Nationwide Mortgage

lemliss

hounsehunterftb said:

Hello all,
We are second time buyers purchasing a new build property with 15% deposit. We have another property which is currently rented out and don't intend to sell. I and my husband are both existing Nationwide customers with decent credit scores. Here is our timeline so far

• 6th July 2020 - DIP received
• 7th July 2020 - Mortgage application submitted (Got a text and email from Nationwide about receiving the application)
• 8th July 2020 - Valuation booked for 20th July 2020
• 16th July 2020 - Another update with valuation being resheduled for 27th July 2020
• 17th July 2020 - We can see the hard search performed on us 

Waiting game.. What puzzles me is they have not asked for any documents so far which makes me believe it has not been with an underwriter. We applied through a mortgage advisor.
In the DIP, it stated that we passed the affordability with maximum affordable amount about £30,000 more than we are borrowing. 
What do you think should I expect to happen going forward after 27th? I am majorly worried about valuation and affordability check (still as I heard Nationwide is being really picky) Thanks guys! 
Good Luck all!!

They asked for very little documentation from us. Copies of our passports, last months payslip and a letter from my employer confirming I was back from furlough. Then today requested my July payslip x

ftbx

Here’s my timeline if it can help anyone 

03/07 - submitted confirmed by text and email 
06/07 - valuation booked 
07/07 - requested more docs 
10/07 - valuation done and report received 
17/07 - undervalued by 10k 
          - renegotiated with sellers 
          - edited details to match price decrease 
          - Underwriter requests info 
20th, 21st + 24/07 chased for updates 

24/07 - mortgage offer via texts and emails 

Seriously lost the will and was convinced it wasn’t going to be approved but it worked out in the end. Good luck everyone waiting. 

hounsehunterftb

ftbx said:

Here’s my timeline if it can help anyone 

03/07 - submitted confirmed by text and email 
06/07 - valuation booked 
07/07 - requested more docs 
10/07 - valuation done and report received 
17/07 - undervalued by 10k 
          - renegotiated with sellers 
          - edited details to match price decrease 
          - Underwriter requests info 
20th, 21st + 24/07 chased for updates 

24/07 - mortgage offer via texts and emails 

Seriously lost the will and was convinced it wasn’t going to be approved but it worked out in the end. Good luck everyone waiting. 

I am definitely stressed about the house being under valued or something. Really hope that won't be case. Just for a smooth process really..will let you all know. Congratulations on your mortgage offer! You must be so relieved. 

hounsehunterftb

lemliss said:

hounsehunterftb said:

Hello all,
We are second time buyers purchasing a new build property with 15% deposit. We have another property which is currently rented out and don't intend to sell. I and my husband are both existing Nationwide customers with decent credit scores. Here is our timeline so far

• 6th July 2020 - DIP received
• 7th July 2020 - Mortgage application submitted (Got a text and email from Nationwide about receiving the application)
• 8th July 2020 - Valuation booked for 20th July 2020
• 16th July 2020 - Another update with valuation being resheduled for 27th July 2020
• 17th July 2020 - We can see the hard search performed on us 

Waiting game.. What puzzles me is they have not asked for any documents so far which makes me believe it has not been with an underwriter. We applied through a mortgage advisor.
In the DIP, it stated that we passed the affordability with maximum affordable amount about £30,000 more than we are borrowing. 
What do you think should I expect to happen going forward after 27th? I am majorly worried about valuation and affordability check (still as I heard Nationwide is being really picky) Thanks guys! 
Good Luck all!!

They asked for very little documentation from us. Copies of our passports, last months payslip and a letter from my employer confirming I was back from furlough. Then today requested my July payslip x

Aah I see.. we have yet not reached that stage where they have asked a single document from us. I guess they will first see if the valuation goes fine before asking for any documents. Are you also an existing Nationwide customer? And how did your valuation go?

[Deleted User]

ftbx said:

Here’s my timeline if it can help anyone 

03/07 - submitted confirmed by text and email 
06/07 - valuation booked 
07/07 - requested more docs 
10/07 - valuation done and report received 
17/07 - undervalued by 10k 
          - renegotiated with sellers 
          - edited details to match price decrease 
          - Underwriter requests info 
20th, 21st + 24/07 chased for updates 

24/07 - mortgage offer via texts and emails 

Seriously lost the will and was convinced it wasn’t going to be approved but it worked out in the end. Good luck everyone waiting. 

Are u employed or self employed. ? If u don’t  mine . Thank you 

atrixa

My timeline so far:
20/07/20 - Offer accepted

20/07/20 - Subjective acceptance of mortgage application

21/07/20 - decision in principle

22/07/20 - full application submitted

22/07/20 - valuation booked and completed
Waiting on the valuation outcome now. I'm suprisingly calm about it all. 

thaddy

Do Nationwide text to confirm that the valuation is completed or received? I only got one to say it had been booked 

lemliss

hounsehunterftb said:

lemliss said:

hounsehunterftb said:

Hello all,
We are second time buyers purchasing a new build property with 15% deposit. We have another property which is currently rented out and don't intend to sell. I and my husband are both existing Nationwide customers with decent credit scores. Here is our timeline so far

• 6th July 2020 - DIP received
• 7th July 2020 - Mortgage application submitted (Got a text and email from Nationwide about receiving the application)
• 8th July 2020 - Valuation booked for 20th July 2020
• 16th July 2020 - Another update with valuation being resheduled for 27th July 2020
• 17th July 2020 - We can see the hard search performed on us 

Waiting game.. What puzzles me is they have not asked for any documents so far which makes me believe it has not been with an underwriter. We applied through a mortgage advisor.
In the DIP, it stated that we passed the affordability with maximum affordable amount about £30,000 more than we are borrowing. 
What do you think should I expect to happen going forward after 27th? I am majorly worried about valuation and affordability check (still as I heard Nationwide is being really picky) Thanks guys! 
Good Luck all!!

They asked for very little documentation from us. Copies of our passports, last months payslip and a letter from my employer confirming I was back from furlough. Then today requested my July payslip x

Aah I see.. we have yet not reached that stage where they have asked a single document from us. I guess they will first see if the valuation goes fine before asking for any documents. Are you also an existing Nationwide customer? And how did your valuation go?

Not an existing customer, our broker recommended them to us.
Valuation was on the 20th and when I called on the 24th the report was still not back. We got asked for payslips etc before our valuation. It's so different for everyone it doesn't seem to make sense. X

MBJUK

robynjur1108 said:

We have also had a carry on with Nationwide I think they are being extremely picky on who they are giving mortgages to at the moment. My partner and I applied for a mortgage in principle on Monday, both in stable public sector jobs. Earn 57,000 a year, have excellent credit scores 900+ however did not meet their eligibility regarding credit score. Which when we are both in the excellent category is extremely frustrating. I will not be using them in the future or recomending them to family or friends. Even my broker will not be trying to put applications through with them again. 

Can I ask what LTV and loan size you're applying for roughly? I earn roughly the same and am applying for a loan of around £180k at 85% LTV, and am having some problems with them on proving certain affordability q's (e.g. I get a cash allowance that tops up my salary, which is fixed, but they're being awkward about allowing me to use it as income for affordability (have had to send multiple different evidences so far and always had more questions), so I'm worried that maybe they're being a bit picky too!

khtaylor

Natiowide must now be processing my application because clearscore emailed saying that nationwide carried out a hard search yesterday. We are in scotland so process is a little different as we don't get a valuation booked in because they use the home report. 
Just hoping I get some good news early next week