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

KAP0365

watch3r said:

KAP0365 said:

@watch3r congrats!!!

Thanks , now the issues .
- its send by post ( odd as everything else was esign ) 
- valuation is non disclosed ( and I need it for HTB ) so looks like I need an extra valuation 😅

Oh no 😫 these things are never simple are they haha, weird they won’t disclose the valuation but then when we got our current house they wouldn’t either (specialist lender though). At least things are moving forward, we are hoping our valuation will be done and we will get our offer next week! 

watch3r

KAP0365 said:

watch3r said:

KAP0365 said:

@watch3r congrats!!!

Thanks , now the issues .
- its send by post ( odd as everything else was esign ) 
- valuation is non disclosed ( and I need it for HTB ) so looks like I need an extra valuation 😅

Oh no 😫 these things are never simple are they haha, weird they won’t disclose the valuation but then when we got our current house they wouldn’t either (specialist lender though). At least things are moving forward, we are hoping our valuation will be done and we will get our offer next week! 

Well one positive it’s huge move forward and I can chase people now.
spoken with my solicitor, she will sort out the Barclays “non disclosure” so less one thing to worry about. Now waiting for the post man 😅

Epsilon20

My experience has gone from excitement to stress:

With Accord
- 1/7 AIP received 

- 6/7 Confirmation From Broker that full application is being progressed  - she told us it will be a 3 working day wait 
- 7/7 Valuation takes place
- 9/7 Valuation is exact price :-:smile:
- 13/7 Receive word one of our statements has been misplaced (of course we send over AGAIN)

..... and that’s it.

At this time, we are fearing the worst 

watch3r

@Epsilon20 - keep in mind that after the stamp duty cut they are busy . 
my HTB agent when i was applying ( 26/06 ) had 4 days waiting for ATP now its 10 working days.
So i presume they have way more work and not enough staff. 

Trickster33

Epsilon20 said:

My experience has gone from excitement to stress:

With Accord
- 1/7 AIP received 

- 6/7 Confirmation From Broker that full application is being progressed  - she told us it will be a 3 working day wait 
- 7/7 Valuation takes place
- 9/7 Valuation is exact price :-:smile:
- 13/7 Receive word one of our statements has been misplaced (of course we send over AGAIN)

..... and that’s it.

At this time, we are fearing the worst 

I had to send in extra info and found it hard to remain sane but got offer two days later , try not to let it stress you ! ( though I stressed 😀) 

Trickster33

Epsilon20 said:

My experience has gone from excitement to stress:

With Accord
- 1/7 AIP received 

- 6/7 Confirmation From Broker that full application is being progressed  - she told us it will be a 3 working day wait 
- 7/7 Valuation takes place
- 9/7 Valuation is exact price :-:smile:
- 13/7 Receive word one of our statements has been misplaced (of course we send over AGAIN)

..... and that’s it.

At this time, we are fearing the worst 

I had to send in extra info and found it hard to remain sane but got offer two days later , try not to let it stress you ! ( though I stressed 😀) 

Nic34

Long time lurker, first time poster here.

I'm FTB, 75% LTV, joint application with my partner, both of us full time employed and not impacted by COVID-19 (working in IT), clean credit history, no defaults, no debts, good combined income.

We are buying a new build flat to be completed this September, reserved off-plan a couple of years ago and deposit already paid to the developer as part of the reservation process.

We thought our mortgage application journey would be smooth...we were wrong!

Part 1 - NatWest

April 16th - Application submitted through MB

April 20th - Credit check passed

May 5th - Mortgage approved subject to valuation - physical valuation required and blocked due to lockdown

June 18th - Desktop valuation carried out instead of physical valuation as the flat isn't accessible to surveyors yet

July 2nd - Mortgage declined due to the valuers considering the service charges too high for the facilities available in the development.

This was a shock to us, especially after waiting for 2 months for an update. The service charges are high but we think they are justified. And affordability is not an issue.

So back to square one.

Part 2 - HSBC

July 6th - Application submitted through MB

July 7th - Supporting documents requested (proof of deposit, income, address and identity) - originals sent via MB

July 15th - Desktop valuation carried out

July 16th - All requested documents received

...And nothing since!

The wait is nerve-racking, and the lack of updates from our MB doesn't help.

I'm happy to see other's applications are going through.

Aaghh321

I submitted my docs to HSBC on 16th too and still waiting for them to be reviewed. Apparently 9 working day turnaround at the moment so hopefully Monday. Soo frustrating as my original application developed a system error but had gone straight thru to awaiting offer. Typical of HSBC they can't just transfer across the details.

UMACK99

HSBC - full application submitted 25th June
Valuation - 14th July
No update yet on outcome of valuation and MB has said today that it will be another 2-3 working days.  We were also told this earlier in the week.
Not sure if this turnaround in valuation is normal?

PERMOTIO

PERMOTIO said:

Here's my story so far:
FTB, unaffected by COVID-19, self-employed, 65% LTV.
1 June - Submitted Natwest application
3 June - Valuation instructed/returned (desktop)
13 June - chased and they told me they'd messed up and forgot to send some of my documents to underwriters
18 June - escalated and promised a response/update/offer within 24 hours
19 June - More chasing, I'm told I applied for the wrong product and my case will be paused/I should reapply with an advisor
- I decide that I'm done with Natwest due to poor customer service and look elsewhere - 
19 June - go to Trussle, spend a week sending in information for them to review
26 June - Natwest complaints department calls, apologies for poor service and offers compensation 
28 June - application finally submitted with HSBC
8 July - valuation comes back as acceptable

I was told I'd hear back by last week and that didn't happen, and the broker chased and said I'd hear this week.

Got to say, applying for a mortgage is one of the most stressful things I've ever done! It doesn't help that the buyer is chasing the estate agent regularly/needs to move fast. Worried they'll pull out! Fingers crossed I hear soon and good luck to everyone else applying 🤞

Finally got my mortgage offer on July 22. I can't explain the relief!
Now to get overly anxious about the next stage! 🤣