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

AlrightBoy

Absolutely losing my head waiting for Halifax now. Our application was submitted on 29th June and our valuation was on 16th July and confirmed as being agreed, but still no offer! I'm never buying a house again after this.

SierraRomeo30

Haha AlrightBoy, I’ve said the same - put me off for life this stress has!

macca2424

Has anyone contacted Legal & General before in relation to their valuation? They were instructed by Barclays on June 9th to carry out my valuation, initially they said it would be a desktop one but just last week I was told by my broker they are now doing a physical valuation however it still hasn’t been booked in with my developer nearly a month after initial instruction. Just wondering if ringing them myself to find out what is actually going on will do much good?

pearsforlife

SierraRomeo30 said:

Haha AlrightBoy, I’ve said the same - put me off for life this stress has!

You haven’t experienced stress until you have had an 18 week wait from application to offer with precise mortgages. Everything else after that experience feels dreamy.

hannah2283

My current timeline..
9th June - AIP with Natwest
26th June - put offer in, offer accepted
9th July - documents finally submitted to Habito for HSBC 75% LTV mortgage
13th July - text from Habito to say application had gone in
22nd July - valuation
27th July - broker tells me they've given the property a current value of £0 but with necessary remdial repairs the value that I offered for it. Panic.
30th July - survey carried out, receive HB report, backs up what is in the valuation (wall ties need replacing, render needs a proper look, and that there's a bit, but not much damp)
3rd August - have contacted broker for advice on next steps (will HB report plus quotes for work be enough, or do I need to get the damp/timber/wall tie reports done for HSBC too?), contacted agent to see if they can sort the quotes for me (they said they could last week)
It's all very frustrating, there's no chain on either end (I'm a FTB, seller has already moved out), the repairs that need doing a very standard for that sort of property (late victorian mid terraced house) but it's very much dependent on the documents that HSBC want and how quickly we can get them, and then at the discretion of the underwriter what they decide to do re: the mortgage. The fact that they slapped a £0 figure but with the repairs it would be what I offered for it sort of makes me hopeful that it might be ok? And shouldn't cost too much to fix. But it's very much the waiting and not knowing. Flat contract ends at the end of October so the clock is ticking. Anyone been in this situation before?

ng1993

Current update with myself:

23/06 - AIP with Saffron for 95% mortgage (Got it via a refferal originally)
29/06 - Offer accepted on house for £175k
07/07 - Mortgage application submitted with Saffron via broker, told 12 working days
21/07 - With underwriters, told ANOTHER 12 working days!

Rang for an update this afternoon and was told that it should be a decision this week, Been a long long process!!

Chrispy_2

Chrispy_2 said:

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.

Had a text from Santander an hour ago informing me of the full mortgage offer. 5 working days from application to offer.

firsttimebuyerlpl

leodis23 said:

firsttimebuyerlpl said:

Our application is still pending wit NW too. Application received on the 22nd of July, valuation completed on the 28th, hard credit search seen on my
credit file on the 1st of August but our MA there is a 10 working day wait for the underwriters at the minute. We haven’t received any text message from NW since the valuation was booked in. Hoping the fact a hard search was done on my credit file means things are getting closer to an final answer. How long did people wait from hard search to getting an offer? 

It's been 8 days since my application was received and I've not even had the valuation text yet... NW must be really inundated with applications at the moment.

I’ve just spoken with NW and they said everything looks good and on track but they have no received the valuation report yet. Told her it was due to be carried out on the 28th but she can’t confirm if it has or not because they haven’t received the report back. How long does it take from when the valuation is done to NW or any lender receiving the report? 

SierraRomeo30

Well fed up, got an update from MB today saying Accord have advised it could be the end of the week before we hear anything because processing times have increased again. This will be the 3rd week in a row that they have said this. The MB have stressed the urgency and asked that it be looked at by the underwriters as a priority but no idea if this will make a difference. Our vendors are miffed and my nerves are just about hanging on because of worrying about them pulling out.

hannah2283

SierraRomeo30 said:

Well fed up, got an update from MB today saying Accord have advised it could be the end of the week before we hear anything because processing times have increased again. This will be the 3rd week in a row that they have said this. The MB have stressed the urgency and asked that it be looked at by the underwriters as a priority but no idea if this will make a difference. Our vendors are miffed and my nerves are just about hanging on because of worrying about them pulling out.

how frustrating. I hope that this week is actually the week - fingers crossed for you.