Nationwide Mortgage

GN2020

DC89216 said:

Hi all,
Newby here. Not too sure on the process and what to expect.
I applied for an MIP on the 18th, it got approved a couple of days later and on the 21st I submitted the documents they requested (bank statements / pay slips / proof of address). I've now been told to wait 16 days until they are assessed. Is this correct? 
What can I do in the time waiting? What can I expect to happen in 16 days? Any help would be appreciated. 

My timeline is similar, got the AIP on 11th, full application submitted on the 18th, my broker said it could be 2-3 weeks before I hear anything at all.

Did you do this yourself or use a broker? 

mh_ww

DC89216 said:

mh_ww said:

DC89216 said:

Hi all,
Newby here. Not too sure on the process and what to expect.
I applied for an MIP on the 18th, it got approved a couple of days later and on the 21st I submitted the documents they requested (bank statements / pay slips / proof of address). I've now been told to wait 16 days until they are assessed. Is this correct? 
What can I do in the time waiting? What can I expect to happen in 16 days? Any help would be appreciated. 

You may get another text in the meantime to say that a valutation has been booked, or you may just hear nothing. I applied on 13th Aug and only just hearing progress with mine in the last week or so. Nothing about the valuation stage yet.

Okay great. Thank you. This thread seems extremely useful.
So what have you heard recently? What kind of progress? Are you expecting to hear about a valuation soon? Sorry for being stupid but what does the valuation entail?

Yeah this thread has been really useful especially with everything going on, it's a long few weeks to be in the dark. My broker emailed last week and said our documents had been checked through and were fine and it was due for full assessment by yesterday - had an email then yesterday clarifying something regarding our dependant (wasn't on the application apparently), which I corrected. Had another this morning requesting proof of one of my deposit sources, which doesn't seem to have made it to them, so emailed that back straight away.

I'm hoping the valuation will be booked soon as long as the underwriting goes OK, and then I think its just a case of waiting for that to happen and NW receiving the answer, and hopefully it's all in line with what we want. The valuation is just checking that the property would recover the amount you owe NW if you couldn't keep up with the payments. What that looks like in real life seem to vary from property to property.

DC89216

GN2020 said:

DC89216 said:

Hi all,
Newby here. Not too sure on the process and what to expect.
I applied for an MIP on the 18th, it got approved a couple of days later and on the 21st I submitted the documents they requested (bank statements / pay slips / proof of address). I've now been told to wait 16 days until they are assessed. Is this correct? 
What can I do in the time waiting? What can I expect to happen in 16 days? Any help would be appreciated. 

My timeline is similar, got the AIP on 11th, full application submitted on the 18th, my broker said it could be 2-3 weeks before I hear anything at all.

Did you do this yourself or use a broker? 

All by myself. Threw myself in the deep end with this whole house buying experience after my living circumstances changed drastically around 6 weeks ago. Zero financial / banking / mortgage knowledge prior to this. I even went to a Nationwide branch yesterday to have a sit down and chat with somebody to try and explain things to me but I was constantly palmed off by saying it's all about ringing certain numbers for the help and advice and those people can't really do much.... Extremely stressful. 

DC89216

mh_ww said:

DC89216 said:

mh_ww said:

DC89216 said:

Hi all,
Newby here. Not too sure on the process and what to expect.
I applied for an MIP on the 18th, it got approved a couple of days later and on the 21st I submitted the documents they requested (bank statements / pay slips / proof of address). I've now been told to wait 16 days until they are assessed. Is this correct? 
What can I do in the time waiting? What can I expect to happen in 16 days? Any help would be appreciated. 

You may get another text in the meantime to say that a valutation has been booked, or you may just hear nothing. I applied on 13th Aug and only just hearing progress with mine in the last week or so. Nothing about the valuation stage yet.

Okay great. Thank you. This thread seems extremely useful.
So what have you heard recently? What kind of progress? Are you expecting to hear about a valuation soon? Sorry for being stupid but what does the valuation entail?

Had another this morning requesting proof of one of my deposit sources, which doesn't seem to have made it to them, so emailed that back straight away.

