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

ftbamy2020

fiision2020 said:

SierraRomeo30 said:

Sigh another weekend of waiting. Here’s hoping next week is THE week for us all!

I have to wait until at least Tue for my timber/damp report, forward that to my broker and wait for a decision from the lender. I will probably looking at the best part of two weeks just to see if I've got a mortgage offer.   

How much was the timber and damp report? 

fiision2020

ftbamy2020 said:

fiision2020 said:

SierraRomeo30 said:

Sigh another weekend of waiting. Here’s hoping next week is THE week for us all!

I have to wait until at least Tue for my timber/damp report, forward that to my broker and wait for a decision from the lender. I will probably looking at the best part of two weeks just to see if I've got a mortgage offer.   

How much was the timber and damp report? 

I paid £150 

fiision2020

hannah2283 said:

fiision2020 said:

SierraRomeo30 said:

Sigh another weekend of waiting. Here’s hoping next week is THE week for us all!

I have to wait until at least Tue for my timber/damp report, forward that to my broker and wait for a decision from the lender. I will probably looking at the best part of two weeks just to see if I've got a mortgage offer.   

I need to get a damp/timber and wall tie report/quote and then send them plus the HB report to my broker. Sigh. HB report has valued the property £32k lower than I've offered for it (and £35k lower than what it was on the market at....) not sure what happens now!

Did the report state why the property was valued £35k lower than its asking price? Is it an older property? Have you researched what similar properties are selling for in the area? You might be in a good position to negotiate a lower price especially if there are major issues that need fixing.  

hannah2283

fiision2020 said:

hannah2283 said:

fiision2020 said:

SierraRomeo30 said:

Sigh another weekend of waiting. Here’s hoping next week is THE week for us all!

I have to wait until at least Tue for my timber/damp report, forward that to my broker and wait for a decision from the lender. I will probably looking at the best part of two weeks just to see if I've got a mortgage offer.   

I need to get a damp/timber and wall tie report/quote and then send them plus the HB report to my broker. Sigh. HB report has valued the property £32k lower than I've offered for it (and £35k lower than what it was on the market at....) not sure what happens now!

Did the report state why the property was valued £35k lower than its asking price? Is it an older property? Have you researched what similar properties are selling for in the area? You might be in a good position to negotiate a lower price especially if there are major issues that need fixing.  

I got it wrong. £180k is the current reinstatement cost so different to the value. Surveyor put N/A for the value. Houses tend to go for between £180k-£230k in that area and of the same layout etc. Major issues are wall ties, damp, timber. My mum has had this before and assures me it isn’t a big deal. 

mover2020

We applied to Halifax on 29/7 and have had our full offer today!

We’re porting and adding extra but that is a crazy speed!

Trickster33

ftbamy2020 said:

Trickster33 said:

ftbamy2020 said:

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? 

Think they are valid for 3 months after that needs to be done again . 

My home report was done 4 weeks ago so dont know why they have even done the valuation.

Should still stand then , no idea why they have done a valuation ? 

Chrispy_2

My timeline for a Santander mortgage via Trussle. 75% LTV porting existing mortgage to a more expensive house.

16th July - property viewed, offer accepted and AIP via Trussle
17th July - continued full application with Trussle, advised that the recommendation will arrive after the weekend
20th July - recommendation received, documents submitted for review
24th July - full application submitted to lender
25th July - application confirmed as received by Santander. Soft affordability search carried out
28th July - minor query raised by Santander via Trussle. Answered immediately.

Awaiting a further update. For info, I slightly regret using Trussle. Despite the ease of use and simplicity I find the human touch to be missing. I was made to feel like I'm being a nuisance for asking for an update. I didn't really need to use them either because I knew I had to apply with Santander because of an ERC on my existing mortgage.

craig_87

mover2020 said:

We applied to Halifax on 29/7 and have had our full offer today!

We’re porting and adding extra but that is a crazy speed!

Are you Scotland?. I applied 29th also, was told Friday my application was with their valuation team to check over home report. Hoping thats the final stage and ill have an offer soon to.

firsttimebuyerlpl

firsttimebuyerlpl said:

FTB here also. Our timeline so far: 
22nd July - Mortgage application submitted - text confirmation
22nd July  - Confirmation that a valuation has been booked for the 28th July
23rd July - Clearscore showing that a financial associated has been added to my credit report - Does this mean the application is approved?
24th July - MA asked for latest payslip as we both got paid after the application was submitted - sent across
28th July - Assuming valuation has been done. we havent heard any different from NW or MA. 

today (30th) we are still waiting on word from NW or MA to confirm if the valuation was satisfactory or not. Is this a good or bad sign? I dont want to chase our MA just yet as the valuation was only completed yesterday. We havent been asked for any further documents so not sure if this a good sign either. Havent seen a hard search on my credit report yet - not sure on my partners.
Nervous that things arent going to go through as I've heard NW are being strict on all applications. 

I’ve emailed our MB today but she’s always extremely slow at replying and I’m getting worried something has gone a wrong. I can’t even track it online myself as it’s done via a MB. Any suggestions? 

Update.. received notification from clearscore today that a hard search was done on my credit file on the 1/8. Assuming our valuation was completed on the 28th - have heard nothing different from NW or MA. Hopefully we’ll smoke some good news this week. How long have people waited for an offer after the hard search was done? 

mover2020

craig_87 said:

mover2020 said:

We applied to Halifax on 29/7 and have had our full offer today!

We’re porting and adding extra but that is a crazy speed!

Are you Scotland?. I applied 29th also, was told Friday my application was with their valuation team to check over home report. Hoping thats the final stage and ill have an offer soon to.

Hi
No not Scotland, good luck!