Current Nationwide timescales?

[Movingon2020]

We already had an AIP, and submitted full application on Monday. Had a text that day saying product reserved, but it wasn’t until Wednesday they text and said application received. Today they came back and queried an income stream, very annoying as the answer was already in the paperwork they had, they just didn’t see it, so the MA has gone back and told them this. No sign of a valuation being booked despite their own timescales saying they action this on day 1 of application. I’m a little lost as others seem to have had the official timescale stuck to but we aren’t!

It’s going to be a looooong weekend of feeling up in the air. No reason to think they’ll decline us, other than the usual paranoia. Do they clear all the paperwork prior to valuation? So if next week we get the survey call does that mean application looks positive?

 

[PostBrexitInvestor]

I am always wary of lenders who agree mortgages in principle without actually looking at the paperwork in detail. The chances are that you already know you should qualify hence the reason why you are applying in the first place.

 

[FWL]

I would guess all of the qualifying documentation is cleared before a valuation otherwise they would end up doing valuations which might not be required.

 

[Peter J How]

An AIP is not a binding contract, it just says that 'in principle' things should be OK on the basis of some very basic information. They when they ask for details then the can give you the firm offer or not. Sorry to have to say that, but they are in their rights not to progress if they don't like something on the full application. I would be very nice with them and supply all they ask and ask them if there is any issues you should be aware of, just in case there is a misunderstanding, which they would be very happy then to correct if so. They want to lend, they are lenders!