Am I Mortgage-able?

Ms_Scarlett_2

GMS wrote: »

You are not screwed. It would have been a straight decline if you were.

Thank you.

GMS wrote: »

If it was me I would let them look at it and see what they say. You may be ok, I was pointing out how they MAY view it.

They have done a search so should have access to your data. Once it gets looked at you should have an answer soon after that.

Have they given you any idea when it will be looked at?

Monday, hopefully. Tuesday at the latest, so they told me this morning. They were looking at the day before's when I rang today, so we'll be in the next batch to get assessed. BUT the latest is that meanwhile the rate has gone down from 3.49% to 3.39%, sigh. I'd take a wild guess that in the unlikely event they accept us, we should stick instead of risking anything for a 0.1% reduction on the rate...

Ms_Scarlett_2

Thrugelmir wrote: »

You only applied on the 24th August. Last Monday was a bank holiday. So be patient. Constantly ringing the YBS isn't going to speed matters up. As you won't be allowed to speak directly to the underwriter handing your application.

Understandable why the vendor of the property is nervous having accepted your offer. Though that's none of your concern.

So best advice is to wait and see what unfolds.

Thanks Thrugelmir. I really haven't been ringing constantly, though - once on the day after bank holiday, when it seemed far longer than our previous experience, and they told me end of the week; once today when the previously quoted deadline was passed. I'm always polite as well - it's now the CSE's fault they're busy and shouting and ranting at them won't help your case.

GMS

If you have only applied for a decision in principle then you have not secured a rate. Full application will do this.

If the rate went up in the interim then they would make you go on that if you had not secured a rate so the same must apply when it drops. The delay could work in your favour ironically!!

You have made a mistake with your credit, that's all. Do not beat yourself up over it. Learn from it and move on, which you seemingly have. Can't go back and change it.

Ms_Scarlett_2

GMS wrote: »

If you have only applied for a decision in principle then you have not secured a rate. Full application will do this.

If the rate went up in the interim then they would make you go on that if you had not secured a rate so the same must apply when it drops. The delay could work in your favour ironically!!

Ha! Now that really would be awesome!