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  • FIRST POST
    • SameOldRoundabout
    • By SameOldRoundabout 15th Jan 20, 10:23 PM
    • 17Posts
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    SameOldRoundabout
    Nationwide procedure & timeline?
    • #1
    • 15th Jan 20, 10:23 PM
    Nationwide procedure & timeline? 15th Jan 20 at 10:23 PM
    Anyone applying for a mortgage via NW at the moment? What have your timelines been like?

    Also, we had AIP approved via a broker, does that mean a hard check has been done already? Annoyingly credit reports havenít updated with Januaryís stuff yet. Do they approve the paperwork before valuation? Not had call to survey yet, itís been 3 days but they only acknowledged receipt of application today so I am probably rushing. Iím hoping they do the checks prior to survey, so once we get the survey call weíre on the way...,overly wishful?!
Page 1
    • JMA74
    • By JMA74 16th Jan 20, 10:06 AM
    • 1,079 Posts
    • 777 Thanks
    JMA74
    • #2
    • 16th Jan 20, 10:06 AM
    • #2
    • 16th Jan 20, 10:06 AM
    Step1: AIP - hard search. At the end of the AIP a list of documents required for full application will be requested. This will also show on the AIP certificate if you were given one
    Step2: You find a property, AIP updated with the property address and the system does a background check to see if a valuation is required or if it can be done through data already held by their systems (this is quite rare on a purchase, relatively common on a remortgage)
    Step 3: Application submitted, valuation instructed immediately and broker uploads documents requested.
    Step4: A team checks the documents received are the same as the ones requested and then they are passed to an underwriter. Official timescales are 2 days for documents to be approved and 2 days for underwriter to pick up.
    Step 5: Underwriter approves case/declines case/requests more info (you then go back to upload docs, someone checks them, and passes to underwriter so takes a few days).

    If approved and the valuation is back it is passed to generate offer documents (might take a day)
    If approved and valuation not back yet it is held in a queue waiting for the valuation.


    All being well it is very possible for Nationwide to offer (or agree subject to val) a case on first touch. They clearly spell out what documents are needed and as long as they are uploaded and any anomalies explained with a note they rarely have questions.
    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.
    • kingstreet
    • By kingstreet 16th Jan 20, 10:08 AM
    • 35,766 Posts
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    kingstreet
    • #3
    • 16th Jan 20, 10:08 AM
    • #3
    • 16th Jan 20, 10:08 AM
    Natiowide DIP is now soft search.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
    • JMA74
    • By JMA74 16th Jan 20, 10:26 AM
    • 1,079 Posts
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    JMA74
    • #4
    • 16th Jan 20, 10:26 AM
    • #4
    • 16th Jan 20, 10:26 AM
    Natiowide DIP is now soft search.
    Originally posted by kingstreet
    Is it really? I must have missed that.

    Although it makes sense as I see on the website they are now saying to do a DIP to get the borrowing amount when consolidating unsecured debt. Cant be having hard searches when encouraging dips for affordability cheks
    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.
    • Crumble2018
    • By Crumble2018 16th Jan 20, 1:58 PM
    • 228 Posts
    • 235 Thanks
    Crumble2018
    • #5
    • 16th Jan 20, 1:58 PM
    • #5
    • 16th Jan 20, 1:58 PM
    Ours was full application to offer in less than a week (last summer). Application went in on the Monday, valuation was booked for the Friday, and we got the offer on the Saturday. They'll send you text messages at each stage. (or they did us anyway!)
    Oh, and you get a lovely welcome box full of goodies delivered on completion day!!
    • SameOldRoundabout
    • By SameOldRoundabout 16th Jan 20, 2:06 PM
    • 17 Posts
    • 2 Thanks
    SameOldRoundabout
    • #6
    • 16th Jan 20, 2:06 PM
    • #6
    • 16th Jan 20, 2:06 PM
    Hmm. Maybe they’re super busy right now. Application went on via broker on Monday, had a text yesterday acknowledging receipt but nothing since. No survey or valuation call yet, even though broker asked them to go ahead and instruct valuation yesterday. I’m only panicking because the agent of the house we are purchasing rang yesterday saying a higher offer had been made (the gazumping cretins!) but the guy was sticking with the deal we made but wanted to see that progress was happening our end. I can’t do anything whatsoever so I’m finding it very stressful. All documents are in and I’m literally just waiting for all the bits at their end.

