Nationwide Mortgage

Moneybear

Since my mortgage offer was issued, Nationwide's rate has dropped 0.3%. Does anyone know how long it takes post offer for Nationwide to review and offer on the new rate (subject to them still being happy to lend)?  

stuartm100

I'm near completion now but here is my timeline for a new build with a help to buy mortgage (buying the show home so already built)

31st July - mortgage application submitted by broker
5th August - valuation instructed
9th August - valuation booked for 23rd August
23rd August - valuer doesn't turn up to the site(!!)
26th August - valuers call back site to rebook for 9th September(!!)
2nd September- same valuer turns up to value another plot so the site convince him to do mine on the same day
13th September - broker calls me to advise property downvalued by £10K
16th September - the developers agree to reduce the purchase price by £10K
29th September - mortgage offer issued 
4th October - exchanged (I was supposed to have exchanged on 10th September originally)
11th October - text from Nationwide to confirm funds will be released 28th October 
Completion date - 29th October

All in all very slow with Nationwide and the valuers, Nationwide were on something like 6 working days to review anything, but getting £10K knocked off the purchase price was worth the wait 🙂

cosh25

Just thought I would provide a recent timeline with Nationwide.

15/10/2021 - offer accepted
19/10/2021 - app submitted via broker
22/10/2021 - homebuyers and valuation done via countrywide
25/10/2021 - 2 texts and emails within 5 mins of each other advising valuation received and then offer issued.

for context I’m FTB in NE England with a 15% deposit and nothing out the ordinary!

good luck everyone

mancdude

We got a text saying our valuation report had been received on Thursday. Called MA and he said it's showing as 'approved' but we've not heard anything else. No hard search as yet, hoping the next update will be an offer. 

sheffield_soldier

@mancdude

Post an update tomorrow and let us know. I've got valuation of my future house tomorrow. My advisor said they will have done their checks already but I neither have a hard search on my report. 

mancdude

Will do, MA seems to think it'll be Thursday when we hear something so if it's earlier that's all the better! 

FGADE

Hello all, I have been following this forum for about a week now as I was trying to work out my timelines and all with our nationwide mortgage application

Here is our timelines if it will be of help to anyone else 

Sept 10 applied for the AIP, got referred
Sept 14 AIP approved 
Found a property and put on an offer and for accepted 
Oct 4- mortgage application 
Oct 4- email and text to say mortgage application received 
Oct 5- text and email to say valuation booked for 13th October 
Oct 7- bank statement for a certain date requested and joint savings account. sent same day. Also had a soft check 
Oct 13- text and email to say valuation received and under review. Notification that hard check took place received . 
no communication again until this morning to say mortgage offer on the way 😁
 

It has been nerve racking but not demanding in terms of documentation. 

We applied through a mortgage broker  

wish you all the best 
 
 

sheffield_soldier

I cannot see any hard searches done yet. Valuation confirmed received but no hard searches. I thought they would have done the hard searches before the valuation.
Anybody know how long the searches take to show on credit karma or clear score? 

24Sevenx

sheffield_soldier said:

I cannot see any hard searches done yet. Valuation confirmed received but no hard searches. I thought they would have done the hard searches before the valuation.
Anybody know how long the searches take to show on credit karma or clear score? 

Application submitted 21st September, valuation was done 29th September and hard search showed up on 1st October.

Mortage offer received 25th October.

sheffield_soldier

24Sevenx said:

sheffield_soldier said:

I cannot see any hard searches done yet. Valuation confirmed received but no hard searches. I thought they would have done the hard searches before the valuation.
Anybody know how long the searches take to show on credit karma or clear score? 

My valuation was done 29th September and hard search showed up on 1st October

When did offer arrive?