Did this not mean you had to wait another 2-3 weeks for the document to be checked? Also what do you mean by this? What kind of deposit was it and why did this need clarifying by them?
I am a tad worried because I deposited 4k cash into my account about 3 weeks ago knowing I'd need it for a deposit. Previously I'd saved that cash in my house for years. I'm hoping they don't reject me because of that. 

GN2020

DC89216 said:

GN2020 said:

DC89216 said:

Hi all,
Newby here. Not too sure on the process and what to expect.
I applied for an MIP on the 18th, it got approved a couple of days later and on the 21st I submitted the documents they requested (bank statements / pay slips / proof of address). I've now been told to wait 16 days until they are assessed. Is this correct? 
What can I do in the time waiting? What can I expect to happen in 16 days? Any help would be appreciated. 

My timeline is similar, got the AIP on 11th, full application submitted on the 18th, my broker said it could be 2-3 weeks before I hear anything at all.

Did you do this yourself or use a broker? 

All by myself. Threw myself in the deep end with this whole house buying experience after my living circumstances changed drastically around 6 weeks ago. Zero financial / banking / mortgage knowledge prior to this. I even went to a Nationwide branch yesterday to have a sit down and chat with somebody to try and explain things to me but I was constantly palmed off by saying it's all about ringing certain numbers for the help and advice and those people can't really do much.... Extremely stressful. 

Wow! I chickened out of doing it myself so kudos to you for doing that! 

It’s so stressful waiting for anything to be decided isn’t it! I imagine the actual physical move will be less stressful than this. 

It’s a sad sign of the times that it’s all done over the phone now...

How many bank statements were you asked to provide? Are you employed or self employed just out of curiosity? 

mh_ww

DC89216 said:

mh_ww said:

DC89216 said:

mh_ww said:

DC89216 said:

Hi all,
Newby here. Not too sure on the process and what to expect.
I applied for an MIP on the 18th, it got approved a couple of days later and on the 21st I submitted the documents they requested (bank statements / pay slips / proof of address). I've now been told to wait 16 days until they are assessed. Is this correct? 
What can I do in the time waiting? What can I expect to happen in 16 days? Any help would be appreciated. 

You may get another text in the meantime to say that a valutation has been booked, or you may just hear nothing. I applied on 13th Aug and only just hearing progress with mine in the last week or so. Nothing about the valuation stage yet.

Okay great. Thank you. This thread seems extremely useful.
So what have you heard recently? What kind of progress? Are you expecting to hear about a valuation soon? Sorry for being stupid but what does the valuation entail?

Had another this morning requesting proof of one of my deposit sources, which doesn't seem to have made it to them, so emailed that back straight away.

Did this not mean you had to wait another 2-3 weeks for the document to be checked? Also what do you mean by this? What kind of deposit was it and why did this need clarifying by them?
I am a tad worried because I deposited 4k cash into my account about 3 weeks ago knowing I'd need it for a deposit. Previously I'd saved that cash in my house for years. I'm hoping they don't reject me because of that. 

I'd like to hope that we don't have to wait another 2 weeks for a single document to be looked over but I'm not taking anything for granted. My deposit is made up of two ISAs (we are joint apps) some in my personal savings account and a small amount gifted - I'm just missing the bit in my personal savings account so there's a shortfall in their proofs.

chz211

DC89216 said:

chz211 said:

Unfortunately had mine declined today after 28 working days (FTB, 83% LTV) due to being in overdraft during one of the bank statements I provided. Has anyone had any experience with appealing a decision? I could not really find anything about the process online.

I have had a pay rise since my application and I was in only in an arranged overdraft (interest free) to pay off final debt from a Masters I completed 2 years ago, so I am hoping they might re-consider on appeal. 

That's interesting... Did the other bank statements show the money required for your deposit? I'm confused.

Yes I have a help to buy ISA with £11k in it (with Nationwide), and and remainder was to be gifted which I had provided proof of. (gifted amount was less than 50% of total though those restrictions didn't impact me as app was under 85% LTV). Spoke with them on the phone and they are reopening the case to allow me to submit more documents. 

