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

chillicheesedog

Aaghh321 said:

It's frustrating isn't it? Just heard HSBC are now at 7 working days turnawound (excl weekends) on docs so they won't even review my payslips until Monday. Then it's 11 working days to get to underwriting. Could be a long wait...

We've been told it's 7-10!
Our docs have been with the underwriter since 3rd of July. Send additional docs on the 14th and still no update from the underwriters... 

28tsw

Aaghh321 said:

It's frustrating isn't it? Just heard HSBC are now at 7 working days turnawound (excl weekends) on docs so they won't even review my payslips until Monday. Then it's 11 working days to get to underwriting. Could be a long wait...

Guess it depends what stage you’re waiting for - we had 5 working days to get accepted pending valuation which happened today so hopefully if they offer tomorrow it will be 8 days to offer.

Process90

Aaghh321 said:

It's frustrating isn't it? Just heard HSBC are now at 7 working days turnawound (excl weekends) on docs so they won't even review my payslips until Monday. Then it's 11 working days to get to underwriting. Could be a long wait...

Depends on some circumstances I'd say but they've been struggling with demand for months. Every application with a self-employed applicant now goes to an underwriter with additional paperwork requested.

Broker submitted ours on 13th July.
Physical valuation booked for 20th July
Note from HSBC via broker in early hours of 21st requesting bank statements, self-assessments, and tax calculations for partner. Also a note querying my employed commission frequency and partner's employed holiday pay.

Now we're just waiting... 

Aaghh321

Process90 said:

Depends on some circumstances I'd say but they've been struggling with demand for months. Every application with a self-employed applicant now goes to an underwriter with additional paperwork requested.

Broker submitted ours on 13th July.
Physical valuation booked for 20th July
Note from HSBC via broker in early hours of 21st requesting bank statements, self-assessments, and tax calculations for partner. Also a note querying my employed commission frequency and partner's employed holiday pay.

Now we're just waiting... 

Mine should be straightforward... LTV 35%, mortgage twice income and been working through the lockdown. My 1st application with them corrupted and they can't remove from their system so may be holding this one up. Will chase again tomorrow and see

jade2612

Hi we are first time buyers and have applied to nationwide threw a broker. We have 22% deposit. Timeline so far is:
application submitted: 15th July 
valuation instructed: 20th July
valuation carried out: 22nd July 

I’m waiting now for the valuation to be received. I’m very stressed waiting for it. Apparently nationwide do the underwriting first before valuation so I’m hoping we are just waiting for a mortgage offer. 

hannah2283

Aaghh321 said:

It's frustrating isn't it? Just heard HSBC are now at 7 working days turnawound (excl weekends) on docs so they won't even review my payslips until Monday. Then it's 11 working days to get to underwriting. Could be a long wait...

My application was submitted last Monday (13th July) and I had the valuation yesterday which was 9 working days between the two. I think it probably depends on the circumstances, my broker said they'd chase HSBC if they hadn't heard anything 5 working days after the valuation.

motherofcats

Valuation happening tomorrow! All being well, I hope aldermore will give me a mortgage offer next week. Fingers crossed! 

Aaghh321

mhannah2283 said:

Aaghh321 said:

My application was submitted last Monday (13th July) and I had the valuation yesterday which was 9 working days between the two. I think it probably depends on the circumstances, my broker said they'd chase HSBC if they hadn't heard anything 5 working days after the valuation.

Hopefully mine will be Monday then. The EA said no one's been in touch to arrange so maybe just a desktop.

fiision2020

I've hit a stumbling block in my mortgage application. The valuation report came back today and the property has been undervalued by £3000. Agreed sale price was £270,000. In the report the valuer says there is evidence of rising damp although does not actually say where this was found. In my broker's email, the lender (Saffron Building Society) has said that I need to obtain a timber and damp report which will be forwarded to the valuer for further consideration. They also go on to say that dependant upon the contents of the report that they may need to hold a retention to the advance........what does that mean?
I have commissioned a specialist to undertake the survey, just waiting to hear back from them when they arrange the booking. My structural survey is not for at least another 10 days.
After reading everyone's valuation report  coming back fine..............this has made me feel a bit down. 

watch3r

hannah2283 said:

Aaghh321 said:

It's frustrating isn't it? Just heard HSBC are now at 7 working days turnawound (excl weekends) on docs so they won't even review my payslips until Monday. Then it's 11 working days to get to underwriting. Could be a long wait...

My application was submitted last Monday (13th July) and I had the valuation yesterday which was 9 working days between the two. I think it probably depends on the circumstances, my broker said they'd chase HSBC if they hadn't heard anything 5 working days after the valuation.

Do you know how it went ??