Nationwide Mortgage

thaddy

thaddy said:

Has anyone had any updates yet?  Here is our timeline so far (1st time buyer through broker and partner self employed):
DIP and soft search - 9 July (accepted)
Full application - 10 July (text received, up to date documents requested) 
Valuation booked - 16 July (some internal issues so rebooked on 20 July, text received)
Hard search - 20 July
Valuation scheduled - 24 July

@Loglog this is our timeline how about you? I keep checking for emails and texts thankfully this forum is keeping me sane 

Daniboy1

I need advice Nationwide!!!! Please. So in march we decided to apply to santander with one years accounts. Broker was positive he could do it!  We applied self employed accounts, and a second income from employment( my partner has a job as a merchandiser, basically making sure stock in factory of clothes are delivered and made on time. Altogether he earns 60k are year. They rejected him. Applied to Halifax and accord, they both rejected. In all of this I was saying 3 rejects are wrong for broker to do, there's a pattern here. Fast Forward to June I asked him to go with another broker, this broker has a great reputation! They corrected the error on accounts which broker picked up on so accountant fixed it and we applied with nationwide. They asked for 6months pay slips, and 6 months bank statements and his 2 Yr self employed accounts. Asked for employment contract. Went to head office for decision, rejected again. (arrhhhh) 
Now option, 1) rent for few months and apply from natwest (he Banks with them last 15yrs) however only apply with self employed accounts and not his secondary job and go for smaller house. 
Option 2- apply with natwest, apply with him and my name, however my credit file has very little history.
Your answers are really appreciated as I'm soo confused now. 

thaddy

Has he tried to find out why he was rejected? Until you know it's difficult to decide on next steps. I have heard Natwest can be very picky and I know too many credit checks in a short space of time are not good either so it's probably best you get advice from the last mortgage advisor you used who knows your situation. All the best!

Loglog

thaddy said:

thaddy said:

Has anyone had any updates yet?  Here is our timeline so far (1st time buyer through broker and partner self employed):
DIP and soft search - 9 July (accepted)
Full application - 10 July (text received, up to date documents requested) 
Valuation booked - 16 July (some internal issues so rebooked on 20 July, text received)
Hard search - 20 July
Valuation scheduled - 24 July

@Loglog this is our timeline how about you? I keep checking for emails and texts thankfully this forum is keeping me sane 

Thanks @thaddy for the info. First time buyer here with a solo application. Submitted the full application on 13th through a MB and then told the valuation was done on 16th with the report back on 24th and everything was ok. Had a hard search on 25th. Then, NW asked me a few questions verbally when I rang them directly. Since them, no updates again... this is keeping me very anxious!

lemliss

Updated timeline for ours now 

Where we are at with ours (Nationwide)
Dip - 2nd July - accept 
Full application- 8th July
Requested payslips and ID - 9th July
Valuation booked on 13th July for the 20th
Hard credit check - 19th July
Valuation-  20th July
Requested further documents (letter confirming I am back from furlough leave) - 22nd July 
Requested July payslip confirming I am back from furlough (despite having employment letter) - 27 July

Called to query when we are likely to hear- they said the backlog is huge and although my valuation was done on 20th they are expecting the report to be returned on the 30th and the  another 5 working days for assessment (this doesnt include the next working day either so actually 6)

Loglog

lemliss said:

Updated timeline for ours now 

Where we are at with ours (Nationwide)
Dip - 2nd July - accept 
Full application- 8th July
Requested payslips and ID - 9th July
Valuation booked on 13th July for the 20th
Hard credit check - 19th July
Valuation-  20th July
Requested further documents (letter confirming I am back from furlough leave) - 22nd July 
Requested July payslip confirming I am back from furlough (despite having employment letter) - 27 July

Called to query when we are likely to hear- they said the backlog is huge and although my valuation was done on 20th they are expecting the report to be returned on the 30th and the  another 5 working days for assessment (this doesnt include the next working day either so actually 6)

it also took them a week for the valuation report to come back to them for my application. It's just a never ending wait... hopefully we will all be fine.  

lancslass26

Keep checking the NW service updates and was 18 working days when our application was accepted on 16/7. This went down to 17 ( I think). Now it's back to 20 working days from application to offer, this is only average turn around. Document processing was at 4 working days, now at 5 working days. Says average of 10 working days for initial underwrite of case which should mean that tomorrow is our hopeful date for the underwriter to at least begin on our application. Fingers crossed.

lemliss

Well I chased the valuation again (direct with Countrywide) and Nationwide sent it through as a new build off plan property so I need it rebooked. Absolutely stressed to bits. 

lancslass26

lemliss said:

Well I chased the valuation again (direct with Countrywide) and Nationwide sent it through as a new build off plan property so I need it rebooked. Absolutely stressed to bits. 

What a nightmare, think the location of where you're buying makes a big difference. Spoke to EA about the valuation timescales and she's contacted the valuer directly as he has others booked in this week and she's managed to get him to add it on to his list for this week. But keeping the 6/8 date just in case something happens. 

lemliss

They've rang and said it's looking like 19/08 is the earliest they can do. I am absolutely ill over this. I can't believe it wasn't picked up on and so annoyed that the valuation company didn't go back to nationwide on the 20th to say it hadn't been done.