Valuation to Mortgage offer

[fedupathome]

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.

Ours took exactly 7 weeks with Nationwide. Finally got our offer last Friday!

Our offer on the property was accepted on the 29th of April, valuation carried out on the 13th of May, searches are due back on Tuesday 🤞🏼

No chain either side, so we were hoping it would be a lot quicker than it has been, but I’d say we’re looking at mid August for completion.

Is Nationwide one of the biggest lenders? Just seen lots of people referencing them.

For us, they had the best interest rates and offered a 20 year mortgage (DP is 50 this year) other offers were 17 years.

Our buyer has a gifted deposit and are waiting on a letter from their family member to say its gifted as the under writing team have asked for it.
I'm guessing the valuation must have come back OK as its been 10 working days.

Now sitting in suspense waiting for the buyers mortgage to be approved 😰

A little update we are still waiting for our buyers mortgage offer 😥
Nationwide apparently do have a backlog and we should hear back next week.

I'm sorry you're still waiting, but hopefully you'll get good news next week!!

This is shite but believe me your buyers are probably losing their minds and tormenting their broker for updates!