Anyone want to join me? Awaiting Mortgage decision...
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Hi Everybody
I've searched through this thread and couldn't find anyone posting about Co-Op mortgages , does this mean their process is smooth and general no issues around it or simply they're so unpopular due to problems in a past?
They're currently in top 10 best buys mortgages with their fixed rates. I would appreciate if you share your experience as I'm thinking to apply today
Many thanks0 -
Full Time Line:
17/3 - Offer accepted and accepted offer on our current property.
19/3 - Full application sent to broker with payslips, P60s, bank statements, proof of gifted deposit form.
20/3 - Application sent by broker to nationwide (next day).
24/3 - The buyers survey was done on our current property.
25/3 - chased adviser for update on application.
25/3 - Credit score passed, Affordability passed. Initially wanted proof of bonuses for last two years. Broker asked them to re-key without bonuses as we should pass without, which we did so no longer required. Valuation instructed on our purchase (should happen in 4-5 days). Passed to senior underwriter (probably another 3-4 days until he gets to it).
28/3 - Land Registry plans received from solicitors to confirm plot requiring searches, instructed searches (also confirmation that draft papers have been received from sellers solicitors)
28/3 - T's & C's received in post from surveyors to sign and return
30/3 - Chased broker for update - nothing received
30/3 - Response from Nationwide, survey booked for 31/3, broker spoke to underwriter, no further info needed, mortgage offer is just pending successful survey.
30/3 - Searches on our purchase instructed
31/3 - Surveyor phoned to check any concerns on our intended purchase before he carries out the survey. Also checks regarding level of interest/competition when we offered (I guess to satisfy any potential concerns over valuation level etc).
31/3 - Our Estate Agent confirmed valuation on our property done, mortgage offer in post to our buyers and searches instructed by them.
01/4 - Homebuyers report received. Minor issues (lack of gas service report / electrical safety certificate / leaking conservatory roof which is being repaired under insurance). It's a modern house so these things should be fine.
02/4 - questions re. survey sent via solicitor
7/4 - chased via broker, no updates from Nwide other than "should be fine, will be passed for final checks tomorrow"
8/4 - No update
9/4 - chased via broker - same as above, still no update should hear tomorrow
9/4 - checked in with solicitor, draft contract sent to buyers, searches complete (look ok).
10/4 - no time to chase, no update.
11/4 & 12/4 - Tried not to think about it!
13/4 - Sent broker an email first thing, solicitors requesting mortgage info. Offer will be sent today, will call me when done. No call.
14/4 - Searches received
14/4 - original deeds with covenants from build received. Noted additional covenant on land bought to add to rear of garden (shed/greenhouse/garden use only permitted)
14/4 - Sent broker an email - no answer received
15/4 - Sent question re. covenant on additional land (term and who enforcing etc) just so we know.
15/4 - Sent broker an email, wife chases Nationwide discovers they didn't get the valuation until 13/4. Broker chases Nationwide, discovers wife chased too (I didn't know she was going to do this). Broker tells us the underwriter has made a few notes to look at the valuation and then put the case back in the queue. Strange...
15/4 - Check online with ref number and offer appears to be issued this afternoon!
your whole process wasn't doo long the really.
mine has now been over 6 weeks and we are just awaiting the offer im so nervous.
when I've checked our tracker its not even marked that they have received our valuation yet but the have told us they have done!!0 -
also djedga when you said '15/4 - Sent broker an email, wife chases Nationwide discovers they didn't get the valuation until 13/4. Broker chases Nationwide, discovers wife chased too (I didn't know she was going to do this). Broker tells us the underwriter has made a few notes to look at the valuation and then put the case back in the queue. Strange...'
did you mean your broker found out your wife has chased nationwide?
as I have been chasing skipton myself instead of going through my broker as they just seem to always say we'll chase them tomorrow or its in a queue0 -
Here's my updated timeline:
06/03/2015 - Our house listed
09/03/2015 - Offer accepted from FTB for £1.5k less than asking price.
23/03/2015 - View property for ourselves, offer £5k less than ask and offer accepted.
27/03/2015 - Meet with MB who has already had most of our information and has got us a DIP with Nationwide, and submits full application.
27/03/2015 - Text received from Nationwide to say application received.
30/03/2015 - Text from Nationwide to say that valuation and survey been booked, and EA confirms valuation to take place on 07/04/2015 (a week from today, which I think is good considering the 2 BH's in between).
07/04/2015 - Valuation Undertaken and text received from Nationwide to say they have received the report.
09/04/2015 - Text received this morning to say mortgage offer issued and in the post.
