Nationwide Mortgage

mh_ww

RLG1234 said:

Just had my offer finally 🎉🎉
90%LTV FTB
13/08: full application
23/08: hard search
22/09: escalated to BM
22/09: Asked for 2 further payslips
25/09: Offered a loan value £2000 less than we asked for so had to fork out an extra £2000 for deposit
28/09: fully underwritten and agreed by a senior manager
30/09: valuation booked for 1/10
1/10: valuation received and literally 5 minutes later - offer given 
35 working day wait - hang in there people!

That's great news. Same application date as us as well. I should probably request the application be escalated but not sure on what grounds other than the time passed as we're not buying in to a chain and no time pressure.

hburnett163

Tonyw193 said:

hburnett163 said:

Spoke with nationwide on phone this morning and they wanted bank statements for my partner (seems to have issues with all his documents!) and a form from our broker. Reckon we’ll be at the back of the queue again, still no valuation booked and broker said it’s likely to be physical rather than desktop so will take longer

Did you ask them why a valuation hasnt been booked? I read someone in this forum one of those applying was self employed so they done all of the under writing first and then the valuation. It just seems like its going to take forever for you. As they state 10 days just to view the valuation report 

Yes, they said our case is still at the refer stage because underwriters haven’t looked at it yet to push it through to the decision stage. Neither of us self employed, been with the same employer for 6 years and have not been impacted by furlough in any way. We thought it would be a straightforward case as we didn’t need to prove coming off furlough or job security but alas here we are going into working day 23 without even having my case being looked at by an underwriter!

hburnett163

I wonder how well this will go down/helpful it is but as a bit of a nerd I’d find it very interesting to know if there’s a difference in speed of processes in different areas? I’ve stuck my location of property in my signature, anyone else buying in Kent struggling to get a valuation? Or have had their valuation and what timeline it was to book and receive the report?

Tonyw193

hburnett163 said:

Tonyw193 said:

hburnett163 said:

Spoke with nationwide on phone this morning and they wanted bank statements for my partner (seems to have issues with all his documents!) and a form from our broker. Reckon we’ll be at the back of the queue again, still no valuation booked and broker said it’s likely to be physical rather than desktop so will take longer

Did you ask them why a valuation hasnt been booked? I read someone in this forum one of those applying was self employed so they done all of the under writing first and then the valuation. It just seems like its going to take forever for you. As they state 10 days just to view the valuation report 

Yes, they said our case is still at the refer stage because underwriters haven’t looked at it yet to push it through to the decision stage. Neither of us self employed, been with the same employer for 6 years and have not been impacted by furlough in any way. We thought it would be a straightforward case as we didn’t need to prove coming off furlough or job security but alas here we are going into working day 23 without even having my case being looked at by an underwriter!

It sound's a total headache! At least they've done a hard search which is something. Hopefully your area isnt to busy and you can get the valuation booked and approved rather quickly. Hopefully when the valuation is complete its just a case of giving you the offer. 

xMeganCL

Got my paperwork in today and it's incorrect 🙈 need to wait for them to change it now.
They've put the incorrect purchase price. They've put the valuation price rather than the actual purchase price (£1100 more).
Solicitor says it's an easy fix as the loan amount is correct, but nothing seems to be easy with them 😂

Tonyw193

xMeganCL said:

Got my paperwork in today and it's incorrect 🙈 need to wait for them to change it now.
They've put the incorrect purchase price. They've put the valuation price rather than the actual purchase price (£1100 more).
Solicitor says it's an easy fix as the loan amount is correct, but nothing seems to be easy with them 😂

😂😂 Its not over till its over then! 

Wales2020

xMeganCL said:

Got my paperwork in today and it's incorrect 🙈 need to wait for them to change it now.
They've put the incorrect purchase price. They've put the valuation price rather than the actual purchase price (£1100 more).
Solicitor says it's an easy fix as the loan amount is correct, but nothing seems to be easy with them 😂

Thats annoying but at least the loan amount is correct, that would be a headache!

i bet you feel so relieved now you have the offer. 

OneOfThem12

Wow, finally got the email saying my documents have been checked and passed on for full assesment. Another 10 working days now!

For anyone confused by the process, I spoke to one of the advisors at Nationwide and they explained that any case that has been referred e.g. above 85% LTV or self employed that the case and documents will first be checked by a particular team (10 working days).

Then if everything is okay (ours wasn't they needed another document and we went to the back of the queue - 10 working days) it is sent over to the underwriters for full assesment (another 10 working days), rather than booking the valuation in straight away as they do not want to waste money if an application fails - although I have seen people with a 90% LTV have their valuation booked straight away so who knows.

Once it is approved by the underwriters the valuation is then booked in. So here with our fingers crossed!

bekabyx

mh_ww said:

That's great news. Same application date as us as well. I should probably request the application be escalated but not sure on what grounds other than the time passed as we're not buying in to a chain and no time pressure.

I don't know if they'll accept time passed, but if they've exceeded their timescale it might be worth a try? You've been waiting so long

Frances13

Working day 36... I'm losing the will to live here...