Mortage application with Nationwide through broker really slow

athenianguy75

Short story, I applied through a broker on the 24th of January for a second home mortgage (LTV at 69%), they requested pretty standard documentation, then asked to book a survey on the 5th of Febraury which were done properly, then on the 15th I received couple of email mentioning they received and accepted the valuation report... On the 19th they sent me another email saying they received the valuation report, which sounds a bit odd to me, I asked the broker, they didn't reply me back, then on the 21th I asked another update to the broker and they said Nationwide mentioned he valuation report is awaiting assessment... On the 23rd I chased the broker again asking to escalate to Nationwide as they service level declare 10 days from application to mortgage offer , he then agree to call them back again as effectively was pretty slow, he called me back mentioning that they took much longer as an operator did the report survey data entry wrongly into their system flagging the property at flood risk, and it took 5 days to rectify it, and now it should be just matter of days to get the offer, he asked me to wait and if we didn't have any update till yesterday, today he would chase them.. As I was expecting no update till this morning, I called the broker again and he chased Nationwide which just said nothing, they don't have any update and there's no outstanding document ... I don't know really what to do ...
The lender service level page (https://www.nationwide-intermediary.co.uk/placing-business/service-updates) talk about between 10-12 days from application to offer, here I just find lot of challenges, low cares of customers, no answer and my estate agente is pinging asking an update. I spoke with 4-5 friends who applied for a mortgage in the last year and everyone is confirming no one had to wait more than 1 week...
I'm a bit shocked for all the waiting time they had to wait to get the survey report (I booked one with the same surveyour and it took 24 hour to get the report in my mailbox) and how long they took to assess properly the survey report.

 What should I do ? 

DE_612183

why did you not go to Nationwide direct - I find them one of the best mortgage companies going

athenianguy75

DE_612183 said:

why did you not go to Nationwide direct - I find them one of the best mortgage companies going

It was my first application for a mortgage here in the UK, most of friends suggested to rely on a mortgage broker, that's how I did.

kingstreet

NB it's a valuation report, not a survey. A fine point, for future readers!

If there is an error on the report, Nationwide has to refer it back to the surveyor (probably via Countrywide the panel manager) and it then takes five working days for Countrywide to turn it round. If they then get it wrong again...

TBH something like this isn't affected by the application route and as the SLA is five working days, it can't be escalated. I know, I've tried!

athenianguy75

kingstreet said:

NB it's a valuation report, not a survey. A fine point, for future readers!

If there is an error on the report, Nationwide has to refer it back to the surveyor (probably via Countrywide the panel manager) and it then takes five working days for Countrywide to turn it round. If they then get it wrong again...

TBH something like this isn't affected by the application route and as the SLA is five working days, it can't be escalated. I know, I've tried!

First of all, apoligise, you're right it's a valuation report, I was thinking it was the same as a survey report + a valuation, my bad. That's really interesting to heard, well my broker didn't mention an interaction again with Countrywide he just mentioned another internal team had to fix it. well if the SLA is five working days fine then, I'll not chase them till next week, it's just a bit disappointing how long it's taken

athenianguy75

Quick update : my broker yesterday contacted again Nationwide asking to escalate the application, and this morning they reached me confirming they issued a Mortgage offer.