Nationwide mortgage help

[SandySmilesMum]

We’re in the middle of buying a new-build property and our mortgage is with Nationwide. We’ve been told the CML will be issued next week, but we’re hearing that Nationwide usually need five working days to process the paperwork and release the funds. The issue is that our builder can only offer completion on the 22nd or 23rd, and that’s the latest they’ll go before Christmas.

Has anyone been able to get Nationwide to release funds quicker than the standard five working days? Or had any experience of this happening?

Depends what the transfer is. I completed with nationwide last month and it was 48 hours as I used CHAPS

Most solicitors firms won’t do completions that close to Christmas . Lots are closed on the 23rd so I would check you are even able to do this date. Lenders can usually release funds with less than 5 working days notice but at Christmas due to large volumes it is not always possible. Better to exchange prior to Christmas and complete in January.

Are you hoping to be in for Christmas? Do you have a plan B?

We walked away from a Nationwide mortgage a week before Christmas a few years ago. They promised all sorts then started mumbling and dicking us around 2 weeks before Christmas, saying things took one week to do, but couldn’t be done as there was only two weeks left 🤷🏼‍♀️