Nationwide Mortgage

BillStruthBear

Just received the text to say a mortgage offer has been issued! 

Only 33 working days to get to this stage...! Good luck to everyone else still waiting. 

Tonyw193

BillStruthBear said:

Just received the text to say a mortgage offer has been issued! 

Only 33 working days to get to this stage...! Good luck to everyone else still waiting. 

Thanks for the update did you have a rather straightforward process or was there a bit of back and forth? 

leodis23

Reached out to my broker this morning for an update, turns out NW havent assessed the valuation yet (despite telling me it 'looks good' last week). Their average time is now up to 11 working days, although was only 9 when my valuation was conducted so no idea when it's going to be - my valiation was 10 working days ago, so hoping it's today.

DJC10

The never ending waiting just goes on and on for us. Below is our timeline if it helps ease the anxiety for others. I believe this is working day 27 for us now and the longer it goes on the less optimistic we are getting. We are FTB with 10% deposit (half savings/half gifted), neither of us were furloughed and are on good incomes. We are also from Northern Ireland, if that makes a difference to how long we've been waiting.

9/7 Offer accepted for house
9/7 - 18/7 MB tries to get through to HSBC for 90% LTV mortgage
20/7 Advised MB to apply for NW 90% LTV instead
22/7 The DIP has been overridden to allow you to progress to Full Mortgage Application however, underwriting will be required before a lending decision can be reached.
28/7 NW text to say application received
28/7 MB asks for identity documents, payslips and bank statements
30/7 Soft credit search
3/8 NW text to advise valuation booked for 07/08
7/8 Hard credit search
7/8 Valuation carried out (Confirmed that it took place by Estate Agent following week after not receiving any text from NW)
12/8 MB asks for more bank statements and payslips and explanation of some addresses
24/8 MB calls NW to escalate and they say case will be assessed by end of day
26/8 MB emails to say one bank statement missing and we're back in queue
27/8 MB rings through to escalate again
1/9 MB rings NW once more and they advise it is being looked at today
1/9 MB sends me a copy of Valuation report carried out 7/8

Haven't received any texts from NW since 3/8 and I'm still unsure whether the valuation has been approved. Hoping that there will be a final decision before end of week but not likely given their track record so far. Really not sure what they are doing or why it's taking so long. Been in this process so long now that my MB has bank statements going back to Jan/Feb haha

hosted

mathdotrandom said:

I had unfortunate news this morning - Nationwide have declined the property (so they must have scheduled a viewing without me knowing) due to it being still in large ex-council ownership. So back to the drawing board for me! Good luck to everyone else!

Sorry to hear this, better luck next time! 

BillStruthBear

Tonyw193 said:

BillStruthBear said:

Just received the text to say a mortgage offer has been issued! 

Only 33 working days to get to this stage...! Good luck to everyone else still waiting. 

Thanks for the update did you have a rather straightforward process or was there a bit of back and forth? 

My wife is self-employed so there was a bit of back and forth right at the start of the application but after that nothing really!

BillStruthBear

leodis23 said:

Reached out to my broker this morning for an update, turns out NW havent assessed the valuation yet (despite telling me it 'looks good' last week). Their average time is now up to 11 working days, although was only 9 when my valuation was conducted so no idea when it's going to be - my valiation was 10 working days ago, so hoping it's today.

This actually happened to me too btw, so I'm not sure what they're doing. We were told 2 days after they had received the valuation that it matched the purchase price and was all good...but then yesterday found out they hadn't *actually* formally approved it. That happened this morning and the mortgage offer text came through not long after. 
They must be sifting through valuations quickly to kick out the applications that don't meet the valuation, but then sticking it into the final checks queue and letting it get 'approved' at the last stage.

Tonyw193

BillStruthBear said:

Tonyw193 said:

BillStruthBear said:

Just received the text to say a mortgage offer has been issued! 

Only 33 working days to get to this stage...! Good luck to everyone else still waiting. 

Thanks for the update did you have a rather straightforward process or was there a bit of back and forth? 

My wife is self-employed so there was a bit of back and forth right at the start of the application but after that nothing really!

Thanks, im just trying to estimate how long the process may take for us. I mean its only the first week so im not expecting anything yet. But hoping to have it all done by the of September with a bit of luck. 

WinterInRome

mathdotrandom said:

I had unfortunate news this morning - Nationwide have declined the property (so they must have scheduled a viewing without me knowing) due to it being still in large ex-council ownership. So back to the drawing board for me! Good luck to everyone else!

Don’t get knocked down by it! Keep positive!!! It’s taken me nearly four years to get this far! So if I can (nearly) do it you definitely will 🥳

PhilFTB

DJC10 said:

The never ending waiting just goes on and on for us. Below is our timeline if it helps ease the anxiety for others. I believe this is working day 27 for us now and the longer it goes on the less optimistic we are getting. We are FTB with 10% deposit (half savings/half gifted), neither of us were furloughed and are on good incomes. We are also from Northern Ireland, if that makes a difference to how long we've been waiting.

9/7 Offer accepted for house
9/7 - 18/7 MB tries to get through to HSBC for 90% LTV mortgage
20/7 Advised MB to apply for NW 90% LTV instead
22/7 The DIP has been overridden to allow you to progress to Full Mortgage Application however, underwriting will be required before a lending decision can be reached.
28/7 NW text to say application received
28/7 MB asks for identity documents, payslips and bank statements
30/7 Soft credit search
3/8 NW text to advise valuation booked for 07/08
7/8 Hard credit search
7/8 Valuation carried out (Confirmed that it took place by Estate Agent following week after not receiving any text from NW)
12/8 MB asks for more bank statements and payslips and explanation of some addresses
24/8 MB calls NW to escalate and they say case will be assessed by end of day
26/8 MB emails to say one bank statement missing and we're back in queue
27/8 MB rings through to escalate again
1/9 MB rings NW once more and they advise it is being looked at today
1/9 MB sends me a copy of Valuation report carried out 7/8

Haven't received any texts from NW since 3/8 and I'm still unsure whether the valuation has been approved. Hoping that there will be a final decision before end of week but not likely given their track record so far. Really not sure what they are doing or why it's taking so long. Been in this process so long now that my MB has bank statements going back to Jan/Feb haha

Just starting the process myself - why did ask for more bank statements?