Nationwide Mortgage

gghnug

TVR2 said:

gghnug said:

Moneybear said:

Thankfully I've had some wonderful news this morning and the timescales were not nearly as long as they said. My mortgage offer has been produced! 

Like others I received a text telling me my valuation report was received and a minute later my mortgage offer was produced. I'll keep my fingers crossed for everyone else 

Hi there, I don’t suppose you were looking at properties in the south west? I ask as I am and seem to be having a similar experience. Docs submitted via MB , txt on receipt of application but no txt saying valuation instructed etc. Even though I know via the estate agent that the valuation took place last week. Saw your posts and this sounds quite similar to your experience, how did you find out it was internal valuation team looking at it? When I speak to NW as far as they’re concerned no val’n has been instructed... sure I’m just worrying but any insight from your experiences greatly received. Thanks

I'd urge caution as this sounds like my situation and I'm now five weeks from application with Nationwide still officially saying no valuation has been booked. Contact the vendor's agent and ask if they know the name of the firm that carried out the valuation. Mine was with Countrywide, who I think are commonly used by Nationwide, and they failed to fill in the online form for my valuation, so whilst they have valued the property nearly three weeks ago, Nationwide still haven't received anything.

Latest is that Nationwide have sent an email to Countrywide on 7th Oct demanding the report as a matter of urgency, and Countrywide replying on 8th Oct, which Nationwide have yet to acknowledge. 

I feel like a private detective just to get two companies to talk to one another.

ETA and yes my purchase is in the South West; Wiltshire.

Thanks for your response, I expressed concerns to broker on Monday who went to regional area manager who chased specific people on the surveying side of things and then yesterday the text came through and straight after the mortgage offer came through. Incredibly stressful yet relatively quick experience for me. All I could advise is just keep calling up, don’t be conscious of annoying them as you’re a customer at the end of the day and broker, bank etc are all in for a pay day. I believe I was told surveyor has 10 days to send survey to bank before they can chase so you’re definitely well within your rights to start pushing a bit. Wish you the best of luck. 

snbkr12

I’ve been lurking on this thread for a couple of weeks now and feel like I’m now in a position to add my own journey!

FTB with my partner - 90 LTV
17th Sept - offer accepted on house (after a week long back and forth!)

18th Sept - solicitor instructed.
20th Sept - DIP approved with Nationwide
23rd Sept - application to nationwide sent via broker
23rd Sept - survey and valuation booked for 5th Oct
5th Oct - survey and valuation confirmed as carried out
12th Oct - email broker for update as all gone silent. Confirmed that nationwide requested further pay slips and these were sent on 5th Oct
13th Oct - survey returned, few niggles but should be okay. Valuation at offer price (phew). Broker informed us that nationwide haven’t accepted partners overtime as it isn’t on each payslip. Broker advised we send Sept payslip and she will send a blurb to explain. At present we are £8800 short of the amount we need to borrow.

Very anxious at this point but if worst comes to it, I will see if we can apply for the helping hand product. The wait continues!

melanieobryan

Has anyone got experience with nationwide for a purchase on Scotland? Buying a property and with the current market the purchase price is over the home report value. Straightforward application with nationwide who are our current lenders as well. Was advised by nationwide to submit our application, putting the purchase price as the home report value, so that the correct ltv was calculated. Then to phone them and update the prices to the real purchase price and confirm it was a Scottish property. Applied on the 7th sept and after back and forth on documents I Phoned to update the figures on the 23rd sept. Received an email on the 30th sept saying that the mortgage application was approved. Then got a further email on the 5th Oct with a query about the valuation price being less than the purchase price. We confirmed both prices and were told it would be another 5 working days. Despite only having 2 working days before our agreed moving date, nationwide refused to escalate or help us progress this quicker to ensure completion. Phoned every day and still no progress. Phoned yesterday as that was when we expected an answer, to be informed that they’d now asked for an amended valuation report because the value doesn’t match the purchase price. They’d only asked for this the day before and never mentioned this likelihood whenever I phoned them to discuss. Long conversation on the phone about how I’d now had to delay the move and it was costing everyone and risking the sale altogether and was told that if I could hurry the surveyor then that could speed things up. The surveyor has confirmed all the details and value as accurate and in date so refuse to amend the report and it would cost the seller to do this. Another teary phone call this morning and I’m basically going round in circles. Nationwide call centre can’t do anything to escalate because they say it doesn’t for the criteria, the surveyor says everything is fine with the report and nationwide say I have no recourse as the customer until and if the mortgage is declined. Can’t speak directly to the underwriters. It appears the underwriter wants the valuation to match the purchase price but that’s never going to happen as we are paying above the valuation, due to the current market and it being in the Scottish offers over system. We have plenty of equity from our sale for this and the figures don’t change the ltv we’ve applied for. 

