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

Tilly111213

fiision2020 said:

Tilly111213 said:

How are you managing the pressures of estate agents / the other side in terms of contracts / getting surveys etc? I don't want to pay out for a building survey until I have my mortgage offer - is that usual? Or do people just accept the risk and get it done?

I was willing to pay for a survey before getting my mortgage offer however when the vendor relisted the property back on the market I decided to proceed more cautiously. I understand that sellers sometimes get a lot of time wasters and in my case the vendor had two previous sales fall apart. However to show my commitment I instructed and paid my solicitor to begin the searches and chased the mortgage application almost daily. Valuation is booked for next week however I'm waiting until I get a formal offer before getting a building survey done. Its an older property so will be looking to get the most expensive survey done but don't want to commit to any further expenditure until that offer is in place. 

I think it's fair enough to proceed cautiously - the building survey plus solicitor's fees is a lot of money to lose! I have also instructed solicitor but don't want to spend more until I am 100% certain! Hopefully mortgage offer will be end of this week, beginning of next...

fiision2020

Tilly111213 said:

fiision2020 said:

Tilly111213 said:

How are you managing the pressures of estate agents / the other side in terms of contracts / getting surveys etc? I don't want to pay out for a building survey until I have my mortgage offer - is that usual? Or do people just accept the risk and get it done?

I was willing to pay for a survey before getting my mortgage offer however when the vendor relisted the property back on the market I decided to proceed more cautiously. I understand that sellers sometimes get a lot of time wasters and in my case the vendor had two previous sales fall apart. However to show my commitment I instructed and paid my solicitor to begin the searches and chased the mortgage application almost daily. Valuation is booked for next week however I'm waiting until I get a formal offer before getting a building survey done. Its an older property so will be looking to get the most expensive survey done but don't want to commit to any further expenditure until that offer is in place. 

I think it's fair enough to proceed cautiously - the building survey plus solicitor's fees is a lot of money to lose! I have also instructed solicitor but don't want to spend more until I am 100% certain! Hopefully mortgage offer will be end of this week, beginning of next...

My feelings exactly.

[Deleted User]

can I join? I am applied with Halifax . My husband is self employed and I’m employed as well .  
11/06: DIP
22/06: full application  
24/06: credit search 
03/07: SA302 clear copy
15/07: bank ask 3 months statements for (self employed)
Anyone get same situation and how long time take get a positive results

Jamaicanmelaff

Tilly111213 said:

How are y ou managing the pressures of estate agents / the other side in terms of contracts / getting surveys etc? I don't want to pay out for a building survey until I have my mortgage offer - is that usual? Or do people just accept the risk and get it done?

Honestly, despite the fact my offer was accepted back in March, both the seller and the EA have been super patient and understanding. In that respect I’ve been really lucky. They know I still haven’t paid for the searches or organised the survey but there’s been no pressure. I’ve kept them completely up to date with all delays and developments. The only thing I’ve paid for so far is a £35 damp report. Spoke to the EA to discuss the outcome of that today and just got an, “all right, sweetheart, give us a call if you need anything else and we’ll be in touch if we hear from HSBC to book the survey, otherwise just let us know when you hear from them.”

fackers_2

San81 said:

can I join? I am applied with Halifax . My husband is self employed and I’m employed as well .  
11/06: DIP
22/06: full application  
24/06: credit search 
03/07: SA302 clear copy
15/07: bank ask 3 months statements for (self employed)
Anyone get same situation and how long time take get a positive results

I’m reassured by my MB that it’s all good - my valuation and survey is tomorrow. But it doesn’t settle me if Halifax also asks me for previous 3 months of accounts. Is this personal or business account? 

PS I’m self employed and applying solely up to £200k. (SA302’s and ID’s all passed). 

motherofcats

Spoke with my MA earlier today. Aldermore have asked if I am on a DMP? I am not and my debts are settled, so a bit confused about that! 
They asked if partner is living with me, he is just he isn't on the mortgage (his credit rating is dire and all the deposit is coming from me). 
So I guess he will have to sign something saying he has no claim to the property.
Hopefully aldermore will instruct the valuation tomorrow! 

jmcg

We're in this boat now, and it is so stressful! We have reserved a new build property and gone through the process, I am posting partly for my sanity and so I can see how we are progressing.

We are using HTB and First Time Buyers. We had viewed a few properties in the area a couple of times before settling on a property still being built (roof on and in final fixes). Using a gift deposit from family abroad which adds a spanner in the works.

Before we reserved I had done a few affordability calculators to see what would be feasible and done some initial checks with Habito to make sure what our range was.

27th June - Reserved property (paid £99 fee to be refunded upon completion) with Vendor, they suggested a Mortgage broker and Conveyancer to go with. (I have a credit score check by Natwest on this date which is a bit strange)

28th June - Checked with Habito to see which mortgage they recommended and intial affordability, send out some requests for quotes for conveyancers.

28th June - Phone call from mortgage brokers suggested by Vendor, call with Mortgage advisor booked in for 6th July.

29th June - After a few quotes, the conveyancer suggested by vendor was cheapest (and they offered a discount due to referral) and we instructed them.

2nd July - First telephone meeting with Mortgage advisor (managed to get an earlier appointment to pull timeline forward by a few days). Sent across most required docs (Payslips, P60s etc). They suggested which mortgage to apply for, this matched the suggestion from Habito which gave me some confidence (Gone with Natwest fixed 5 yr). Went through full affordability for myself and wife, revewing all payslips, CCs etc. I later found out we had been given an AIP at this point.

6th July - Some delays getting gift deposit letter sorted and transfer of funds, copies sent to MA for full application. Copies also sent to Conveyancer.

