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

Process90

Our MA has just told us that HSBC don't require any further information from us and that it's now gone to senior underwriter for final decision. 

Anyone have any experience on timescale to decision now? Our MA reckons we'll know within 48hrs.

burge1983

SierraRomeo30 said:

I feel you burge. We have paid the searches and survey. My stomach is permanently in knots, no one has money to throw around do they. 

I know, its not pennies that we're talking about, its a significant sum of money. Mega stressed currently

burge1983

Chilli6 said:

iamap said:

Just reading the comment from SierraRomeo30... Do people generally wait until after their mortgage application is successful before going ahead with the searches? £300 or so risk.

First time buyers. Mortgage in principle. We have an offer accepted with an understanding everyone would like to move promptly. Have a solicitor with all paperwork in hand and surveyor lined up but not booked in. On of us is self employed and the mortgage application we’ve been advised could take a while.

If I were the seller I would want to see some commitment from the buyer, especially if the wait for mortgage could be over a month. A few weeks wait I feel is fine though. Getting started now is also helping you to move it along so I'd take the risk and pay for the searches at least

You'd have to be a lunatic or a masochist to put yourself through this if you weren't committed. Especially as a first time buyer, you end up feeling harangued into action, with very little consideration for your personal needs or circumstances

fiision2020

ng1993 said:

fiision2020 said:

ng1993 said:

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!!

It was 15 working days for me with Saffron. Did they mention anything about a valuation?

Hello,

Got the email yesterday, Mortgage approved subject to valuation so now awaiting the valuation, also they said they’ve sent a letter to my Girlfriends employer as shes worked in her current job for 3 months so they need an Employer reference but should be no issues with this.

Was a massive weight off my shoulders cos I was worried about affordability originally, but i’m confident there should be no issues with the valuation as I felt I got the house on a good deal and built in the 70’s so a solid build.

Do you know if Saffron are long on their valuations and how long did they take to come up with yours? 

Valuation took about a week after receiving confirmation of acceptance subject to approval. There was a further 3 day wait for the valuers report to go back to the underwriters. Unfortunately in my case there were further complications so have not got a formal offer as yet.

ThatDavieGuy

Finally we have approval from TSB!

AIP - 20th June
Full application - 22nd June
Valuation - 30th June
Sent to Underwriters - 1st July
Approval - 4th August

Took a looooooong time but we got there in the end

khtaylor

Nationwide haven't looked at 1 single document yet... 3 weeks since our application was submitted 

FTBNorthernIreland

Has anyone applied to Nationwide and lives in Northern Ireland. We applied last week and have had no word since the initial confirmation. Having read through these forums, it seems like we are in for a long wait.

Drawingaline

Our valuation is booked in for next week.

Application 28th July
Valuation booked 12th August.

Am hopeful now that affordability isn't an issue, as it's a physical valuation and I imagine they wouldn't bother with that if they were going to turn down on affordability. My se income is approx 9k, it's less than a quarter of husband's (non covid affected) income. So now the wait to see if they think there's an issue with the house!

motherofcats

Finally have had the mortgage offer from aldermore!
AIP - 23/06/2020 - went to underwriter but then given the ok
Full application - 10/07/2020 (hard credit check done same day)
Valuation instructed on 20/07/2020
Valuation completed on 24/07/2020
Valuation report all ok 27/07/2020
More docs required regarding deposit 29/07/2020.
Mortgage offer issued 04/08/2020

tiffy78

tiffy78 said:

We applied to Santander on the 17th July, Valuation booked in this week, questions from the underwriters on the 25th July and responded the same dame, now the wait is agonizing, 80% LTV, We have decent deposit so fingers crossed, 1 missed payment 24 months ago, hoping that wont scupper it all

Found out today mortgage approved subject to valuation, thats happening this week so fingers crossed all goes ok