Coventry building society mortgage order of application

Ronoli14

Hi all. We applied for a mortgage through our broker on Friday with Coventry bs. Full app went through fine and credit search all okay. Our online banking shows the application fee has been taken from our account and estate agent tells us that they are doing the survey on Wednesday. All going way too smoothly. Our broker hasn't asked for any proof of employment or identification what so ever. Would they really be doing a survey without these information. Anyone got any experience with Coventry bs to share.

Thanks

Ronoli14

Survey done yesterday instead of today because surveyor called estate agent to ask if he could do it earlier as he was clearing his diary. Mortgage broker emailed yesterday to say they wanted last payslip and p60 plus one form of ID like passport or bill.
I seem to only be reading bad reviews about Coventry bs mortgages but things seem to be going really smoothly. Is this the calm before the storm. I can't help but worry

gpmartin78

We went with the Coventry using a broker. We completed on the 9th November. They did do the survey as quickly as possible and didn't get underwriting until a few days afterwards. They only asked for one months worth of documents plus a p60 (as well as the usual ID). The only issue I had was that my savings account didn't show the full deposit but only beacuse things weren't processed in time for it to show on the latest statement. A quick visit to the bank soon sorted that out and the offer was released on the same day. It took around 2 weeks from survey to offer. Nothing to worry about. They were great with me. Although I had an excellent broker who was just fantastic at communicating with everyone and keeping all parties up to date with what was going on. Here I am today, very happy in my new house! So don't worry...people only tend to post things when something goes wrong. So here's a success story instead! Things can go smoothly!

Ronoli14

Thanks Gordon. Congratulations on the purchase of your new home . Good to hear something positive about Coventry bs mortgages. they have been good so far and fingers and toes crossed that we get the quick response you had. the deposit for our new house is coming from the proceeds of selling our current house so we did not have to show proof of deposit. This house buying thing is most certainly not or the faint hearted.

Thanks. You have put my mind at rest.

Ronoli14

Just updating to say that we have had our mortgage offer through. From application to offer took 10 days. Was dreading the whole mortgage application process but Coventry have been super efficient.

Happy days!

Mirandolina

Thanks Ronoli and GPMartin. I too have been reading the reviews and panicking a little.
We have just submitted an application and the surveyors went out the SAME DAY! Just wondering how the valuations were for the houses you were buying? The house we're buying needs work and they're saying they would withhold part of the payment until we have completed and done the work. I've never heard of anything like this before. I know that mortgage companies tend to value low these days but very much the price we are paying is reflective of the current condition of the property.
This might not have been relevant to you as you may have been buying new houses/without anything showing up on survey. Thanks for any insight.

oscardog

We have been with the Cov BS for the last 10 yrs of our mortgage. Two 5yr fixed jobs (the second one offset).

All good and very efficient customer services when you call. Anything you request is always sent out first class immediately.

We will probably stay with them for the last 7 yrs of our mortgage.

Thrugelmir

Mirandolina wrote: »

I've never heard of anything like this before.

Retentions aren't that uncommon. Particularly on older properties.

kingstreet

Mirandolina wrote: »

The house we're buying needs work and they're saying they would withhold part of the payment until we have completed and done the work

The retention means you'll have to increase your deposit to bridge the gap so you can buy the property. Once you've done that, you get the work done within six months and they'll release the extra funds after seeing receipts, or the surveyor has done a reinspection (at your expense, of course.)

Mirandolina

Thanks Kingstreet. I'm going to give them a call later to find out exactly what works they are stipulating. It might just mess around with the order we wanted to renovate the house in.

kingstreet

The essentials will be listed on the valuer's report and should also be reproduced in your mortgage offer, if you are expecting them soon?