Nationwide Mortgage

Pianotime123

Congrats to everyone who's received their offers recently. We had our offer today but from another lender, they did the whole process in 2 wks & its been easy. We are heading into our 10th wk with NW and still have not heard a peep since our last doc was sent last tues! No idea wots been going on tbh. Its good news at least we can actually try & move now however the interest rates increased twice since our applic.with NW and its costing us around 10,000 more with this other lender. As grateful as i am to the other lender im still gutted this has happened to us & feel its been so unfair. 
Decided i never want to move again after this one😖🤯

Fromthebrink

Pianotime123 said:

Congrats to everyone who's received their offers recently. We had our offer today but from another lender, they did the whole process in 2 wks & its been easy. We are heading into our 10th wk with NW and still have not heard a peep since our last doc was sent last tues! No idea wots been going on tbh. Its good news at least we can actually try & move now however the interest rates increased twice since our applic.with NW and its costing us around 10,000 more with this other lender. As grateful as i am to the other lender im still gutted this has happened to us & feel its been so unfair. 
Decided i never want to move again after this one😖🤯

Congratulations on your offer, albeit from another lender! The Nationwide situation is massively frustrating. Week 6 for us at the moment and trying to hold our nerve! We have been told by our MA to expect an update by the end of next week, but I don’t hold much hope. Had the app not been pre the rate rise, we would almost certainly have gone elsewhere based on the horror stories on here. 

We aren’t under massive pressure from a chain, but we anticipate the patience of our vendor will begin to wear thin in the next fortnight 😬 

Gotta keep on keeping on and all 🙌🏼

Pianotime123

@Fromthebrink Thanks. Hopefully yours will be much quicker than ours, some people on here have had their offers in much less time than ours...maybe it depends where in the country you are? If we were not in such a small chain & everyone waiting just on us we would have just waited it out. Good luck & hopefully wont be too long now for you🤞

GreenCat80

Pianotime123 said:

@Fromthebrink Thanks. Hopefully yours will be much quicker than ours, some people on here have had their offers in much less time than ours...maybe it depends where in the country you are? If we were not in such a small chain & everyone waiting just on us we would have just waited it out. Good luck & hopefully wont be too long now for you🤞

Congratulations @Pianotime123 can I ask who you got the offer from please? 

Pianotime123

@GreenCat80, we got our offer from Metro bank. They are a south East lender. Normally there wait times are roughly 3 wks but luckily our mort.broker begged them to escalate it for us. They underwrite your docs first before doing a valuation. 

Fromthebrink

Fromthebrink said:

Fromthebrink said:

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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 🤣

Good evening all,

Quite a surprising development to our case today, we received three texts, one after another….

1. We have received your valuation 
2. We have accepted your valuation 
3. We have sent your mortgage offer in the post! 

We weren’t expecting anything back from Nationwide until next week at the earliest, so it was a great start to the weekend.  

Wishing all those waiting the very best of luck for a swift and positive outcome 🤞🏼

Pianotime123

@Fromthebrink thats amazing news! Huge contrats...you can relax now.

purpleparrotuk

I got a Nationwide remortgage offer last week. It has all gone smoothly and should complete the first week in October when my current deal no longer has redemption fees.

So the question I have is, I am currently switching broadband deals from Sky and waiting for Gigaclear to activate the line outside my house. They can then give me an install date. The problem is I understand new internet providers will do a hard credit check when the new account is setup and I think that would flag on my already accepted Nationwide offer.

I already placed my order for it months ago but they might contact me for an install date before October. I am not sure what to do about this. The first 6 months of my contract will be FOC and then I will start paying monthly payments.

Should I just cancel the switch if they contact me too early?

 

AC55

Morning all,

Has anyone called the mortgage line for an update? If so, how long do you typically wait and when is the best time to call? 

purpleparrotuk

AC55 said:

Morning all,

Has anyone called the mortgage line for an update? If so, how long do you typically wait and when is the best time to call? 

First thing in the morning, around 8.30. Wait a few mins normally.