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    • indigoben
    • By indigoben 15th Apr 18, 8:48 PM
    • 4Posts
    • 0Thanks
    indigoben
    Simultaneous mortgage applications
    • #1
    • 15th Apr 18, 8:48 PM
    Simultaneous mortgage applications 15th Apr 18 at 8:48 PM
    Hi,

    We've applied to Nationwide for a mortgage, however the application keeps having to be sent back to the underwriters due to numerous mistakes, and each time this incurs a 2-3 day delay. We're concerned that we may end up being rejected at the end of all this, but will have waited over a month to find this out.

    Is there an issue with us starting an application with one or more alternative providers at the same time? There is obviously now a credit search on our file from Nationwide - will other mortgage companies ignore this, or will they think we're trying to take out multiple loans at once?

    Thanks for any advice,

    Ben.
Page 1
    • csgohan4
    • By csgohan4 15th Apr 18, 10:03 PM
    • 4,768 Posts
    • 3,006 Thanks
    csgohan4
    • #2
    • 15th Apr 18, 10:03 PM
    • #2
    • 15th Apr 18, 10:03 PM
    two credit searches from two separate lenders is not a good idea,


    did you go the lender yourself or via a broker?
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
    • indigoben
    • By indigoben 15th Apr 18, 10:09 PM
    • 4 Posts
    • 0 Thanks
    indigoben
    • #3
    • 15th Apr 18, 10:09 PM
    • #3
    • 15th Apr 18, 10:09 PM
    We went direct - our current mortgage us with them and the rate on the product we want is competitive. I think if we were to look at another mortgage, then we'd possibly go through a broker to try and find someone that is certain to accept us.
    • ACG
    • By ACG 15th Apr 18, 10:14 PM
    • 17,332 Posts
    • 9,184 Thanks
    ACG
    • #4
    • 15th Apr 18, 10:14 PM
    • #4
    • 15th Apr 18, 10:14 PM
    Mistakes? There should not really be numerous mistakes on an application.
    Check over your application form for any other issues.

    It is never a good idea to make multiple applications.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • indigoben
    • By indigoben 15th Apr 18, 10:47 PM
    • 4 Posts
    • 0 Thanks
    indigoben
    • #5
    • 15th Apr 18, 10:47 PM
    • #5
    • 15th Apr 18, 10:47 PM
    Thank you both for the advice.

    The mistakes are in processing the application. E.g. we were asked to provide a letter from my employer which was duly done and added to the file. However the underwriters sent it back asking for the letter again. We also needed to make a change which has had to go back again as it hasn't been assessed correctly (which is yet another team). All very frustrating as I think we could get it done in about 15 minutes if only we could talk to the person making the decision directly.
    • csgohan4
    • By csgohan4 16th Apr 18, 8:41 AM
    • 4,768 Posts
    • 3,006 Thanks
    csgohan4
    • #6
    • 16th Apr 18, 8:41 AM
    • #6
    • 16th Apr 18, 8:41 AM
    this is why a good broker would have helped your case greatly, instead your left to deal with the underwriter and not knowing what their criteria or needs are
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
    • ACG
    • By ACG 16th Apr 18, 9:09 AM
    • 17,332 Posts
    • 9,184 Thanks
    ACG
    • #7
    • 16th Apr 18, 9:09 AM
    • #7
    • 16th Apr 18, 9:09 AM
    There is no one person with nationwide, it is something I find really frustrating. When it works, its fine but in cases like yours it is a nightmare.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • indigoben
    • By indigoben 16th Apr 18, 1:29 PM
    • 4 Posts
    • 0 Thanks
    indigoben
    • #8
    • 16th Apr 18, 1:29 PM
    • #8
    • 16th Apr 18, 1:29 PM
    @csgohan4 the problem isn't with the information we provided - we've sent through exactly what was asked for. However it has been assigned to the wrong item in the system by the team that handles this, so the underwriter has bounced it back. It's an issue of having too many teams (as @ACG also notes) and I suspect using less-skilled teams to do apply a set of rules that are actually quite complex.
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