Make a donation
« previous next »
Pages: [1]   Go Down

Author Topic: House Mortgages  (Read 2467 times)

Offline dan930

  • Just look at my post count
  • ******
  • Thank You
  • -Given: 0
  • -Receive: 56
  • Posts: 1450
House Mortgages
« on: October 14, 2016, 02:22:05 pm »
Long story..my brother is in the process in getting a mortgage from nationwide
Nationwide gave him a mortgage promise 3-4 weeks ago,& after the application
& seeing loads of paperwork etc etc,they gave him a mortgage offer yesterday
My brother would like to know is there still a chance that nationwide will decline
the loan before exchange of contracts with solicitors & the current house owner?
He's getting really stressed up for the pass few weeks
Logged


MK6 golfR dsg
AKS TUNED
NORTECH PERFORMANCE HTA3071
R TECH custom map

Offline lukemk5gti

  • Just look at my post count
  • ******
  • Thank You
  • -Given: 28
  • -Receive: 118
  • Posts: 1845
    • Email
  • My Ride: http://www.mk5golfgti.co.uk/forum/index.php/topic,89715.msg907250.html#msg907250
Re: House Mortgages
« Reply #1 on: October 14, 2016, 02:47:44 pm »
Typically mortgage approval only lasts a set period of time but it depends on the bank. Can be anything from 30 days upward.

I wouldn't worry too much though, if they approved him in the past and circumstances haven't changed then he'll get approval without any issue second time around. Think there might also be a retention or extension application available.
Logged

Offline garrardrj

  • Just look at my post count
  • ******
  • Thank You
  • -Given: 76
  • -Receive: 42
  • Posts: 1098
  • EX 2007 Golf Edition 30 owner in Suffolk
    • Email
Re: House Mortgages
« Reply #2 on: October 14, 2016, 05:45:49 pm »
Why not ask them how long it lasts for? If they have made an offer they can still refuse if anything is not correct on the application.
Logged
2015 Golf R White 5 Door Leather DCC Dynaudio Pretorias
2009 Land Rover Freelander HSE - Workhorse
2007 Mk 5 Golf GTI Edition 30 - SOLD

Offline TAPPY

  • Always Involved
  • ****
  • Thank You
  • -Given: 15
  • -Receive: 56
  • Posts: 485
    • Email
  • My Ride: http://www.mk5golfgti.co.uk/forum/index.php/topic,103290.0.html
Re: House Mortgages
« Reply #3 on: October 14, 2016, 06:02:42 pm »
On their website it says

How long are offers valid for?
Remortgage offers are valid for 90 days.
House purchase offers are valid for 180 days. This includes applications for new build properties (whether completed or not).

If unsure of anything I would tell him to call nationwides mortgage advisor and speak to them as they should have enough given him contact details ( well the did for me) hope this helps

Logged

Offline Degudodger

  • Just look at my post count
  • ******
  • Thank You
  • -Given: 53
  • -Receive: 86
  • Posts: 1547
    • Flickr
Re: House Mortgages
« Reply #4 on: October 17, 2016, 09:48:37 pm »
Our offer was extended twice was valid for 6 months!

Logged
2016 Mk7 Golf GTD - Reflex Silver with stuff.

VCDS Hex+Can - Will code for beer!

Offline stealthwolf

  • Just look at my post count
  • ******
  • Thank You
  • -Given: 306
  • -Receive: 291
  • Posts: 7836
  • ED30 No.1412
    • Email
Re: House Mortgages
« Reply #5 on: October 24, 2016, 06:09:01 pm »
You've got more chance of being gazumped than of nationwide pulling the mortgage. They do a lot of checks before they even given an offer.
Logged

The GTI isn't just a machine. It's very much a living, breathing thing.

Offline barelyrelevant

  • Always Involved
  • ****
  • Thank You
  • -Given: 0
  • -Receive: 4
  • Posts: 89
Re: House Mortgages
« Reply #6 on: November 22, 2016, 06:49:38 pm »
I assume Nationwide have seen the house he is buying and given him a mortgage specific to that house rather than a mortgage in principle thing or whatever they are called where it's purely hypothetical based on salaries/outgoings?
Logged
Pages: [1]   Go Up
« previous next »