Nationwide Mortgage Timescale

hughes1497

I am a FTB and applied to Nationwide through a mortgage advisor/broker. I M applying solely in my name. Purchase price is £128500. Looking to borrow £93500. We are taking £25k from first home fund and Putting £10k deposit down from lifetime isa. Current timeline is:
1) Offer accepted on 30th June.
2) mortgage application went into nationwide 14th July (2 week gap was because we were initially going with Barclays but that fell through)
3) application recieved 16th july
4) valuation booked for 17th July and provided same day (scotland - home buyers report) 
5) application update 24th July stating below:
 Application update

We've received all requested documents and your clients mortgage application has now been passed for full assessment. If we need anything further we'll let you know.

My question is?

1) would they have declined before now if any major issue? 

I can’t stop worrying that the house is going to fall through if we don’t complete on time as this is holding up the missives.

My mortgage advisor seems to be fairly confident about the application yet he was with Barclays where we encountered issues so I have little faith.  

MBJUK

hughes1497 said:

I am a FTB and applied to Nationwide through a mortgage advisor/broker. I M applying solely in my name. Purchase price is £128500. Looking to borrow £93500. We are taking £25k from first home fund and Putting £10k deposit down from lifetime isa. Current timeline is:
1) Offer accepted on 30th June.
2) mortgage application went into nationwide 14th July (2 week gap was because we were initially going with Barclays but that fell through)
3) application recieved 16th july
4) valuation booked for 17th July and provided same day (scotland - home buyers report) 
5) application update 24th July stating below:
 Application update

We've received all requested documents and your clients mortgage application has now been passed for full assessment. If we need anything further we'll let you know.

My question is?

1) would they have declined before now if any major issue? 

I can’t stop worrying that the house is going to fall through if we don’t complete on time as this is holding up the missives.

My mortgage advisor seems to be fairly confident about the application yet he was with Barclays where we encountered issues so I have little faith.  

My application went in 13th July, and we got a response initially rejecting us, but asking for more evidence of my income being sustainable for the affordability check to be rerun last Tuesday (useless broker at L&C didn't tell us until Friday). It's going to be another 5 days minimum for our new documentation to be reviewed (frustrating, as we had already provided evidence to the broker and they didn't submit all of the documents we initially gave them).

https://www.nationwide-intermediary.co.uk/placing-business/service-updates should give you an idea of current timescales.

hughes1497

MBJUK said:

hughes1497 said:

I am a FTB and applied to Nationwide through a mortgage advisor/broker. I M applying solely in my name. Purchase price is £128500. Looking to borrow £93500. We are taking £25k from first home fund and Putting £10k deposit down from lifetime isa. Current timeline is:
1) Offer accepted on 30th June.
2) mortgage application went into nationwide 14th July (2 week gap was because we were initially going with Barclays but that fell through)
3) application recieved 16th july
4) valuation booked for 17th July and provided same day (scotland - home buyers report) 
5) application update 24th July stating below:
 Application update

We've received all requested documents and your clients mortgage application has now been passed for full assessment. If we need anything further we'll let you know.

My question is?

1) would they have declined before now if any major issue? 

I can’t stop worrying that the house is going to fall through if we don’t complete on time as this is holding up the missives.

My mortgage advisor seems to be fairly confident about the application yet he was with Barclays where we encountered issues so I have little faith.  

My application went in 13th July, and we got a response initially rejecting us, but asking for more evidence of my income being sustainable for the affordability check to be rerun last Tuesday (useless broker at L&C didn't tell us until Friday). It's going to be another 5 days minimum for our new documentation to be reviewed (frustrating, as we had already provided evidence to the broker and they didn't submit all of the documents we initially gave them).

Oh no - I'm sorry about that! That is really frustrating and I've heard quite a bit of bad reviews about L&C which is even more frustrating as Martin Lewis recommends them so highly! Hopefully you get a response asap!

So my application has been in since July 14th and had no issues so far, hard search carried out yesterday also so I'm hoping no news is good news right now! All documentation has been provided as requested initially so fingers crossed!

Loglog

hughes1497 said:

I am a FTB and applied to Nationwide through a mortgage advisor/broker. I M applying solely in my name. Purchase price is £128500. Looking to borrow £93500. We are taking £25k from first home fund and Putting £10k deposit down from lifetime isa. Current timeline is:
1) Offer accepted on 30th June.
2) mortgage application went into nationwide 14th July (2 week gap was because we were initially going with Barclays but that fell through)
3) application recieved 16th july
4) valuation booked for 17th July and provided same day (scotland - home buyers report) 
5) application update 24th July stating below:
 Application update

We've received all requested documents and your clients mortgage application has now been passed for full assessment. If we need anything further we'll let you know.

My question is?

1) would they have declined before now if any major issue? 

