Nationwide Mortgage

Tiddleshalifax

WeveBoothyx said:

To help put people at ease - I was really worried about our application.

Our application was for 93% LTV (95% Product) and I did not the greatest credit score with relatively large CC debt between me and my partner and both had dipped into our arranged overdrafts (which was shown on bank statements provided). We were also receiving a gift towards the deposit. Having read some experiences in here I felt sure we'd be rejected.

However, on the 12th working day after application we were offered the full amount we requested! So it can happen . The biggest thing going in our favour was our affordability - the amount we were requesting was below 3x our joint salaries and we were both full time employed not affected by COVID financially.

We are still waiting. Valuation was Friday but on Monday I was asked for a statement.

🤞🏻🤞🏻🤞🏻

hellosunshine17

Our valuation came back today for the grand old total of £0 - evidence of damp 😞 honestly I could cry 

Now we have to fork out another £200 for a full damp survey, on top of the £600 we're already paying for a building survey *sigh*

rosierunner

So happy for all of you who have their offers and really sorry for the people still waiting and going through trauma.  We are members of the latter category unfortunately.  We applied well over a month ago,  I have been a perfect mortgage customer for nationwide for about 20 years.  loan to value less that 9%, more than good income, we were told we could borrow 4 times what we applied for.   I'm an accountant and my partner is a chartered surveyor, our credit references are impeccable.   Everything went smoothly to start with but than totally crashed. We are at the stage of our chain collapsing as we had no mortgage offer so we chased with nationwide and were given short shrift.  They were infact rude.  today we find out that there was a technical glitch and our mortgage application had to be 'rekeyed' and we are back to square one with document verification and a second hard credit check.  We are absolutely disgusted to put it mildly, words can't describe what we are going through.  We are about to lose our dream house in the same village as my daughter who is pregnant with my first grandchild and houses don't come up for sale very often in the village.  Absolutely gutted and I sincerely hope this doesn't happen to anyone else

SingleSTB

rosierunner said:

So happy for all of you who have their offers and really sorry for the people still waiting and going through trauma.  We are members of the latter category unfortunately.  We applied well over a month ago,  I have been a perfect mortgage customer for nationwide for about 20 years.  loan to value less that 9%, more than good income, we were told we could borrow 4 times what we applied for.   I'm an accountant and my partner is a chartered surveyor, our credit references are impeccable.   Everything went smoothly to start with but than totally crashed. We are at the stage of our chain collapsing as we had no mortgage offer so we chased with nationwide and were given short shrift.  They were infact rude.  today we find out that there was a technical glitch and our mortgage application had to be 'rekeyed' and we are back to square one with document verification and a second hard credit check.  We are absolutely disgusted to put it mildly, words can't describe what we are going through.  We are about to lose our dream house in the same village as my daughter who is pregnant with my first grandchild and houses don't come up for sale very often in the village.  Absolutely gutted and I sincerely hope this doesn't happen to anyone else

I'm so sorry. Is that the same technical glitch a few people mentioned elsewhere in this thread - that delayed people's valuation dates coming through a few weeks/months back? Sounded like Nationwide told them about it, so it's totally out of order if you've only just learned about it now. Got everything crossed for you that your sale can be salvaged x

E_D_FTB

housebuyer21 said:

FTBs 85%LTV Thought id pop our timeline up for all....

12th May - DIP referred & Approved

14th May - Offer made £15k under asking - negotiations
15th May - Offer accepted £5k UA
17th May - DIP updated
25th May - full application submitted via Nationwide MA
1st Jun - Valuation booked 16th Jun
3rd Jun - Hard searches done
16th Jun - Valuation completed

16th Jun - Mortgage offer issued (within minutes of valuation report complete)

Wahooooo! Can't actually believe it!!

Been reading through the thread and thought I'd add our experience so far. FTB with my partner, both working full-time and applying for the Helping Hand mortgage with a 10% deposit. It's pretty similar to yours @housebuyer21.  Our timeline so far:

10th June - DIP submitted
11th June - DIP referred to underwrit
12th June - Viewed house, offer made and accepted
14th June - DIP accepted and full application submitted
16th June - Valuation booked for 18th
18th June - Valuation completed - received text and email confirming the report had been received by Nationwide for review.

We're going through a broker who has been sent all of our documents (pay slips, bank statements, proof of deposit including gifted deposit forms), so fingers crossed they should have all the documentation they could want! From the speed of the valuation, I'm assuming it was a desktop valuation.

Now we want and try not to get lost googling why mortgage offers are rejected after DIP accepted!

Tiddleshalifax

Hello!!

sorry to those that are still being messed around!!

after panicking - we’ve had our mortgage approved at 95% LTV! 

