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

lancslass26

jade2612 said:

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. 

Hi, no NW always instruct valuation once application goes in. Just depends on timescales for valuation and underwriting as to whether these happen before or after each other. We submitted day after you but having to wait until 18/8 for valuation but think that’s because it’s rural area

jmcg

jmcg said:

jmcg said:

jmcg said:

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.

16th July - Natwest requested wifes payslips
17th July - HTB Authority to Proceed receieved and sent to mortgage broker and solicitor

20th July - Call from MB as Natwest wanted clarification on Wife's bonus scheme at work. Apparently we are just above the affordability of the mortgage so clarification/further evidence of her quarterly bonus would help us (we didnt declare the bonus in the application as didn't think it would make a difference.)

23rd July - After we submitted 6 mth payslips, lender has come back wanting further clarification on Wife's bonus. They want to see a further year of payslips and contractvshowing bonus guarantees. She receieves a quarterly bonus based on company performance and was on maternity last year before october so going back to June 2018. Also got a letter from work explaining salary and bonus scheme as it is not in her contract. MB says this should be more than enough to evidence it, back to waiting now!

KAP0365

18.07 applied direct to NatWest 
20.07 hard credit checks and payslips requested
22.07 husband bank statements requested 
22.07 valuation instructed
24.07 received email confirming mortgage approved subject to valuation 

can’t believe how quickly it’s gone, hoping the valuation takes place next week 🤞 

MBJUK

Hi all

Feeling a bit stressed about ours - we've just heard from Nationwide (after no word from useless L&C - that's another story) that ours was rejected on affordability, because the underwriter couldn't verify that my cash benefits allowance was taken as cash (I sent them payslips and evidence of the money going into my bank account each month?)

Very frustrated, as we have extremely minimal outgoings, and went through them in full with the broker a number of times. Even without the cash allowance, I know the mortgage would be affordable (I've done my own stress tests on a ridiculous 10% interest rate, lol) but now we've had to show them my employment contract letter and a screenshot of my work's intranet page showing that it's a fixed cash allowance paid monthly (I think they just do it this way so it's not "core" salary, and then they don't need to pay employer pension contributions on it - a bit sneaky).

The valuation was done on Tuesday but no word on the report being reviewed yet.

Has anyone else had success with Nationwide after initial stumbling blocks on affordability? They've got reams of bank statements from me and I'd already calculated all of the outgoings myself for the past 3 months based on actual statements, using those numbers on the application with the broker.

SierraRomeo30

I’m hoping today is the day for us, I’m starting to feel well and truly fed up of waiting. We put our application in on the 3rd, had the valuation on the 13th which has been confirmed as fine. We’re now on the 24th and no offer as of yet. I’m so so hoping it’s not another weekend of waiting. This knot in my stomach won’t go away otherwise 🙈.

uppercaseesteban

Update on anyone waiting on BOI our offer came through this morning, we used a broker. Here is our timeline... 
DIP : 29/06
Application submitted : 03/07
Valuation Instructed : 08/07
Valuation carried out : 14/07
BOI requested more details about address history: 23/07
Offer : 24/07
So in total 15 working days, delighted. 

Trickster33

SierraRomeo30 said:

I’m hoping today is the day for us, I’m starting to feel well and truly fed up of waiting. We put our application in on the 3rd, had the valuation on the 13th which has been confirmed as fine. We’re now on the 24th and no offer as of yet. I’m so so hoping it’s not another weekend of waiting. This knot in my stomach won’t go away otherwise 🙈.

Rooting for you getting an offer today also ! It’s great when you can untie that knot ! 

hannah2283

watch3r said:

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 ??

I asked the broker and she said that I needed to "manage expectations" as it may take 3 working days for the valuation report to come through. Given on Monday I was told there was "no update" and when I pushed it a bit and they logged into the portal they then found out that there was an update, in that all my documents had cleared the initial checks and they were moving to valuation I'm a bit hmm about this! Then got an email on Tuesday saying the valuation was Wednesday - pretty sure HSBC didn't arrange the valuation 24 hours in advance (though I could be wrong)

J4mesg

uppercaseesteban said:

Update on anyone waiting on BOI our offer came through this morning, we used a broker. Here is our timeline... 
DIP : 29/06
Application submitted : 03/07
Valuation Instructed : 08/07
Valuation carried out : 14/07
BOI requested more details about address history: 23/07
Offer : 24/07
So in total 15 working days, delighted. 

Thanks. Congrats
So far for us
DIP 15.7
APP and all docs Submitted 17.7
Not heard anything more. We are in scotland so don't think site valuation is carried out. Think they use home report so hoping that reduces timescales. Hoping ours is with underwriter by end of next week.

firstimebuyer1993

uppercaseesteban said:

Update on anyone waiting on BOI our offer came through this morning, we used a broker. Here is our timeline... 
DIP : 29/06
Application submitted : 03/07
Valuation Instructed : 08/07
Valuation carried out : 14/07
BOI requested more details about address history: 23/07
Offer : 24/07
So in total 15 working days, delighted. 

Congrats!!! We are on basically the same timeline so I have my hopes high now for an offer today!! Same AIP day and our valuation was carried out on 15/07, it's actually day 16 today for us (we have applied on 02/07)