Nationwide Mortgage

hburnett163

coffeedude55 said:

hburnett163 said:

coffeedude55 said:

Posting my My timeline:
DIP 16/07
Mortgage App Submitted 28/07
Valuation booked 28/07
Valuation completed 09/08
Valuation reviewed and accepted 19/08
Documents resent 03/09 (had no idea they were missing) 
More documents requested 15/09
Escalated case 18/09
Mortgage Offer issued 21/09

may I ask what is meant by 'escalated case' and why this happened?

It was raised to be reviewed within 72 hours. It happened due to wanting to complete within a week and how long we had to wait.

that's really helpful! Our sellers are buying a new build which will be ready for them before the end of October and my broker has finally pulled his finger out and raised an escalation given we're working day 21 and our documents haven't even been reviewed nor have we had a valuation booked.

hburnett163

mitch20151412 said:

Hi everyone. I’ve been doing some research on Nationwide’s website tonight and I’ve worked out if we put in another £2,500 into our deposit we’d bring our LTV below 60% and our rate would come down by 0.25%. Is this something our MB should have suggested? Quite frustrating as our application is now submitted so I guess there’s no way of changing it. 

I would've thought so, if of course they were aware of your financial position and being able to put down the additional £2,500.
Our broker whilst patchy on reliability was good in the beginning in being transparent about all the options from 90% LTV to 85% LTV even though we had disclosed our full savings amount and a 15% deposit wasn't possible (for us) on the properties we were looking at. But it was helpful because if we hadn't been waiting for us to be able to do this move for so long (waiting to finish some studies) then we could've waited and saved up a bit more I suppose to get a better rate

bekabyx

gboy25 said:

Okay I'm getting seriously stressed now! Application went in 5th August! Still no vlaiation done! 

Mortgage broker seems to be on it and as far as I'm aware it came back from the underwriter and was okay other than another prof of deposit they wanted.
I just dont understand why booking the valuation is taking so long! The seller is stressing me out as she wants to be out by the middle of october but it feels like that is going to be impossible! 

Could be an issue with local availability? You could try giving NW a call yourself, although they're apparently being stingy with the updates. All you should need is your reference number which you can get from your broker (if you don't already have it).

gboy25

bekabyx said:

gboy25 said:

Okay I'm getting seriously stressed now! Application went in 5th August! Still no vlaiation done! 

Mortgage broker seems to be on it and as far as I'm aware it came back from the underwriter and was okay other than another prof of deposit they wanted.
I just dont understand why booking the valuation is taking so long! The seller is stressing me out as she wants to be out by the middle of october but it feels like that is going to be impossible! 

Could be an issue with local availability? You could try giving NW a call yourself, although they're apparently being stingy with the updates. All you should need is your reference number which you can get from your broker (if you don't already have it).

Thank you. I might ring myself on monday if I've heard nothing else by the end of the week. The mortage advisor has laid it on really thick the last email asking for urgency so I'm hoping something comes from it! 

mh_ww

bekabyx said:

mh_ww said:

That's great news. Hoping we hear something this week, rolling on to wd33 tomorrow 😵

The first time I saw your sig and that you'd applied on the 13th August and heard virtually nothing yet I had a full-on meltdown on your behalf. I don't know how you're coping so well 
Keeping my fingers and toes crossed for you!

I don't know how I'm coping either 😂. I dread receiving an email asking for some other piece of information that will take ages to review. And if the valuation gets booked in then it's going to be however long for that! Just concerned as it seems everybody else one way or another has had it booked and sorted within the first few weeks.

Carmenxox

My buyer finally got their offer today...28 working days later.

Now I can start feeling excited again!

Carmenxox

I forgot to mention, if it helps anyone - Keep an eye on their timelines on their website. If anything surpasses those dates contact Nationwide to escalate your case. I believe they have to respond to escalated cases within 72 hours.

bec820

Carmenxox said:

My buyer finally got their offer today...28 working days later.

Now I can start feeling excited again!

Hooray! And this is good to know thanks as we are working day 26 so hopefully our turn next?! 

Tonyw193

We asked the MB if there had been any updates today. Been told that the valuation is fine, however theyve asked for more documentation. Hopefully thats all they need now. Just hoping its not going to be long for them to look at it although website stating 9 days. 

bec820

Tonyw193 said:

We asked the MB if there had been any updates today. Been told that the valuation is fine, however theyve asked for more documentation. Hopefully thats all they need now. Just hoping its not going to be long for them to look at it although website stating 9 days. 

What documents have they asked for please? I'm concerned that we will be asked for more because we have had 2 more paydays each since our application.