Nationwide mortgage timeframe

[Deleted User]

I have below the timeline from nationwide: 

18/01 DIP was approved, date to speak with MA was set.

20/01 Spoke with the MA and provided all the documents.  

24/01 MA asked for some more details regarding the source of the down payment which was provided to them within an hour.

27/01 A call from MA to make an amendment on mortgage term - the amendment was made on the same day. 

02/02 Called the bank to get some updates, was advised by the agent of issues with the payslips, double-checked with MA, and was advised by her no issue with the payslips they just need to be uploaded again. 

08/02 Called the bank to get some updates and was advised by the agent that the application has been approved, and at the moment it is in post-offer assessment, asked the MA to email the copy of the offer, and they replied the application is still awaiting going to offer. Once the offer is issued, a text message will notify me. 

16/02 Called the bank to get some updates and was advised by the agent that the application has not been touched since 08/02. Double-check with the MA who advised the underwriting is still making the decision. 

Given this timeframe, how long would you reckon they will be able to get back to me? so far it's been 19 working days since I submitted all the applications. 

Cheryl2010

Hi, can I ask if you got an offer through and how long it took?

We have just submitted an application and were wondering about the timeframe.

Thanks

rolo267

Hi @cheryl2010 I am also going through the nationwide mortgage application process currently. My timeline so far is below: 

17/05 - application submitted my mortgage advisor and text from nationwide to confirm received 

19/05 - notification from credit karma that nationwide had conducted a hard credit search (transunion) 

20/05 - another notification from credit karma that another hard credit search conducted by nationwide 

23/05 - text from nationwide to confirm valuation appointment is booked for 25/05 

i am now awaiting the results of the valuation taking place tomorrow. 

summerb64

Just for the benefit of those waiting, my timeline was;

dip via broker - 24/04
Full app - 25/04
hard search - 25/04
valuation - 09/05 
offer issued 12/05

There were issues with the text messages not being sent to me, so broker had to keep checking their portal to see where it was at, which caused a bit of a delay. 

Cheryl2010

Hopefully it won't take too long. 

I have had a message today saying they have received the valuation report and they will review it over the next few days. I doubt they will have a different valuation figure from the home report so fingers crossed we will hear in the next week or so

stedon

rolo267 said:

Hi @cheryl2010 I am also going through the nationwide mortgage application process currently. My timeline so far is below: 

17/05 - application submitted my mortgage advisor and text from nationwide to confirm received 

19/05 - notification from credit karma that nationwide had conducted a hard credit search (transunion) 

20/05 - another notification from credit karma that another hard credit search conducted by nationwide 

23/05 - text from nationwide to confirm valuation appointment is booked for 25/05 

i am now awaiting the results of the valuation taking place tomorrow. 

We are in the same position, hard searches have been conducted and valuation has been arranged for 26/05. Does this essentially mean mortgage has been approved subject to the valuation report coming back ok?

Thanks

Sncjw

Could they be doing a valuation? 

rolo267

@stedon i am a first time buyer, at the same stage of application process as you, so I’m not best placed to answer your question.. however, from what I’ve read online, having a valuation booked doesn’t necessarily mean everything else is approved. My understanding is that lenders sometimes book the valuation whilst the other parts of the application are still being processed. I have also read several cases of people receiving their mortgage offer immediately after completion of the valuation, so I think it really just depends on the individual application

stedon

@rolo267 Thanks for reply. That's what i was thinking as well to be honest, I was just hoping that once hard searches have been done we have effectively gone through the underwriting process and is just a case of waiting for the valution to come back before getting a formal offer. Our broker said our application had been accepted but I wasnt sure if she meant it has been accepted that they will look into it or accepted as in they've approved the application and just waiting on valuation. Guess we will find out tomorrow!
Good luck with buying your home!

kingstreet

This is what happens on a normal application where the DIP is accepted online;-

DIP accept
Hard search done at point of app submission (A)
Valuation instructed
Documents uploaded
Valuation appointment
Documents verified and any other requirements requested
Valuation report received
Other requirements uploaded
Valuation report accepted
Other requirements verified
Offer issued (O)

Depending on date of valuation appointment and how long other requirements take to obtain, you should go from A - O in two weeks or less subject to workload and service levels.

rally8765

My broker submitted the application last Friday. Monday the valuation was done, Tuesday I got a text and email from Nationwide advising they received the report and that they will review it in the next couple of days. 

Haven’t got anything else so far. I hope by tomorrow I get some update on this. I’ve seen many posts of people getting the offer text within minutes of the report received text.