Nationwide Mortgage

DC89216

kathonetwo34 said:

Getting so irritated, contracted the mb this morning, apparently nationwide are not happy with the explanation of where the deposit has come from! It's getting on my nerves now. My other half is rubbish with money so every month he gives me half of his wage. I save it between safe and bank, when we found a house I transferred from my bank and deposited the cash into his account. Didn't think it would be an issue. Wrote a statement and said it was savings figured that would be it. What a joke. Honestly lost all interest in this house now. Want them to just just say no and get it over with now 

Interesting. I deposited 6k (cash savings) so tried explaining that when submitting my documents. Safe to say they'll ask me to explain it further. 

What is your plan now? What have you done to get round this?

scots1991

Only on WD 11 and stressing so much that the offer is going to be declined. Not excited about getting the house anymore so dont know if I can cope if it goes 30+ days ( I get stressed easily  )
Timescale so far (85% LTV): 
Full app submitted: 18/09
Valuation booked on 25/09 for 29/09
Valuation received: 30/09 to be reviewed over next few days
Now waiting ....
For those who could see that a hard search was completed- could you see this on clearscore the day it happened or does it take a while to come through? At least if I can see they have done a credit check that's a move in the right direction!

Wales2020

scots1991 said:

Only on WD 11 and stressing so no much that the offer is going to be declined. Not excited about getting the house anymore so dont know if I can cope if it goes 30+ days ( I get stressed easily  )
Timescale so far (85% LTV): 
Full app submitted: 18/09
Valuation booked on 25/09 for 29/09
Valuation received: 30/09 to be reviewed over next few days
Now waiting ....
For those who could see that a hard search was completed- could you see this on clearscore the day it happened or does it take a while to come through? At least if I can see they have done a credit check that's a move in the right direction!

For us clearscore generated same time as monthly report but credit karma was instant we had notification email.

Frances13

scots1991 said:

Only on WD 11 and stressing so much that the offer is going to be declined. Not excited about getting the house anymore so dont know if I can cope if it goes 30+ days ( I get stressed easily  )
Timescale so far (85% LTV): 
Full app submitted: 18/09
Valuation booked on 25/09 for 29/09
Valuation received: 30/09 to be reviewed over next few days
Now waiting ....
For those who could see that a hard search was completed- could you see this on clearscore the day it happened or does it take a while to come through? At least if I can see they have done a credit check that's a move in the right direction!

I still haven't had a hard search and we applied on 12th August so I wouldn't hold out for it

scots1991

Wales2020 said:

For us clearscore generated same time as monthly report but credit karma was instant we had notification email.

Thanks so much! I apparently entered some identification verification questions wrong on Credit Karma so cant try again for another 30 days. I'll just have to be patient and wait

kathonetwo34

I placed 13k cash in his account walked next door to my bank and went to transfer the 5k over but my bank said it would take a few hours to show on his account. we needed to send the bank statements off, and it was the only day he had off work so we needed it all done that day, so I just took the money out went next door and put it in. Honestly didn't think it would be an issue. On his bank statements it shows that he gives a person (me) half his pay each month, weeks ago they asked about it and about how he got the deposit and it was explained, he gives me money each month and I save it for him. Now they have said they are not happy with Where the deposit has come from. We have explained again it is savings, the MA has said they haven't yet said no which is a good thing but it's 50/50 if they accept that it is infact savings. Don't know what else to do to be honest. It is savings!! Me and the other half are arguing now, I think they are having trouble accepting it is savings because his bank statements show that he spends most of his wage each and every month bar a few pennies. They don't seem to be taking in to account that he does transfer half his wage out which covers the saving and things he may need what ever is left then is spent on what ever he wants and he just blows it. If they didn't accept it is saving the first time they asked doubt they will now so looks like it's a no to me. Genuinely gutted MA said he expects the official word Friday Monday at the latest 😭

DC89216

kathonetwo34 said:

