does this mean yes?

2kids1dog

just had email from nationwide, does this mean yes we have the mortgage?

We are delighted to let you know we have issued a formal mortgage offer which will be posted out to you today.

opinions4u

It means yes.

It doesn't say if they've adjusted the size of the offer in any way though. So good news, but wait for the official document to confirm it's great news!

kingstreet

It means your mortgage offer has been issued and as long as there are no changes in your circumstances between now and completion, your mortgage should be released with no problem.

If something does change, such as a new job, you are bound to disclose this to the lender to allow them to decide if they still wish to lend to you.

Do not, under any circumstances apply for any new credit until after COMPLETION has taken place. I upper cased that because it is then the point of no return for a lender, not exchange of contracts.

2kids1dog

We are delighted to let you know we have issued a formal mortgage offer which will be posted out to you today.

Where applicable, a copy will also be sent to your solicitor.

That's all it say's. we only applied yesterday? only just posted paper work back to the solicitors

2kids1dog

I forgot to ask, we are paying a very small amount off a credit card, £900 do they need to see that we have paid it ?

Goldiegirl

2kids1dog wrote: »

We are delighted to let you know we have issued a formal mortgage offer which will be posted out to you today.

Where applicable, a copy will also be sent to your solicitor.

That's all it say's. we only applied yesterday? only just posted paper work back to the solicitors

The formal mortgage offer is the 'yes', and it's very quick if you only applied yesterday.

I can only think that you are having a very low mortgage in relation to the size of the property and scored highly on their credit scoring system, and they did the valuation within hours,

If the above seems to tie in with your situation, it's still a quick offer, but the timescale is reasonable.

However, if you are having a 90% mortgage and you know you've a few missed payments here and there, then it's possibly too quick!

2kids1dog

we are 65% loan. no valuation computer was happy to go ahead without one.

kingstreet

Is this a low loan to value remortgage with no additional funds being raised? The only way I can see it being that fast is a desktop valuation and no requirement for evidence of income.

Odd, TBH.

afly

Just had this very same email. Ours is for a transfer of equity so a slightly simpler process (no valuation, but removing & adding a borrower on to the mortgage). I only paid the fee to start it all 4 hrs ago!

I'll update the thread to say what arrives in the post

...

Yep, it's exactly as it sounds. Only warning is that they send everything out 2nd class post so it took 8 days to arrive. The solicitors still haven't received theirs at 10 days. Had I known, I would of offered to pay the the extra 20p :undecided