Anyone want to join me? Awaiting Mortgage decision...

heston2014

Our latest update:
Lender: HSBC

23/05 - First DIP obtained
26/06 - Offer on house accepted / Full application submitted (had issues with first application due to fatal error, had to submit a second application)
29/06 - Email with link to upload documents received, uploaded: 1 month's payslip, 2 x P60 for bonus evidence and proof of pension contribution
30/06 - Application forwarded to Underwriting team for review
06/07 - Underwriter review
07/07 - Underwriter queries and received text "Offer Subject to Valuation"; Paid booking fees online.

I was not expecting the call today nor the offer text! Thank goodness, the wait is almost over! Not too concerned about the property valuation as we are borrowing 80% LTV and house prices are way above what we are buying it for, even based on online valuation.

Cannot believe we got an offer! Good luck everyone!

Lancs1234

SierraRomeo30 said:

Lancs1234 said:

Anyone any recent experiences with accord? We have just been told by our mortgage advisor they're still considering due to it being extremely tight and close to their maximum, however we've just found out they've not taken any of my partners overtime into consideration (She's an A&E nurse and this equates to £8k-10k per year). Very annoying especially when finding out this has been the issue for the last 2 weeks 😒. 

Their website states they should accept 60% of any regular overtime too.

 No experience but got all my hopes pinned on Accord too! Our AIP got referred and then my broker put the full application in at the same time so we never actually got the go ahead. Fingers crossed!

How long have you been waiting?

xx_mstilda_xx

heston2014 said:

Our latest update:
Lender: HSBC

23/05 - First DIP obtained
26/06 - Offer on house accepted / Full application submitted (had issues with first application due to fatal error, had to submit a second application)
29/06 - Email with link to upload documents received, uploaded: 1 month's payslip, 2 x P60 for bonus evidence and proof of pension contribution
30/06 - Application forwarded to Underwriting team for review
06/07 - Underwriter review
07/07 - Underwriter queries and received text "Offer Subject to Valuation"; Paid booking fees online.

I was not expecting the call today nor the offer text! Thank goodness, the wait is almost over! Not too concerned about the property valuation as we are borrowing 80% LTV and house prices are way above what we are buying it for, even based on online valuation.

Cannot believe we got an offer! Good luck everyone!

Yaaaaay! Congrats @heston2014 that's fab news - so glad the excruciating wait is over for you! Is there any reason you can't believe you got the offer/weren't successful before being 3rd time lucky?

Our full app was also submitted on the 26th so hopefully we'll hear something soon 😩

watch3r

😁😁😁
” Application all assessed and all fine. They are now booking the survey for you ”
yey 🎉

heston2014

xx_mstilda_xx said:

heston2014 said:

Our latest update:
Lender: HSBC

23/05 - First DIP obtained
26/06 - Offer on house accepted / Full application submitted (had issues with first application due to fatal error, had to submit a second application)
29/06 - Email with link to upload documents received, uploaded: 1 month's payslip, 2 x P60 for bonus evidence and proof of pension contribution
30/06 - Application forwarded to Underwriting team for review
06/07 - Underwriter review
07/07 - Underwriter queries and received text "Offer Subject to Valuation"; Paid booking fees online.

I was not expecting the call today nor the offer text! Thank goodness, the wait is almost over! Not too concerned about the property valuation as we are borrowing 80% LTV and house prices are way above what we are buying it for, even based on online valuation.

Cannot believe we got an offer! Good luck everyone!

Yaaaaay! Congrats @heston2014 that's fab news - so glad the excruciating wait is over for you! Is there any reason you can't believe you got the offer/weren't successful before being 3rd time lucky?

Our full app was also submitted on the 26th so hopefully we'll hear something soon 😩

In the last 3 years, we tried to get a Let to Buy mortgage on our current property to release equity and buy a second home.
Affordability was not the issue, it was valuation stage that we had failed on the two previous attempts.
This time around, we made sure we did our research properly ourselves (first two we used a broker), but this time we decided to go direct.  Second home mortgage lenders are limited based on the LTV, so our only option was HSBC.  So we had an expectation that we may not be successful given that HSBC are renowned to be very strict lenders.
We knew we had dotted all our i's and crossed all the t's before we submitted an application, but as we've been burnt before, we went in with the expectation that if it's meant to be, it's mean to be and this will be the last attempt for us.

