From Wednesday 11 December 2013, if your client decides to buy a different property after submitting a Full Mortgage Application (FMA), their existing application will need to be cancelled and a new FMA submitted. This applies to FMAs submitted via NFI Online, NFI MTE or paper.
When you submit your client's new application, a new product will need to be reserved, and a new booking fee paid. Once you've submitted a new application, you'll need to contact our New Business team who will arrange a refund of your client's first booking fee.
Any change of property requests submitted by 5.00pm on Tuesday 10 December either over the phone, or with a material change form, will continue to be processed in the current way.
See below for full details of the new process including how to arrange a refund of fees.
How to arrange a refund of fees
If, on behalf of your client, you need to replace details of one property with another during the application process, the original case will need to be cancelled and a new application submitted.
This will require payment of a new booking fee and a new product reserved from the rates available at the time of re-application. Refund of your client’s first booking fee will be arranged once you notify New Business that you have submitted their new application.
Valuation fees will also be refunded unless a valuation has already taken place, in which event a further valuation fee will need to be paid. Please note that fee refunds can take up to 2 weeks.
A new list of case requirements will be generated based on the new application which you will need to provide, more information can be found on our General Criteria page.
Changes to acceptable application types from 5pm Wednesday 11 December 2013
To streamline our mortgage application process, we'll no longer accept the following application types from Wednesday 11 December 2013:
- Remortgage applications where the property is owned on an Equity Share basis.
- The option to split a new loan across more than one product (with the exception of Porting applications where there is additional borrowing).
Acceptable application types from 5pm on the 11th December
|Types of Application||How Applications can be generated|
|Right to Buy||
|Second Property Applications||
|Applications with other Mortgages in the background*||
|More than 3 addresses in the last 3 years|
|NewBuy & MI New Home|
|Applications for loans of £1m or more|
|Non-EEA Foreign Nationals with Indefinite Leave to Remain in the UK|
|Non-EEA Foreign Nationals without Indefinite Leave to Remain in the UK|
|Equity Share Purchase|
|Armed Forces Purchase application, which is being let from inception**|
|Nationwide Building Society Staff/Pensioners|
* You cannot use MTE or NFI Online for any remortgage applications if the applicant(s) owns a combination of unencumbered and mortgaged properties, you must use a paper application instead. Click here to download the forms required
** Applicants with a BFPO address in the last 3 years cannot be submitted via Nationwide for Intermediaries
How to submit an application before the changes to acceptable application types
You can reserve products through NFI Online or NFI MTE until 5.00pm on 11 December 2013. Paper applications must be postmarked up to Wednesday 11 December 2013 and posted to the address below:
Northampton Service Centre (IPA)
Kings Park Road