11/04/2015 - Mortgage offer received in the post for full amount a applied for.
Just waiting for our buyers now which is really tedious. They have gone with Natwest, and I spoke to the estate agent yesterday who phoned their FA whilst I was in the office. I could hear the other end of the line and he was just saying that Natwest havent requested any further documents so all being well, they should be instructing the valuation soon. It's such a pain though as they sent in their mortgage application before we did ours with Nationwide, yet we have already had our full mortage offer.0 -
is anyone currently going through an application with skipton?0
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also djedga when you said '15/4 - Sent broker an email, wife chases Nationwide discovers they didn't get the valuation until 13/4. Broker chases Nationwide, discovers wife chased too (I didn't know she was going to do this). Broker tells us the underwriter has made a few notes to look at the valuation and then put the case back in the queue. Strange...'
did you mean your broker found out your wife has chased nationwide?
as I have been chasing skipton myself instead of going through my broker as they just seem to always say we'll chase them tomorrow or its in a queue
Yep they had a note that we had chased ourselves, he was ok with this. They didn't give any different info, just you can ask the questions you have concerns about a bit more directly.. Process seemed slow to us especially as they seemed to do nothing for two weeks in the middle, very nerve wracking.
Good luck with yours hope it goes through ok!0 -
First time poster - currently trying to secure a Nationwide mortgage on a new build / Help to Buy property!!
4/3 - put our house up for sale
12/3 - Had an acceptable offer - but put them on hold until we found somewhere we liked
16/3 - found a newbuild that we could afford with Help to Buy
17/3 - spoke to Mortgage Advisor who took all our details and identified Nationwide as a potential lender
19/3 - Told we had AIP with Nationwide
19/3 - we accepted offer on our house and had offer accepted on new house
21/3 - completed HTB forms online/over phone
24/3 - HTB Equity Loan agreed and paperwork received
25/3 - completed Full Mortgage application, and sent off
26/3 - Text from Nationwide to say application received
27/3 - Text from Nationwide to say Valuation has been booked on the 27/3 (the same day so not sure if that's the date it had been booked - or that was the date has been booked for - the former presumably)
1/4 - Mortgage Advisor emails to ask us to send through evidence of a) my previous 2 years bonuses from work, b) current mortgage redemption figure and c) last months bank statement showing my salary being paid in. Sent this off tonight
Not sure what to expect next - I am gloomy at the best of times so fully expecting something to go horribly wrong - but does everything seem on track for a decision in the next couple of weeks do you think?
After plenty of emails back and forth with our Broker, finally got the text message from Nationwide yesterday confirming the mortgage offer is in the post. Taken us three weeks from full application being submitted to the text offer - slowed down by Easter and not sending paperwork over in correct electronic format initially (wish our broker had told us what was required)
Fingers crossed we might move in next month!0 -
Just heard back from my MA, she's sending off our updated documents today.
Turns out one of my partner's bank statements didn't have his name on! I can understand why they wouldn't accept it now. Hopefully the faxed versions of my SA302s will help as well, in lieu of the paper ones allegedly arriving in the post.
Fingers crossed for everyone. Hopefully I'll be hearing something after the weekend
Updated timeline:
Middle of Feb: Initial meeting with MA to discuss money, do KFIs, etc. Suggests we go with Santander
End of Feb: put in 3 offers on a house, all refused - back to the drawing board
14/03: Viewed a house, with potential. Owners father was there so we couldn't get a proper look around!
21/03: Second viewing, much better... Decide to put an offer in.
24/03: first offer refused - it was 10.5k, under but you have to try!
26/03: second offer put in - refused within 10 minutes!
27/03: final offer placed and refused. £1k under what she wanted, £6k under asking. EA is frustrated and takes the vendor 'window shopping' to get her on board
30/03: offer accepted! We visit our MA who has all our paperwork ready to submit our mortgage application with Natwest (was a better fit for us, I bank with them and have multiple incomes)
02/04: MOPS received
07/04: Contacted MA re: any news
15/04: Contacted Natwest, they require further info. Send updated Bank Statements to MA and request HRMC fax SA302 (since the first lot got lost in the post 8 weeks ago!)
16/04: MA lets me know she's passing further information onto Natwest today.0 -
Good luck! I've been told I should hopefully hear back by the end of the week, but not feeling too confident. Think it's more likely to be next week.0
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Hope everyone who is waiting hears soon. We are going to give our MA a call tomorrow to ask for an update. I think for my sanity i defiantly would appreciate having a bit more information of where they are up to.0
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