Anyone know if as a customer I have any recourse to get this sorted quickly as we are at risk of losing the house and our sale. Seriously regretting not using a broker but it should have been a straight forward application. 🤦‍♀️I can’t bare the thought of phoning them again

[Deleted User]

Hi
if someone’s nationwide mortgage is offered after valuation which it was
do nationwide then need to see the searches too?
I mean they’re all done and dusted and mortgage offered
ive never heard of the lender needing to see the searches 

TVR2

TVR2 said:

TVR2 said:

Our application seems to have stalled so I'm having to phone around to keep things moving.

• 7th Sep - Application submitted directly through Nationwide using one of their advisors
• 8th Sep - The online portal updates stating all documents received and accepted
• 8th Sep - I get a call from Countrywide surveyors to arrange my buildings survey

Then absolutely nothing from Nationwide to date. About a week later I start to wonder what's happening, so make some enquiries.

• 16th Sep - Vendor's estate agent confirms valuation booked for 23rd Sep
• 21st Sep - Surveyor's portal confirms outsourced buildings survey booked
• 28th Sep - I contact Nationwide asking what the delay is and am told they are waiting on the valuation
  
• 30th Sep - Vendor's estate agent confirms both surveys have been carried out on their booked days
• 30th Sep - I contact Countrywide asking where the valuation has gone and they say they won't supply it until the buildings survey report has completed, which will take another week or so(!) They suggest Nationwide send a Post Valuation Query (PVQ) to Countrywide to request the valuation now.
• 30th Sep - I ask Nationwide to request a PVQ and am awaiting their response.

Throughout this, I have yet to receive any automated communications from Nationwide regarding the valuation. I would not have known it had even taken place had I not done some digging around. Makes me think a link has broken in the communications between Nationwide and the Countrywide surveyors, which is frustrating when that adds weeks of delay to the process.

Hey ho, all part of the fun of house buying I suppose 

Pretty frustrated with Nationwide and Countrywide surveyors. Having not heard anything further I escalated my request for Nationwide to request a PVQ and now got a response from our mortgage advisor to say she has raised this with the relevant department. This was on Monday 4th.

Thursday 7th comes and I still haven't heard anything so I call Countrywide again. They state that the Valuation is completed and closed and that they have sent everything they need to. Back on the phone to Nationwide (a 25 minute wait on hold) and I am now told that the application has not been updated since the 8th September, and that as far as they are concerned, no valuations has even been booked. This is why no searches have taken place yet; they have done nothing for the last month.

It seems the valuation department is now aware of this and is perusing it, but they are still bound by their slow SLA's, and no amount of requesting ours is dealt with as a matter of urgency seemed to yield any change. It's okay that mistakes happen but it's how you deal with them that's telling and both Countrywide and Nationwide don't seem to care that their process has broken down somehow. Think I need to find the email address of someone a little more important at Nationwide and let them know what's going on; that might get thing moving.

Disappointing update. After three weeks of trying to get Countrywide surveyors to return the valuation to Nationwide, they have...and it's a ZERO valuation. 

I have yet to get written notification from Nationwide, but over the phone, they say the report mentions damp, subsidence, and woodworm. The holy trinity.

Thing is, I got the full structural report back a few days earlier and it confirmed that there were no damp readings in the house, with the exception of the unheated single-skinned porch (quelle surprise that would be damp), there are no cracks more than 2mm and no signs of subsidence, and whilst there are signs of woodworm in the beams, it is historic and no longer a problem (the house is 150 years old).

Anyone have any experience of this sort of situation? I have submitted the full structural report to Nationwide, but of course they will take 5 working days to even look, so now I wait, but know a builder in the area so may ask him for recommendations for people who can, at short notice, verify these things are alright such that Nationwide will be satisfied.