9th July -  Paid valuation fee of £248 (£250 cashback on completion). Payment for searches made to conveyancer (£150)

10th July - I had forgotten to completed HTB declaration, finally got this over to MA

13th July - Confirmation from MB that full application submitted, advised to keep an eye out for the HTB Authorisation to Proceed.

And that is where I am upto at the moment, Sales advisor has spoken to the mortgage broker and been advised that mortgage is approved subject to proof of income/valuation and that they are waiting on valuation which gives me confidence.

Mortgage broker said to give it about 4 days for documents to be assessed and valuation to be instructed/booked. Going to give a bit of a chase tomorrow midday if no further updates. Everyone I have spoken to has given me no reason to be concerned but can't help worrying that the worst will happen. While this has gone on we've been able to pick flooring etc with the vendor which I am taking as a good omen.

Does anyone have any tips on how to get through waiting for an offer?!

FTB_Yorks

Morning all!
Long time reader, first time poster here. This forum has been a HUGE help during the agonising wait for our mortgage offer so I wanted to share our timeline below in case it helps anyone else feel more at ease. Our lender is Nationwide and I've read a lot of other people's experiences that were very different to ours! Anxiety has been particularly bad as we applied for 95% LTV and two days after our application went in they pulled the product.
My partner and I are both employed full time, however I have been on furlough since March.

Offer accepted - 3/06
DIP application - 09/06
DIP approved - 11/06
Payslips/statements etc sent ahead of full application appointment - 11/06
Full application appointment - 16/06
Text to confirm application submitted - 16/06
Text confirming valuation booked - 17/06
Return to work letter supplied - 18/06
Valuation - 22/06
Text confirming valuation report received for review - 22/06
Hard credit search - 23/06
Call re life insurance (we also asked about the valuation on this call as we hadn't heard anything. They confirmed it had been valued at our offer price. Phew!) - 25/06
Confirmation that return to work letter was validated (I've been on furlough) - 30/06
Told we should have an offer within 5 working days - 03/07
Chased again to be told they didn't have the proof of deposit signed of internally but should hear within 3 working days - 09/07
Chased after three working days to be told our deposit amount had been keyed in to the system incorrectly - 14/07
Called Nationwide mortgage advisor to rectify - 15/07
MORTGAGE OFFER TEXT AND EMAIL - 15/07

We'd also taken the risk to complete the full survey, electrical survey, asbestos survey and timber survey. We've also instructed our solicitor already so hopefully not too much longer to wait on that.

Happy to help if anyone has any questions at all. We're first time buyers and this forum has really helped with understanding the process and served as a reminder that everyone's journey is different (but still as stressful!).

Happy Thursday to all x

firstimebuyer1993

FTB_Yorks said:

Morning all!
Long time reader, first time poster here. This forum has been a HUGE help during the agonising wait for our mortgage offer so I wanted to share our timeline below in case it helps anyone else feel more at ease. Our lender is Nationwide and I've read a lot of other people's experiences that were very different to ours! Anxiety has been particularly bad as we applied for 95% LTV and two days after our application went in they pulled the product.
My partner and I are both employed full time, however I have been on furlough since March.

Offer accepted - 3/06
DIP application - 09/06
DIP approved - 11/06
Payslips/statements etc sent ahead of full application appointment - 11/06
Full application appointment - 16/06
Text to confirm application submitted - 16/06
Text confirming valuation booked - 17/06
Return to work letter supplied - 18/06
Valuation - 22/06
Text confirming valuation report received for review - 22/06
Hard credit search - 23/06
Call re life insurance (we also asked about the valuation on this call as we hadn't heard anything. They confirmed it had been valued at our offer price. Phew!) - 25/06
Confirmation that return to work letter was validated (I've been on furlough) - 30/06
Told we should have an offer within 5 working days - 03/07
Chased again to be told they didn't have the proof of deposit signed of internally but should hear within 3 working days - 09/07
Chased after three working days to be told our deposit amount had been keyed in to the system incorrectly - 14/07
Called Nationwide mortgage advisor to rectify - 15/07
MORTGAGE OFFER TEXT AND EMAIL - 15/07

We'd also taken the risk to complete the full survey, electrical survey, asbestos survey and timber survey. We've also instructed our solicitor already so hopefully not too much longer to wait on that.

Happy to help if anyone has any questions at all. We're first time buyers and this forum has really helped with understanding the process and served as a reminder that everyone's journey is different (but still as stressful!).

Happy Thursday to all x

Congratulations!!!! It makes me happy to hear about other people getting their mortgage approved as I am still worried sick about mine... I am also still worried about the valuation too as we have offered 10k above the asking price (but so did many other people). Hopefully, the valuation will come in clear, otherwise, we may have to negotiate again...

xx_mstilda_xx

We received our mortgage offer from HSBC yesterday morning 😃 Phew! Have to say realistically it's been a quick process, especially given the current situation, but obviously it's been incredibly anxiety-inducing and has felt like forever! 

26/06/20: DIP & Full App submitted by broker.
02/07/20: Valuation completed. (Sellers EA advised appointment booked so believed to be physical).
03/07/20: Valuation confirmed as satisfactory with sale price - update due early next week.
08/07/20: Chased for update. Mortgage approved and offer due to be issued.
13/07/20: Chased for update. Erroneous ID tasks had been created on our case. HSBC to clear down and issue offer.
15/07/20: Offer received by e-mail, to follow by post. Offer as per illustration.

I've now paid the initial Solicitor's fees for the searches so on to instructing a surveyor... Eeeek! 

Good luck all! 🤞