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

Lipstick99

Attempt no 3
Offer accepted 23 July
One lender undervalued by £10k
New lender wont grant full loan.. Nat West. 
New DIP with Halifax today. 25 Aug. 
Instructed broker to proceed with full application. 

DaveWilson25

Hi,
Sorry for jumping on the bandwagon here but i'm having the same issues re Natwest and my broker. I had a potential issue re my credit report as I have everything registered at my parents address so in order to obtain my credit score (which is rated as excellent) I need to use this address. All explained to my broker who said it should be fine but when the DIP was submitted it said it would need to be referred. Again told not to worry and that he would explain the situation. Now i'm over three weeks from the application and all information going in and i've just been informed that the valuation has been rescheduled for a date almost two weeks later. 
Two questions: 
1) i know they book in the valuation as the application goes in (due to it being with Natwest) but can i assume they have at least checked the information i have provided and so the address shouldn't pose an issue? Everything else looks fine in terms of affordability, LTV and don't have any outstanding lines of credit. 
2) Should I be concerned about the valuation rescheduling? I guess in line with the above? Or is it just a case of them being busy (which was explained to me at the start of the process) or access issues with the seller?  
Would appreciate any advice!
Cheers,
Dave

Process90

tk02 said:

KnobbynrTam said:

Hi Folks
Just had a call from MA, HSBC have valued my potential house at £2k less :-(.... its all got to go back to the underwriters now.... i was a 80% LTV, on a purchase price of £277k, they valued at £275k...... are HSBC likely to let it go for just £2k, or do i just find £2k myself .
Thanks

We had the same although our valuation came back £9 lower. We’ve had to ask the seller to reduce which they have done. This was Thursday and now we are still waiting to hear back. Everything seems to take ages 

£9k... £2k...

Try £35k like ours was! Converted offices.

Anything like £2k I'd stump up the extra cash. Anything like £10k or over I'd look for a different property if the vendor isn't budging.

mrandmrsloz

Thought I would join in. Here's our journey so far:
Lender - Halifax (direct)
LTV: 70%
Assuming its a straightforward case as both myself and hubby are Full Time Employees with no impact due to covid-19 (both work for Government)
20 August - offer accepted 
21 August - DIP and full application submitted, together with recent payslip uploaded. Hard search and multiple soft searches showing on Credit Karma (no others showing on other reports yet)
22 August - advised valuation booked for 26 August
24 August - called for an update of the process. Was advised at this point that all looked ok and was rated Grade A (whatever that means)
26 August - called Halifax who advised that it looked like the valuation was booked for 25 August (?). Couldn't see if valuation was received yet but advised everything had been passed to mortgage advisor and he may also have the valuation report. So emailed for an update.....
Now sitting here constantly checking emails and biting my nails......
Anyone had similar process?

zeusofwar

mrandmrsloz said:

Thought I would join in. Here's our journey so far:
Lender - Halifax (direct)
LTV: 70%
Assuming its a straightforward case as both myself and hubby are Full Time Employees with no impact due to covid-19 (both work for Government)
20 August - offer accepted 
21 August - DIP and full application submitted, together with recent payslip uploaded. Hard search and multiple soft searches showing on Credit Karma (no others showing on other reports yet)
22 August - advised valuation booked for 26 August
24 August - called for an update of the process. Was advised at this point that all looked ok and was rated Grade A (whatever that means)
26 August - called Halifax who advised that it looked like the valuation was booked for 25 August (?). Couldn't see if valuation was received yet but advised everything had been passed to mortgage advisor and he may also have the valuation report. So emailed for an update.....
Now sitting here constantly checking emails and biting my nails......
Anyone had similar process?

