Nationwide Mortgage

kathonetwo34

Tonyw193 said:

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. 

We are not applying for a joint mortgage. He's is applying on his own. So they haven't asked for my bank statements. Mortgage adviser hasn't either. His bank statements do show money going from his to my account and from mine to his regularly. More come from his to mine than vise versa so you would think they would use some common sense.

Frances13

kathonetwo34 said:

Tonyw193 said:

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. 

We are not applying for a joint mortgage. He's is applying on his own. So they haven't asked for my bank statements. Mortgage adviser hasn't either. His bank statements do show money going from his to my account and from mine to his regularly. More come from his to mine than vise versa so you would think they would use some common sense.

I think the issue would be the cash withdrawals and then paying it back in, unfortunately it can look like money laundering and the banks need to protect themselves. It's also a difficult one because if the mortgage is in his name but he isn't great at saving, then if everything goes to pot and interest rates jump up to 10%, how will he afford to pay the mortgage if he is spending everything bar a few pennies.

I really hope it does come out in the wash and you get the mortgage you want  

kathonetwo34

Frances13 said:

kathonetwo34 said:

Tonyw193 said:

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. 

We are not applying for a joint mortgage. He's is applying on his own. So they haven't asked for my bank statements. Mortgage adviser hasn't either. His bank statements do show money going from his to my account and from mine to his regularly. More come from his to mine than vise versa so you would think they would use some common sense.

I think the issue would be the cash withdrawals and then paying it back in, unfortunately it can look like money laundering and the banks need to protect themselves. It's also a difficult one because if the mortgage is in his name but he isn't great at saving, then if everything goes to pot and interest rates jump up to 10%, how will he afford to pay the mortgage if he is spending everything bar a few pennies.

I really hope it does come out in the wash and you get the mortgage you want  

 Whilst he is not great with money he always pays what he needs, no debt no credit cards etc. As the bills are all in my name, it's seemed silly to change them over so he gave me what was needed and I payed them honestly didn't think anything of it. What ever is left after I have sorted the essentials out he keeps and spends, it has been the source of many arguments, but he always argues well everything's payed so who cares. I save what's left from what he gives me. I totally understand the banks position, however they have asked the same question twice! If they were not happy with the explanation the first time just say no. Instead weeks have gone by, valuation has been done, solicitors are half way through searches, the vendors are twiddling there thumbs waiting, it just seems like they are unnecessarily dragging it out. The MA was made aware from day dot that the savings were in cash, he said it wouldn't be a proplem and to place it in to an account when we could so we did. He is now saying 50/50 if they say yes but we should think about trying another lender at further cost? Surly they will have the same issues?? I am the complete opposite to my other half I am very frugal and the idea of wasting yet more money and time for nothing just doesn't appeal to me. Looks like a long wait till Monday the latest MA has said 

LZRBOI

Apparently the valuation took place this morning. Everything seems to be progressing so quickly this time round! Seems like there is going to be a catch ha!

Wales2020

kathonetwo34 said:

Frances13 said:

kathonetwo34 said:

Tonyw193 said:

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. 

We are not applying for a joint mortgage. He's is applying on his own. So they haven't asked for my bank statements. Mortgage adviser hasn't either. His bank statements do show money going from his to my account and from mine to his regularly. More come from his to mine than vise versa so you would think they would use some common sense.

I think the issue would be the cash withdrawals and then paying it back in, unfortunately it can look like money laundering and the banks need to protect themselves. It's also a difficult one because if the mortgage is in his name but he isn't great at saving, then if everything goes to pot and interest rates jump up to 10%, how will he afford to pay the mortgage if he is spending everything bar a few pennies.

I really hope it does come out in the wash and you get the mortgage you want  

 Whilst he is not great with money he always pays what he needs, no debt no credit cards etc. As the bills are all in my name, it's seemed silly to change them over so he gave me what was needed and I payed them honestly didn't think anything of it. What ever is left after I have sorted the essentials out he keeps and spends, it has been the source of many arguments, but he always argues well everything's payed so who cares. I save what's left from what he gives me. I totally understand the banks position, however they have asked the same question twice! If they were not happy with the explanation the first time just say no. Instead weeks have gone by, valuation has been done, solicitors are half way through searches, the vendors are twiddling there thumbs waiting, it just seems like they are unnecessarily dragging it out. The MA was made aware from day dot that the savings were in cash, he said it wouldn't be a proplem and to place it in to an account when we could so we did. He is now saying 50/50 if they say yes but we should think about trying another lender at further cost? Surly they will have the same issues?? I am the complete opposite to my other half I am very frugal and the idea of wasting yet more money and time for nothing just doesn't appeal to me. Looks like a long wait till Monday the latest MA has said 

I would also be concerned that even if they do accept it that the solicitor will then not raise the same queries under their own AML checks. I’m sure you’ve spoken to them but worth checking if you haven't. Hope it get resolved. 

kathonetwo34

Wales2020 said:

kathonetwo34 said:

Frances13 said:

kathonetwo34 said:

Tonyw193 said:

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. 

We are not applying for a joint mortgage. He's is applying on his own. So they haven't asked for my bank statements. Mortgage adviser hasn't either. His bank statements do show money going from his to my account and from mine to his regularly. More come from his to mine than vise versa so you would think they would use some common sense.

