Mortgage application - credit check etc

Pglugthaa

My husband and I applied for a mortgage with Chelsea Building Society 3 weeks ago. We had received a mortgage promise and then the following day continued with a full application.
We paid the application fee and have provided all the documentation they have requested over the last few weeks, all of which has been signed off. I requested that they vet us as individuals first prior to us paying for the valuation, concerned we would be wasting money if they later decline our application.

On Wednesday we heard from them stating all our paperwork has been signed off and the only outstanding matter is the valuation. I questioned whether that meant we as individuals were clear for the mortgage and was told the only stumbling block now, will be if the house if de-valued during the valuation.

Do you think this is all as it seems? Have we been credit checked etc? I'm really worried, as we have now paid £800 in fees for the valuation, application and solicitors searches.. What if they say no at this late stage!

Does anyone have any advise or similar experience?

Thank you

lee111s

Solicitor shouldn't have started searches until the mortgage offer really. However you should be OK providing the survey comes back fine.

mayyourhope

I moved my mortgage to the Chelsea about a year ago. I am now moving house (if all goes well), so I am in the process of transferring my mortgage to the new property. My experience is the same as yours - I have been told that my transfer is being treated like a new mortgage, and the process is taking a very long time.

Putting together various conversations that I have had, including with estate agents and a mortgage advisor, lenders are being ultra-cautious AND may have cut staff right back in recent years, so are struggling to cope with any sign of increased demand for mortgages.

I am sure that we will both be fine - I hope so!