So here’s a quick run down:

25/5 - DIP reviewed and approved by underwriters (had to switch lender after offer as they withdrew product)
27/5 - full application in & survey booked for 11/6
3/6 & 14/6 - further info provided to bank as requested by broker 
17/6 - text to say valuation approved
18/6 - mortgage approved

my financial situation is good but difficult to follow so was expecting more queries! I’m very happy and wishing you all luck!!

we are home movers 

swanseajack91

Tiddleshalifax said:

Hello!!

sorry to those that are still being messed around!!

after panicking - we’ve had our mortgage approved at 95% LTV! 

So here’s a quick run down:

25/5 - DIP reviewed and approved by underwriters (had to switch lender after offer as they withdrew product)
27/5 - full application in & survey booked for 11/6
3/6 & 14/6 - further info provided to bank as requested by broker 
17/6 - text to say valuation approved
18/6 - mortgage approved

my financial situation is good but difficult to follow so was expecting more queries! I’m very happy and wishing you all luck!!

we are home movers 

Congrats, our valuation was down valued £1000 no reason given which seems ridiculous, managed to get vendor to drop £1000 so all good. MA said it has gone to underwriter now should hear back within a week!  Bit concerned why it’s gone to underwriters when most people seem to get an offer after the valuation but will have to wait and see.

Irmo

Does anyone know what the process is?

DIP
submit application
underwriting 
valuation
complete underwriting and produce offer?

or does the underwriting only happen after the valuation? Seems strange that they would want to decline at this stage based on information already available to them? Yep 

Tiddleshalifax

swanseajack91 said:

Tiddleshalifax said:

Hello!!

sorry to those that are still being messed around!!

after panicking - we’ve had our mortgage approved at 95% LTV! 

So here’s a quick run down:

25/5 - DIP reviewed and approved by underwriters (had to switch lender after offer as they withdrew product)
27/5 - full application in & survey booked for 11/6
3/6 & 14/6 - further info provided to bank as requested by broker 
17/6 - text to say valuation approved
18/6 - mortgage approved

my financial situation is good but difficult to follow so was expecting more queries! I’m very happy and wishing you all luck!!

we are home movers 

Congrats, our valuation was down valued £1000 no reason given which seems ridiculous, managed to get vendor to drop £1000 so all good. MA said it has gone to underwriter now should hear back within a week!  Bit concerned why it’s gone to underwriters when most people seem to get an offer after the valuation but will have to wait and see.

Thank you! From what I understand it’s normal
to have the underwrites look at it xx

rosierunner

SingleSTB said:

rosierunner said:

So happy for all of you who have their offers and really sorry for the people still waiting and going through trauma.  We are members of the latter category unfortunately.  We applied well over a month ago,  I have been a perfect mortgage customer for nationwide for about 20 years.  loan to value less that 9%, more than good income, we were told we could borrow 4 times what we applied for.   I'm an accountant and my partner is a chartered surveyor, our credit references are impeccable.   Everything went smoothly to start with but than totally crashed. We are at the stage of our chain collapsing as we had no mortgage offer so we chased with nationwide and were given short shrift.  They were infact rude.  today we find out that there was a technical glitch and our mortgage application had to be 'rekeyed' and we are back to square one with document verification and a second hard credit check.  We are absolutely disgusted to put it mildly, words can't describe what we are going through.  We are about to lose our dream house in the same village as my daughter who is pregnant with my first grandchild and houses don't come up for sale very often in the village.  Absolutely gutted and I sincerely hope this doesn't happen to anyone else

I'm so sorry. Is that the same technical glitch a few people mentioned elsewhere in this thread - that delayed people's valuation dates coming through a few weeks/months back? Sounded like Nationwide told them about it, so it's totally out of order if you've only just learned about it now. Got everything crossed for you that your sale can be salvaged x

Thankyou. No it wasn't that glitch.  The glitch was that we were 'porting' a current mortgage with them and there was a gap between selling the property and buying the new one.  The system just wiped our application off.  I did worry that this might be an issue but when I called they advised that I shouldn't worry as they were two completely separate transactions,  Thanks to the wonderful lady who works for nationwide and helped us find the right mortgage and helped us fill our application in (who seems to work 24/7! we now have our mortgage in time to complete by next week.  However we now have problems with the purchaser of our second property (we are a couple selling two properties and buying one together).  Fingers crossed it can be resolved in time to beat the stamp duty deadline next week.  It's certainly a roller coaster.  I hope that people in the same position with porting mortgages take heed of this issue but I expect it must happen all the time so puzzled why they don't sort their systems out at Nationwide.  I am still waiting to hear back re my formal complaint.  Good luck all!