Nationwide Mortgage

eva1984

Mumoffourkids said:

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?

Hi 

No, I am not sure they have clear systems in place for this - although I think it is common as when I rang they referred to it as a 'risk assessment'? I was told it goes back to the surveyor as I have signed they can now value the property (strange it wasn't done before if they already know the 'issue' they identified?! Timescales are effected by the valuation going back and forth. 

I was told the zero valuation is to make sure it is 'seen' and people respond to it - otherwise it could be missed. I have not heard so I am hoping the valuation is ok and it does not cause us an issue. I will have to chase it up again.  The people we are buying from don't have a house yet so luckily we are not under to much pressure but I am worried we won't be able to get the mortgage or it will be massively down valued. I have calmed down as I am thinking it has been a while so if there was a problem I would know by now?! 

Sorry I can't help more - did they give you an idea of timescales? I didn't get any more questions after I sent my form off - I wonder if it was your underwriter asking them? Which may be a good sign?  

Charmoo

GGM29 said:

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

We got the mortgage offer - just not in time to buy the house. Yup devastated. Happy you have your offer now, brilliant news 👏 

Fromthebrink

Good evening all!

We are just beginning our journey on the Nationwide application (Through MA). The posts on this forum have made for very interesting/terrorising reading so far!

Full Application 06/06
Soft search 06/06
Hard search 11/06
Valuation 13/06 (2.5 hour survey!)
And now we wait….

The only document request to now have been for our most recent wage slips. We have everything crossed, but have to accept the process and let it play out. 

Best wishes to those that are having a tough time or have had a negative decision. Congrats to those that have for over the line 🙌🏼

97User

Morning all, just thought I'd let you know how my application went, I've been following this thread silently in the background. 
26/5 Full application sent
7/6 Valuation booked for 14/6
14/6 Valuation
15/6 Nationwide text & email confirming valuation received and around 1 minute later another text confirming they have issued the mortgage offer.

All the best to everyone waiting, hope you get your offers soon🤞🏼

Narges

@97User congrats, happy to hear you have received your offer.

GGM29

Hi all

So I received a copy of my mortgage offer from my MB (still waiting on the posted one to sign). The offer included a condition that I pay off my credit cards on completion.  I was planning on doing this anyway.  It struck me though that my initial thoughts about underwriting were probably correct.  When I first put my application in they carried out a hard search (9 May).  I had another one done on 27 May and the first one was removed.  I suspect that if my circumstances had been straightforward (ie I didn't have any credit card debt) I would probably have gone straight through automated underwriting and heard much earlier - but because I do have debts they obviously have to carry out a human underwriting process so that they can then consider what terms of the offer will be before they make it - I suppose this takes time.  On that basis, I would suggest that if you haven't heard anything but your hard search was some time ago, its likely to a yes but with conditions.  I just wanted to highlight this to those who have been waiting for a long time because it was like a lightbulb went off!

GreenCat80

I spoke to my broker today. He confirmed that NW are completely snowed under and said they’re not allowing anyone to escalate at the moment and most of the workers have turned their phones off 😳 he does think mine should go through though and said I’ll probably hear early next week 🤞🏻 I hope he’s right. Good luck everyone who’s waiting 💚

Narges

The interest rate has gone up today, not sure if that would delay any decisions or not but this waiting to hear from Nationwide is killing me 🥹

Pianotime123

Hi, I'm new to this & not posted so far but been following for a while now. I literally dont think iv ever been so stressed as i am right now. Our timeline so far:
DIP 4/5
Application 6/5
Valuation 20/5
Val txt complete & approved 26/5
All Hard searches done, various docs asked for & now waiting on a reference from my partners umbrella company who now want to know his last 12 months of pay. Its all in my partners name, he is a second time buyer & currently with Nationwide. We are in a short chain with 1st time buyer for our house & our sellers are buying a new build( dont think they hav a mort as older couple & downsizing). All searches & surveys are done & solicitors are ready & waiting on our offer, our sellers are getting pressure on new build as want to wrap it up in 3 wks! Its been horrendous...we're so far along, even put loads of stuff in storage & moved kids schools closer to our new house. Cant believe we still have no decision! Our mb wants to do another applic along side just incase it takes too long or is not approved. Im so worried. My partner is a fixed term contractor, credit score of 1000, only thing of concern is the ask for last 12 months pay as he had 2 pay rises 8 months ago so may not like the 4 months before that. Sorry its a long post but thought it may help to join in!

GGM29

@Pianotime123 No wonder you are stressed.  The whole thing is a nightmare - I think the worst part is the lack of transparency, you have no idea what's happening so your brain goes into overdrive.  Even after my mortgage offer I can't relax, that's the impact this has had on me and others - its positively cruel