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

fackers_2

fackers_2 said:

Self employed here and applied with Halifax via Broker.

20th June - MIP
22nd June - Income documents submitted along with Mortgage APP
26th June - Underwriters rejected PDF SA302 and requested scanned copies of the printed version (no difference at all).
27th June - Submitted newly requested versions
6th July... Stilllllll waitingggggg and getting impatient! 
9th July - Valuation Instructed! - Woo...

We’ve got movement! - The Underwriters have signed off my income as self employed and now instructed a valuation (incl home buyers report together) Much of a relief for sure. Let’s just hope they don’t undervalue it now (it shouldn’t as 3 houses have sold on that street for the same condition 2 bed etc BUT a couple of houses on the same street have also sold at the same price albeit for 3 bed with very poor attic conversions))...

nwh07

* update * Applied for mortgage through a broker with tsb.
16/06 AIP
18/06 Application sent straight to under writer
09/07 Underwriter requested updated information
any idea what that could mean? is it a good sign? also how long till a valuation as estate agents called to say they haven't been contacted for access yet. Super Nervous.

Bfa10

*update!
It is with great pleasure to announce that Nationwide has issued us a mortgage offer
Full application submitted: 10 June
Valuation instructed: 12 June
Valuation carried out: 15 June
Valuation approved: 16 June
Request for proof of gifted deposit: 19 June (part of funds are from outside EEA)
Documents submitted: 24 June
Documents rejected: 3 July
New deposit proof submitted: 7 July (thankful that we carried on saving, so it was easier to show evidence that funds were readily available in the UK)
Mortgage offer issued: 9 July

Wishing everyone waiting the best and strength needed to see it through. ....on to the next hurdle.

nwh07

Bfa10 said:

*update!
It is with great pleasure to announce that Nationwide has issued us a mortgage offer
Full application submitted: 10 June
Valuation instructed: 12 June
Valuation carried out: 15 June
Valuation approved: 16 June
Request for proof of gifted deposit: 19 June (part of funds are from outside EEA)
Documents submitted: 24 June
Documents rejected: 3 July
New deposit proof submitted: 7 July (thankful that we carried on saving, so it was easier to show evidence that funds were readily available in the UK)
Mortgage offer issued: 9 July

Wishing everyone waiting the best and strength needed to see it through. ....on to the next hurdle.

That is fantastic news! congratulations 

fiision2020

Jamaicanmelaff said:

fiision2020 said:

I'm literally going out of my mind at present. I made the full mortgage application on 19 June and apart from having to send some additional documents, I have heard nothing since. The application was with Saffron Building Society. I was told that there was a 12 day backlog for valuations however that point was surpassed two days ago. Every time I ring the broker he just tells me that he has no other news and just to wait as everything is delayed due to coronavirus. I would appreciate an update now and again even if its just to say that he is still waiting but this guy does not do that. He sounds frustrated when I have managed to contact him (I think more frustrated that I'm calling). The vendors are panicking believing that I do not have my mortgage in place and even put the property back on the market to attract other potential buyers. This only stopped when I threatened to withdraw my offer. This is really causing me a great deal of anxiety and I'm even feeling guilty for calling the broker every two to three days for an update.I don't know if anyone or here as applied to Saffron, they were one of the few lenders still offering 90/95% LTV mortgages at the end of June. What makes matters worse is that they will not speak to me directly. I have been advised to speak to my broker only as they are not allowed to discuss my case with them............arrgh 

Tbh your application is still currently well within the normal timescales at present so your vendors getting antsy and wanting to relist etc is them having unrealistic expectations of how long things take to proceed, particularly given the global pandemic we find ourselves in. It's not even been three weeks yet. It looks like they removed the STC after just over 2 weeks, that's insane in the current climate. Yes, some applications are being approved by some lenders within 3 weeks, but even during normal times application processing times vary and can take a lot longer. Was the 12 day delay for valuations 12 calendar days or 12 working days? Are you self-employed or do you have any other circumstances that would require your application to be manually underwritten?

I feel for you. I had a request for additional documents from HSBC on the 8th of June and they sat in a queue for 4 weeks until an underwriter started assessing them earlier this week. I also tried calling HSBC direct and was just referred back to my broker for any updates. It's a horrible nerve-wracking wait. My valuation hasn't been booked yet (my application went in on the 1st of May, but in fairness to HSBC I couldn't upload my docs until the 4th of June so they couldn't do much for the first month), but I'm in Wales and the property market only opened back up here 2 weeks ago so I'm guessing they want to do a physical valuation and figured they may as well assess my documents first. They updated my broker earlier this week that they will hopefully get back to us by Friday with either a valuation date or a request for more additional documents. There's really not much you can do except wait, but I think your seller just needs to have a bit more patience and understand that most companies aren't running at full capacity atm and that will, of course, have an impact on timescales.

12 working days. It's now day 14. I'm not self-employed. Have had the same job for over 18 years in a relatively stable sector (public transport). I don't know much about the underwriting process or what specific lending criteria Saffron have but in general terms my credit history is very good and other than a personal loan that I'm comfortably servicing, no other debts. I've been told that each case is being dealt with in time order regardless of complexity. There is a chance that I can get the valuation done at my own expense (it was free with the mortgage offer) but is non-refundable if the mortgage application fails for any reason. I'm just feeling a enormous amount of pressure, not helped by the antsy vendors and not being able to speak to the lender directly. My broker is sympathetic but as everyone who is going through (and has been) this process knows that by Thursday if there are no updates, you have that extended weekend (Friday through to Monday) of being in limbo. 