I can’t stop worrying that the house is going to fall through if we don’t complete on time as this is holding up the missives.

My mortgage advisor seems to be fairly confident about the application yet he was with Barclays where we encountered issues so I have little faith.  

My full submission was made by the MB on 13th July and was told the valuation was carried out on 16th. Then, I was told that the valuation passed on 24th and a hard search appeared yesterday 25th on the system. Submitted all the documents required by the MB on 13th and since then, all I've had are these generic updates from the MB. The waiting is very dreadful. 

lemliss

Been advised this morning that Nationwide are receiving valuations but not uploading them as quickly as they should as they are swamped. Been a week today since my valuation and it is still not showing on their end, another 5 days once they receive it to assess (minimum) 
getting frustrated to be honest given that we were advised Nationwide were quite fast. Haha 

Thrugelmir

lemliss said:

Been advised this morning that Nationwide are receiving valuations but not uploading them as quickly as they should as they are swamped. 

Nationwide have furloughed over 300 staff and will likewise have employees working from home. Service levels are what they are. 

lemliss

Thrugelmir said:

lemliss said:

Been advised this morning that Nationwide are receiving valuations but not uploading them as quickly as they should as they are swamped. 

Nationwide have furloughed over 300 staff and will likewise have employees working from home. Service levels are what they are. 

I'm aware and sympathetic as we have staff furloughed too. But they originally told us from valuation to the report being sent is a max of 3 days and the  5 days for assessment. Its frustrating as the seller of the house is breathing down my neck asking for updates daily and I have nothing to tell them apart from what I've been told. It going from 3 days to 7 before it even starts assessment is quite a jump.

hughes1497

Help! I'm so frustrated. Current timeline below:
14/07 - mortgage application submitted
17/07 - mortgage application received by nationwide
17/07 - valuation instructed and provided same day (home buyers report - scotland)
24/07 - update from nationwide to say full application passed to underwriters
27/07 - further documentation request from underwriters - provided same day 

One of the documents the underwriters needed was proof my credit card balance was paid off which it is but the statement will not bill until august 10th so I have showed them a screenshot of credit card balance on app being £0, my previous statement from month before and the transaction from current account which shows me paying off the statement amount. Is this enough?

Has anyone else had a similar experience from Nationwide and how long it took after further documents to be reviewed? I'm equally frustrated as I had to call nationwide for the update this morning as the MA is useless in my opinion and is not doing everything he can (I got update this morning, called him to see if he had heard anything and he said no yet they emailed him just after 9am)...

lemliss

hughes1497 said:

Help! I'm so frustrated. Current timeline below:
14/07 - mortgage application submitted
17/07 - mortgage application received by nationwide
17/07 - valuation instructed and provided same day (home buyers report - scotland)
24/07 - update from nationwide to say full application passed to underwriters
27/07 - further documentation request from underwriters - provided same day 

One of the documents the underwriters needed was proof my credit card balance was paid off which it is but the statement will not bill until august 10th so I have showed them a screenshot of credit card balance on app being £0, my previous statement from month before and the transaction from current account which shows me paying off the statement amount. Is this enough?

Has anyone else had a similar experience from Nationwide and how long it took after further documents to be reviewed? I'm equally frustrated as I had to call nationwide for the update this morning as the MA is useless in my opinion and is not doing everything he can (I got update this morning, called him to see if he had heard anything and he said no yet they emailed him just after 9am)...

Every document I've sent has taken 5 working days to be reviewed. X

Steve_KCS

Found nationwide to be extremely quick. 6 days from FMA to Offer 

thaddy

hughes1497 said:

Help! I'm so frustrated. Current timeline below:
14/07 - mortgage application submitted
17/07 - mortgage application received by nationwide
17/07 - valuation instructed and provided same day (home buyers report - scotland)
24/07 - update from nationwide to say full application passed to underwriters
27/07 - further documentation request from underwriters - provided same day 

One of the documents the underwriters needed was proof my credit card balance was paid off which it is but the statement will not bill until august 10th so I have showed them a screenshot of credit card balance on app being £0, my previous statement from month before and the transaction from current account which shows me paying off the statement amount. Is this enough?

Has anyone else had a similar experience from Nationwide and how long it took after further documents to be reviewed? I'm equally frustrated as I had to call nationwide for the update this morning as the MA is useless in my opinion and is not doing everything he can (I got update this morning, called him to see if he had heard anything and he said no yet they emailed him just after 9am)...

We applied on 10 July and had the request for our balances on the 20th which was the same day as hard credit check. Who is your credit card with? I submitted the same evidence as you but managed to get an interim statement from Barclaycard afterwards so will send that in if requested again. Valuation was on the 24th so I guess it's now a waiting game. How did you know your application was with the underwriters? Did your receive any texts about your valuation report?