Keep calling them for an update, we did almost everyday as our worry is that the application will not move along unless we called to prompt for an update.  Providing that you have uploaded all the documentation after submitting your application, just keep prodding for updates.  I think that helped progressed our application quicker.
They are reviewing applications within 7 days and should progress to offer subject to valuation within 10 days (unless it's a complex case which could be longer).  Good luck!

kf3112

I'm currently waiting to hear back from Nationwide. Our valuation was done yesterday morning (as confirmed by the developers on the new build we are hoping to buy), but haven't heard anything from Nationwide - do they usually send text updates to confirm they've received the valuation report? What an anxious few weeks it's been!

Jamaicanmelaff

heston2014 said:

Our latest update:
Lender: HSBC

23/05 - First DIP obtained
26/06 - Offer on house accepted / Full application submitted (had issues with first application due to fatal error, had to submit a second application)
29/06 - Email with link to upload documents received, uploaded: 1 month's payslip, 2 x P60 for bonus evidence and proof of pension contribution
30/06 - Application forwarded to Underwriting team for review
06/07 - Underwriter review
07/07 - Underwriter queries and received text "Offer Subject to Valuation"; Paid booking fees online.

I was not expecting the call today nor the offer text! Thank goodness, the wait is almost over! Not too concerned about the property valuation as we are borrowing 80% LTV and house prices are way above what we are buying it for, even based on online valuation.

Cannot believe we got an offer! Good luck everyone!

Oh I'm so happy for you, I know you were quite worried so I'm really glad they've given you an answer. Congratulations!

heston2014

Jamaicanmelaff said:

heston2014 said:

Our latest update:
Lender: HSBC

23/05 - First DIP obtained
26/06 - Offer on house accepted / Full application submitted (had issues with first application due to fatal error, had to submit a second application)
29/06 - Email with link to upload documents received, uploaded: 1 month's payslip, 2 x P60 for bonus evidence and proof of pension contribution
30/06 - Application forwarded to Underwriting team for review
06/07 - Underwriter review
07/07 - Underwriter queries and received text "Offer Subject to Valuation"; Paid booking fees online.

I was not expecting the call today nor the offer text! Thank goodness, the wait is almost over! Not too concerned about the property valuation as we are borrowing 80% LTV and house prices are way above what we are buying it for, even based on online valuation.

Cannot believe we got an offer! Good luck everyone!

Oh I'm so happy for you, I know you were quite worried so I'm really glad they've given you an answer. Congratulations!

Hope yours is not too far behind! Keep calling them for an update (currently in the queue calling about valuation lol - see I never stop until I get what I need lol)

Jamaicanmelaff

heston2014 said:

Jamaicanmelaff said:

heston2014 said:

Our latest update:
Lender: HSBC

23/05 - First DIP obtained
26/06 - Offer on house accepted / Full application submitted (had issues with first application due to fatal error, had to submit a second application)
29/06 - Email with link to upload documents received, uploaded: 1 month's payslip, 2 x P60 for bonus evidence and proof of pension contribution
30/06 - Application forwarded to Underwriting team for review
06/07 - Underwriter review
07/07 - Underwriter queries and received text "Offer Subject to Valuation"; Paid booking fees online.

I was not expecting the call today nor the offer text! Thank goodness, the wait is almost over! Not too concerned about the property valuation as we are borrowing 80% LTV and house prices are way above what we are buying it for, even based on online valuation.

Cannot believe we got an offer! Good luck everyone!

Oh I'm so happy for you, I know you were quite worried so I'm really glad they've given you an answer. Congratulations!

Hope yours is not too far behind! Keep calling them for an update (currently in the queue calling about valuation lol - see I never stop until I get what I need lol)

When I called they just referred me back to my broker for updates, so I'm harassing her instead. She said she's had loads of trouble with HSBC atm though either through self-employed cases taking ages or being ridiculously delayed like mine or them requesting documents they've already been sent but she'll keep the pressure on them. She'd best had, it's been almost 4 months since my offer was accepted and my poor seller (who already had a sale fall through last minute last year and had to reduce her sale price by 20k after it wasn't selling after that) appears to have the patience of a saint.

RoloCookie

I just logged into my account for West Brom, and the current status is:

Application Reviewed 06-07-2020

Valuation Instructed (A valuation has been instructed) - got super excited thinking this means they are happy with paper work but the broker just said its free so they do it anyway nothing to do with paper work!

They have asked us for more documents: Proof of partners deposit and another payslip and p60 from me. I am waiting for more questions as I know they are coming as self-employment. Anyone know what else they could ask for?