FD mortgages - how long for approval?

Hi guys,

The additional ID required was because we've been living in rented for 2 months, and some of the bills I sent them originally had our old address on - so you shouldn't have this problem.

Hope we get our P60's back, you can't get replacements. We used special delivery just to be on the safe side, and to ensure no delays.

FD just got back to me. Our mortgage is going to be assessed tomorrow, and we'll get a decision as to whether they'll give us a mortgage based on what we've sent. A valuation would be the next thing. I had thought that this was a foregone conclusion, following the info we gave over the phone 2 weeks ago!?? anyway...

2 weeks and counting, and we've got everything back to them ASAP...

dweeby wrote: »

FD just got back to me. Our mortgage is going to be assessed tomorrow, and we'll get a decision as to whether they'll give us a mortgage based on what we've sent. A valuation would be the next thing. I had thought that this was a foregone conclusion, following the info we gave over the phone 2 weeks ago!?? anyway...

Hopefully I can put your mind at rest (although I haven't got my stuff back yet either... might help if I actually sent it off!)

When I phoned them last week about something else, I also asked about the £299 that I have already paid... what happens if they decline my application? I was worried because HSBC had said that they would only lend to us over 28 years due to salary multiples but our application with FD is for only our current term of 19. I suggested that I should change my FD application to 28 years to increase the chance of being accepted as I assumed they'd work on the same calculations. They said not to worry. If all the documentation I sent confirms what I've told them on the phone, and the valuation is sufficient there won't be a problem. Fingers crossed!

Thought I would add my timescale to this thread.

Going for the 10 year fix at 5.15% and purchasing a property.

30/1 - Initial contact with them, need to wait for callback
7/2 - Missed FD callback
8/2 - FD callback received. Sending app pack out
11/2 - Received app pack
12/2 - Phoned FD and booked fixed rate - paid £299 booking fee
13/2 - Sent app pack back
16/2 - Called FD to check app received. Also told I may be able to use previous valuation report so send it in. Also received letter (after phoning!) to that FD had received app.
17/2 - FD called for some missing info from app for the current acc bit.
18/2 - Sent copy of valuation report from current mortgage offer
19/2 - Phoned to check on progress as exchanging today using mortgage offer from another lender. Told current a/c and saving a/c to open over night. Now passed on to mortgage processing dept.
20/2 - Phoned again to see when booking fee to be taken as not taken as of yet. Should be soon. Confirmed that I have the 10 year rate booked. Mortgage now with underwriters. Shall here something hopefully in next 2/3 days.
20/2 - Received welcome pack and another app for mortgage. Keeping hold of it just in case, but have confirmed with them that they have my app.
21/2 - Received letter re: transferring current account and cards. Phoned them for progress update. None so far, but have received my valuation report.
22/2 - Phoned FD - no update to report, still with credit approvals. Booking fee still not taken as of yet. Got further current account transfer info and paying in books.
23/2 - Phoned FD - no update
25/2 - Phoned FD - Been accepted subject to valuation. Will phone back to say whether our valuation report can be used instead. Phoned back and valuation report is going to be used. Just got to wait for offer docs which should be with me later this week.
28/2 - Phoned FD - Mortgage app now scanned on system. Should get offer by early next week. Booking fee still not taken. Received DH's wage slips back in post today.
29/2 - Booking fee now taken off cc dated 26/2
3/3 - Phoned FD told that message on system says that today my offer letter has been sent out and legal pack is being prepared.
5/3 - Offer letter has arrived :T. Signed offer put back in post.
8/3 - Phoned FD for an update. Signed offer has been received, waiting for it to be checked. Legal pack sent out to solicitors on 6/3
10/3 - Phoned FD and changed date of payment mortgage to end of month and amount (upped it)
11/3 - Received letter from Solicitors saying that FD's mortgage offer had been received by them. Arranged to sign offer on 17/3
17/3 - Signed legal mortgage document at Solicitors.
18/3 - Solicitor phoned to say our sellers have phoned saying they will be phoning next tues to give us our 9 day notice to complete, which means we should complete on the 10th April. Solicitor is going to request the mortgage amount for the 7th so it is ready and waiting.
26/3 - Been told that our sellers have been given their 10 day notice, so we should have ours tomorrow and apparently still aiming for 7th April. Solicitor had already requested monies for 7th April.
28/3 - Finally been given our notice to complete, completion set for 7th April.
4/4 - Rest of deposit sent to solicitor and mortgage amount has been received by the sols ready for completion on Monday 7th. Second £299 fee has been taken from my FD current account.
5/4 - Mortgage account showing on internet banking
7/4 - Welcome letter arrived for mortgage and we have completed. Yay.
10/4 - Another letter saying what mortgage account details are
11/4 - First statement listing first interest payment due!!

totally_confused wrote: »

Got home yesterday and found tat FD had posted my bank statements back. They said that the other docs submitted would follow in due course.

14/2 (2 days) - Bank statements received back from FD

did they post everything back to you? i sent payslips, bank statements and last years p60.
(they must photocopy them, then post them back to us?)

i also enclosed a pre paid special delivery envelope for my wage slips etc to be returned to me in, i wonder if they will use it?

anyone else had there statements etc returned so quickly.