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    • EllezBellz
    • By EllezBellz 2nd Jan 18, 11:32 AM
    • 5 Posts
    • 1 Thanks
    EllezBellz
    Moving so slow for us at the moment due to Christmas and bad weather!

    5/12/17 - Offer Made & Accepted
    11/12/17 - DIP Approved
    12/12/17 Full application submitted to Natwest
    12/12/17 Natwest Approved with Credit Checks
    13/12/17 Valuation Fee and Application Passed to underwriters
    18/12/17 Application has been approved subject to receipt of a satisfactory valuation
    29/12/17 Valuation due to take place but canceled due to bad weather to 5/1/2018
    • Amanda_Cm
    • By Amanda_Cm 2nd Jan 18, 4:12 PM
    • 9 Posts
    • 3 Thanks
    Amanda_Cm
    Our offer was issued today
    So
    7.12 - First offer made
    9.12 - Second offer accepted
    9.12 - Mortgage application with Nationwide
    11.12 - Valuation booked for 21.12
    21.12 - Valuation
    28.12 - Valuation received and approved
    2.01.2018 - Mortgage offer

    (The solicitor was instructed but we didn't make first payment yet)
    Good look to everyone else still waiting.
    • Sazmag96
    • By Sazmag96 3rd Jan 18, 1:32 AM
    • 3 Posts
    • 0 Thanks
    Sazmag96
    Hi everyone

    Sorry for the essay but needing advice and want to make sure everyone's got the full picture

    I am a FTB for a new build using help to buy and Precise mortgages
    My credit score for call credit, experian and equifax are all at the uk averages, I have had no late payments ever but have had a loan and a couple of credit cards which are all settled
    I have 5% deposit which is 6k however the deposit is coming from a help to buy isa, a savings account, shares from work and also a part gift from my mother - the total funds will not be together however until nearer the estimated completion time (mid - end march)

    My mortgage advisor has not asked about my deposit at all i.e. Where it is coming from or proof etc and she seems to be asking for all documents 1 at a time

    My timescales are

    11th December received AIP and authority to proceed - sent back and signed same day
    12th December - request proof of ID, bank statements for 3 months and bank details for payments to come out of
    13th December - above documents sent back along with signed help to buy application
    £410 valuation fee also paid
    18th - Precise confirmed had received bank details
    21st - p60 requested (after me asking if it was needed)
    22nd - told valuation has been instructed (but not told what date) standard declaration received signed and returned, and another direct debit mandate requested despite having received confirmation from precise on 18th it was received
    2nd January - requested wage slips in a different format, what the balances are on the credit cards/loan (despite these being cleared and settled since before application was even submitted, and being declared from the start, also querying a cash deposit which is a gift from a family member used to pay off the loan, and a standing order to my mother which is my current board - all sent back within 1 hour

    I am just wondering if this is the normal process
    Getting very scared now that they haven't asked any questions about my isa or savings account/deposit and I am just panicking they will decline my mortgage because of this
    I am a solo purchaser and mortgage amount is less than 4 x my income
    I also have no idea what stage the application is at and from the comments others seem to know when it is with the under writers etc

    Any help or advice would be greatly appreciated! ��
    • Amanda_Cm
    • By Amanda_Cm 3rd Jan 18, 12:11 PM
    • 9 Posts
    • 3 Thanks
    Amanda_Cm
    Some lenders are asking for proof of deposit and some don't. All I know is that if there is Isa and gifted part of the deposit, that can slow down the solicitors work and the time around Change of Contracts and Complete of the sale.
    Don't have experience with new build purchase but from what I heard they always give you a short period of time to Complete but if you have your mortgage granted, they will wait a bit more.
    • martinlewisjunior
    • By martinlewisjunior 3rd Jan 18, 1:58 PM
    • 47 Posts
    • 5 Thanks
    martinlewisjunior
    25h November 2017 -Offer made
    27th November 2017 - Offer accepted
    4th December 2017 - Mortgage Application made with Nationwide
    6th December 2017 - Mortgage Application delayed due to broker incorrectly stating the deposit.
    8th December 2017 - Deffered due to Bonus not being two years and only one year
    11th December 2017 - Nationwide offered less because of the bonus, so had to provide a bigger deposit
    12th December 2017 - Broker made typo on deposit, stating £700 more than I mentioned. I left it and coughed up the extra cash!
    18th December 2017 - Valuation scheduled for the 22nd
    22nd December 2017- Valuation takes place
    27th December 2017 - Nationwide receive documents from valuers
    29th December 2017 - Valuers make an error on the form and Nationwide request the document to be amended.
    2nd January 2018 - Valuers amend document, got told it hasn't been down valued (yay)
    3rd January 2018 - Nationwide reviewing new documents/ waiting on decision
    9th January 2018 - Nationwide finally reviewed Valuation documents
    9th January 2018 - Mortgage Offer in the post