    My worry is I’ll pay out for a £600 survey and then be rejected and unable to buy the house. I’d hoped DIP was a hard check so it’s more likely to have had a good look.
    • SameOldRoundabout
    • By SameOldRoundabout 16th Jan 20, 2:08 PM
    • 17 Posts
    • 2 Thanks
    SameOldRoundabout
    • #7
    • 16th Jan 20, 2:08 PM
    • #7
    • 16th Jan 20, 2:08 PM
    I don’t think it makes a difference but we already have a NW mortgage, are porting the balance over and adding another lump on top.
    • kingstreet
    • By kingstreet 16th Jan 20, 4:51 PM
    • 35,766 Posts
    • 19,577 Thanks
    kingstreet
    • #8
    • 16th Jan 20, 4:51 PM
    • #8
    • 16th Jan 20, 4:51 PM
    It doesn't matter if the DIP is a soft search once an application has been submitted because at that point a hard search is done and you haven't been declined!
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
    • MrsR1234
    • By MrsR1234 16th Jan 20, 5:42 PM
    • 31 Posts
    • 90 Thanks
    MrsR1234
    • #9
    • 16th Jan 20, 5:42 PM
    • #9
    • 16th Jan 20, 5:42 PM
    Our full application went in last Wednesday afternoon via broker.

    Had a text to say valuation booked later that afternoon for Monday 13th. Received a text at 10am Tuesday 14th to say mortgage offer had been issued. Valuation with nationwide was free, but we paid for homebuyers survey which was done on the 13th also.
    Total savings 2018- £7450 (includes Lisa bonus)
    2019:
    Regular Saver: £0.00
    LISA: £0.00
    • SameOldRoundabout
    • By SameOldRoundabout 16th Jan 20, 6:20 PM
    • 17 Posts
    • 2 Thanks
    SameOldRoundabout
    Oh lucky you, thatís super quick. Iím so on edge with the waiting, especially as our buyer applied after we did but our current home has already been surveyed while our own application sits there doing nothing. Fingers crossed tomorrow we get the survey text, Iím waiting for that as weíre choosing a full building survey too.

    I wish I knew at which point we as buyers were cleared and it rested on the valuation. It would be handy to know if they do the personal and financial checks first then valuation or whatever. Hoping for an update tomorrow.
    • SameOldRoundabout
    • By SameOldRoundabout 17th Jan 20, 3:28 PM
    • 17 Posts
    • 2 Thanks
    SameOldRoundabout
    Tiny update. Theyíve come back and queried an incoming payment, which is annoying because itís clearly explained in the documentation already, they just havenít read it properly. Broker has gone back and told them so Iím hoping it wonít be too long but I think itís going to be a very very long weekend waiting.
    • JMA74
    • By JMA74 17th Jan 20, 4:23 PM
    • 1,079 Posts
    • 777 Thanks
    JMA74
    Tiny update. Theyíve come back and queried an incoming payment, which is annoying because itís clearly explained in the documentation already, they just havenít read it properly. Broker has gone back and told them so Iím hoping it wonít be too long but I think itís going to be a very very long weekend waiting.
    Originally posted by SameOldRoundabout
    Have you had a text saying the valuation is booked? Usually this would be before anyone gets hold of the file to query anything as its done on day1
    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.
    • SameOldRoundabout
    • By SameOldRoundabout 17th Jan 20, 4:33 PM
    • 17 Posts
    • 2 Thanks
    SameOldRoundabout
    No, valuation definitely has not been booked. I thought it would be by now but nothing. Weíre paying for a full survey at the same time so I donít know if they do paperwork first in that case so you donít waste a load of money? I really donít know as even the intermediary website says valuation instructed day 1. Any ideas?
    • CMT1994
    • By CMT1994 21st Jan 20, 2:48 PM
    • 2 Posts
    • 0 Thanks
    CMT1994
    We submitted on the 9th, and this was our timeline below

    Timeline
    Monday 6th Jan 2020 - Decision in Principle refer
    Tuesday 7th Jan 2020 - Decision in Principle approved (following document submission)
    Thursday 9th Jan 2020 - Mortgage Application submitted
    Wednesday 15th Jan 2020 - Mortgage Valuation
    Wednesday 15th Jan 2020 - Mortgage Valuation received
    Friday 17th Jan 2020 - Valuation approved
    Monday 20th Jan 2020 (Afternoon) - Request for verification on ID Docs
    Monday 20th Jan 2020 (Evening) - Mortgage offer

    We got texts and emails at every milestone with only 2 chaser calls.
    all in all Nationwide have been very quick at processing our application, we were hard credit checked on the 16th Jan after the valuation but i think thats because we were referred at DIP stage
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