Nationwide Mortgage

am4321

FirstTB2022 said:

am4321 said:

Our timeline

1/2 DIP approved 
1/2 mortgage application submitted
2/2 submitted further payslip
3/2 valuation booked for 4/2
4/2 valuation received 
8/2 Hard searches

now it’s the waiting game..so nervous and sleepless nights.

does the hard searches show on experian, equifax or transunion? 

For me Transunion and Equifax 

jo4514

Congratulations @MToon! My application was submitted on same days as yours but still waiting to hear!

It was Equifax and TransUnion for me aswell. 

Rosco32

Rosco32 said:

Hello,

I am currently waiting for an offer from Nationwide. I'm a FTB with 5% deposit. Offered £275k on a house.

18/1/22 - DIP Accept (1 Payslip requested)
19/1/22 - Full Mortgage Application submitted
19/1/22 - Soft search with TransUnion & Equifax
24/1/22 - Hard Search with TransUnion & Equifax
25/1/22 - Valuation & Survey carried out
28/1/22 - Survey report emailed to me. Valuation was same as offer @ £275k

According to Nationwide Intermediary website, valuation assessment is 4 working days starting day after Nationwide receive their valuation report, which was same day the valuation took place, 25/1/22.

Thanks

I finally got 3 texts, straight after each other on Sunday (6th Feb)

1) They've received the valuation report
2) They've reviewed and approved the valuation report
3) They've issued a mortgage offer

My mortgage broker sent me a copy of the offer by email on Monday 7th Feb, which was dated 6th Feb, so it was around 2.5 weeks in total from full mortgage application to receiving the offer. 

Pinky_1990

I’m really curious about the hard searches. I have checked all of the main agencies today and no hard search has been done, only soft ones on 2/2. Our application was submitted on 2/2, how long afterwards were your hard searches? 

jo4514

@Pinky_1990 our hard checks were done a week after our application was submitted.

lantanna

Just got a text and email.

DIP 01/02/22
Applied direct with Nationwide appointment 04/02/22
text received application 04/02/22
Text and email 08/02/22 valuation booked for 10/22

I’ve no concerns about the valuation so I really hope I’ve passed underwriting and we are on our way……

stellz40

Updated Timeline:

04/01/2022 - DIP
26/01/2022 - Meeting with NW and Application submitted (last month's payslips requested)
26/01/2022 - Valuation booked for 31/01/2022
31/01/2022 - Valuation and HomeBuyers survey
01/02/2022 - Hard search (CreditKarma)
... No text about valuation .. no update
04/02/2022 - Called NW to ask about valuation. Told valuation was ok and to wait 2-3 business days
04/02/2022 - Texts received in succession: valuation received and offer issued
08/02/2022 - HomeBuyers report received via email

Very pleased with the timeline and the process. Still waiting for the offer to be received by post. How long does it normally take after the text? And do they also send it by email? (haven't used a broker)

jo4514

@stellz40 wow, that’s was a quick turnaround; congratulations!

Seems mine is just going to keep dragging. Nationwide have asked our MA for more bank statements which we have already given them so not sure why they were not just submitted! I can only assume they are requesting more info with us both owning our own business and it being our only source of income. We’ve had to submit our  business overviews too and now I’ve been told they also want our 2020 overviews which they requested last week and they and were sent. Apparently they did not upload properly from the MA to Nationwide. Looks like I’m in for another weekend of waiting….

Jackattack111

Has anybody got experience of applying after recently paying off debts? I had small balances in a buy-now pay-later loan (£800) and a balance transfer card (£700), both of which I paid off a week or so before applying. Obviously these still appear on my credit report as it takes some time to update. 

Asked broker whether to declare them and he said no need but they might ask for proof I've paid them off. Application went in 2.5 weeks ago, valuation completed and just with the underwriter now but have an annoying feeling they are gonna come back and ask for that, then it will have to go through the 4-day document review stage all over again. 

FirstTB2022

jo4514 said:

@stellz40 wow, that’s was a quick turnaround; congratulations!

Seems mine is just going to keep dragging. Nationwide have asked our MA for more bank statements which we have already given them so not sure why they were not just submitted! I can only assume they are requesting more info with us both owning our own business and it being our only source of income. We’ve had to submit our  business overviews too and now I’ve been told they also want our 2020 overviews which they requested last week and they and were sent. Apparently they did not upload properly from the MA to Nationwide. Looks like I’m in for another weekend of waiting….

Same situation, I think for self-employed or company directors its manual underwriting. Not requested Business Overviews, only requested accountant letter in regards to some information on deposit coming from business account 2 days ago, sent over to broker this morning, application 16th Jan, validation done and approved, waiting game!!!