Nationwide Mortgage

Folksriker

cee_101 said:

Hi,
Does anyone know if Nationwide underwrite prior to valuation?
I submitted my application on the 7th January and just had a text to say my valuation is taking place on the 15th. Hard search has already been done.
Am I likely to be waiting long after the valuation?

thanks in advance

I'm afraid that any time any documents added at all "reset the clock", at least in my experience. For example our valuation had to be resubmitted due to an error about leasehold status so the whole thing had to go to the underwriters again. So you have at least until the valuation is submitted.

jdsimmons3

Folksriker said:

cee_101 said:

Hi,
Does anyone know if Nationwide underwrite prior to valuation?
I submitted my application on the 7th January and just had a text to say my valuation is taking place on the 15th. Hard search has already been done.
Am I likely to be waiting long after the valuation?

thanks in advance

I'm afraid that any time any documents added at all "reset the clock", at least in my experience. For example our valuation had to be resubmitted due to an error about leasehold status so the whole thing had to go to the underwriters again. So you have at least until the valuation is submitted.

Our mortgage took ages! Uploaded a document they asked for. Called the next afternoon asking how long they're expecting it too take. They said it will take 3weeks to check the document I just uploaded. I moaned... A lot. Told them seller is going to pull if we don't have an offer soon etc (wasn't true) 😅 got a text 3hours later with a mortgage offer! Keep on at them! I had a broker too but was sick if having to go through somone else when the answer I need was just one phone call away

DeBee35

Hello everybody,

We applied for a joint mortgage. I have a full time job but I was on maternity when we applied and my partner is SE.

Here’s our timeline:

14 Dec - Spoke to NW 

14 Dec - soft search 

16 Dec - DIP accept

21 Dec - 2.5 hrs appointment with MA. Full application submitted

22 Dec - email update- for full assessment

22 Dec - valuation received

24 Dec - MA rung and asked some clarification about my partners job.

24 Dec - Hard search 

30 Dec - Head office emailed our MA asking for some explanation about the property we want to get, proof of deposit and my return to work letter which we’ve already sent after submitting application and the last three recent bank statements of my partner. 

We emailed everything to our MA the same day.

05 Jan - I rung NW for an update, i was told our documents was received 30th so we will hear something on the 13th.

07 Jan - text and email saying mortgage offer was issued

Good luck to everyone still waiting. 🙏🏼

emkate9

Hi all,
I've already had my mortgage offer through back in early November, but on Clearscore it says there's been no hard searches still? And same for my partner. There's only a soft search from September when our DiP was submitted.
Anyone else experienced this? Bit worried that despite having the offer they're going to a random check last minute and find an issue 😂 our credit scores are good but you never know what they'll take issue with!

Ryantg

cee_101 said:

Hi,
Does anyone know if Nationwide underwrite prior to valuation?
I submitted my application on the 7th January and just had a text to say my valuation is taking place on the 15th. Hard search has already been done.
Am I likely to be waiting long after the valuation?

thanks in advance

My timeline was :
3/1/22 - DIP with Nationwide approved. Was just checking myself
4/1/22 - Application submitted through broker 
5/1/22 - Text saying Valuation booked
6/1/22 - Text saying - Valuation received and reviewing. 
10/01/22  - Update - Called Nationwide and they confirmed Valuation was approved

But I called Nationwide to confirm the valuation. It was a desktop Valuation. Just call them and confirm. 

Ryantg

So new update... 

3/1/22 - DIP with Nationwide approved. Was just checking myself
4/1/22 - Application submitted through broker 
5/1/22 - Text saying Valuation booked
6/1/22 - Text saying - Valuation received and reviewing. 
10/01/22  - Update - Called Nationwide and they confirmed Valuation was approved
12/01/22 - Nationwide didn't like my letter regarding my pay rise from my workplace, and wanted clarification on RSU tax showing on my payslip. 

I work for a US company, and we have users all across the globe.. They don't send letters regarding pay increase, it's all on an online portal.. So got HR to send another document addressed directly to Nationwide and exported my HR portal with proof of pay increase.. and the RSU clarification DOESN"T affect my salary at all. So why would this be an issue!???? 

MA has replied today, and hopefully this is the last thing they need... Problem is.. My application will be in the back of the queue now.. So another week waiting. Such a stupid automated system. 

fragilecliche

Ryantg said:

MA has replied today, and hopefully this is the last thing they need... Problem is.. My application will be in the back of the queue now.. So another week waiting. Such a stupid automated system. 

The system is horrible, isn't it?? I rang Nationwide directly to confirm they had received last bit of evidence and it was submitted last Friday. They said it should just be that, that's needed now, but I am so worried they're going to ask for something else and delay us further. There's a really tight turn around needed for exchange and I'm worried we will lose the house if we have to wait to much longer

Ryantg

fragilecliche said:

The system is horrible, isn't it?? I rang Nationwide directly to confirm they had received last bit of evidence and it was submitted last Friday. They said it should just be that, that's needed now, but I am so worried they're going to ask for something else and delay us further. There's a really tight turn around needed for exchange and I'm worried we will lose the house if we have to wait to much longer

Very similar situation with the tight turn around. Right now I'm delaying the process. Contracts are signed and should be with the sellers now. But with this new increase in pay.. I can't go ahead with the orignal mortgage offer. Hopefully... Like you, they just need that last bit and then they should approve the offer. RSU and Letter... The letter might be denied again, but worse case I have to wait for this months pay to finally prove it.. 

Main issue is there automated queue system.. They cause the delay. Read loads of posts on here with Nationwide asking for silly documents that were ALREADY provided to them... Useless. My mortgage advisor said "hopefully the underwriter has a brain and this should all be ok  How they don't know what RSU's are... and how that works. But also the letter.. It's a technology software company. Think of it like Google. Would they send letters out to staff.... NO.. Most tech companies have everything done online now. Welcome Nationwide to the 21st Century...  

Hopefully like you and me. They have the application checked with all the other stuff, like Pay / Saving / Valuation etc done. Just the last bit they need off you and approved. Hopefully. 

My guess is by next week we should both get the approval. 

Ryantg

I just checked the Nationwide Service Updates. I can't post the link but you can google it or others have already posted on there. 

It currently reads 7 Days now for document processing. It was 9-10 days. So hopefully the timeline is improving too. 

fragilecliche

We received the text today! Mortgage offer has been issued! Wishing you all the best with yours as well. Hoping you hear asap!