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

cooky123

King_hins said:

Hi all, just wondering if anybodys waiting as long as I am?
Shared Ownership with Leeds bs
AIP 15th July
Full app 24.07
Questions asked around start of August.
Valuation satisfactory 22/08
Just wondering what the hell is going on, Appreciate it's because of a back log..  but brokers saying at least not hearing till 7.09 for an update.. sellers now getting annoyed.
Getting to 7 weeks now.

I am waiting since application on 7th valuation on 21st August and heard nothing since valuation who is your mortgage app with? 

RauHughes

RauHughes said:

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...

Finally got our offer today! Over the moon!! Time to start chasing the solicitors to get a wriggle on now.

xMeganCL

Emailed my advisor this morning and she says that although she hasn't heard anything, one of her other clients got their offer today with the same lender and their application was 4 days before mine. I'm taking this as mildly positive 😂

Carl2510

katiescotland88 said:

Carl2510 said:

tweeto said:

Carl2510 said:

katiescotland88 said:

Carl2510 said:

Carl2510 said:

Carl2510 said:

AIP accepted with Halifax - 17/08
Reserve on new build - 22/08
Full App submitted - 26/08
Hard searches done - 26/08

since then heard nothing from MA, so very nervous as we are borrowing very close to maximum borrowing amount!

and also selling my current property still waiting on enquiries from buyer for over 4 weeks now.

don't remember being this stressed when I did my first house.

Valuation now booked in for 10/09

Abit nervous at the moment with all the delays going on, as I will need to exchange by 19th so worried if I don’t have my mortgage offer back by then and if I get rejected I could lose my deposit!

Its so nerve wracking isn't it. We have a move in date for the 18th and feeling the same. What deposit will you loose?

I have to put down 10% at exchange so I have to give 23K and if I was then to not get a mortgage I lose that, I’ve worked along time to get that money to be then possible to lose it like that! 

I don't get how you would lose it? You can't exchange without a mortgage offer.

Hi Tweeto,

I’ve just received some documents from my Solicitor to sign and there is two boxes I can tick one says “We would like to proceed with exchange of Contracts with no mortgage finance In place.”

”We would NOT like to proceed with exchange of contracts without a mortgage finance in place”

I have asked the question what happens if we choose the second option as in what would happen would the developer put the house back on the market.

Gosh that is terrible!! How can they do that Will! Will you check the first box then with so much at stake? 

I don’t want to, because you just don’t know these days with banks and Covid 19 rejecting people left right and centre.

CharFTB

xMeganCL said:

Emailed my advisor this morning and she says that although she hasn't heard anything, one of her other clients got their offer today with the same lender and their application was 4 days before mine. I'm taking this as mildly positive 😂

We can test it and see if mine comes in two days then! (Same lender, 2 days ahead of you) 🤞🤞🤞🤞

Drawingaline

King_hins said:

Hi all, just wondering if anybodys waiting as long as I am?
Shared Ownership with Leeds bs
AIP 15th July
Full app 24.07
Questions asked around start of August.
Valuation satisfactory 22/08
Just wondering what the hell is going on, Appreciate it's because of a back log..  but brokers saying at least not hearing till 7.09 for an update.. sellers now getting annoyed.
Getting to 7 weeks now.

Full application 28/7, valuation on 12/8, have answered queries on four occasions, always sending anything through within 24hrs, but it seems to put us back a week each time. Last lot sent yesterday, if we haven't had a decision in a week I think we might just give up!

söpöpöllö

katiescotland88 said:

söpöpöllö said:

I'm so bored of waiting that I'm entertaining myself by getting removals quotes.   

Good to keep yourself occupied. I was so annoyed yesterday so this morning I went for a walk with sprogs to a big wood for some distraction!

Very true, I've started a new exercise program so I can rage exercise when the stress is too much. 😏 I'm certainly not a patient person anyway, so this wait is driving me batty.

katiescotland88

söpöpöllö said:

katiescotland88 said:

söpöpöllö said:

I'm so bored of waiting that I'm entertaining myself by getting removals quotes.   

Good to keep yourself occupied. I was so annoyed yesterday so this morning I went for a walk with sprogs to a big wood for some distraction!

Very true, I've started a new exercise program so I can rage exercise when the stress is too much. 😏 I'm certainly not a patient person anyway, so this wait is driving me batty.

LOL. Go girl! Im the same...can't stand the wait..the uncertainty..not being able to plan!!! We were told we would have 3 weeks to wait for a decision and its 3 weeks Friday. I'm so annoyed they are now extending the original plan!! 

katiescotland88

Drawingaline said:

King_hins said:

Hi all, just wondering if anybodys waiting as long as I am?
Shared Ownership with Leeds bs
AIP 15th July
Full app 24.07
Questions asked around start of August.
Valuation satisfactory 22/08
Just wondering what the hell is going on, Appreciate it's because of a back log..  but brokers saying at least not hearing till 7.09 for an update.. sellers now getting annoyed.
Getting to 7 weeks now.

Full application 28/7, valuation on 12/8, have answered queries on four occasions, always sending anything through within 24hrs, but it seems to put us back a week each time. Last lot sent yesterday, if we haven't had a decision in a week I think we might just give up!

Thats crazy. Do they just put you to the back of the que again then? Hope you hear soon.

katiescotland88

Carl2510 said:

katiescotland88 said:

Carl2510 said:

tweeto said:

Carl2510 said:

katiescotland88 said:

Carl2510 said:

Carl2510 said:

Carl2510 said:

AIP accepted with Halifax - 17/08
Reserve on new build - 22/08
Full App submitted - 26/08
Hard searches done - 26/08

since then heard nothing from MA, so very nervous as we are borrowing very close to maximum borrowing amount!

and also selling my current property still waiting on enquiries from buyer for over 4 weeks now.

don't remember being this stressed when I did my first house.

Valuation now booked in for 10/09

Abit nervous at the moment with all the delays going on, as I will need to exchange by 19th so worried if I don’t have my mortgage offer back by then and if I get rejected I could lose my deposit!

Its so nerve wracking isn't it. We have a move in date for the 18th and feeling the same. What deposit will you loose?

I have to put down 10% at exchange so I have to give 23K and if I was then to not get a mortgage I lose that, I’ve worked along time to get that money to be then possible to lose it like that! 

I don't get how you would lose it? You can't exchange without a mortgage offer.

Hi Tweeto,

I’ve just received some documents from my Solicitor to sign and there is two boxes I can tick one says “We would like to proceed with exchange of Contracts with no mortgage finance In place.”

”We would NOT like to proceed with exchange of contracts without a mortgage finance in place”

I have asked the question what happens if we choose the second option as in what would happen would the developer put the house back on the market.

Gosh that is terrible!! How can they do that Will! Will you check the first box then with so much at stake? 

I don’t want to, because you just don’t know these days with banks and Covid 19 rejecting people left right and centre.

Yeah know what you mean. I dont think I would take the risk. If you get a mortgage there might be another house you would like 😀