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

LydiaLunches

I’ve noticed a few posters getting to approved ‘Subject to valuation’. We applied to Accord last Friday and the valuation came though on Monday - so the first thing done? Is this if it’s seen as a very simple one maybe it’s just got on with or could I see it as a good sign that the mortgage application will go well?!

fiision2020

Finally my offer came through this afternoon. Brief recap:
18 Jun offer accepted 
19 Jun AIP and full application
22 Jun Info required by lender
23 Jun Solicitor instructed to carry out searches
02 Jul further info required by lender
21 Jul Searches returned
23 Jul valuation carried out. Request for timber/damp report
28 Jul Timber/damp survey carried out
4 Aug Timber/damp survey forwarded to lender
5 Aug Full structural survey carried out
13 Aug Timber/damp report returned to lender after first being sent to valuer for advice.
14 Aug Offer.
 There was a down valuation of £3000 due to suspected rising damp. The timber/damp report supported this claim of rising damp and a costing of £3600 for remedial work. Offer was for full amount applied with no retention or other stipulations. I'm just so relieved as it just seemed to drag out for ages with the vendor challenging the timber/damp report and threatening to put the property back on the market. 

blacksheepvegan

fiision2020 said:

Finally my offer came through this afternoon. Brief recap:
18 Jun offer accepted 
19 Jun AIP and full application
22 Jun Info required by lender
23 Jun Solicitor instructed to carry out searches
02 Jul further info required by lender
21 Jul Searches returned
23 Jul valuation carried out. Request for timber/damp report
28 Jul Timber/damp survey carried out
4 Aug Timber/damp survey forwarded to lender
5 Aug Full structural survey carried out
13 Aug Timber/damp report returned to lender after first being sent to valuer for advice.
14 Aug Offer.
 There was a down valuation of £3000 due to suspected rising damp. The timber/damp report supported this claim of rising damp and a costing of £3600 for remedial work. Offer was for full amount applied with no retention or other stipulations. I'm just so relieved as it just seemed to drag out for ages with the vendor challenging the timber/damp report and threatening to put the property back on the market. 

Congratulations 🥳 

blacksheepvegan

blacksheepvegan said:

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 application

12/8 Automatic update to Broker stating valuation instructed

13/8 request for clarification on relationship of deposit gift giver, asked for copy of partners payslip with company name on it (broker enjoyed showing them where it is in the copies they’ve already had)
14/8 request for accountant to add commencement date to certificate and resubmit. 

Essentially our broker is confident they’re being this pedantic because they need to be seen to be asking lots of questions. Not had requests for any other documents, and no word on valuation yet. Hopefully news next week as it’s with the underwriters. Fingers crossed!

Sparklestar1127

We have applications in with Platform and Nationwide. As we had only just remortgaged to Nationwide on July 1st they wouldn’t let us apply until our first payment had gone out. Which was Aug 3rd!! So we applied to Platform for the DIP to provide to EA (NW weren’t able to even do that) 

So Platform timescales are..
-Application and soft search July 17th 2020
-Valuation instructed and more paperwork asked for (Hubby self employed bank statement and explanation of impact of COVID-19 on the business as he’s self employed) July 31st 2020
- Valuation carried out (physical) August 5th 2020
 Still waiting for documents to be reviewed, apparently Monday. 

If NW decline or worse just don’t quite get back before exchange, we will have to pay NW 5.8k ERC and go with Platform. The best case scenario for us would be to be able to squeeze a NW offer in before exchange but that is now looking unlikely due to timescales. 

-Nationwide DIP accepted August 7th 2020 (manually looked at due to SE)
-Application submitted August 11th 2020 due to a system error hold up and soft search carried out. 

We wait. 

