Mortgage broker - ask me anything

haras_n0sirrah

fingersallcrossed2020 said:

Hi

We are currently on working day 29 with our mortgage application with Nationwide. Is anyone able to advise why the timeframe is so long? The sellers estate agents are chasing me up. I feel so stressed out! Do you think after all this time it’s just going to be a no? Should we start another application with another lender? 

Nationwide is very very slow due to them being one of the only 90% lenders around. Are you buying at 90%
I am advising my clients not to use them unless we have no choice as this is the timescale they are currently offering

fingersallcrossed2020

haras_n0sirrah said:

fingersallcrossed2020 said:

Hi

We are currently on working day 29 with our mortgage application with Nationwide. Is anyone able to advise why the timeframe is so long? The sellers estate agents are chasing me up. I feel so stressed out! Do you think after all this time it’s just going to be a no? Should we start another application with another lender? 

Nationwide is very very slow due to them being one of the only 90% lenders around. Are you buying at 90%
I am advising my clients not to use them unless we have no choice as this is the timescale they are currently offering

Thanks for the quick reply. We are 85%. Sold our house last year, currently in rented accommodation. We are so desperate to move!

LMJ10

Why do lenders who post their criteria online, you fit perfectly but when they come to doing a DIP they move the goal posts and then suddenly you don’t fit!!?

haras_n0sirrah

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

Hi

We are currently on working day 29 with our mortgage application with Nationwide. Is anyone able to advise why the timeframe is so long? The sellers estate agents are chasing me up. I feel so stressed out! Do you think after all this time it’s just going to be a no? Should we start another application with another lender? 

Nationwide is very very slow due to them being one of the only 90% lenders around. Are you buying at 90%
I am advising my clients not to use them unless we have no choice as this is the timescale they are currently offering

Thanks for the quick reply. We are 85%. Sold our house last year, currently in rented accommodation. We are so desperate to move!

I have to be honest - at 85% I would have swerved nationwide. Is there a reason it is taking so long? Do they keep asking for documents? 
I have one in with them which is approved subject to valuation and that was submitted 21st oct - are you self employed?

haras_n0sirrah

LMJ10 said:

Why do lenders who post their criteria online, you fit perfectly but when they come to doing a DIP they move the goal posts and then suddenly you don’t fit!!?

I may be biased as a broker but this is where brokers are worth having - we a) know the criteria and whether you are likely to fit and b) can check things in advance

fingersallcrossed2020

haras_n0sirrah said:

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

Hi

We are currently on working day 29 with our mortgage application with Nationwide. Is anyone able to advise why the timeframe is so long? The sellers estate agents are chasing me up. I feel so stressed out! Do you think after all this time it’s just going to be a no? Should we start another application with another lender? 

Nationwide is very very slow due to them being one of the only 90% lenders around. Are you buying at 90%
I am advising my clients not to use them unless we have no choice as this is the timescale they are currently offering

Thanks for the quick reply. We are 85%. Sold our house last year, currently in rented accommodation. We are so desperate to move!

I have to be honest - at 85% I would have swerved nationwide. Is there a reason it is taking so long? Do they keep asking for documents? 
I have one in with them which is approved subject to valuation and that was submitted 21st oct - are you self employed?

Really? Who do you think we should have gone with? No neither of us are self employed. 

fingersallcrossed2020

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

Hi

We are currently on working day 29 with our mortgage application with Nationwide. Is anyone able to advise why the timeframe is so long? The sellers estate agents are chasing me up. I feel so stressed out! Do you think after all this time it’s just going to be a no? Should we start another application with another lender? 

Nationwide is very very slow due to them being one of the only 90% lenders around. Are you buying at 90%
I am advising my clients not to use them unless we have no choice as this is the timescale they are currently offering

Thanks for the quick reply. We are 85%. Sold our house last year, currently in rented accommodation. We are so desperate to move!

