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

blacksheepvegan

spoke to our broker yesterday evening, he had chased the BDM at Santander as it’s been sat with final underwriters for three working days now. No news is good news people keep telling me. I’m pulling my hair out. Have took the risk and paid £205 searches fees to solicitors this morning. Really don’t want the vendor to be panicking and we really don’t want to be delaying. There is no chain. 

firsttimebuyerlpl

What date did you submit your application ?

blacksheepvegan

firsttimebuyerlpl said:

What date did you submit your application ?

It was August 10th we got the text. We’ve back and forthed with extra info, they instructed valuation and they haven’t asked for anything more for over a week. So hoping it’s the final bit. I’m self employed and my partners full time normal job so I expected underwriters to take a bit of time! But the bdm simply told the broker they’re just running behind it’s that simple 

FTBin2020

FTBin2020 said:

FTBin2020 said:

FTBin2020 said:

FTBin2020 said:

My partner and I are both FTB applying for a Mortgage with Natwest VIA a brooker, we're using the help to buy equity loan so only required a 75% LTV. Currently playing the waiting game! Here's our time line so far:

31/07 - DIP done by brooker accepted
05/08 - Full application submitted
12/08 - Payslips requested and sent
14/08 - Valuation requested and booked for 24/08
17/08 - Payslips marked as success on tracker. Proof of gifted deposit and confirmed of our loan payments requested (These were all sent to brooker at the start so they replied right away).

We haven't had our bank statements requested yet! I'm assuming this pay happen after they review the proof of gifted deposit? Only time will tell - although nerve racking!

Received confirmation that our application has been approved subject to valuation - It's a new build property on a housing development which is already in it's 2nd phase of houses, so hoping there's no problems now

Housing development just confirmed that the valuation took place today! Any idea how long it'll be until we'll get an update? We're going through the mortgage application with Natwest.

Update: Natwest Tracker now says: "Your client's valuation report has been received. We will contact you once this has been fully assessed."

Valuation was only done this morning!

Mortgage offer received via email, told will also be put in the post! Total time was just under 3 weeks. Although nearly a week of that was us waiting for our application to be keyed onto the system (brooker told us this is normal, however I believe the brooker may have lied about the date they really submitted the application!), so I assume if you do not use a brooker it could be under 2 weeks.

Good luck and best wishes to all those waiting

KAP0365

FTBin2020 said:

FTBin2020 said:

FTBin2020 said:

My partner and I are both FTB applying for a Mortgage with Natwest VIA a brooker, we're using the help to buy equity loan so only required a 75% LTV. Currently playing the waiting game! Here's our time line so far:

31/07 - DIP done by brooker accepted
05/08 - Full application submitted
12/08 - Payslips requested and sent
14/08 - Valuation requested and booked for 24/08
17/08 - Payslips marked as success on tracker. Proof of gifted deposit and confirmed of our loan payments requested (These were all sent to brooker at the start so they replied right away).

We haven't had our bank statements requested yet! I'm assuming this pay happen after they review the proof of gifted deposit? Only time will tell - although nerve racking!

Received confirmation that our application has been approved subject to valuation - It's a new build property on a housing development which is already in it's 2nd phase of houses, so hoping there's no problems now

Housing development just confirmed that the valuation took place today! Any idea how long it'll be until we'll get an update? We're going through the mortgage application with Natwest.

Ours was done on a Friday morning and returned by the Friday night and we got the offer 11.30am the following Monday, NatWest are usually pretty quick. We not FTB and a straightforward application but if you’re approved subject to valuation and you got the email confirming this then it should be quick 

Squiggly_Diddly

FTBin2020 said:

FTBin2020 said:

FTBin2020 said:

FTBin2020 said:

My partner and I are both FTB applying for a Mortgage with Natwest VIA a brooker, we're using the help to buy equity loan so only required a 75% LTV. Currently playing the waiting game! Here's our time line so far:

31/07 - DIP done by brooker accepted
05/08 - Full application submitted
12/08 - Payslips requested and sent
14/08 - Valuation requested and booked for 24/08
17/08 - Payslips marked as success on tracker. Proof of gifted deposit and confirmed of our loan payments requested (These were all sent to brooker at the start so they replied right away).

We haven't had our bank statements requested yet! I'm assuming this pay happen after they review the proof of gifted deposit? Only time will tell - although nerve racking!

Received confirmation that our application has been approved subject to valuation - It's a new build property on a housing development which is already in it's 2nd phase of houses, so hoping there's no problems now

Housing development just confirmed that the valuation took place today! Any idea how long it'll be until we'll get an update? We're going through the mortgage application with Natwest.

Update: Natwest Tracker now says: "Your client's valuation report has been received. We will contact you once this has been fully assessed."

Valuation was only done this morning!

My valuation was booked on 21/08 to be done 24/08 too & I have the same update. I did the application with a broker on 07/08 then it all went quiet so I phoned NatWest at the start of last week to get the ref number for tracking and they were really helpful. This was before valuation was booked but he estimated it would be done & report available just before the bank hol. Application wasn’t actually received by them until 11/08. An investor is buying mine & no chain above so I’m hoping late Sept for completion might be do-able!!

söpöpöllö

We paid for the searches today as well, since we don't want to delay anything else. Had to send more documents to the lender on Saturday again and was told the broker was hoping to hear something today or tomorrow, but who knows! I might go bald soon.

otmotm

Hi all, thought I'd just post here to share our timeline as I fully appreciate how any information helps during this stressful process.
Background: Partner is self-employed and he took a SE grant in April, I am in full-time employment. Mortgage application from Santander via a broker. We are not FTB (this is our second purchase).
Did not get an AIP

23/07: Received an offer for our property and we countered the offer
24/07: Buyer accepted counter-offer
27/07: Received sales memo, instructed solicitor
29/07: Started viewing properties and put in an offer on the same day
01/08: Vendor accepted the offer
05/08: Engage mortgage broker
06/08: Submitted full application to Santander via broker
11/08: Santander requested for clarification regarding ID via broker. Provided the clarification right away.
13/08: Bank instructed valuation (but not sure for when or whether it was desktop or physical)
20/08: Advised of the valuation outcome
25/08 (today): Received a text and an email of Mortgage Offer!!!

Now is time for us to focus on the other parties - find out the status of the buyer and vendor's mortgage. Am jsut so glad that our one finally got approval. Takes some stress off us.
Hope the info above helps, especially those who are making their application from Santander.

SammyD84

As my application with halifax is part interest only I've been told its been passed to the interest only team after requests for extra information. Has anyone had any experience with this?

ger1986

14/08: Verbal offer accepted
14/08: Solicitor instructed
15/08: Instruct mortgage broker
20/08: All documents submitted to the broker
25/08: Submitted full application to Virgin via broker

All being well our date of entry will be 30th September.