I’m glad the MA advised is to go to Platform as I think we’d really be in a time pickle had we not have. But we shall see 👀 

What a palava!! Good luck everyone! 

adrian84

05.08 aip with halifax
06.08 application submited
06.08 hard search on our credit files
07.08 soft check/ affordability check
11.08 valuation took place
13.08 underwriter requested front cover of payslip or p60, i assume because on the payslips that i get online from the company doesn.t show anywhere the name of the company, submited p60 but on the p60 it shows 300gbp deducted for student loan, it was taken by mistake as i am still studying and told the broker to explain also this in a note to avoid further questions. Deduction were stopped in may this year. I hope will not affect in any way the decision of the lender and added more stress to the wait. I was almost sure they will issue the offer on 13

RauHughes

Here's my journey with Halifax so far, slow and painful is all I can describe it as

13th July - DIP online with Halifax

20th July - offer accepted @ £215k

21st July - Broker appointed

22nd July - Initial broker appointment, DIP reran with Halifax, Approved subject to verification of credit bureau information.

23rd July - Full app submitted 

24th July- 2 x hard searches appear on TransUnion and Equifax. 1 on Experian 

29th July - Affordability soft search appears on TransUnion and Equifax.

2nd August - Chase broker for update 

3rd August - Broker advises valuation completed (desktop) and agreed at purchase price. Halifax request last month's payslip for wife as 'She's been back at work for a full month now' Wife's on maternity leave until October, relay this info to broker and advise there is no payslip to show. I has been on furlough until 1st July, assume they want my payslip and send.

6th August - Broker advise Halifax were mistaken, they want wife's last payslip before mat leave started (this has already been sent!) - send last payslip (Feb, part month) Jan payslip as last full month, return to work letter confirming hours and pay, HMRC confirmation of tax code (she worked a second job in 2019/20 year so code was low on payslips)

Waiting....

More waiting....

Bit more waiting...

14th August - contact broker for update. Told Halifax still reviewing docs. Ask what the current SLA for additional doc review and I'm told six working days. 14th is the sixth day. Broker agrees to chase Halifax.

Back to waiting.... At this stage, we don't even know if the 'subject to verification of credit bureau information' clause of the DIP is resolved as no one has told us specifically. The broker things we're into the 'box checking' stage of the application, but we're on a knives edge and still feel like we're going to be rejected after nearly a month or suspense! 

Vender's solicitors getting pushy for an update. Hopefully Halifax decide to update us this week...

dpenney22

Joining the band wagon here because getting very nervous!

15/7: DIP through mortgage broker

20/7: Offer accepted on New build flat (already fully built and ready to move into) using HTB scheme

31/7: Full application via broker to Halifax

5/8: Proof of deposit of personal deposit and HTB deposit required

7/8: HTB authority to proceed recieved
9/8: Documents sent via broker to lender

13/8: Emailed both broker and estate agent for update, broker said will be another week at least to hear anything and that they will know when valuation has been booked in, estate agent said valuation booked in for 18th august (tomorrow!!) broker obviously didn't know this information

Now just waiting for the valuation and hoping we should recieve offer after this! I am on furlough but my other half (joint mortgage) has a lot greater salary than me and would cover the mortgage on his own so I'm assuming this is why I haven't been questioned on this further!

I am in a rented flat with my tenancy up on the 20th September and really hoping things start to move quicker so I don't have too much of a gap between homes!!

hwilson10

I'm right here with all you waiters out there;

17/7: Offer accepted on house, vendor buying a new build so only a chain of two.

21/7: DIP approved and full application submitted directly with HSBC
5/8: Application updated to "ready for offer on HSBC mortgage application screen
14/8: Chased Mortgage team for an update, they claim the application is still with the underwriters but as it's close the the end should get an offer within the week. 
I'm starting to go mad, average times look to be 2-3 weeks so I've no idea why ours is taking so long !!!

adrian84

adrian84 said:

05.08 aip with halifax
06.08 application submited
06.08 hard search on our credit files
07.08 soft check/ affordability check
11.08 valuation took place
13.08 underwriter requested front cover of payslip or p60, i assume because on the payslips that i get online from the company doesn.t show anywhere the name of the company, submited p60 but on the p60 it shows 300gbp deducted for student loan, it was taken by mistake as i am still studying and told the broker to explain also this in a note to avoid further questions. Deduction were stopped in may this year. I hope will not affect in any way the decision of the lender and added more stress to the wait. I was almost sure they will issue the offer on 13

Today application approved and offer sent, very quick response after the payslip request i was expecting a 7 8 working days delay until they take the turn again.