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Original poster

Valuation to Mortgage offer

32 replies

fedupathome · 04/07/2022 20:30

I was wondering if anyone knows currently the average length of time Nationwide are taking from valuation to mortgage offer?

Our buyer had a valuation done on our house on Friday 24th June and we have no idea if they have had their mortgage offer through yet.
Absolutely petrified the sale will fall through 😪 imagining all sorts of problems.

Our mortgage offer for our onward purchase was issued same day as the valuation.

OP posts:
WoWsers16 · 04/07/2022 20:46

I was already to answer then I saw you said Nationwide and unfortunately I can't help!
Accord was 24 hours.

However Nationwide seems to be one that is taking a long time- if you go on MArtin Lewis website forums there are a few about nationwide mortgages on there xx

Original poster
fedupathome · 04/07/2022 21:20

@WoWsers16 Thank you I'll check it out ❤

OP posts:
Original poster
fedupathome · 04/07/2022 21:24

Thinking about it I wonder if they would be able to tell me whether my valuation has come back OK (eg asking price) , if I called them. I know they won't be able to tell me anything about my buyer or the mortgage, but would I least be told about the valuation on my property?

I'm going to pieces with the worry 😪.
I've already lost money on one onward purchase and scared our dream house will also fall through if our buyer has issues.

OP posts:
fourplusfour · 04/07/2022 21:29

Not Nationwide or accord but mine was 24hrs too

Happyhouse89 · 04/07/2022 21:31

Our Nationwide one just took 5 weeks. Broker had to raise an escalation. Nationwide have been slow for everything to do with this purchase unfortunately, valuation feedback took over 2 weeks.

WinterMusings · 04/07/2022 21:39

I'm with Nationwide, they're usually pretty quick with mortgage stuff. It's only been 6 working days, in this climate I'd say 2 weeks is the norm.

As you're not the borrower I can't see them disclosing to you, but can't hurt to ask!!

Can't your agent find out for you?

Best of luck with it all going smoothly!!

Original poster
fedupathome · 04/07/2022 21:39

@Happyhouse89 looks like they have a backlog! Were you given any reason it look so long or is that normal for them ☹

OP posts:
InFiveMins · 04/07/2022 21:42

6 weeks or so.

Original poster
fedupathome · 04/07/2022 21:45

@InFiveMins Was yours with Nationwide ?

OP posts:
Original poster
fedupathome · 04/07/2022 21:51

@WinterMusings Thank you ❤
The agent is worse than useless , they don't return calls and never seem to have any updates. We've been waiting for our buyers valuation since Mid May and it took place end of June !

OP posts:
Thewayshetalks · 04/07/2022 21:53

My solicitor said two weeks currently for nationwide to respond /offer

Happyhouse89 · 04/07/2022 21:59

No, but we haven't directly liaised with them ourselves. It should be fairly simple as our current mortgage is with them and we're porting it and only adding a bit extra. Luckily with other stuff going on we're not in a huge rush but it is frustrating.

middleofthelittle · 04/07/2022 22:03

We're sorting a remortgage with a mortgage broker. Told 19 working days they are taking to review things at the moment. Nearly a month, so I would think you'll get a reply soon.

evilharpy · 04/07/2022 22:05

We've been waiting over 6 weeks with another lender since application, and 4 weeks since valuation. They're blaming the backlog/volumes/covid etc. I'm beyond furious.

Butitsnotfunnyisititsserious · 04/07/2022 22:09

My application with nationwide to offer was 3 weeks, that was March though.

WinterMusings · 05/07/2022 05:58

InFiveMins · 04/07/2022 21:42

6 weeks or so.

@InFiveMins

That's awful, I'd be seriously losing my shit!

who was that with?

any particularly difficult issues (self employed etc)?

WinterMusings · 05/07/2022 06:02

fedupathome · 04/07/2022 21:51

@WinterMusings Thank you ❤
The agent is worse than useless , they don't return calls and never seem to have any updates. We've been waiting for our buyers valuation since Mid May and it took place end of June !

@fedupathome

Try Nationwide, I doubt they'll be allowed to tell you, but it can't hurt to ask!! You could, if they can't tell you yes/no, ask if it's been looked at, how long it usually takes etc.

then ride your Agents arse!! They get enough money from it to actually do some work!! Keep that wheel squeaking, go to their manager, above that if you need to. Lazy twats.

🤞🏼🤞🏼

hatchyu · 05/07/2022 06:42

Ours took about 2 wks to be approved after valuation.

hatchyu · 05/07/2022 06:44

whole thing was about 4-5 wks. Not even with Nationwide but huge backlogs/demand.

Beach1983 · 05/07/2022 10:18

We are just over 2 weeks and still
Nothing, they did the valuation a week ago - this is with NatWest!

mortaggar · 06/07/2022 22:43

Our buyer's lender (NATWEST) took 7 weeks from valuation to mortgage offer.

Husbandintheroom · 07/07/2022 17:24

We applied via broker June 8th they asked for couple more bits of paperwork june 12th and still waiting!! Haven’t even had valuation yet it’s crazy!!! So that’s a month. I hear upto 6 weeks then valuation occurs and can be a further 2 weeks.

dubyalass · 07/07/2022 22:46

I’m NatWest, valuation done last week but no news yet. Slightly concerned at @mortaggar saying seven weeks!

mortaggar · 07/07/2022 23:49

dubyalass · 07/07/2022 22:46

I’m NatWest, valuation done last week but no news yet. Slightly concerned at @mortaggar saying seven weeks!

We've been told by our broker there's been a huge rush in applications to take advantage of (relatively) low interest rates and lenders have been greedy in taking on applications but struggling to get everyone through the underwriting process quickly. Having said that, others on this thread have had their applications agreed within a week so... try not to panic!

dubyalass · 08/07/2022 18:28

You're right, @mortaggar - got mine today! Happy days!