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

Frances13

Yay I can finally join in!
28/07/20 Offer accepted on house
12/08/20 DIP and Mortgage application submitted to Nationwide as porting at 85%.

These next few weeks are going to drag so badly!

28tsw

Lipstick99 said:

TSB via a broker here. 
DIP received
Query over freehold from lender but proof sent back over a week ago. Not sure what their query turnaround policy is like. 
Searches underway and payment to solicitor
And so I wait.... 
It's killing me waiting...

How long have you been waiting so far? My buyer is using TSB and we are now over 4 weeks since she applied. 

söpöpöllö

I'll join as well!

31.7. AIP received. Had drama with our first mortgage broker, but fortunately found someone more competent.
1.8. Second viewing and offer put through.
3.8. Offer accepted, solicitor appointed.
10.8. Full application to HSBC.
12.8. Lender asking separate bank statements for June and July, as they were lumped in one PDF.

Rather nervous at the moment. I'm self-employed and husband is employed. Neither of us were affected by COVID. Credit reports are in order, although my history is a bit on the short side as I'm an EU citizen and haven't been here that many years. 

Lipstick99

28tsw said:

Lipstick99 said:

TSB via a broker here. 
DIP received
Query over freehold from lender but proof sent back over a week ago. Not sure what their query turnaround policy is like. 
Searches underway and payment to solicitor
And so I wait.... 
It's killing me waiting...

How long have you been waiting so far? My buyer is using TSB and we are now over 4 weeks since she applied. 

Hi.. My mortgage full application went in on 23 July.

blacksheepvegan

blacksheepvegan said:

Now I’ve lurked like mad I will post with our timeline info here although it’s a bit fuzzy as the mortgage broker hasn’t been totally clear 

22nd July ; AIP with Santander via broker Soft check done and financial association noted on Experian reports 
4th aug ; view the right house 
5th aug; offer made £20k below asking as work needed, offer declined, offer again £5k more.
6th aug; counter offer accepted, secure for £14k under asking price. 

6th aug; supply accountants cert, copies passports, partners July payslip to broker 
7th aug; instruct solicitors, request home buyers survey via Santander at same time as valuation
7th aug; broker requests landlords name and address, direct debit details for mortgage payments, name of deposit donor, and full property details 
10h aug; Queries re partner being furloughed (always on 100% pay. They wanted to know why he was furloughed. He is a sales manager into fashion retail, so no work whilst they’re closed really) he’s off furlough anyway and been back to work full time for a month now. Queried how my business affected by covid. Explained my industry is recession proof so I’m not affected. 
10th aug; Text from Santander confirming receipt of full applications

and that’s where we are. I am an anxious mess, completely obsessive and unable to stop thinking about it all. We both have excellent credit records, both scores and actual records. Low amounts of debt, including unused credit cards and one car finance payment. We are looking to borrow 2.3x salaries, which is £154k, we were aip for £300k.

im self employed/sole trader but ready to go limited. Wanted to do this all first. 3 years accounts and accountant completed Santander’s certificate for me rather than sa302s. 85% ltv with partially gifted deposit. 

I’m worried we won’t pass just because I’m worried we won’t pass really. We pay our current landlord part bank transfer and part cash for rent, never even crossed our minds that might be a bad idea at any point. But here we are. Our proposed mortgage will be over half the cost of our current rent payments. We are buying in the south west. 

12/8 Automatic update to Broker stating valuation instructed

still no sign of hard checks on credit file, and no other updates, EA haven’t heard from Santander as of yet so could be desktop perhaps. Who knows 

mathdotrandom

Joined today just to join this forum...let's hope it gives me good luck
21 July - offer accepted
23 July - AIP with Virgin Money
24 July - Full mortgage application submitted via broker.
30 July - Valuation
3 Aug - Hear back that the surveyor has deemed property incompatible with lender's criteria - which we did know beforehand so a bit annoyed that my MB still went ahead with it knowing the lending criteria.
7 Aug - MB tells me no suitable mortgages available - need to either increase deposit or price needs to drop so find additional funds and renegotiate with seller.
11 Aug - New price is agreed. AIP with Nationwide for new amount.
12 Aug - Full mortgage application submitted, additional document (gifted deposit form) requested.
...and now the wait begins...(again)
Super worried that something is going to go wrong with the valuation or that they might find issues with my credit history - i have no adverse credit history and as of today have paid off all debt, but have also spent £800-1000 each month over the past two years repaying credit cards (used to be 12k total!!) so hope they don't just assume this is a regular expense if they look at my bank statements (not yet requested).

Jessica2911

Same! Mortgage app went in to Mansfield 10 days ago, within a week we were told the credit/affordability checks were fine. Valuation was instructed on Friday and employer’s references were requested, now we play the waiting game! Fingers crossed for everyone

asherzly92

Lipstick99 said:

TSB via a broker here. 
DIP received
Query over freehold from lender but proof sent back over a week ago. Not sure what their query turnaround policy is like. 
Searches underway and payment to solicitor
And so I wait.... 
It's killing me waiting...

When I spoke to TSB just over a week ago, their turnaround was 8 workings days with any new documents being assessed.
Hopefully not too much more waiting for you

macca2424

Valuation day today after nearly 2 months since I submitted my application and 1 month since it had been accepted subject to valuation. I’m half expecting them not to turn up after all the hassle I’ve had trying to get it booked in the first place. 

Lipstick99

Searches back.. Coalimining issue from 1948.Note says shouldnt affect sale so I am arranging survey. Sol has asked seller for info.