We're a day ahead of you... had our valuation on the 24th of August, emailed surveyor yesterday to confirm they did indeed turn up to the property, to which they replied yes. So sitting here checking phone and email too!

mrandmrsloz

zeusofwar said:

mrandmrsloz said:

Thought I would join in. Here's our journey so far:
Lender - Halifax (direct)
LTV: 70%
Assuming its a straightforward case as both myself and hubby are Full Time Employees with no impact due to covid-19 (both work for Government)
20 August - offer accepted 
21 August - DIP and full application submitted, together with recent payslip uploaded. Hard search and multiple soft searches showing on Credit Karma (no others showing on other reports yet)
22 August - advised valuation booked for 26 August
24 August - called for an update of the process. Was advised at this point that all looked ok and was rated Grade A (whatever that means)
26 August - called Halifax who advised that it looked like the valuation was booked for 25 August (?). Couldn't see if valuation was received yet but advised everything had been passed to mortgage advisor and he may also have the valuation report. So emailed for an update.....
Now sitting here constantly checking emails and biting my nails......
Anyone had similar process?

We're a day ahead of you... had our valuation on the 24th of August, emailed surveyor yesterday to confirm they did indeed turn up to the property, to which they replied yes. So sitting here checking phone and email too!

Exciting and nerve wracking times! Fingers crossed for you and me both (and everyone else waiting for a decision)!!

kaushikThakrar

I am with Coventry Building society. They just rejected porting our mortgage to a new place and now we a a prisoner to the Building society. We have 4 times more income than the mortgage amount we are paying and this income is for life. Why are they doing this, does anybody have any ideas? Does anybody release this is a serious health issue for everyone!

SammyD84

mrandmrsloz said:

Thought I would join in. Here's our journey so far:
Lender - Halifax (direct)
LTV: 70%
Assuming its a straightforward case as both myself and hubby are Full Time Employees with no impact due to covid-19 (both work for Government)
20 August - offer accepted 
21 August - DIP and full application submitted, together with recent payslip uploaded. Hard search and multiple soft searches showing on Credit Karma (no others showing on other reports yet)
22 August - advised valuation booked for 26 August
24 August - called for an update of the process. Was advised at this point that all looked ok and was rated Grade A (whatever that means)
26 August - called Halifax who advised that it looked like the valuation was booked for 25 August (?). Couldn't see if valuation was received yet but advised everything had been passed to mortgage advisor and he may also have the valuation report. So emailed for an update.....
Now sitting here constantly checking emails and biting my nails......
Anyone had similar process?

Can I ask did Halifax do a visit for valuatipn that quickly? Part of my mortgage relies on another property vaulation, they have done desktop but got it completely wrong 250k out!! I was thinking of asking them to visit but worried about the wait

mrandmrsloz

SammyD84 said:

mrandmrsloz said:

Thought I would join in. Here's our journey so far:
Lender - Halifax (direct)
LTV: 70%
Assuming its a straightforward case as both myself and hubby are Full Time Employees with no impact due to covid-19 (both work for Government)
20 August - offer accepted 
21 August - DIP and full application submitted, together with recent payslip uploaded. Hard search and multiple soft searches showing on Credit Karma (no others showing on other reports yet)
22 August - advised valuation booked for 26 August
24 August - called for an update of the process. Was advised at this point that all looked ok and was rated Grade A (whatever that means)
26 August - called Halifax who advised that it looked like the valuation was booked for 25 August (?). Couldn't see if valuation was received yet but advised everything had been passed to mortgage advisor and he may also have the valuation report. So emailed for an update.....
Now sitting here constantly checking emails and biting my nails......
Anyone had similar process?

Can I ask did Halifax do a visit for valuatipn that quickly? Part of my mortgage relies on another property vaulation, they have done desktop but got it completely wrong 250k out!! I was thinking of asking them to visit but worried about the wait

Thats where I am worrying, I dont believe they did as vendor said no one had arranged appointment for it. I hope they factor in that it is a corner plot with  summer house and had an extension extension rather than value as per other properties in the area.....

zeusofwar

I upgraded the mortgage valuation to a homebuyers report which forced them to visit the property, otherwise it would have been a desktop valuation for me..