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

28tsw

barmy2 said:

28tsw said:

Not that it matters but anyone had a search on Experian just disappear? Soft search yesterday is gone when I check today 

Yes funnily enough, we did and I also asked here about it.
it actually showed back on my Experian the day after so it may well be the same for you. No idea why it vanished though I’m sure it’s nothing to be worried about (I was though stupidly!)

How weird! Thanks for reassuring me though 

reb_29

Update on my FRUSTRATING timeframe:

11/06 - Offer accepted on flat

15/06 - Habito recommend HSBC 90% LTV mortgage

17/06 - all documents uploaded ready for application to HSBC. Told HSBC limiting applications from Habito, so taking longer than usual (seems fair enough at the time).

26/06 - Ask for update since nothing heard. Told that Habito still working on applications from 9th June. Presented with alternatives, but seems silly at this point to switch to more expensive option for sake of a couple of weeks...

03/07 - Request further update.

07/07 - Told still working on applications from 9th June (!!!) and again presented with alternatives. Call HSBC immediately to apply direct. Can only get 90% with advise so make appt for Zoom call for 22/07 (earliest available).

22/07 - Meeting with HSBC...

Because of relocation and temporary contract due to covid (I'm a teacher and we don't usually have these, but they couldn't see me teach at interview. There'll still be a permanent position vacant in a year...) the application would have to go to an underwriter and I needed extra docs from employer (in school holidays...). I assume from reading other posts, if it was permanent it would be auto-UW - it's otherwise a v simple application. Adviser tells me "as a friend" that I might be better off looking elsewhere to guarantee being in by September. So applied to Nationwide today but for 85% LTV (thankfully can JUST ABOUT stretch to this) without having to make appt with adviser or submit to UW for AIP.

I really hope the rest goes quickly... NW so far haven't asked me about my future employment (current employment is permanent). In ordinary circumstances this would be so straight forward - first time buyer, teacher, no debts, no dependents, no chain... But currently it's taken almost 6 weeks to SUBMIT the application.

Makes you want to keep renting...

burge1983

our timeline so far

18th June - landlord gives us two months notice to vacate as they want to sell the property. 
23rd June  - AIP with Bank of Ireland 90% LTV with 10% gifted deposit
1st July - Offer accepted on a house we found locally 
10th July - Full application submitted with BOI for a mortgage of £175,000 (minus 10%)
15th July - Valuation instructed for 20th
20th July - Valuation undertook (physical valuation)
22nd July - Valuation report returned at bang on the price we bought for

Have been informed that BOI process is to gather all documents and reports such as valuation before assessing/underwriting. conformation of all this stuff has been sent to MA today and told that this will be transferred over to underwriters for assessment. Been given a date of tuesday for this to be assessed and MA has suggested that hopefully an offer will be made next Friday. Waiting is horrible. we've literally no where to live in 3.5 weeks time if this doesn't go through. 

Trickster33

SierraRomeo30 said:

Trickster33 said:

Can not believe it , that’s us got our offer from Accord ! We are delighted and surprised  9 days from application to offer. I wish you all the best for your applications and will hang about a while to see your news . Good luck everyone 

Great news! Congrats 🥳 

We are still waiting, I’m desperately hoping it won’t go on for another weekend!

Got everything crossed for you , they seem to be on track and speeding up a bit at least . 

HamburgerExpert

Fingers crossed moment for us - buying our first house, a new build and using Help To Buy.

Broker put us with Nationwide. We are having a tough time trying to get them to accept our proof of Disability Living Allowance for my partner's son. We went through a tribunal process to get the DWP to amend the DLA to a higher rate. The DWP apparently do not actually issue a new Award Certificate in these cases, they just provide a letter showing evidence of the revised payments. As a result, while we have all the documentation and letters from the DWP showing a very clear outline of the DLA payments AND bank statements clearly showing the amount being paid in every four weeks, the underwriter is simply saying - "we cannot accept anything but an Award Certificate."

Absolutely baffling - we are tearing our hair out as the amount we are borrowing is quite a bit under our max affordability and they simply refuse to even look at either of our bonuses, which we both have consistently earned for years.

On top of this, because Barrett Homes were going to pay our stamp duty but then the government announced the stamp duty holiday, they switched the incentive to a deposit contribution. This was going to be an over £8000 contribution towards the property - Nationwide immediately told us they simply would not accept this or any cash incentive, even though we were not intending to reduce our own deposit amount from our own funds. I get it, they want us to front enough of our own money but they literally just denied us a nice cash incentive - and we feel it is too late in the process to switch lenders.

Some good news came in today - our broker managed to actually get the case manager at Nationwide to agree that our Disability Allowance evidence is proof enough and will put this through to the underwriter to try and get it through, but we are still very nervous.

Any similar experiences with Nationwide? It's worth mentioning that the valuation was on 10/07 and we both had hard searches from Nationwide logged on our credit reports from 19/07, is this a good sign that things are moving forward?

Lancs1234

Trickster33 said:

Can not believe it , that’s us got our offer from Accord ! We are delighted and surprised  9 days from application to offer. I wish you all the best for your applications and will hang about a while to see your news . Good luck everyone 

Congrats!
It seems its just our underwriter who is being a pain! After a call with the main call centre yesterday, the valuation was miraculously found and attached to the case for the underwriter to issue to offer. 
Fast forward to this morning and the underwriter has emailed saying they cannot find the valuation attached and it will mean the case goes back to the bottom of her pile and will be reviewed again in 8 days. 

Mortgage advisor has sent one not too happy email to the underwriters boss as it is their error and we have already had a week added on due to them 'losing' the valuation before this extra week they're stating.

firstimebuyer1993

BOI just went from 13 working days to 17 working days... This is day 15 for us so we may have to wait one more weekend... I am so desperate for news now

J4mesg

firstimebuyer1993 said:

BOI just went from 13 working days to 17 working days... This is day 15 for us so we may have to wait one more weekend... I am so desperate for news now

Now showing 20 working days. Shambles if you are looking to complete soon.

burge1983

firstimebuyer1993 said:

BOI just went from 13 working days to 17 working days... This is day 15 for us so we may have to wait one more weekend... I am so desperate for news now

I was informed yesterday by our broker that they are reviewing valuation reports from 13th July. Been told that i could be end of next week when we might get a decision

J4mesg

current service timescales for BOI at following link https://www.bankofireland4intermediaries.co.uk