Nationwide Mortgage

lancslass26

lemliss said:

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. 

Yeah that's really bad. I take it your MB is pushing for earlier date? Is it that you need a physical valuation whereas they thought a desktop would suffice ?

whatislife786

My timeline so far:
7/07/20 - Offer accepted

8/07/20 - decision in principle

08/07/20 - full application submitted

09/07/20 - valuation booked and completed same day ( home report provided Scotland)
11/07/20- 6 months bank statements and p60 requested (provided same day)
19/07/20- hard search carried out
still waiting hate waiting.......

lemliss

Yeah my MB is furious. 
Apparently so. They said it was put through as an off plan. I already live in the house (we rent it) and got first refusal to buy. Landlord is now getting cold feet as apparently has a cash buyer. It's so awful because this is the house we live in and love and we want it, we always said we wanted to buy it and the agreement was we could. Unfortunately the landlords circumstances have changed and they need to sell it sooner rather than later. Sigh.

lancslass26

lemliss said:

Yeah my MB is furious. 
Apparently so. They said it was put through as an off plan. I already live in the house (we rent it) and got first refusal to buy. Landlord is now getting cold feet as apparently has a cash buyer. It's so awful because this is the house we live in and love and we want it, we always said we wanted to buy it and the agreement was we could. Unfortunately the landlords circumstances have changed and they need to sell it sooner rather than later. Sigh.

lemliss said:

Yeah my MB is furious. 
Apparently so. They said it was put through as an off plan. I already live in the house (we rent it) and got first refusal to buy. Landlord is now getting cold feet as apparently has a cash buyer. It's so awful because this is the house we live in and love and we want it, we always said we wanted to buy it and the agreement was we could. Unfortunately the landlords circumstances have changed and they need to sell it sooner rather than later. Sigh.

I can't remember where on the NW website, but it does say that if you're approaching exchange deadline then the case should be escalated. Probably the escalation queue is just as long as the normal but worth a try if not already done. So annoying isn't it. The government announced the stamp duty reductions and failed to forsee that banks are still overly cautious with lending and is creating backlogs and potentially us buyers are going to lose out on a house purchase and funds already forked out.

leodis23

Going through the process with Nationwide now, here's my timeline:

• Mid-June - AIP from broker (Habito)
• 6th July - Viewing
• 6th July - 1st offer submitted
• 21st July - Agreed 3rd counter-offer with seller
• 22nd July - Solicitor appointed & finished full application through Habito
• 26th July - Nationwide confirm they've received it by text. Soft search reported through Transunion (Credit Karma & MoneySupermarket app)
  
• 30th July - Email from broker saying that I'm in a queue because of the big surge post-lockdown, so things are going a bit slower
• 3rd August - Chased broker again. Still no word on a valuation.
  

I'm an existing NW customer, but not expecting it to be as speedy as other people have mentioned, particularly with them just adding their 90% LTV product back (which as a FTB I've had to take)

BillStruthBear

We had an offer from NW but unfortunately COVID took our new build date beyond the latest date NW were willing to extend to so we had to resubmit a new application. 

DIP - 17th July 
Full application - 17th July
Hard credit check - 27th July
Additional information requests on 27th July - my wife is self-employed, she took the SEISS and continued to work through so we sent them evidence of her trading as normal with no drop-off in income (works in healthcare). They also asked for proof of our deposit (something they didn't actually do last time...!). 

We had to provide updated payslips for myself to confirm I hadn't been furloughed or anything and also my wife's latest tax year overview, which probably actually works in our favour slightly. The years they judged us on previously she was pretty much part-time whereas last year was a great year working full-time. 
Now waiting to hear back. There's always a worry the underwriter comes back with something, so hopefully hear back soon and put my mind at ease. Not heard anything about another valuation, the estate we're buying in has seen high demand for our house type and the latest one they put up was priced at £7k more than ours and sold inside 2 days, so the demand appears to be there, but I have no idea how these things are done.

firsttimebuyerlpl

FTB here also. Our timeline so far: 
22nd July - Mortgage application submitted - text confirmation
22nd July  - Confirmation that a valuation has been booked for the 28th July
23rd July - Clearscore showing that a financial associated has been added to my credit report - Does this mean the application is approved?
24th July - MA asked for latest payslip as we both got paid after the application was submitted - sent across
28th July - Assuming valuation has been done. we havent heard any different from NW or MA. 

today (29th) we are still waiting on word from NW or MA to confirm if the valuation was satisfactory or not. Is this a good or bad sign? I dont want to chase our MA just yet as the valuation was only completed yesterday. We havent been asked for any further documents so not sure if this a good sign either. Havent seen a hard search on my credit report yet - not sure on my partners.
Nervous that things arent going to go through as I've heard NW are being strict on all applications.

lancslass26

firsttimebuyerlpl said:

FTB here also. Our timeline so far: 
22nd July - Mortgage application submitted - text confirmation
22nd July  - Confirmation that a valuation has been booked for the 28th July
23rd July - Clearscore showing that a financial associated has been added to my credit report - Does this mean the application is approved?
24th July - MA asked for latest payslip as we both got paid after the application was submitted - sent across
28th July - Assuming valuation has been done. we havent heard any different from NW or MA. 

today (29th) we are still waiting on word from NW or MA to confirm if the valuation was satisfactory or not. Is this a good or bad sign? I dont want to chase our MA just yet as the valuation was only completed yesterday. We havent been asked for any further documents so not sure if this a good sign either. Havent seen a hard search on my credit report yet - not sure on my partners.
Nervous that things arent going to go through as I've heard NW are being strict on all applications.

Hi, here is the link for the service timescales that NW update each day https://www.nationwide-intermediary.co.uk/placing-business/service-updates
I've also had financial association added to clearscore because of the application but no hard search performed or showing via Equifax yet so until the underwriters actually do their part. Think if you are COVID unaffected and basic employment then might be electronically underwritten. Any Self employment (genuine self emp or company director) then needs manual underwriter.

leodis23

 Should I be worried that I didn't get a valuation text on the same day as my application confirmation? Seems to be quite a common thread here, and I've only had silence for 3 days

lancslass26

leodis23 said:

 Should I be worried that I didn't get a valuation text on the same day as my application confirmation? Seems to be quite a common thread here, and I've only had silence for 3 days

No don’t worry. We did DIP on 13/7 then full app 16/7, received text / email from NW to confirm application. Then got valuation text / email on 21/7.