Nationwide mortgage process???

Slithery

mlb95 said:

We're hoping to move mid January , we'll give notice on our flat beginning of January and then hopefully have a little cross over so we can move and clean the flat without a rush...

Whatever you do, do not give notice until after you've exchanged.

JKP1245

Mid January seems do able, our solicitor has told us today that all the searches are back and the contract is on its way in the post, so took about 6 weeks for ours. Spoke to nationwide today and hopefully we will hear back by Friday! Then it will be the valuation and homebuyers if all is well! Time line just seems crazy for everyone at the moment!

JKP1245

Update - our solicitor sent the contract paperwork, all searches have been completed and enquiries answered by sellers solicitor. If we had mortgage offer now we would be able to complete and exchange before Christmas but doesn't look like that is going to happen until January now as solicitors won't do any completions after 18th December 😩

AlexMac

Good luck JKP... and mlb...  Hope it all goes well.
If it's any consolation, once you're with Nationwide, I hope your experience will be a good as ours. I in my view they're the best domestic lender and have treated us really well over the past 20-odd years through thick and thin, including a peiod of redundancy and joblessness. They've been great in giving us a good, penalty-free, rock-bottom tracker deal in the 1st place, then letting us port it to other properties and re-mortgage to even better deals on the expiry of the original ones.   Their FlexPlus current account benefits are excellent value and all within a £13 per month fee.  Fpr example they towed me home from the depths of the countryside the other day on their free vehicle recovery and their travel insurance is really ace If we ever get to go on holiday again; they paid up in a blink when a Spanish ferry to Spain was cancelled a few years ago and we had to extend the holiday and return via France.  

BUT... they really seem to be struggling with the workload at present; maybe due to COVID, homeworking, and the pre- SDLT holiday boom in sales?  We have been waiting a couple of months beyond their suggested completion deadline for a new "Lifetime mortgage" ( a whizzo new deal which in effect means that we never have to repay our current little "interest only" loan til we peg out and it becomes the kids' liability from the estate).  No problem, as its on a tiny LTV, we're not moving, already have the loan, aren't extending it and mainly because the new Lifetime fixed rate's a bit worse than our current one; so every month they delay saves us £150!

But if I was witing to buy a new gaff, I'd be really p155ed off.  Albeit forgiving, as they're still a mutual!

So Bonne Exchange and Feliz Completion, JKP & mlb

mlb95

AlexMac said:

Good luck JKP... and mlb...  Hope it all goes well.
If it's any consolation, once you're with Nationwide, I hope your experience will be a good as ours. I in my view they're the best domestic lender and have treated us really well over the past 20-odd years through thick and thin, including a peiod of redundancy and joblessness. They've been great in giving us a good, penalty-free, rock-bottom tracker deal in the 1st place, then letting us port it to other properties and re-mortgage to even better deals on the expiry of the original ones.   Their FlexPlus current account benefits are excellent value and all within a £13 per month fee.  Fpr example they towed me home from the depths of the countryside the other day on their free vehicle recovery and their travel insurance is really ace If we ever get to go on holiday again; they paid up in a blink when a Spanish ferry to Spain was cancelled a few years ago and we had to extend the holiday and return via France.  

BUT... they really seem to be struggling with the workload at present; maybe due to COVID, homeworking, and the pre- SDLT holiday boom in sales?  We have been waiting a couple of months beyond their suggested completion deadline for a new "Lifetime mortgage" ( a whizzo new deal which in effect means that we never have to repay our current little "interest only" loan til we peg out and it becomes the kids' liability from the estate).  No problem, as its on a tiny LTV, we're not moving, already have the loan, aren't extending it and mainly because the new Lifetime fixed rate's a bit worse than our current one; so every month they delay saves us £150!

But if I was witing to buy a new gaff, I'd be really p155ed off.  Albeit forgiving, as they're still a mutual!

So Bonne Exchange and Feliz Completion, JKP & mlb

Thank you, that's really good to know ! They have been great when we've spoken to them on the phone and they haven't taken a long as others (when reading other threads here ! ) so I can't complain too much! 

JKP1245 said:

Mid January seems do able, our solicitor has told us today that all the searches are back and the contract is on its way in the post, so took about 6 weeks for ours. Spoke to nationwide today and hopefully we will hear back by Friday! Then it will be the valuation and homebuyers if all is well! Time line just seems crazy for everyone at the moment!

We've had our final search come back yesterday also and received the report on them all today - so much to read and I don't understand half of it !!! 

We've signed the mortgage deed and mortgage report and will return them tomorrow - my sister works as a receptionist at the solicitors we are using so makes it quicker to receive and return documents.

No dates mentioned yet for exchange or completion and I'm not sure what the next step is now but hopefully when we return those documents they may tell us 👍 

mlb95

Slithery said:

mlb95 said:

We're hoping to move mid January , we'll give notice on our flat beginning of January and then hopefully have a little cross over so we can move and clean the flat without a rush...

Whatever you do, do not give notice until after you've exchanged.

Luckily we can move in with family who live about 10 minutes from where we're hopefully buying and the flat currently is furnished so we won't have that much to move with. Unfortunately our flat lease is up end of February anyway so if this house purchase delayes past then we'll be in with family anyway 🤦

But thank you for your advice , I'm under no illusions that although things are going smoothly now that may change and we'd be delayed for an unknown amount of time... 

JKP1245

Yayyyyy so happy for you! We've just had notification of the valuation being booked for 18/11. How long did it take for the paperwork to be sent to you for the mortgage? Oh I know I read the docs twice from the solicitor, and was so confused. Just also had a link for the RICS report too! So exciting!!!! 

mlb95

JKP1245 said:

Yayyyyy so happy for you! We've just had notification of the valuation being booked for 18/11. How long did it take for the paperwork to be sent to you for the mortgage? Oh I know I read the docs twice from the solicitor, and was so confused. Just also had a link for the RICS report too! So exciting!!!! 

Thanks , the day after the survey/valuation we got sent the report with the value. Then it was about 10 days later that we got a message from our mortgage advisor when he was notified that we'd got an offer and he sent the offer through on email. It arrived by post two days later to us 😊 

The solicitors were emailed at the same time as our MA that we had an offer and they gave us the mortgage deed and report to sign yesterday so 20 days later (19/11 - 09/12) 🙂 Not sure if they had them already and just sent them at the same time as the search report for ease or if it takes that long ... 

JKP1245

Hey, hope all is well! How are things going? We have just received our mortgage offer today so happy! 

mlb95

JKP1245 said:

Hey, hope all is well! How are things going? We have just received our mortgage offer today so happy! 

Yay!!! 🎉🎊 That's fantastic!!! Relieved for you ! We're nearly there now I think, we have all the enquires back, searches back. We've signed lots of things (not a clue what half of it is 🤣🤷) and our solicitor said she'd out the completion report on the 29th and then talking about exchanging early January when everyone is back working so 🤞 How's the other parts of yours getting on ?