DC89216

GN2020 said:

DC89216 said:

GN2020 said:

DC89216 said:

Hi all,
Newby here. Not too sure on the process and what to expect.
I applied for an MIP on the 18th, it got approved a couple of days later and on the 21st I submitted the documents they requested (bank statements / pay slips / proof of address). I've now been told to wait 16 days until they are assessed. Is this correct? 
What can I do in the time waiting? What can I expect to happen in 16 days? Any help would be appreciated. 

My timeline is similar, got the AIP on 11th, full application submitted on the 18th, my broker said it could be 2-3 weeks before I hear anything at all.

Did you do this yourself or use a broker? 

All by myself. Threw myself in the deep end with this whole house buying experience after my living circumstances changed drastically around 6 weeks ago. Zero financial / banking / mortgage knowledge prior to this. I even went to a Nationwide branch yesterday to have a sit down and chat with somebody to try and explain things to me but I was constantly palmed off by saying it's all about ringing certain numbers for the help and advice and those people can't really do much.... Extremely stressful. 

Wow! I chickened out of doing it myself so kudos to you for doing that! 

It’s so stressful waiting for anything to be decided isn’t it! I imagine the actual physical move will be less stressful than this. 

It’s a sad sign of the times that it’s all done over the phone now...

How many bank statements were you asked to provide? Are you employed or self employed just out of curiosity? 

I have a friend who went through the same thing as me just last year so he's been extremely useful when it comes to the "stages". We're even using the same solictor. But he didn't go with Nationwide so this part is a little grey to me.
I'm more stressed now because I don't want to let the people down who we're buying the house from haha.
I am applying with my girlfriend, who is European, hence them asking for one or two extra things for her. We're both full time employed. I was only asked to supply 1 payslip (monthly) and 3 bank statements. I have 2 bank accounts so I provided 3 months worth for both Halifax and TSB. I also supplied my ISA savings statement. So 9 in total I believe. 10 included with my payslip.
My girlfriend was asked to submit 10 payslips (she's paid fortnightly) but we sent 12 just incase. And also 3 months bank statements, along with "proof of address and proof of identity". So we submitted a couple of council tax documents and her passport.
I think that's everything. I think it was 19-21 docs in total! 
Thankfully we have over the 10 percent deposit needed. But my only worry is me depositing 4k cash 3 weeks ago. 

Frances13

DC89216 said:

mh_ww said:

DC89216 said:

mh_ww said:

DC89216 said:

Hi all,
Newby here. Not too sure on the process and what to expect.
I applied for an MIP on the 18th, it got approved a couple of days later and on the 21st I submitted the documents they requested (bank statements / pay slips / proof of address). I've now been told to wait 16 days until they are assessed. Is this correct? 
What can I do in the time waiting? What can I expect to happen in 16 days? Any help would be appreciated. 

You may get another text in the meantime to say that a valutation has been booked, or you may just hear nothing. I applied on 13th Aug and only just hearing progress with mine in the last week or so. Nothing about the valuation stage yet.

Okay great. Thank you. This thread seems extremely useful.
So what have you heard recently? What kind of progress? Are you expecting to hear about a valuation soon? Sorry for being stupid but what does the valuation entail?

Had another this morning requesting proof of one of my deposit sources, which doesn't seem to have made it to them, so emailed that back straight away.

Did this not mean you had to wait another 2-3 weeks for the document to be checked? Also what do you mean by this? What kind of deposit was it and why did this need clarifying by them?
I am a tad worried because I deposited 4k cash into my account about 3 weeks ago knowing I'd need it for a deposit. Previously I'd saved that cash in my house for years. I'm hoping they don't reject me because of that. 

So we have been told that we have to wait until 2nd October for one document to be reviewed and that is all that is holding our case up.

Wales2020

chz211 said:

Unfortunately had mine declined today after 28 working days (FTB, 83% LTV) due to being in overdraft during one of the bank statements I provided. Has anyone had any experience with appealing a decision? I could not really find anything about the process online.

I have had a pay rise since my application and I was in only in an arranged overdraft (interest free) to pay off final debt from a Masters I completed 2 years ago, so I am hoping they might re-consider on appeal. 

Thats seems a bit ridiculous:-( how long were you in the overdraft for? Surely they have to reconsider :-(