    First time buyer here!
    Last edited by martinlewisjunior; 09-01-2018 at 10:55 AM.
    • martinlewisjunior
    • By martinlewisjunior 3rd Jan 18, 2:02 PM
    • 47 Posts
    • 5 Thanks
    martinlewisjunior
    Our offer was issued today
    So
    7.12 - First offer made
    9.12 - Second offer accepted
    9.12 - Mortgage application with Nationwide
    11.12 - Valuation booked for 21.12
    21.12 - Valuation
    28.12 - Valuation received and approved
    2.01.2018 - Mortgage offer

    (The solicitor was instructed but we didn't make first payment yet)
    Good look to everyone else still waiting.
    Originally posted by Amanda_Cm
    I'm with Nationwide as well! Seems like we made our application around the same time!
    • JayTeeAyH86
    • By JayTeeAyH86 3rd Jan 18, 7:43 PM
    • 1 Posts
    • 0 Thanks
    JayTeeAyH86
    Mortgage Timeline with Nationwide
    We initially applied for a mortgage through Lloydís who unfortunately wouldnít give us the LTV we required.
    Went through the mortgage advice bureau and decided on a mortgage through Nationwide.

    Decision in principle agreed on 13th December

    Full application made on 14th of December 2017

    Valuation organised for 3rd of January

    Valuation received and offer made text on 3rd of January

    Just awaiting documents now to confirm. 😊 it has been the most unbearable wait especially due to xmas.
    • FTB333
    • By FTB333 4th Jan 18, 9:48 AM
    • 5 Posts
    • 0 Thanks
    FTB333
    Hi all,


    First time buyer here and nervously waiting on mortgage offer from Barclays!


    1st Viewing: Saturday 25th November
    2nd Viewing: Saturday 2nd December
    1st Offer made: Saturday 2nd December
    Negotiations and final offer accepted: Monday 4th December
    Mortgage application documents submitted: Monday 11th December
    Valuation: Tuesday 2nd January


    Slightly nervous on the valuation, Barclays have used Countrywide who looking online are knowing for quite often devaluing! If anyone has had a good experience please share!
    • gardenia82
    • By gardenia82 4th Jan 18, 4:27 PM
    • 116 Posts
    • 124 Thanks
    gardenia82
    Joining in! First time buyer on Shared Ownership!
    Acceptance of SO on the property: 11/11
    AIP: Approx. 20/11
    Paid reservation on house: 25/11
    Application finally submitted by IFA and mortgage company accepted all documentation: 15/12
    Then we had a wait because of issues with the solicitor we accepted. On 22/12 we heard that was sorted out and the valuation instructed.
    4/1 (today!) valuation took place.

    And now we wait...

    IFA predicts we will hear Monday, but who knows? Biting my nails!
    Sealed Pot Challenge 2013 #1947 (open the pot on 28th November 2013!)
    Pay Off All Debt by Xmas 2013 #081
    Weight Watchers: started mid January 2013.
    To date (June 23) lost 3 stone 1.2lbs
    • kezzygirl
    • By kezzygirl 4th Jan 18, 7:24 PM
    • 621 Posts
    • 656 Thanks
    kezzygirl
    Our valuation and survey is with countrywide also....I am trying not to read the bad reviews(!) but I am aware they are known for down valuing
    • Dolly123
    • By Dolly123 4th Jan 18, 8:36 PM
    • 111 Posts
    • 8 Thanks
    Dolly123
    We have the Countrywide surveyor valuing our new builds and he is one of my favourites and he's never down-valued any of ours!
    • Spikecast
    • By Spikecast 5th Jan 18, 1:17 AM
    • 48 Posts
    • 7 Thanks
    Spikecast
    Our progress has been quite slow since the 19th December but today we got some good and bad news. Good is that our searches are all done, bad is that the builder have still not passed all info requested by the solicitor and had the cheek to aim for a completion date a week after we agreed. We've put pressure on them now by telling them we are moving out of our rented place in 19 days so they need to hurry up. Our solicitor has been efficient so far though but the builder is holding things up. As things currently stand we are should be moved in around 2-3 weeks time.
    • Sazmag96
    • By Sazmag96 5th Jan 18, 2:23 AM
    • 3 Posts
    • 0 Thanks
    Sazmag96
    My mortgage offer was granted in full subject to valuation on 3rd Jan - valuation took place on 4th Jan - broker says should get email confirmation of offer today providing no issues with valuation the developers are now selling the houses for more than I've reserved for anyway so shouldn't be any issues

