Nationwide Covid-19 Response - Mortgage Offer Extension Process
From today, Nationwide have introduced a temporary change to the criteria for mortgage offer extensions. All applications, with the exception of Rate Switches and Later Life cases can be considered for a 90 day offer extension. If approved, the applications will still be eligible for the existing 15 day grace period at the end of the 90 day extension. If the mortgage offer has already been extended by 30 days previously, the application will still be eligible to apply for a 90 day extension application provided the current offer is still valid. Mortgage offer extension requests will only be considered if submitted within 30 days of their offer expiry date with any requests submitted earlier than this will be rejected. To ensure extension requests can be considered prior to expiry, it’s advisable for these requests to be submitted a minimum of 10 days prior to the existing expiry date. Mortgage offer extension requests must be submitted via an online form which is now available on Nationwide.co.uk, Themortgageworks.co.uk and our COVID-19 support sites. There will be separate forms for Nationwide and TMW cases. The extension request must be submitted by the customer themselves or by the mortgage broker (if applicable) or solicitor on their behalf. The only exception to this manual exception cases for example, non-simultaneous porting cases, these cannot be submitted via the online form and must go through a ring-fenced process via the sales channel. To identify these cases, you can check the mortgage offer as the case reference in the lower left corner will not start with an ‘M’. The request will undergo a series of checks to establish if the extension can be granted. The outcome of the request will be communicated by email and will be issued to the individual who submitted the request only. While we are in the window in which we are granting additional extensions to mortgage offers, Lender Exchange may show that a mortgage offers has been extended without a request being submitted. We would ask that you do not rely upon this status update, we re-iterate that a request must be submitted to extend the mortgage offer and will only be valid once a response has been issued by Nationwide. Should a request to extend the mortgage offer not be submitted we will be unable to complete on the mortgage offer post offer expiry.
Updated on 23 April 2020 13:44