Mortgage to do list

Izzy529

Hi

Submitted application to Leeds Building Society on the 28th of April and had valuation completed.

Motgage advisor emailed today to say that head office were sending out a mortgage to do list and a note of outstanding information.

Any idea what this is? I feel i am worrying abut everything at the moment.

Mortgage advisor is also off to Friday so any help would be great!

Thanks

The_J

That will probably be a list of information they need but you haven't provided yet.

Izzy529

Thanks for you reply the J.

We gave them 3 months wage slips, 3 months bank statements and letters confirming employment status and wage. What else might they need?

gwernybwch

The_J wrote: »

That will probably be a list of information they need but you haven't provided yet.

That's exactly what it is.

My "to do list" for a Leeds BS BTL mortgage was that I had to provide proof of the rent received over the last year and breakdown of how I planned to use the funds from the remortgage.

As this was the third time that they have asked me for additional information, to the question to how I intend to use the funds from the remortgage I was tempted to write ala George Best "Beer and women. I rest I intend to waste". It would have interested to see they asked for a further breakdown of the expenditure!

Whether being asked to provide a "to do list" is a step closer to the application being accepted or rejected, I don't know. If I get a yea or a nay, I'll try and remember to post it here.

ACG

It could be a lis of things they want/need (for example additional bank statements, payslips, P60, accounts etc). Or it could be things they want you to explain - for example if there have been large payments into your account towards the deposit, they might want you to explain these.

It could be any number of things, if your application has been totally honest i wouldnt worry they just want some extra evidence or explanation - nothing to worry about they just want to be sure before they lend you thousands of pounds.

gwernybwch

I received a second "to do" list from Leeds Building Society today.

So don't think that just because you have been asked to complete a "to do" list it means that you are any closer to a decision on your mortgage application...............

magicstar21

We are going through a similar process and have received a 'To do list' from the mortgage provider.

However on our list we have to provide them with copies of all the insurances in place...

I am slightly confused (First time buyer) to how we are meant to send them these details when we don't yet have a completion date (No surveys or anything completed yet) so how are we meant to buy this insurance as we don't know what date to start it from.

Is this information they require before they provide us with the mortgage or is this something they just need further down the line?

gwernybwch

OP: I completed the second 'to do list' and received my formal offer this morning, so just because they have sent you a 'to do' list that they are considering turning down your offer :-)
On the downside, as part of the offer, they asked for yet more information..........

Izzy529

Hi guys

Sorry not had chance to update on this.

The to do list basically asked for our solicitors name and address which our mortgage advisor already had!

Formal offer came through last week so 11 working days since we applied.

Thanks for everyone's help and inputs.

Gentoo365

Thanks for updating. Always useful to know what happens.

gwernybwch

I thought that I would give an update. Similar to the OP I was also asked to complete a "to do list". I today received confirmation that the remortgage is due to go through next week.
So don't assume that if Leeds BS ask you to complete a to do list it automatically means that they are in process of rejecting your application.
On the downside, as part of confirming the completion, they have asked for YET MORE information............