Nationwide Mortgages

chrisjp2017

Hello

I’m a newbie here. Please don’t shout at me if this topic has been covered a billion times.

Myself and my wife have applied for a mortgage via a broker on the 21st May. We had a text message to confirm receipt of the application and a hard search was done via Equifax and Transunion. We received a text the same day to confirm a valuation appointment for next week.

Does anyone know the process for Nationwide with regards to stages of the application process?

Thanks in advance for your replies 

chrisjp2017

I should have asked, will the underwriters have started the initial checks since the 21st May and is it possible to receive a rejection prior to valuation? Is no news, good news so far? I appreciate it’s only been 3.5 working days since the application was put in on Tuesday morning.

miss_moody12

Hi, Have you had your valuation, if so have you heard back?

We did a full application on the 24th May, valuation was yesterday so waiting to hear back. I've read some people get a mortgage offer the next day! others are waiting until the following week so would be good to know your timescales?

chrisjp2017

miss_moody12 said:

Hi, Have you had your valuation, if so have you heard back?

We did a full application on the 24th May, valuation was yesterday so waiting to hear back. I've read some people get a mortgage offer the next day! others are waiting until the following week so would be good to know your timescales?

Hey. We had our valuation on the 30th as well, it was completed by 11:30am. Our broker said the valuation was in the hands of Nationwide but have not heard anything yet.

i don’t know if the underwriters work on Saturdays but I am prepared for not hearing anything over the weekend and have the agonising wait into next week. 

DIP - 18th May (Accept)
Full App - 21st May AM
Valuation Booked - 21st May via Text
Valuation - 30th May

Currently in the wait zone 

All the best for yours and keep me posted

miss_moody12

chrisjp2017 said:

miss_moody12 said:

Hi, Have you had your valuation, if so have you heard back?

We did a full application on the 24th May, valuation was yesterday so waiting to hear back. I've read some people get a mortgage offer the next day! others are waiting until the following week so would be good to know your timescales?

Hey. We had our valuation on the 30th as well, it was completed by 11:30am. Our broker said the valuation was in the hands of Nationwide but have not heard anything yet.

i don’t know if the underwriters work on Saturdays but I am prepared for not hearing anything over the weekend and have the agonising wait into next week. 

DIP - 18th May (Accept)
Full App - 21st May AM
Valuation Booked - 21st May via Text
Valuation - 30th May

Currently in the wait zone 

All the best for yours and keep me posted

I contacted nationwide yesterday and they said the underwriters are still reviewing my documents but my valuation was there aswell so its just a waiting game now. Were not buying a new home we have applied for extra borrowing to renovate but the process is the exact same and just as frustrating 🤣

chrisjp2017

miss_moody12 said:

chrisjp2017 said:

miss_moody12 said: No

Hi, Have you had your valuation, if so have you heard back?

We did a full application on the 24th May, valuation was yesterday so waiting to hear back. I've read some people get a mortgage offer the next day! others are waiting until the following week so would be good to know your timescales?

Hey. We had our valuation on the 30th as well, it was completed by 11:30am. Our broker said the valuation was in the hands of Nationwide but have not heard anything yet.

i don’t know if the underwriters work on Saturdays but I am prepared for not hearing anything over the weekend and have the agonising wait into next week. 

DIP - 18th May (Accept)
Full App - 21st May AM
Valuation Booked - 21st May via Text
Valuation - 30th May

Currently in the wait zone 

All the best for yours and keep me posted

I contacted nationwide yesterday and they said the underwriters are still reviewing my documents but my valuation was there aswell so it’s just a waiting game now. Were not buying a new home we have applied for extra borrowing to renovate but the process is the exact same and just as frustrating 🤣

It’s a backwards process. No news from my side at the moment. Have you heard anything?

miss_moody12

chrisjp2017 said:

miss_moody12 said:

chrisjp2017 said:

miss_moody12 said: No

Hi, Have you had your valuation, if so have you heard back?

We did a full application on the 24th May, valuation was yesterday so waiting to hear back. I've read some people get a mortgage offer the next day! others are waiting until the following week so would be good to know your timescales?

Hey. We had our valuation on the 30th as well, it was completed by 11:30am. Our broker said the valuation was in the hands of Nationwide but have not heard anything yet.

i don’t know if the underwriters work on Saturdays but I am prepared for not hearing anything over the weekend and have the agonising wait into next week. 

DIP - 18th May (Accept)
Full App - 21st May AM
Valuation Booked - 21st May via Text
Valuation - 30th May

Currently in the wait zone 

All the best for yours and keep me posted

I contacted nationwide yesterday and they said the underwriters are still reviewing my documents but my valuation was there aswell so it’s just a waiting game now. Were not buying a new home we have applied for extra borrowing to renovate but the process is the exact same and just as frustrating 🤣

It’s a backwards process. No news from my side at the moment. Have you heard anything?

Not yet, called them this morning though and the person I spoke with gave me a bit more in depth info than what i was given on Friday...

Apparently my application has passed the 2nd stage (I think 1st stage is DIP) so now it is in the final stage with the main underwriters, it was apparently passed on Thursday and they said I should hear back in 3 working days so I expect to hear back by tomorrow or Wednesday latest hopefully.

I'm guessing it may be same for you since we had our valuations at the same time, I'm thinking the valuation needs to be assessed before they waste underwriters time on the final stage.

Keep me up to date if you do hear anything

chrisjp2017

Well fingers crossed we both hear news soon - hopefully good news on both sides.

No news from my side currently 

kingstreet

IMHO the purchase/remortgage and further advance processes are different and you shouldn't read across progress in one as indicative of what to expect in the other. Purchase/remortgage is usually faster from my experience.

miss_moody12

kingstreet said:

IMHO the purchase/remortgage and further advance processes are different and you shouldn't read across progress in one as indicative of what to expect in the other. Purchase/remortgage is usually faster from my experience.

Hi, we have had to go through a tough process due to my partner being classed as self employed less than 2 years (hes a director paid in dividends). This has been equally as thorough and stressful as any new mortgage i have taken out before because we have had to go through a referral process. looking at NW timelines and speaking to their mortgage advisers we are at the same point now after valuation as you would be purchasing a new home

miss_moody12

chrisjp2017 said:

Well fingers crossed we both hear news soon - hopefully good news on both sides.

No news from my side currently 

I have actually heard back this morning, due to our valuation coming back at 8k more than on our application we now have to switch our product because our LTV is lower than we have applied for. They have said we need to pick a new product based on lower LTV banding which im hoping just means we save money rather than having to do any additional checks