I have to be honest - at 85% I would have swerved nationwide. Is there a reason it is taking so long? Do they keep asking for documents? 
I have one in with them which is approved subject to valuation and that was submitted 21st oct - are you self employed?

Really? Who do you think we should have gone with? No neither of us are self employed. 

They have only asked for documents once. My bank statements as they didn’t go up till the end of sept. When they asked for them I sent them to my broker the same day. 

haras_n0sirrah

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

Hi

We are currently on working day 29 with our mortgage application with Nationwide. Is anyone able to advise why the timeframe is so long? The sellers estate agents are chasing me up. I feel so stressed out! Do you think after all this time it’s just going to be a no? Should we start another application with another lender? 

Nationwide is very very slow due to them being one of the only 90% lenders around. Are you buying at 90%
I am advising my clients not to use them unless we have no choice as this is the timescale they are currently offering

Thanks for the quick reply. We are 85%. Sold our house last year, currently in rented accommodation. We are so desperate to move!

I have to be honest - at 85% I would have swerved nationwide. Is there a reason it is taking so long? Do they keep asking for documents? 
I have one in with them which is approved subject to valuation and that was submitted 21st oct - are you self employed?

Really? Who do you think we should have gone with? No neither of us are self employed. 

Anyone would have been faster to be honest. Most mortgages with other lenders are approved in between 2 and 10 working lenders if you are employed. I had one  client who was from this site - decline by nationwide and she had an approval with another lender within 48 hours of our first phone call.
At 29 working days you need to get an idea of where your application is. Is it approved and the valuation is the delay? If so then carry on. If they are still asking for documents then I would consider switching 

haras_n0sirrah

fingersallcrossed2020 said:

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

Hi

We are currently on working day 29 with our mortgage application with Nationwide. Is anyone able to advise why the timeframe is so long? The sellers estate agents are chasing me up. I feel so stressed out! Do you think after all this time it’s just going to be a no? Should we start another application with another lender? 

Nationwide is very very slow due to them being one of the only 90% lenders around. Are you buying at 90%
I am advising my clients not to use them unless we have no choice as this is the timescale they are currently offering

Thanks for the quick reply. We are 85%. Sold our house last year, currently in rented accommodation. We are so desperate to move!

I have to be honest - at 85% I would have swerved nationwide. Is there a reason it is taking so long? Do they keep asking for documents? 
I have one in with them which is approved subject to valuation and that was submitted 21st oct - are you self employed?

Really? Who do you think we should have gone with? No neither of us are self employed. 

They have only asked for documents once. My bank statements as they didn’t go up till the end of sept. When they asked for them I sent them to my broker the same day. 

Looks like you sent in docs on the 16th. That was 14 days ago. If they ask for any more docs after they have been looked at that then change lender 

fingersallcrossed2020

haras_n0sirrah said:

fingersallcrossed2020 said:

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

haras_n0sirrah said:

fingersallcrossed2020 said:

Hi

We are currently on working day 29 with our mortgage application with Nationwide. Is anyone able to advise why the timeframe is so long? The sellers estate agents are chasing me up. I feel so stressed out! Do you think after all this time it’s just going to be a no? Should we start another application with another lender? 

Nationwide is very very slow due to them being one of the only 90% lenders around. Are you buying at 90%
I am advising my clients not to use them unless we have no choice as this is the timescale they are currently offering

Thanks for the quick reply. We are 85%. Sold our house last year, currently in rented accommodation. We are so desperate to move!

I have to be honest - at 85% I would have swerved nationwide. Is there a reason it is taking so long? Do they keep asking for documents? 
I have one in with them which is approved subject to valuation and that was submitted 21st oct - are you self employed?

Really? Who do you think we should have gone with? No neither of us are self employed. 

They have only asked for documents once. My bank statements as they didn’t go up till the end of sept. When they asked for them I sent them to my broker the same day. 

Looks like you sent in docs on the 16th. That was 14 days ago. If they ask for any more docs after they have been looked at that then change lender 

Ok, thank you so much! Halifax or Santander?