Nationwide Mortgage

GGM29

Hi all, I said I would let you know about completion (when you get there).  So we completed today and there was no additional credit checks done at completion.  Just so you know!  Good luck to everyone still waiting, its horrible. 

Pianotime123

@GGM29, thats good to know & many congrats! Reading all these messages just amazes me how they can run their business like this! We were told today that because our documentation is all from different areas & contracts they cannot accept it unless its all written on one page, they are happy with it but it doesnt fit their protocol by the way it's written down. They have very strict & tight criteria apparently that even the underwriters cannot override. We have one more option & thats to call our agency to see if they can put all info into 1 contract, if not nw is a no go for us! Just cant believe we'v only been told this now...going into our 9th wk. Luckily metro bank are not so strict so they are processing it this wk so 🤞 we get the result from them. Getting scared now as we'v parted with so much money!!

GGM29

@Pianotime123 !!!!!!. Fingers crossed for Metro Bank!!!!!

jv3438

jv3438 said:

I've also been a lurker on this post - we put an offer on a property on 1 April and were meant to have a valuation on 19 May after waiting WEEKS for Nationwide as they had "no dates available" - er, what? On 19 May, we got a text saying our valuation survey had been pushed out 3 weeks to 9 June. I called my broker and got the number of the surveyors, called them and apparently the "equipment the surveyor was going to use was broken on the morning". Unbelievable. 
Nationwide has since asked for 2 more months of bank statements (no surprise due to the delay).  We are HOPING to get news tomorrow.  Let's hope so, as the purchasers of our house have just told us they want to complete by end of July.  PANIC!

Mortgage offer issued today - after hearing yesterday that the bank downvalued the property by a fair amount - but we're topping up the amount ourselves - we honestly don't have the fight in us - and think the property is worth it (and our independent surveyor valued it at that) but don't want to lose the property! Cannot believe how long things have taken - looking back on this forum I think we have been one of the longest, with all our delays. Now just to wait for the paperwork, agree an exchange and completion date and get moving. Good luck to everyone still waiting. Hope you get there VERY SOON! I know it's torture!!

RobinRed007

Congrats on your offer.

Our update from today - was supposed to hear from them yesterday and didn’t so called first thing and got the case escalated. Then received an email this afternoon with some nonsense questions about loans and why funds are owed on the properties we have told them we sold months ago and have provided bank statements showing we have received money and repaid the mortgages.

Rang again and spoke to someone who agreed these questions made no sense and has escalated back to someone more senior.

Who are they employing at this place for them to not understand something so simple as where money comes from when you sell a house? It’s taken them over 5 weeks to give this response as well!

Fromthebrink

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 🤞🏼

Update….

The vendor accepted the down valuation and we agreed the sale price on the reduced terms. Absolutely nothing back from Nationwide though, no further RFI’s, no confirmation that the valuation even took place!  

I honestly couldn’t imagine a simpler case than ours for them to rattle through, it’s a simple yes or no! When I see Halifax turning cases around in as little as 7 days, I am increasingly frustrated at being recommended a Nationwide product by our Broker. But now we are in a situation where any new application would involve a higher interest rate (Due to BOE increase) and the footprint of Nationwide’s search being on our files. 

To add to the frustration, the average app to offer has now gone up to 24 days. I really hope that this was all worth it. 

Must think positive thoughts 🤣

waitinginline

Had out offer come through today. 

App was sent 27 april so happy it has come through now.

Good luck everyone else waiting

RobinRed007

So our case was escalated for review on Friday. Rang them Friday afternoon as hadn’t heard anything and was told someone had looked at it in the morning but hadn’t bothered to do anything. So it has to be re-escalated but as it was after 4pm their definition of one working day now means by close of play Tuesday.

RobinRed007

Well after that earlier message they did actually beat their deadline for a change and we got our offer text this afternoon, surprisingly on a Saturday too. It has taken 10 weeks since applying so a long wait and a relief. Good luck everyone still waiting!

Narges

Morning everyone, just wanted to give you an update on our progress:

 

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

06/6 Additional information was requested about current tenancy situation

15/06 Physical evaluation carried out and came back as satisfactory

28/06 Case has been escalated through MB and NW BDM-Expecting a respond in next 48hrs

04/07 Mortgage offer email/text received

Hope you all hear the good news very very soon.