Nationwide mortgage timeline and questions

firsttimebuyer29rp

Hi all,

Looking to get a potential timeline on Nationwide mortgage application. 

10% deposit and FTB 
We’re using a broker 

26/02 - AIP submitted 
26/02 - Mortgage application submitted 
26/02 - Email received confirming valuation booked for tomorrow (quicker than I thought - it’s not a new build)

Has anyone got any recent experience with Nationwide and timelines? 

I’m guessing the quick turnaround in the valuation doesn’t mean anything positive about our application (as far as a decision is concerned) it’s just them acting quickly? 

Thank you all!!

Mark_d

Mortgages can be turned around in under two weeks.  Do you think you have any reason to be concerned?

firsttimebuyer29rp

Mark_d said:

Mortgages can be turned around in under two weeks.  Do you think you have any reason to be concerned?

I’m expecting a couple of questions but none that really concern me. 

I guess these could push offer date back (assuming we have passed their criteria!)

Hoenir

firsttimebuyer29rp said:

I’m guessing the quick turnaround in the valuation doesn’t mean anything positive about our application (as far as a decision is concerned) it’s just them acting quickly? 

Valuations are conducted by 3rd parties. A prompt response suggests that some valuers aren't very busy at the moment !  In addition to which it's been easy to gain access to the property. Both are reasons for this element of the process being delayed on occassions. 

firsttimebuyer29rp

The valuation is/was booked for today. 

I’ve read online a lot of people get a text from Nationwide to confirm they’ve had the valuation through and they’ll be in touch. 

Should I be expecting this? Does it mean there’s a potential issue if I don’t get the text? 

Extremely panicky FTB here, so sorry!!

firsttimebuyer29rp

I should probably add. Just spoke to estate agents who said the valuation was done in person, which I’m surprised about as the valuation was done within 24hrs of the mortgage application going in. 

Does make me even more nervous though that Nationwide haven’t confirmed it’s been completed - unless paperwork still needs to be done! 

firsttimebuyer29rp

Still waiting for Nationwide to review valuation report. 

Broker has contacted them and they’ve confirmed they still need to review it but could take up to 10 working days.  

Fingers crossed we get some news soon! 

firsttimebuyer29rp

Just an update for anyone applying through Nationwide in case it helps!

DIP - Wednesday 26th February 
Mortgage Application - Wednesday 26th February 
Valuation - Thursday 27th February 
Mortgage Offer - Wednesday 5th March 

So relieved!! Fingers crossed everything goes smoothly from here!

ACG

The lad that works for me submitted a case yesterday at 11am, we had the offer by 4pm! Definitely the exception rather than the rule though when that happens. 

Exodi

Not meaning to come across as snarky, but genuinely confused:

Wasn't there a thread where everyone posted their mortgage process timelines? I remember it having hundreds of pages, exactly where people would post things like the below.

I've searched the forum a couple of times and I can't seem to find it? Am I going mad or has it been deleted?

firsttimebuyer29rp said:

Just an update for anyone applying through Nationwide in case it helps!

DIP - Wednesday 26th February 
Mortgage Application - Wednesday 26th February 
Valuation - Thursday 27th February 
Mortgage Offer - Wednesday 5th March 

So relieved!! Fingers crossed everything goes smoothly from here!

firsttimebuyer29rp

Exodi said:

Not meaning to come across as snarky, but genuinely confused:

Wasn't there a thread where everyone posted their mortgage process timelines? I remember it having hundreds of pages, exactly where people would post things like the below.

I've searched the forum a couple of times and I can't seem to find it? Am I going mad or has it been deleted?

firsttimebuyer29rp said:

Just an update for anyone applying through Nationwide in case it helps!

DIP - Wednesday 26th February 
Mortgage Application - Wednesday 26th February 
Valuation - Thursday 27th February 
Mortgage Offer - Wednesday 5th March 

So relieved!! Fingers crossed everything goes smoothly from here!

In fairness this started as looking for advice and then I’ve hijacked it as an update thread 🤣

If there is I’ll try to find it and jump on that as it’s definitely beneficial for FTB to ease anxiety/stress!