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

lancslass26

jade2612 said:

Our mortgage with nationwide so far. 

Applied 15th July 
valuation 22nd July 
update today 27th July it’s away with the underwriters. I don’t know if this means it’s bad news. I thought nationwide did their underwriting before the valuation. Has anyone else expierenced this and still had good news? 

All applications have to go to underwriters, sometimes this is more manual if more complex employment, bonues, self employment or can be electronic if more straightforward - low LTV or fully employed. Have you checked Equifax report? Soft searches should have shown on day of application or DIP and then hard searches will show once with underwriters?

burge1983

Still awaiting our application to be assessed with BOI. Still no hard credit searches carried out on the application submitted on 10th July. Valuation completed last monday report submitted to them and passed last wednesday. Just waiting for underwriter review apparently, which should be being started this week sometime. Uncertainty is driving me nuts

lancslass26

Lancs1234 said:

Finally got our offer! After applying on the 15th of June this morning we have received our offer from Accord! Hopefully everything will run smoothly from here. 

Good luck to everyone waiting to hear!

Brilliant news - Congrats..

jade2612

lancslass26 said:

jade2612 said:

Our mortgage with nationwide so far. 

Applied 15th July 
valuation 22nd July 
update today 27th July it’s away with the underwriters. I don’t know if this means it’s bad news. I thought nationwide did their underwriting before the valuation. Has anyone else expierenced this and still had good news? 

All applications have to go to underwriters, sometimes this is more manual if more complex employment, bonues, self employment or can be electronic if more straightforward - low LTV or fully employed. Have you checked Equifax report? Soft searches should have shown on day of application or DIP and then hard searches will show once with underwriters?

So we are both employed full time with the nhs so pretty secure jobs. We’re only borrowing 78% of the value and it’s a cheap mortgage of less than £70,000. But my husband has 1 settled default which is worrying me even though it was for a very low amount and 4 years old. I must keep an eye on my credit reports I seen on Equifax 3 separate searches on both mines and my husbands. 

chillicheesedog

Think I'll go mad if it isn't this week. Hope everyone gets an update soon. 

RoloCookie

Just heard from the MA. The underwriters have noticed our income dropped significantly pre COVID. This was there was a change from self-employment to a Ltd. Therefore, for the last 3 months, not much income has been paid into the self-employed bank (Need to keep it open until November as three big projects are going on and can not change 'companies' even though I'm the same person). Just sent 6 months of Ltd and personal bank statements and PRAYING they will see a difference. They said it doesn't go to accountants until you pass affordability (which is so annoying as it would make it so much clearer). From April 2020 until today the xero software profit form shows 27k profit so far in Ltd business. 
Please pray we will be ok. I have a feeling we won't. Especially as pre COVID we spent so much money and I used bet365 a little bit also.

Trickster33

Lancs1234 said:

Finally got our offer! After applying on the 15th of June this morning we have received our offer from Accord! Hopefully everything will run smoothly from here. 

Good luck to everyone waiting to hear!

Fantastic to hear it , congrats 🥳 I got mine last week but am still waiting for the hard copy through the post , the waiting doesn’t stop but the relief is awesome ! 

lancslass26

jade2612 said:

lancslass26 said:

jade2612 said:

Our mortgage with nationwide so far. 

Applied 15th July 
valuation 22nd July 
update today 27th July it’s away with the underwriters. I don’t know if this means it’s bad news. I thought nationwide did their underwriting before the valuation. Has anyone else expierenced this and still had good news? 

All applications have to go to underwriters, sometimes this is more manual if more complex employment, bonues, self employment or can be electronic if more straightforward - low LTV or fully employed. Have you checked Equifax report? Soft searches should have shown on day of application or DIP and then hard searches will show once with underwriters?

So we are both employed full time with the nhs so pretty secure jobs. We’re only borrowing 78% of the value and it’s a cheap mortgage of less than £70,000. But my husband has 1 settled default which is worrying me even though it was for a very low amount and 4 years old. I must keep an eye on my credit reports I seen on Equifax 3 separate searches on both mines and my husbands. 

I think the way they do it is.. when DIP is done and soft searches, it will alert if they need to manually underwrite or if something isn't straightforward. So possibly depends how long ago the settled default is. Each bank has different criteria. On Equifax on the search page, it has 2 tables, the top table is hard searches and the Table 2 is soft search. If the 3 searches are on the lower table then you won't have had hard searches done yet. Hope that makes sense!

Girlisgettingthere

jade2612 said:

Our mortgage with nationwide so far. 

Applied 15th July 
valuation 22nd July 
update today 27th July it’s away with the underwriters. I don’t know if this means it’s bad news. I thought nationwide did their underwriting before the valuation. Has anyone else expierenced this and still had good news? 

Hi Jade
My partner had 2 5 year old defaults ( 1 unsettled ) and he put the application into Halifax on Thursday (sole application) and he got his mortgage offer this morning. I'm so shocked with how quick it happened however we are in Scotland and don't need the valuation etc as he already had the home report. Hope this puts your mind at ease.

lemliss

I'm with Nationwide and they did my hard search on transunion. X