Nationwide Mortgage

Fromthebrink

Fromthebrink said:

Fromthebrink said:

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 🙌🏼

So, very little to update in the period since my first post. The valuation took place over a week ago, we haven’t heard a peep back. There is a new search showing on Clearscore dated 16 June, noted as a ‘Subsequent search for credit’. Does anybody know exactly what this means?

Our case should be fairly clear cut, both PAYE, same jobs for 7+ years, no debt, decent deposit and our offer was accepted at £25k below asking. 

Who knows where Nationwide are at the moment though. Some of the more recent posts on here have been really sad to read. What a painful process to go through at what should be a time of excitement…

So….. We had confirmation from our MA today that Nationwide have down valued the property by £15k, meaning we have had to go back to the vendor and ask for a price adjustment. We were already £25k below asking and had researched local sales and Zoopla’s estimate tool (FWIW) has our bid below even the bottom of their estimate bracket. 

Frustratingly, Nationwide haven’t issued a justification for the down valuation, which the clients agent have asked for. So we are most probably looking at a sale fall through 😬

Everything crossed this isn’t the case, this is the house we all have our hearts set on 🤞🏼

Charmoo

GreenCat80 said:

If you ask your broker to upload a document before the underwriter asks for it, just in case, does this send you to the back of the queue again? 

It does say this on Nationwide website - not to submit documents they haven't requested or it could cause delay!! Can't win!

Charmoo

Fromthebrink said:

Fromthebrink said:

Fromthebrink said:

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 🙌🏼

So, very little to update in the period since my first post. The valuation took place over a week ago, we haven’t heard a peep back. There is a new search showing on Clearscore dated 16 June, noted as a ‘Subsequent search for credit’. Does anybody know exactly what this means?

Our case should be fairly clear cut, both PAYE, same jobs for 7+ years, no debt, decent deposit and our offer was accepted at £25k below asking. 

Who knows where Nationwide are at the moment though. Some of the more recent posts on here have been really sad to read. What a painful process to go through at what should be a time of excitement…

So….. We had confirmation from our MA today that Nationwide have down valued the property by £15k, meaning we have had to go back to the vendor and ask for a price adjustment. We were already £25k below asking and had researched local sales and Zoopla’s estimate tool (FWIW) has our bid below even the bottom of their estimate bracket. 

Frustratingly, Nationwide haven’t issued a justification for the down valuation, which the clients agent have asked for. So we are most probably looking at a sale fall through 😬

Everything crossed this isn’t the case, this is the house we all have our hearts set on 🤞🏼

We are trying to buy in Scotland which goes by the value of a home report that is a legal requirement for all sellers to have before they can sell. The valuation is based on this. 

I really hope you can come to an agreement with the sellers and still buy your home 

GreenCat80

Charmoo said:

GreenCat80 said:

If you ask your broker to upload a document before the underwriter asks for it, just in case, does this send you to the back of the queue again? 

It does say this on Nationwide website - not to submit documents they haven't requested or it could cause delay!! Can't win!

Thanks for that, I didn’t think to look on the website. I bet they ask for it and add another 3 weeks on, but I don’t think I can take the gamble 😒

sc1401

sc1401 said:

Hi everyone, silently been reading this thread for the last few weeks and like everyone, just nervously waiting! Our timeline is:

30/05- full application submitted
30/05-valuation booked for 16th
07/6- hard search appeared on credit file.
16/06-Valuation completed and the woman said she would be submitting it that day.

And that’s been it up to now. Our MB has said that he’s not heard back about our valuation yet but that “everything else looks to be satisfied though” so I’m hoping that could be good news 🤞🏼

Good luck all! 

So going on from this, our mortgage broker got in touch and since we are buying off my partners mum and she’s heavily discounting it for us, the valuation needs to be reviewed which could take a couple of weeks apparently 😫
The wait is driving me crazy but he said that our documents seem to be fine and they’ve not asked for anything else! 

Pianotime123

Just wondering as all these applications are taking sooo ridiculously long, has anyone continued with packing their house up still at all? We are due to move as soon as offer is through as everything is done but in limbo & not sure to put things in boxes or not. If we dont it will be manic but if we do we run the risk of having to unpack it all (if it gets declined)which will be devastating! Not sure what to do🤷‍♀️

GreenCat80

Pianotime123 said:

Just wondering as all these applications are taking sooo ridiculously long, has anyone continued with packing their house up still at all? We are due to move as soon as offer is through as everything is done but in limbo & not sure to put things in boxes or not. If we dont it will be manic but if we do we run the risk of having to unpack it all (if it gets declined)which will be devastating! Not sure what to do🤷‍♀️

I’m not moving, my ex is, but I’m happily packing his stuff up 😂 how many week in are you? I don’t know how fast it all goes once the offer comes through, but I think you should start to pack the non essential stuff 🤞🏻

Pianotime123

@GreenCat80, 🤣 love that! Yeah dont blame you...bet u just want him out. We are 8 wks in but really short chain & solicitors are ready for just the offer i think. Not sure how long after the offer but prob no longer than a couple of wks til ex&comp. Iv decluttered so far, maybe il start this w.end. How many wks in are u? 

GreenCat80

Pianotime123 said:

@GreenCat80, 🤣 love that! Yeah dont blame you...bet u just want him out. We are 8 wks in but really short chain & solicitors are ready for just the offer i think. Not sure how long after the offer but prob no longer than a couple of wks til ex&comp. Iv decluttered so far, maybe il start this w.end. How many wks in are u? 

5.5 weeks here. 8 weeks is a lot, I hope you get your offer this week 🤞🏻🤞🏻🤞🏻

hanmoe

We’re 6 weeks from application today! Fingers crossed for some news soon. We’re first time buyers, living with my parents so no chain our side. Just want to wake up to a text 🤣 good luck to all who are still waiting.