Nationwide Mortgage

Narges

Good afternoon everyone,

I'm new here, just wanted to share our timeline with Nationwide and see if there is anyone here with similar situation to ours.
11/5 DIP referred
11/5 Soft credit search on both applicants
12/5 DIP accepted
24/5 Offer accepted on property
25/5 Full application done
26/5 Text/Email to say valuation booked for 15/06
04/6 hard check carried out on both applicant
06/6 soft check carried out on both applicant

our valuation is booked for tomorrow so not sure how long it will take after that to hear the decision. what worries me its my Partner's credit history, he had a two year Arrangement to Pay with a Water company, which has been stopped on March 2020 and the account has been closed on Apr 2021 and marked satisfied. however, other than this black mark he doesn't have any other issue, and my credit is clean without any problems. we are applying for 90%LTV, and we have a good amount of saving other than our deposits(£33k), close to £25K.  we are both in long full time employment, too. I'm stressed as I have read really frustrating comments about not being able to secure a mortgage with AR mark on credit file! does anyone have any experience with these type of issue? 

joshfreeman

Narges said:

Good afternoon everyone,

I'm new here, just wanted to share our timeline with Nationwide and see if there is anyone here with similar situation to ours.
11/5 DIP referred
11/5 Soft credit search on both applicants
12/5 DIP accepted
24/5 Offer accepted on property
25/5 Full application done
26/5 Text/Email to say valuation booked for 15/06
04/6 hard check carried out on both applicant
06/6 soft check carried out on both applicant

our valuation is booked for tomorrow so not sure how long it will take after that to hear the decision. what worries me its my Partner's credit history, he had a two year Arrangement to Pay with a Water company, which has been stopped on March 2020 and the account has been closed on Apr 2021 and marked satisfied. however, other than this black mark he doesn't have any other issue, and my credit is clean without any problems. we are applying for 90%LTV, and we have a good amount of saving other than our deposits(£33k), close to £25K.  we are both in long full time employment, too. I'm stressed as I have read really frustrating comments about not being able to secure a mortgage with AR mark on credit file! does anyone have any experience with these type of issue? 

If your partner paid everything on-time and up to date to that Water company and there are no "missed" payments, then it'll be fine. I have closed credit cards/loans etc and some are marked similar. If it does show missed payments then they'll come up during the hard check.

As for timelines, the current wait looks to be around 14 working days, you can Google "Nationwide Mortgage Timescales" and it'll be the 1st link (i cant post as im new here!) - however mine took 9 working days from evaluation to results so you can work out from that, it's quite slow unfortunately. During this period they'll ask you about any concerns they have.

GGM29

Morning. We just got our mortgage offer text this morning at 07.45. Just to let you all know. Keeping my fingers crossed for you all

GreenCat80

GGM29 said:

Morning. We just got our mortgage offer text this morning at 07.45. Just to let you all know. Keeping my fingers crossed for you all

Brilliant, really pleased for you, congratulations 🥳 

GGM29

Thank you. I burst into tears. Didnt realise exactly how stressful it had been!! Cant imagine your stress though. Hope you hear soon xxx

flamboyant_dude

GGM29 said:

Morning. We just got our mortgage offer text this morning at 07.45. Just to let you all know. Keeping my fingers crossed for you all

 Amazing news, congratulations! 🥳 🥳 

Shellbell136

GGM29 said:

Morning. We just got our mortgage offer text this morning at 07.45. Just to let you all know. Keeping my fingers crossed for you all

Yay!! Congratulations 

Charmoo

Well that's that journey over- the builders have remarketed the sellers plot at 40 grand over what they reserved it at so they have pulled out of the sale  

GGM29

Oh I'm so sorry to hear this, you must be devastated and you still haven't received your offer?  Its ridiculous.

Mumoffourkids

eva1984 said:

Hi All 

Wondering if anyone has experienced this from Nationwide? It has caused quite a delay in my application and I’ve still yet to hear! Very concerned about wording and it insinuating a lower value than we purchased the house for.

so our first valuation = zero valuation.

The valuer has been unable to provide a valuation figure for the property due to fire safety risks. Before it can be considered further, we require more information to be provided. Please provide us with any of the following:

a) An original Building Regulations completion certificate for the works or,

b) A Regularisation Certificate or,

c) Confirmation from the applicant acknowledging that H&S/Fire Risk concerns mean the aroom can never be used as habitable accommodation

Where option 3 (c) has been chosen, the applicant will need to complete and return the following statement:

The valuation for mortgage purposes reflects this situation.

It’s not an issue for me - the room it refers to wasn’t advertised as a bedroom and I don’t need it as one. 

It was over 4 weeks now since our initial “valuation” and I still haven’t had a figure - I’m so panicked and sick of waiting.

Anyone had a similar experience?

I had this as well and I completed the declaration. It was to do with a loft conversion that I don’t think meets fire regulations. I am still waiting to hear about the valuation and the mortgage. I got asked some questions last week which I replied to instantly. So now I’m just wondering about what the valuation will be. Did you ever hear back?