    If my broker or mortgage company haven't asked source of deposit, are the solicitors likely to? I haven't instructed them yet just seems odd that some people are being asked and some aren't
    Probably just over thinking it, seems too easy so far about from all the waiting!

    Good luck everyone!
    • goodwithsaving
    • By goodwithsaving 5th Jan 18, 8:30 AM
    • 747 Posts
    • 1,133 Thanks
    goodwithsaving
    My mortgage offer was granted in full subject to valuation on 3rd Jan - valuation took place on 4th Jan - broker says should get email confirmation of offer today providing no issues with valuation the developers are now selling the houses for more than I've reserved for anyway so shouldn't be any issues

    Good luck everyone!
    Originally posted by Sazmag96
    Can I just clarify something as this may be confusing to future readers of this thread seeking information. I've noticed it mentioned a couple of times on this thread recently.

    You cannot have a mortgage offer before valuation! There can be issues with the property, issues if it needs significant renovation and it was a 95% mortgage etc. etc. Documents can be re-reviewed anytime prior to the mortgage offer being formally issued.

    Sazmag, you should have instructed a solicitor at the start. (Who did you put as your solicitor on the mortgage application?!) New builds are usually subject to a 28 day exchange. This is tight even when you have brokers and solicitors lined up from day 1.

    I suspect your solicitor will want to see fund proofs because they need to do due diligence to ensure everything is in place for exchange. This includes funds. They will also need proof of the source of the deposit for money laundering checks.

    Good luck and I hope the offer comes through today.
    Every time you borrow money, youíre robbing your future self. ĖNathan W. Morris
    • RaRasputin
    • By RaRasputin 5th Jan 18, 2:41 PM
    • 3 Posts
    • 0 Thanks
    RaRasputin
    I have had a fairly hideous first time buying process! I am hoping second property works out better, but I am back to the start, so nervous feelings all over again!

    Found Property 1, put an offer on, it was accepted in September 2017.
    Mortgage offered with non high street Building Society.
    Valuation happened, mortgage turned down as property near commercial property.
    Halifax offered mortgage, valuation was fine!
    Survey threw up all sorts of issues, we couldn't agree on price, so I walked away in December.

    Property 2 I offered on just before Christmas and it was accepted!
    Mortgage offered again with same non high street building society who said AGAIN they would not lend as they were concerned it was not worth the value offered.
    Now Barclays have agreed in principle, so waiting until valuation happens in 1 week and if they indeed accept me and the property.

    I am pulling my hair out all over again as the cost for property 1 that I lost was substantial as I paid fees, valuation, abortive fees with solicitors, which meant I went into my overdraft over those months whilst still trying to save.

    Credit rating is still above 900, so i am hoping all is OK and this property becomes my home!

    Good luck all, it's a very stressful and not very enjoyable process (for me anyway)
    • kezzygirl
    • By kezzygirl 6th Jan 18, 9:08 AM
    • 621 Posts
    • 656 Thanks
    kezzygirl
    Valuation and survey day is looming- Tuesday. This weekend could not go quick enough!!! �� just hoping the survey does not throw up any surprises....that would really put a spanner in the works!!
    • Sazmag96
    • By Sazmag96 7th Jan 18, 1:39 AM
    • 3 Posts
    • 0 Thanks
    Sazmag96
    @goodwithsaving

