaires I wonder if this is a standard comment (although I hope not!). Not that I want to take the shine off, but I called today after no update on my case re valuation and was told 'your case has come to a complete halt here, because of the valuation not being booked, it should have been booked by Monday (6 day turnaround as you mentioned) so I'll email them whilst you are on the phone. Shame really as everything else has been completed really quickly'. Could hear the email being typed and a note was added that this was done to the case file.
According to the chap I spoke with, Countrywide are behind on their emails at the moment and are taking roughly two days to respond so I should expect them to respond/post an update by Friday.
So seems like we have had strikingly similar conversations!

LostIt_ToBostik

For the new folks here wondering about valuations...
We applied on April 14th, valuation was not carried out until May 6th. There was then a Post Valuation Query re structure (very old house). We had a full building survey which we were happy with prior to the valuation.
We received our offer on Monday May 17th - so all in just shy of 5 weeks.

mrebeccam93

TheTruemans said:

mrebeccam93 said:

We’ve now got our valuation booked for this Friday and the hard search was completed yesterday. Fingers crossed we hear fairly soon after valuation! 

Has anyone else here applied for help to buy alongside the mortgage? I’ve looked at our help to buy tracker today and seen our MA hasn’t sent our application for that off even though the mortgage application is progressing and I’m worried this could cause us some hold up! 

This is my updated timeline. 

22/04/2021 - received DIP

28/04/2021 - viewed house

30/04/2021 - offer accepted 

03/05/2021 - officially ‘reserved’ plot

08/05/2021 - mortgage application 

08/05/2021 - rejected gift letter 

12/05/2021 - resent gift letter

13/05/2021 - valuation booked for 21/05

19/05/2021 - hard searches completed 

Hey quick question, how do you find out when you’ve been hard searched? Didn’t think credit reference agencies update that quickly? 

Thanks 

Hey, 
As @NewLeaf1986 said, they appear right away. I use a free service called CreditKarma for my credit score, which I believe is TransUnion and they sent me an email telling me a search had appeared on my report, when I looked it said it was Nationwide. 

kkcoco

LostIt_ToBostik said:

For the new folks here wondering about valuations...
We applied on April 14th, valuation was not carried out until May 6th. There was then a Post Valuation Query re structure (very old house). We had a full building survey which we were happy with prior to the valuation.
We received our offer on Monday May 17th - so all in just shy of 5 weeks.

Thanks Lostit - Just out of interest did you have any issues with valuation via NW usual surveyors, Countrywide. The reviews are terrible for down valuation so I'm having a little panic this afternoon!

catclaires

@kkcoco, very similar indeed - hmmm! Let's see if we both hear something by Friday, then - I'm tempted to phone again if I don't hear anything by late afternoon! If only they weren't using Countrywide, who do seem very slow right now - it's not good for the nerves (my buyers' lender is also using them, and when I got a phone call from them to book the valuation of my current property, the next available date they had was more than 2 weeks away). I did check Credit Karma and noticed that a hard search was done by NW yesterday, which was interesting - feels like another small hurdle out the way...

@LostIt_ToBostik, thanks for your timeline - that's all good to know!

kkcoco

@catclaires Similar - Hard check was completed for me on Monday. I'm worrying re Countrywide too tbh as they have such a poor reputation and the property I'm purchasing doesn't have any real comparable property nearby. Sure it will be fine, I wasnt really expecting an offer to be made in less than the current service time anyway (although we all live in hope!). My friend is doing my conveyancing and warned me that patience would be required as even though no chain on either side, I'll be in for a very annoying wait, especially in these earlier stages.

catclaires

@kkcoco patience would be a fine thing I seem to have absolutely none of it - definitely less than with previous sales/purchases, and it seems it's needed more than ever in the current climate! I think you're right, and we're in for a tedious wait. I'm also worried about under valuation, although probably more so for our sale than our purchase - a house opposite ours sold for a very similar price to ours and completed in early February, and I was hoping it'd be listed on the Land Registry site by now, but there's no sign of it yet even though others in the area that completed much later in the month have appeared. It's not good if Countrywide have a bad reputation on that front - let's keep our fingers firmly crossed! I'm sure I saw someone on another thread saying that they worked for a lender and that down valuations didn't happen nearly as often as people thought, so I'm clinging on to that!

kkcoco

@catclaires I think there was a big uptick in them last year when people were going nuts with best and finals and so on. The friend who is doing my conveyancing advised me months ago to not get carried away with over bidding, making sure I did due diligence on value for the area etc and not going above a set value in mind as she had a lot of cases on her desk that were being held up to down valuations and people needing to renegotiate. Sure it will be fine for us both! 
Am looking forward to seeing more 'Yippee, I've got my offer' on here in the coming days and weeks

SoloFTB24

Hi everyone been glued to this thread since starting my mortgage process got my offer yesterday and thought it only right I  share my timeline 


DIP - 05/05
full application - 07/05
valuation booked - 10/05 for the 19/05 

request for ID - 13/ 05 submitted same day 
19/05 - valuation done and ID verified 

19/05 - mortgage offer received with all terms and conditions I wanted. 

- 8 working days in total