I placed 13k cash in his account walked next door to my bank and went to transfer the 5k over but my bank said it would take a few hours to show on his account. we needed to send the bank statements off, and it was the only day he had off work so we needed it all done that day, so I just took the money out went next door and put it in. Honestly didn't think it would be an issue. On his bank statements it shows that he gives a person (me) half his pay each month, weeks ago they asked about it and about how he got the deposit and it was explained, he gives me money each month and I save it for him. Now they have said they are not happy with Where the deposit has come from. We have explained again it is savings, the MA has said they haven't yet said no which is a good thing but it's 50/50 if they accept that it is infact savings. Don't know what else to do to be honest. It is savings!! Me and the other half are arguing now, I think they are having trouble accepting it is savings because his bank statements show that he spends most of his wage each and every month bar a few pennies. They don't seem to be taking in to account that he does transfer half his wage out which covers the saving and things he may need what ever is left then is spent on what ever he wants and he just blows it. If they didn't accept it is saving the first time they asked doubt they will now so looks like it's a no to me. Genuinely gutted MA said he expects the official word Friday Monday at the latest 😭

That is a shame. Looks like I'll be in a similar situation then... Disaster.

scots1991

Frances13 said:

I still haven't had a hard search and we applied on 12th August so I wouldn't hold out for it

oh god...good to know though. I was looking at other peoples timelines and they all seemed to have the check within 10 working days, but must depends on LTV etc. 

kathonetwo34

DC89216 said:

kathonetwo34 said:

I placed 13k cash in his account walked next door to my bank and went to transfer the 5k over but my bank said it would take a few hours to show on his account. we needed to send the bank statements off, and it was the only day he had off work so we needed it all done that day, so I just took the money out went next door and put it in. Honestly didn't think it would be an issue. On his bank statements it shows that he gives a person (me) half his pay each month, weeks ago they asked about it and about how he got the deposit and it was explained, he gives me money each month and I save it for him. Now they have said they are not happy with Where the deposit has come from. We have explained again it is savings, the MA has said they haven't yet said no which is a good thing but it's 50/50 if they accept that it is infact savings. Don't know what else to do to be honest. It is savings!! Me and the other half are arguing now, I think they are having trouble accepting it is savings because his bank statements show that he spends most of his wage each and every month bar a few pennies. They don't seem to be taking in to account that he does transfer half his wage out which covers the saving and things he may need what ever is left then is spent on what ever he wants and he just blows it. If they didn't accept it is saving the first time they asked doubt they will now so looks like it's a no to me. Genuinely gutted MA said he expects the official word Friday Monday at the latest 😭

That is a shame. Looks like I'll be in a similar situation then... Disaster.

MA has been on the phone and said that while we wait for an answer we can apply to another lender. It will be £200 for a valuation, then if nationwide say no we already have a back up. So confused, I mean if the deposit is an issue for nationwide won't we just run into the same issues again so had enough

Tonyw193

kathonetwo34 said:

DC89216 said:

kathonetwo34 said:

I placed 13k cash in his account walked next door to my bank and went to transfer the 5k over but my bank said it would take a few hours to show on his account. we needed to send the bank statements off, and it was the only day he had off work so we needed it all done that day, so I just took the money out went next door and put it in. Honestly didn't think it would be an issue. On his bank statements it shows that he gives a person (me) half his pay each month, weeks ago they asked about it and about how he got the deposit and it was explained, he gives me money each month and I save it for him. Now they have said they are not happy with Where the deposit has come from. We have explained again it is savings, the MA has said they haven't yet said no which is a good thing but it's 50/50 if they accept that it is infact savings. Don't know what else to do to be honest. It is savings!! Me and the other half are arguing now, I think they are having trouble accepting it is savings because his bank statements show that he spends most of his wage each and every month bar a few pennies. They don't seem to be taking in to account that he does transfer half his wage out which covers the saving and things he may need what ever is left then is spent on what ever he wants and he just blows it. If they didn't accept it is saving the first time they asked doubt they will now so looks like it's a no to me. Genuinely gutted MA said he expects the official word Friday Monday at the latest 😭

That is a shame. Looks like I'll be in a similar situation then... Disaster.

MA has been on the phone and said that while we wait for an answer we can apply to another lender. It will be £200 for a valuation, then if nationwide say no we already have a back up. So confused, I mean if the deposit is an issue for nationwide won't we just run into the same issues again so had enough

Surley Nationwide can match both bank transactions from your partners bank coming out to your bank going in. I would have thought it would be a similar process, unless your applying with a bank you both use, then they maybe able to see the obvious.