Nationwide Mortgage

TheTruemans

Gutted! 
So just had a call this morning with our IMA and our application has been declined by the underwriter due to my wife’s ‘Financial Association’ with me (I have previous defaults 2017, and was on a DMP until October 2020) genuinely devastated!
IMA said there is nothing more they can do. 

Our next option is to go back to the Mortgage Broker that had arranged a joint mortgage for both of us and see if she can find a provider that’s not a high street lender for my wife’s application again! 

Is it ok to start drinking yet? 

BigSteveLondon

TheTruemans said:

Gutted! 
So just had a call this morning with our IMA and our application has been declined by the underwriter due to my wife’s ‘Financial Association’ with me (I have previous defaults 2017, and was on a DMP until October 2020) genuinely devastated!
IMA said there is nothing more they can do. 

Our next option is to go back to the Mortgage Broker that had arranged a joint mortgage for both of us and see if she can find a provider that’s not a high street lender for my wife’s application again! 

Is it ok to start drinking yet? 

So stressful. :-(
Definitely go back to your broker and ask what your next move can be without affecting your credit report.

julicorn

julicorn said:

I'm currently in the process of remortgaging to Nationwide We got our AIP on Friday last week, but had to send in a 12 month statement for our current mortgage, which I only managed to scan and email today. Will see what this whole process is like, I haven't changed lenders before.

We have our valuation booked in for Tuesday now (could have actually gotten an appointment earlier, but our flat is a bit of a mess right now so I thought might as well use the weekend to get into a slightly better shape!). I'm a bit surprised they even want an in person valuation, rather than just a desk one - mortgage amount is £112k, under 40% LTV, but hey, not really a problem. 

kkcoco

Hi all - I feel really quite bad posting this given a few have had a bad time of it above, but I've just had 'the texts'. Relieved doesn't even cover it. 
I found seeing other peoples timelines really helpful when I was waiting so I'll share mine - but want to point out to anyone who has just applied that everyone's timelines seem wildly different and in no set order (ie some people had valuations before hard checks, some the other way around, some are done in days, some drag on for seemingly no reason etc) so don't be too worried if mine looks different to where you are at.

05/05 - Viewed House (& fell in love)
06/05 - Formal Offer Made via EA
07/05 - Offer accepted / Solicitors instructed / Vendors removed house from market
08/05 - Full Application submitted at 79% LTV as FTB (had DIP previously so had a good grasp of budget) / Valuation Instructed
17/05 - Hard Credit Check done
19/05 - Called NW as still no valuation date - escalated via email to Countrywide
21/05 - Discovered I was one of the cases affected by the 'technical glitch' meaning no valuation had been booked, told these cases would be prioritised to get caught up
22/05 - Text to say valuation would take place on 25/05 (desktop)
26/05 - Text to say valuation would take place on 29/05 (had to do a physical valuation as no comparable property on street, confirmed was physical with EA)
29/05 - Text to say Valuation received - Literally 1 minute later another text to say Mortgage Offer Issued.
So whilst there were elements along the way that left me feeling really quite stressed, given the level of applications NW are receiving at the moment, it wasn't too bad in the end.

I am a long standing NW customer but I don't think this helps particularly in terms of time lines (as in I don't think there's any preferential treatment whatsoever). However I wasn't asked for any documentation, pay slips etc etc, but my savings accounts and current account are held with NW and my application was pretty straight forward (i.e. employed on permanent contract, not been furloughed, no gifted deposit element, was asking for less than the DIP suggested I could borrow, etc etc) so perhaps that helps as I'm assuming there is some level of understanding of your finances when you already bank with them.

Hope everyone else waiting gets some good news soon, and for those that haven't had good news I hope you can find a broker perhaps who will get you into your new home.

patinstoke

I called nationwide yesterday ( they're going to be sick of me soon 😁) as hadn't h received a text saying valuation had been returned. They confirmed the valuation had been received and is going through their 5 day assesment. Had the homebuyers report back as well yesterday and the value matches so 🤞 now. 

patinstoke

So we had the texts this morning valuation received, then valuation being reviews and finally offer issued all within one minute😁😁 it's taken a bit but we got there 👍

jen271090

Hi all
I have spent a lot of time trawling through this feed after experiencing the same painstaking waiting game with my Nationwide mortgage application. I have finally seen a resolution and had my mortgage offer this morning following EIGHT weeks of waiting! Thought I best do my bit and report my timeline for others who are going through something similar:
FIRST TIME BUYER WITH 85% LTV
DIP - 7 April
Offer accepted - 9 April
Full application 12 April
Requested payslips and ID - 12 April
Valuation booked - 4 May
Valuation-  2 June
Valuation report - 3 June
Mortgage offer - 3 June

catclaires

Ah, that's such great news for all those who've got their offers in the last few days what a relief for everyone! Despite the issues, I'm impressed that NW do at least seem to issue offers very soon after receiving valuations.

We finally (after applying on 8 May and getting caught up in the IT issue of valuations not being automatically instructed) had The Valuation Text on Tuesday and have the valuation scheduled for tomorrow - fingers crossed! The online tracker says it is scheduled for 6am, so I assumed it was desktop, but the EA confirmed that it was in fact a physical visit and is (unsurprisingly) not at 6am

Sorry to hear about those who got declined - I really hope you both have some better (and quick) luck elsewhere!

kkcoco

patinstoke said:

So we had the texts this morning valuation received, then valuation being reviews and finally offer issued all within one minute😁😁 it's taken a bit but we got there 👍

Great news, after I got my good news I was thinking of you and others who ended up in the same boat hoping you would get a positive outcome soon

kkcoco

Fingers crossed for you @catclaires - its a horrible wait post valuation running all the crazy scenarios in your head (or perhaps that's just me lol) but I was surprised that I got my text on the Saturday of the BH weekend, was expecting to have to wait until Tues/Wed at the earliest so they are really quick. I get the impression if the valuation comes in at the correct value and there's nothing flagged, the underwriting etc looks good etc then its potentially even computer generated.