First time buyer mortgage

mwsh

Hey all just thought I would pick your brains- am new to the forum. I have had an offer accepted on a house and am in the process of applying for a mortgage. I have applied over the telephone then signed and sent back the filled forms i recieved through the post. I had a letter today saying the property valuation survey had been completed with them last week. Does this mean I should recieve an offer soon? Does the underwriting happen before or after they arrange a survey? Sorry for all the questions but as a first time buyer I haven't a clue! The mortgage is with Britannia and they have been very quick processing things so far ....I hope all goes through well any other first time buyers out there?

hethmar

I think Britannia is the people you should be asking Normally when a valuation has been completed you receive an offer or otherwise pretty sharply. Ring them and ask what is happening. Do you have a solicitor in place?

mwsh

yeah i have a solicitor in place, everythings moved pretty quickly so far so am going to stay put for a bit before i start bombarding them with calls. Was just wondering what the stages in the mortgage process are.

sinbad182

I've just been through the exact same thing as you with Brittania.

I had an agreement in principle before I found a property. When I got an offer accepted on the place I wanted, I went and did the full application at the local branch, sent off all my ID, passed the credit checks, and booked in the valuation. A lady called from the head office a few days after this saying I should get once weekly update calls, and as it stood then everything was fine and they were waiting for the valuation report. Got my second call a week after that saying the valuation was fine, and they charged all the mortgage fees, booking fees, and valuation fees to my card. Same day I also got a letter from them saying they had agreed to lend to me, so long as nothing out the ordinary happened.

I called them after this to ask what the next stage was, and they said it was pretty much in the hands of mine and the vendors solicitors now to arrange contracts etc, and they would forward money when needed, so long as my circumstances hadnt changed.

My impression would be that you are progressing pretty smoothly, same as I seemed to, but if you have any doubts call the head office, as they are really helpful (or were with me) and will explain any parts of the process you arent sure about, and will tell you anything extra they need from you.

Good luck!

mwsh

oh thats really helpful that you've just been through the same thing, so timescale wise things didnt take that long with you? I had the valuation through the post today and said on it the proeprty is advised for mortgage and it says on it it was carried out last thursday so hopefully if things go swimmingly it shouldnt take that long ! Waiting just makes me nervous!! hah

NyimaR

Have a look at peterae's thread 'Diary of a first time buyer'. It might be helpful to you.

mwsh

just to update, have had another letter today saying the application fee has been taken out and on the same letter it says that my application has been agreed subject to all references and documents being satisfactory. Does this mean im alright? or am i awainting another offer letter? sorry for al the questions but it does help that youve just been through it! hope youre enjoying your new home! thanks again!! x:o

mwsh

Just a quick update...phone call today mortgage is approved!!!!! Shoul get my confirmation letter 2moz glass of wine to celebrate