Nationwide Mortgage

TVR2

hkd1994 said:

Just had a call from the Estate Agent to let me know the seller's mortgage has now been approved and they have a target date in mind... He was very nice and by no means pushy but... I thought I was on the edge earlier, it's even worse now!

Any good estate agent will try to keep wheels moving by applying gentle pressure consistently to all parties. If your vendor has their mortgage approved, they want to get moving as quickly as possible and the last thing that will achieve that is by collapsing the chain. They will wait for you

JAM0915 said:
Has anyone had further documents required? If so, what was requested (if you don’t mind saying) & at what stage? 

Our application went in 19th August, got the valuation booked for this Friday. 

We provided proof of deposit & latest payslip as requested when the application went in, just wondering if you think we can expect to hear about the mortgage after the valuation or if they will do the valuation then expect them to ask for more docs? 

Thanks so much! Hate waiting  

We have our mortgage application appointment next Tuesday and have been asked for proof of deposit, proof of buildings insurance on current property, and latest payslip for my partner (who isn't currently on the mortgage), but not me. In the interests of speeding things up, I've asked if they want our current account statements as I'm sure that's a standard request. We shall see what they say...

Moneybear

My valuation has now taken place. I spoke to the mortgage team earlier and they quoted a 10 working day timescale for the valuation report to be returned to them    Then currently 6 days to assess.... 
After my last property being downvalued I am very worried about this one. They keep assuring me I will receive text messages but the team that did my valuation don't send them apparently. 

JAM0915

So like another three working weeks for your valuation to come back! That’s soo long. 

Hope it comes back sooner for you, ours is being done Friday so I’ll update here when I know more  

JCarmello

Just to help you folks with timelines, we had a physical valuation on 24/08. They text to say they received the report at 6pm that day. They text the next afternoon to say that they had issued their mortgage offer. This was two weeks ago.

Back in June, we had a valuation (unsure if desktop or physical) on 17/6. Text to say that they received the report at 10.30am on 18/6, and a text at 10.32am that same day to say that they had issued the mortgage offer.

They did tell me that the average time is something like 22 days from appointment to offer, but we were certainly much shorter than that on both houses we'd had offers accepted on. 

JAM0915

JCarmello said:

Just to help you folks with timelines, we had a physical valuation on 24/08. They text to say they received the report at 6pm that day. They text the next afternoon to say that they had issued their mortgage offer. This was two weeks ago.

Back in June, we had a valuation (unsure if desktop or physical) on 17/6. Text to say that they received the report at 10.30am on 18/6, and a text at 10.32am that same day to say that they had issued the mortgage offer.

They did tell me that the average time is something like 22 days from appointment to offer, but we were certainly much shorter than that on both houses we'd had offers accepted on. 

That’s soo good to know, thank you!! Just out of interest, did you have the hard searches done before your valuation and was any additional info requested at any stage?

Our valuation is tomorrow & I'm so hoping they have done everything they need to already and the mortgage offer will come soon after the valuation is done!🤞🏻

Moneybear

Thanks! Unfortunately my valuation is being completed by their internal valuers which is why my timescales are longer. This is the second time it has happened so I guess it must be the area I am buying in... 

My hard search was done yesterday and they expect the documents to be assessed by COB tomorrow. 

hkd1994

No surprises here, I didn't hear back from Nationwide yesterday although they told me to expect to hear something by COB! I had an email this morning from the NW in-house consultant who said he was going to chase again for me. I'm hoping no news = good news (or it's not a straight rejection at least?! Haha!)

JAM0915

Oh that’s a pain, hopefully you both hear soon! I’m working off the whole no news and questions is good news too (I hope!) 

hawkins1980

No news for me either. The mortgage advisor chased them up yesterday and they said its in the queue to be assessed. Whether that will mean another 6 days once its reached assessment to be assessed is anyone's guess! 

JCarmello

JAM0915 said:

JCarmello said:

Just to help you folks with timelines, we had a physical valuation on 24/08. They text to say they received the report at 6pm that day. They text the next afternoon to say that they had issued their mortgage offer. This was two weeks ago.

Back in June, we had a valuation (unsure if desktop or physical) on 17/6. Text to say that they received the report at 10.30am on 18/6, and a text at 10.32am that same day to say that they had issued the mortgage offer.

They did tell me that the average time is something like 22 days from appointment to offer, but we were certainly much shorter than that on both houses we'd had offers accepted on. 

That’s soo good to know, thank you!! Just out of interest, did you have the hard searches done before your valuation and was any additional info requested at any stage?

Our valuation is tomorrow & I'm so hoping they have done everything they need to already and the mortgage offer will come soon after the valuation is done!🤞🏻

For the June application, the hard search was done on 21/6. For the current application, the hard search was done on 27/8. So in both cases, it was after the mortgage offer was issued.
They had requested a payslip prior to the appointment, but nothing further after that.