I think the issue would be the cash withdrawals and then paying it back in, unfortunately it can look like money laundering and the banks need to protect themselves. It's also a difficult one because if the mortgage is in his name but he isn't great at saving, then if everything goes to pot and interest rates jump up to 10%, how will he afford to pay the mortgage if he is spending everything bar a few pennies.

I really hope it does come out in the wash and you get the mortgage you want  

 Whilst he is not great with money he always pays what he needs, no debt no credit cards etc. As the bills are all in my name, it's seemed silly to change them over so he gave me what was needed and I payed them honestly didn't think anything of it. What ever is left after I have sorted the essentials out he keeps and spends, it has been the source of many arguments, but he always argues well everything's payed so who cares. I save what's left from what he gives me. I totally understand the banks position, however they have asked the same question twice! If they were not happy with the explanation the first time just say no. Instead weeks have gone by, valuation has been done, solicitors are half way through searches, the vendors are twiddling there thumbs waiting, it just seems like they are unnecessarily dragging it out. The MA was made aware from day dot that the savings were in cash, he said it wouldn't be a proplem and to place it in to an account when we could so we did. He is now saying 50/50 if they say yes but we should think about trying another lender at further cost? Surly they will have the same issues?? I am the complete opposite to my other half I am very frugal and the idea of wasting yet more money and time for nothing just doesn't appeal to me. Looks like a long wait till Monday the latest MA has said 

I would also be concerned that even if they do accept it that the solicitor will then not raise the same queries under their own AML checks. I’m sure you’ve spoken to them but worth checking if you haven't. Hope it get resolved. 

This is what I find just bizzare,the solicitor has been given the same bank statements as nationwide, weeks ago as of yet they haven't mentioned anything about the deposit, we checked with them that all was ok and and if they needed anything and they said no, didn't mention anything about it.  The money can be traced not easily but it can be. It would require 5 years of his bank statements that show cash sums being removed from his account. And we could track back and explain them all, Every month, This money was placed in "safe at home" then in the last year due to pandemic really the cash was transferred direct to me. He has earned extra by selling a few cars not enough to be a trader but enough to add a few extra pounds to the pot. I think it's time I accept the inevitable, and just admit defeat.  All this stress has seriously dented our relationship. I honestly I Just don't understand why MA, didnt say this would be an issue months ago. We are  First time buyers, we had no idea 

scots1991

kathonetwo34 said:

This is what I find just bizzare,the solicitor has been given the same bank statements as nationwide, weeks ago as of yet they haven't mentioned anything about the deposit, we checked with them that all was ok and and if they needed anything and they said no, didn't mention anything about it.  The money can be traced not easily but it can be. It would require 5 years of his bank statements that show cash sums being removed from his account. And we could track back and explain them all, Every month, This money was placed in "safe at home" then in the last year due to pandemic really the cash was transferred direct to me. He has earned extra by selling a few cars not enough to be a trader but enough to add a few extra pounds to the pot. I think it's time I accept the inevitable, and just admit defeat.  All this stress has seriously dented our relationship. I honestly I Just don't understand why MA, didnt say this would be an issue months ago. We are  First time buyers, we had no idea 

No one on here can say if it will be ok or not, best thing to do is just wait and see what Nationwide say.
I did however read this link which mentions Cash Deposits so would have thought your MA or solicitor may have mentioned something about it potentially being tricky:  https://www.onlinemortgageadvisor.co.uk/deposits/proof-of-deposit-for-a-mortgage/
But as you said, you can prove it through past bank statements- so just keep your fingers crossed.
Also don't let it impact your relationship- its not worth it! You will look back in a few years time and think it was stupid to argue about. It's just a house and there will be plenty more out there, so if worst comes to worst, just see it as a learning curve and chat to your MA about next steps.
Hope it all works out

xMeganCL

My MA days that apparently my paperwork has been corrected, but I haven't gotten it yet, and my solicitor isn't replying to my emails 🙄

mh_ww

Approaching 5pm and looks like that's another day come and gone. 

Hannabear2016

Tonyw193 said:

Hannabear2016 said:

Tonyw193 said:

Hannabear2016 said:

Frances13 said:

Hannabear2016 said:

mh_ww said:

Here we go then, working day 36. Might even get a valuation this week 

Day 39 for us! Good luck, let's hope this week brings some good news for all of everyone! 

Day 37 for us! Found out the only reason we didn't hear back on Friday was because our adviser added a note to our application which pushed us to the back of the queue again.... so infuriating. 

Good luck all!

I feel your frustration. Did you call NW directly? I'm so tempted to call them, but have read on another thread that bypassing the broker and going straight to the lender might confuse things. We're so close to getting an answer, but it still feels like it'll never come! 

Ive been on the online chat to Nationwide, it may be different to on the phone. The advisor there mentioned they had read only access.so i dont think they could amend anything Although to be honest they didnt actually provide anything useful. 

I decided to bite the bullet and call NW. Apparently the docs and answers to required info wasnt uploaded by our broker until last Tuesday (despite providing 5 days before) and our application has only just been sent to the underwriters this morning, who have a 10 day lead time. So not expecting to get an answer until the 19th Oct! 🤯🤯🤯

So frustrating! As you'd have been half way through that process now. Hopefully it wont take as long theyre quoting. Its just a never ending process. 

Finally after 38 WD - we got the text through to say our offer has been issued! Such a relief! 😁