“We have a portfolio of 8 properties and growing and have encountered 3 issues which we didn't experience with other mainstream lenders.
1. The most concerning (and latest) is having tricked us into a 2 years product which started 4 months before we even completed. The problem with that is that it resulted in a £470 cost because of the fee we had to pay. Very poor practice and currently in process to challenge.
2. Second poor experience was when we wanted a further advance. They grossly down valued our property. Again a big one for a BTL business as you rely on capital to grow.
3. Last but not least, very poor customer call handling. Staff appear to be not properly managed and serviced can be low overall.
Considering that this business has been with Nationwide since 2007 it is surprising that it has such issues.
Our experiences are telling us that something is not right there.”
“Do not touch this company. Nationwide should be ashamed to be linked to them. They have no morals, empathy and will instruct a third party collector at the drop of a hat incurring additional charges. They say they will say we want to work with you but they are no better than rogue debt collectors.”
“As the previous reviewers say a complete and utter shambles.cannot get any genuine feedback.one department has no idea what the others are doing.do no waste your time or money”
“The Mortgage Works linked to Nationwide is the most incompetent disorganised and company I have ever had the misfortune of dealing with .For two months I have been attempting to register my LPA .This has improved almost impossible .Documents by a member of staff at Nationwide twice and yet two months later this appalling company has not accepted my LPA in spite of all the documentation before forwarding to them .When calling on many occasion it appears most of the staff are working at home with no supervision.I could go on my advice is never do business with The Mortgage Works”
“NBS7865296Martin
I previously had to wait several months for consent for one of the two properties in my portfolio to be able to join a council leasing scheme which provides £10K for renovation work, meaning not only a significant loss of rent but also nearly losing out in the scheme.
After raising a complaint, they apologised and gave me just £125 in compensation.
Over two and a half months ago, I asked for consent for the 2nd property to join the Scheme, specfying that all the scheme details etc are exactly the same as for the 1st property, all of which I clearly specified in my request. Therfore, even though it was a separate request, it obviously conforms to their lending criteria as the request for the 1st property did.
I raised a complaint but kept on being told they will get back to me, and as well as the lost rent, I am in grave danger of losing out on the scheme including the £10K for renovation work.
No doubt they will come back with more excuses.
If I do not get the consent within the next few days and loose out on the £10K grant, then I will be lodging a complaint with the FCA for full compensation including the lost grant.”
“AVOID AVOID AVOID. Impossible to contact. Shoddy. Disgraceful. False charges. One of the worst companies I have ever encountered. Please never give them your business.”
“Poor on every level no communication hard to get any information out of them I’ve been waiting since July for a further advance all the ground work done but still no indication of when the funds will be available its now September. Please avoid if you can in my case age was a consideration otherwise I wouldn’t have used them there are plenty of better lenders out there if you do your homework.”
“Do not go near this company. I cannot begin to tell you the shambles and the trouble they caused me. I nearly lost the property. I ended up going to Leeds for a morgage instead. You have been warned .”
