Three months after applying for a mortgage, we are still waiting for Nationwide to confirm the offer and are now in danger of losing the home we want.
Our solicitors have been ready to exchange contracts for weeks and our vendors have been very patient. To top it all off, we found out three months after the application that Nationwide required us to submit a new one, as 90 days had elapsed. SP, Chagford, Devon
One of the problems seems to have been that you used a broker to apply for the mortgage and delays were caused by both parties relying on this middleman to contact each other.
However, it’s extraordinary that it took the building society five weeks to read the valuation report, which suggested additional damp surveys.
“This is an unusual and complex case given the requirement for additional checks on a range of issues,” says a spokesperson. “We do accept that we could have processed the valuation report sooner.”
You were forced to reapply from scratch because your fixed-rate deal had changed in the meantime to a lower rate. In recognition of its tardiness, Nationwide has paid you £300 compensation. It is surely a coincidence that the loan was granted the day after I mentioned the publicity it would be receiving.
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