Suddenly feels like I won't be in before Christmas...

Supersayan1

melanieobryan said:

Has anyone got experience with nationwide for a purchase on Scotland? Buying a property and with the current market the purchase price is over the home report value. Straightforward application with nationwide who are our current lenders as well. Was advised by nationwide to submit our application, putting the purchase price as the home report value, so that the correct ltv was calculated. Then to phone them and update the prices to the real purchase price and confirm it was a Scottish property. Applied on the 7th sept and after back and forth on documents I Phoned to update the figures on the 23rd sept. Received an email on the 30th sept saying that the mortgage application was approved. Then got a further email on the 5th Oct with a query about the valuation price being less than the purchase price. We confirmed both prices and were told it would be another 5 working days. Despite only having 2 working days before our agreed moving date, nationwide refused to escalate or help us progress this quicker to ensure completion. Phoned every day and still no progress. Phoned yesterday as that was when we expected an answer, to be informed that they’d now asked for an amended valuation report because the value doesn’t match the purchase price. They’d only asked for this the day before and never mentioned this likelihood whenever I phoned them to discuss. Long conversation on the phone about how I’d now had to delay the move and it was costing everyone and risking the sale altogether and was told that if I could hurry the surveyor then that could speed things up. The surveyor has confirmed all the details and value as accurate and in date so refuse to amend the report and it would cost the seller to do this. Another teary phone call this morning and I’m basically going round in circles. Nationwide call centre can’t do anything to escalate because they say it doesn’t for the criteria, the surveyor says everything is fine with the report and nationwide say I have no recourse as the customer until and if the mortgage is declined. Can’t speak directly to the underwriters. It appears the underwriter wants the valuation to match the purchase price but that’s never going to happen as we are paying above the valuation, due to the current market and it being in the Scottish offers over system. We have plenty of equity from our sale for this and the figures don’t change the ltv we’ve applied for. 

Anyone know if as a customer I have any recourse to get this sorted quickly as we are at risk of losing the house and our sale. Seriously regretting not using a broker but it should have been a straight forward application. 🤦‍♀️I can’t bare the thought of phoning them again

We received our offer last week on a Scottish property 12 weeks after initial applications. 

We’re paying over the home report value and the mortgage offer shows the purchase price rather the property value. 

It took 2 weeks for the valuation assessment which then got sorted 24 hours after I requested an escalation. 

Keep calling them until you get someone who’ll help. 

sheffield_soldier

So we have finally had our offer accepted on an house. The mortgage application should be submitted today via our broker.

Nervous to say the least! I have a good credit score, zero debt and no missed payments for years! What worries me is that I did go bankrupt 10 years ago and just praying this doesn't affect me.

I'm not expecting any issues with the valuation as we have got a real deal! it's actually worth an additional 20k+ and were putting 10% down.

Because of the bankruptcy 10+ years ago, are they likely to be digging deeper and taking a lot longer with the process? (Perfect history since the bankruptcy)

mancdude

Joining in on this. 

Remortgage to pay off full equity loan, moving from Santander to Nationwide at 74% LTV. Perfect credit score but some outstanding loans, credit cards and finance (no defaults / missed payments etc). 

- 19.10.21 Full application issued via broker

- 20.10.21 query from Nationwide why wife doesn't pay tax on latest pay slip (maternity) - reverted back via MA

- 20.10.21 Countryside call to arrange valuation, booked in for 21.10.21
- 20.10.21 soft search appeared on ClearScore. 

We originally wanted to stay with Santander but they declined as we applied via a MA and not directly. They did a hard search though, so I'm hoping that doesn't skew things for Nationwide. 

snbkr12

Gosh, our saga continues due to a discrepancy in partners overtime. Broker is appealing Nationwide’s decision to not use any overtime at all based on 1 payslip not showing it (error on partners manager part). I asked whether we could go straight to using helping hand but she’s reluctant due to rates being higher (works out £75pm extra). She’s confident with the appeal we’d be okay but I’m just not sure. 

Solicitor has advised enquiries their end are going well and are asking after the mortgage so I’ve updated them today. 

snbkr12

After speaking with my partner we’ve decided to ask our broker we’d like to change to the Helping Hand product.

Probably not the right etiquette asking our broker to do that, but we feel it’s the best way forward for us and our sanity!