Mortgage application depression :(

JA1000

So do you have a date for the valuation? They are not exactly busy at the moment so has it been done?

Wutang_2

Dan_1976 wrote: »

You a Hammers fan?

I enjoy most DIY tools, whys that?

camper_1982

Yes, has the survey been done? Mine was done and results back with 2 days of instructing it. Wonder whats delaying them with yours?

JA1000

Any sign of survey results on this yet?

dannyb123_2

God is this thread still going !!!??

Dan_1976

PLease shoot me!

Wutang_2

camper_1982 wrote: »

Yes, has the survey been done? Mine was done and results back with 2 days of instructing it. Wonder whats delaying them with yours?

Possibly something to do with the National Hunter searches? I have heard they can be a pain.

FraudBuster

Can we have an update please OP?

RX-78

Dark_Jester wrote: »

What was wrong with my tone in the original post? although I admit my tone did get bad after some of the judgmental comments made towards me (I am only human).

Any way, I did appeal and the original underwriter decision was overturned and I have been offered a provisional mortgage (depending on valuation and proof of finances) - I have sent all my financial info to them so Im just waiting for feeding in regards to surveyors.

Slightly off topic and forgive me if I sound a little clueless - haven't done the mortgage thing for 8 years and last time was handled by financial advisor.

I can understand provisional mortgage till the valuation is done. But doesn't the bank take all proof of finance (I take its bank accounts, pay slips, P60s, credit search, loan details) before you are passed onto under writers? I'm also applying with HSBC and they certainly asked for all these, even down to marriage certificate. Am I expected to proof further finance even after all these??

p.s. I'm not hopeful they'll give us a mortgage after reading this (and other) forum. Might just go down FA route....

Dark_Jester

JA1000 wrote: »

Any sign of survey results on this yet?

Sorry, I have been quite busy; I work and unlike you self, Vigilant22, Wutang and iamana1ias, dont have the spare time to hang around this forum 24-7!

Anyway, yes the valuation has been done and it matched the valuation of the seller. Our respective solicitors have been in contact and we will be moving in at the end of March 2010.

In the time since my last post, there has been a couple of twist and turns with my mortgage application:

(1) My wife finished her barrister pupilage and is now fully qualified and working for a firm in London. This new job boosted her salary from the trainee £25k to £40k and she was given a golden handshake signing on bonus of £9000!! The downside is that is legally obliged to work for the firm for a minimum 5 yrs but the positive was that we was no able to buy a bigger share of the property.

At the time of our original mortgage application my wife’s pupilage was coming to an end and although she could have continued working where she was, she wanted to earn more and so was applying for a permanent job with a variety of firms. For this reason, we did not see the point of telling the lender this since at the time of our original application we could not give any guarantee or proof to the lender that my wife would get a permanent higher paying job with a firm. Yes we could have told HSBC but if you were them, would you judge our application based on our actual current situation or a hypothetical scenario? Like with any job application, there is no guarantee that you will get it! The same argument can be applied when I made my original post on this forum; I came here to seek advise since I believed the lender got it wrong and only shared facts with people that were concrete and not hypothetical. I did not see the point of sharing hypothetical scenarios of my wife possibly getting a pay rise if she got one of the jobs she applied to!! I wanted to get advise from you guys based on (at least at the time) my current situation which was what lenders would have done and did do.


(2) So we reapplied and got accepted for a larger mortgage to buy the 50% share – with the HA approval of course.

(3) We now have a combined salary of around £70k (sorry should have been more clear but did not expect some petty retard to be desperate enough to cling on to a 2k difference and use it to accuse me of lying - haters continue to hate no matter what!!) and so can easily pay off mortgage, make bigger repayments to debts and also save to buy the other 50% off the property.


(4) Life is sweet


Moral of the story is don’t give up and ignore jealous haters who try to bring you down to their level with the poo know it all advise

Sorry but I had to come back to clarify some things. Yes, like some idiot claimed, I could be just lying but honestly (assuming you have read the entire thread) why I would even go through all this effort if it was just all !!!!!!!!! ?? J If you choose to believe that I am lying then fair enough, if you believe me then I hope you find this post useful as a future reference.

Best wishes, Dark Jester.