    I got told by my broker that the mortgage had been accepted pending valuation - this was done the next day - I then got my formal offer the following day! Not sure why she worded it that way if you're saying that it's not correct but hey ho I've got my offer like she said lol

    I do have a solicitor I just hadnt instructed them to start any searches etc as didn't want to pay for anything that wouldn't be refunded in the unlikely event the mortgage fell through
    And the planned exchange was within 30 days but the developer, IFA and solicitors all said it wouldn't happen then due to them all being closed for 2 weeks over Christmas etc
    • EllezBellz
    • By EllezBellz 7th Jan 18, 8:18 PM
    • 5 Posts
    • 1 Thanks
    EllezBellz
    5/12/17 - Offer Made & Accepted
    11/12/17 - DIP Approved
    12/12/17 Full application submitted to Natwest
    12/12/17 Natwest Approved with Credit Checks
    13/12/17 Valuation Fee and Application Passed to underwriters
    18/12/17 Application has been approved subject to receipt of a satisfactory valuation
    29/12/17 Valuation due to take place but cancelled due to bad weather to 5/1/2018
    5/12/17 Valuation Takes place - Mortgage Offer Issues but £8500 short of our offer.

    Not sure what has gone wrong here, but having to wait till Monday to find out. Feeling pretty gutted, as the house is around £20k cheaper that it should be due to be a part ex.
    • M_CP
    • By M_CP 8th Jan 18, 11:36 AM
    • 4 Posts
    • 0 Thanks
    M_CP
    Still waiting...
    Hello,

    Let me tell you about my partner and Iís situation. We are both first time buyers and in our early twenties. We decided to go for a share ownership property as our combined income doesnít allowed us to go for a full value property.

    Here is a bit of background about us, Iím from Spain and I have only lived in the UK for a year and 9 months that means that I donít have a three year credit history file as before I moved here I didnít have any type of bank account. On the other hand, my partner is British and has a good credit history but his salary doesnít allowed him to take the mortgage by himself (nor do I want that).

    Anyways, our journey began In October last year. We had found this property that we really wanted, so we contacted Grand Union and reserved it (at this point we didnít know if we could get a mortgage). Then we went to see our Mortgage broker for the first time, thatís where all the stress began, after finding out that we were only meeting the criteria of three lenders and only one of them decided to give us an AIP with the condition that an indemnity clause was included within the lease agreement. Long story short, Grand union took ages to hand this over, then the following problem was that based on the floor plan that we wanted, Grand Union had allocated to us the wrong flat which delayed the mortgage application (this was at the beginning of December), after this was solved, my broker finally sent our mortgage application on the 18th December. After that, Christmas and New years were on the way so everything got delayed again. Finally, last week I contacted me broker to see how everything was going, only for him to tell me that Grand Union once again are being useless , it seems that the site manager hasnít come back to the lender to book the survey.

    So today 8th January, We still havenít got the mortgage offer (We were told that we should be in by the end of January) and we donít know what will happen. I mean my broker said that lender is satisfied with our profile in terms of income, credit history and everything else. I donít know what to think or feel at this point in time, I just want this to be over. Any advice? Or similar experiences (did they said no to you)?

    The thing is that if they come back with a negative answer, we will have to wait until I have been here for at least 2 years or Iím 21 (both will happen in March this year) or we have 10% deposit. So we will have to wait until March to start all this process again, and we with our living arrangements (living with his mum and sister) waiting this long seems to be like hell
    • EllezBellz
    • By EllezBellz 8th Jan 18, 1:06 PM
    • 5 Posts
    • 1 Thanks
    EllezBellz
    5/12/17 - Offer Made & Accepted
    11/12/17 - DIP Approved
    12/12/17 Full application submitted to Natwest
    12/12/17 Natwest Approved with Credit Checks
    13/12/17 Valuation Fee and Application Passed to underwriters
    18/12/17 Application has been approved subject to receipt of a satisfactory valuation
    29/12/17 Valuation due to take place but cancelled due to bad weather to 5/1/2018
    5/01/18 Valuation Takes place - Mortgage Offer Issues but £8500 short of our offer (due to an error it seems!)
    8/01/18 Natwest have said to give us another offer within 24-48 hours.

    Driving us insane!
    Last edited by EllezBellz; 08-01-2018 at 1:54 PM.
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