Bfa10

nwh07 said:

Bfa10 said:

*update!
It is with great pleasure to announce that Nationwide has issued us a mortgage offer
Full application submitted: 10 June
Valuation instructed: 12 June
Valuation carried out: 15 June
Valuation approved: 16 June
Request for proof of gifted deposit: 19 June (part of funds are from outside EEA)
Documents submitted: 24 June
Documents rejected: 3 July
New deposit proof submitted: 7 July (thankful that we carried on saving, so it was easier to show evidence that funds were readily available in the UK)
Mortgage offer issued: 9 July

Wishing everyone waiting the best and strength needed to see it through. ....on to the next hurdle.

That is fantastic news! congratulations 

Thank you!

ng1993

fiision2020 said:

Jamaicanmelaff said:

fiision2020 said:

I'm literally going out of my mind at present. I made the full mortgage application on 19 June and apart from having to send some additional documents, I have heard nothing since. The application was with Saffron Building Society. I was told that there was a 12 day backlog for valuations however that point was surpassed two days ago. Every time I ring the broker he just tells me that he has no other news and just to wait as everything is delayed due to coronavirus. I would appreciate an update now and again even if its just to say that he is still waiting but this guy does not do that. He sounds frustrated when I have managed to contact him (I think more frustrated that I'm calling). The vendors are panicking believing that I do not have my mortgage in place and even put the property back on the market to attract other potential buyers. This only stopped when I threatened to withdraw my offer. This is really causing me a great deal of anxiety and I'm even feeling guilty for calling the broker every two to three days for an update.I don't know if anyone or here as applied to Saffron, they were one of the few lenders still offering 90/95% LTV mortgages at the end of June. What makes matters worse is that they will not speak to me directly. I have been advised to speak to my broker only as they are not allowed to discuss my case with them............arrgh 

Tbh your application is still currently well within the normal timescales at present so your vendors getting antsy and wanting to relist etc is them having unrealistic expectations of how long things take to proceed, particularly given the global pandemic we find ourselves in. It's not even been three weeks yet. It looks like they removed the STC after just over 2 weeks, that's insane in the current climate. Yes, some applications are being approved by some lenders within 3 weeks, but even during normal times application processing times vary and can take a lot longer. Was the 12 day delay for valuations 12 calendar days or 12 working days? Are you self-employed or do you have any other circumstances that would require your application to be manually underwritten?

I feel for you. I had a request for additional documents from HSBC on the 8th of June and they sat in a queue for 4 weeks until an underwriter started assessing them earlier this week. I also tried calling HSBC direct and was just referred back to my broker for any updates. It's a horrible nerve-wracking wait. My valuation hasn't been booked yet (my application went in on the 1st of May, but in fairness to HSBC I couldn't upload my docs until the 4th of June so they couldn't do much for the first month), but I'm in Wales and the property market only opened back up here 2 weeks ago so I'm guessing they want to do a physical valuation and figured they may as well assess my documents first. They updated my broker earlier this week that they will hopefully get back to us by Friday with either a valuation date or a request for more additional documents. There's really not much you can do except wait, but I think your seller just needs to have a bit more patience and understand that most companies aren't running at full capacity atm and that will, of course, have an impact on timescales.

12 working days. It's now day 14. I'm not self-employed. Have had the same job for over 18 years in a relatively stable sector (public transport). I don't know much about the underwriting process or what specific lending criteria Saffron have but in general terms my credit history is very good and other than a personal loan that I'm comfortably servicing, no other debts. I've been told that each case is being dealt with in time order regardless of complexity. There is a chance that I can get the valuation done at my own expense (it was free with the mortgage offer) but is non-refundable if the mortgage application fails for any reason. I'm just feeling a enormous amount of pressure, not helped by the antsy vendors and not being able to speak to the lender directly. My broker is sympathetic but as everyone who is going through (and has been) this process knows that by Thursday if there are no updates, you have that extended weekend (Friday through to Monday) of being in limbo. 

Hello, I posted earlier this week that I applied for my Mortgage with Saffron BS on the 09/07. I’m aware that there is a 12 day behind process too and was advised by my broker of this, plus I was on pins abit with it being accepted as i’m not a ‘perfect’ applicant and applying for 95% mortgage in these times will be tough.

Since you’ve done the application and paid the fee, have you heard or done anything else since? Or are you still literally waiting to hear if it has gone to underwriters or if a valuation has been done? I’m hoping that it’ll be done before the start of August

watch3r

macca2424 said:

My latest update with Barclays is that my application has been accepted subject to valuation which has now been instructed but my broker doesn’t have a date for it yet. It’s been just over 3 weeks so far so hopefully not too much longer to wait. 

I was told by Broker they will contact my developer this week to make an appointment that was Tuesday, it’s Thursday and still no date .
ill give him a brake Today start chasing everything Tomorrow 😁

update

Survey is all booked for Friday 17th. 

macca2424

I've been told that mine is a desktop valuation so hopefully will be soon.

Memie

We have our approval Halifax applied 16/6 

good luck everyone 

vbw
bee