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

SierraRomeo30

Here’s hoping to the day going quickly, our MB is confident we’ll get an offer today but I’m not convinced, trying not to get my hopes up but it’s blimmin hard!! We submitted our application 4 weeks ago today

onlyliveonce

SierraRomeo30 said:

Here’s hoping to the day going quickly, our MB is confident we’ll get an offer today but I’m not convinced, trying not to get my hopes up but it’s blimmin hard!! We submitted our application 4 weeks ago today

I dont want to pester our MB. So i popped onto the YBS website and had a chat with someone on there. 

I asked if Accord works to the same criteria and time scale as YBS. He said they do. Allegedly there turn around time when with Underwriters is 4/5 working days.

Im just trying to find some sun light through these clouds.

emzshea

For anyone wondering about a HSBC mortgage (FTB 90% LTV) 
Applied for DIP 17th July
Mortgage advisor meeting 25th July
Mortgage offer through 31st July

I didn't expect them to be so quick! I thought I'd be waiting weeks and weeks. From DIP over the phone to mortgage offer was exactly 2 weeks.

We went direct to HSBC, no mortgage broker. But our situation is quite straightforward, both permanently employed, no furlough, very little debt.

ftbamy2020

hannah2283 said:

ftbamy2020 said:

hannah2283 said:

Had the valuation from HSBC today via the broker. Basically valuing it at £0 unless I get a timber, damp & wall tie report plus a quotation for remedial works. It’s a bit odd because normally they would take the value of works off the value offered for the house (according to my agent) and these are things that can be quite easily repaired. Luckily I have my homebuyers report survey scheduled for this week which will hopefully clarify these issues. I do still want the house though so it looks as though it’s going to be longer, more complicated and more expensive than I thought! Has anyone else experienced this before (and it’s turned out fine?) 

I have just had my valuation back from barclays and they have valued at 0! I had a home report done 1 month ago and it was reported as having no immediate problems and suitable for mortgage. To say I am fuming is an understatement! Not sure where to go from here. 

Ah sorry to hear this. Has a reason been given for the 0 valuation? They should/your broker should tell you why. I have my HB report survey tomorrow and when I spoke to the surveyor yesterday he said that the reason given is quite a common one and should be fine one way or another - just with some extra expense. HSBC are super picky apparently and I’d be unlikely to have the same issue with other lenders. But, I hope you find a way through. 

Yeah the reasons are that it there was no electric so needs a full rewire when in reality the power just wasn't turned on. Full damp proofing but the house has been empty for about 10 years and the area of damp is on the chimney breast which was repaired a couple of years ago and just needs the flashings replaced now but because its been empty and not decorated you can still see where the damp was and we need to get a builder to check the ties on all four walls. So what has happened is they have sent a surveyor from the City to value and older rural property and he's just assumed there will be problems. He was only in the house 15 mins and didn't walk around the outside of it. 
Can anyone tell me if a valuation is necessary in Scotland if there is a recent home report? 

Epsilon20

We got our offer this morning - no shame in saying I cried with happiness!

Toasting my in-laws with water in this 34c heat

lancslass26

Has anyone else rung their banks/building societies directly for an update even when applying through a broker? My MB just seems pi88ed off when I email, even though it's only been a few times?

SierraRomeo30

Congratulations Epsilon! I think there’ll be (hopefully) happy tears in our household too! Enjoy 😊 

SierraRomeo30

lancslass26 said:

Has anyone else rung their banks/building societies directly for an update even when applying through a broker? My MB just seems pi88ed off when I email, even though it's only been a few times?

I haven’t, all our communication has been the MB. It’s a shame you’re is being difficult, although I can imagine how many emails they get chasing updates. It’s frustrating all round isn’t it.

SierraRomeo30

Yours* sorry

lancslass26

SierraRomeo30 said:

lancslass26 said:

Has anyone else rung their banks/building societies directly for an update even when applying through a broker? My MB just seems pi88ed off when I email, even though it's only been a few times?

I haven’t, all our communication has been the MB. It’s a shame you’re is being difficult, although I can imagine how many emails they get chasing updates. It’s frustrating all round isn’t it.

Yeah I feel bad emailing to see if there's an update but she seems certain the valuation wont be due yet even though I've been told by EA that it's been done and returned. Just so frustrating - i'd prefer an update to say there is no update but I suppose they're too busy for that