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

ftbhoping

@Gypsy17 congratulations, that’s brill news. Was your case straight forward? 

Drawingaline

kadi026 said:

Drawingaline said:

kadi026 said:

Good morning
my broker applied via Santander. Below is my timeline. 

 

Application submitted

31/07/2020 12:21

Valuation instructed

31/07/2020 16:42

Valuation Received

31/07/2020 16:46

Passed to Underwriting

03/08/2020

14/08/2020 Additional information requested regarding projections for 2021 (SE) query regarding my profits for pass 2 years, this needed to be done by accountants. The effect of Covid on my business and proof of deposit. I bank with Santander so not sure why they needed this, as business, savings and personal accounts are with them. 

27/08/2020 all the requested information submitted. Still waiting for an outcome. My accountants were slow in acting hence the delay of financial documents. 

Broker called yesterday 03/09 and said they are working on 25/09 despite their tracker claiming otherwise. 

The wait is killing me. 

I must admit going via their tracker, each time I have submitted documents, I have been asked for more bang in when they say they are reviewed documents sent on the date I sent them.

It's the fact that each time it's at least a week before we hear anything else! Hopefully we will float back to the top of the pile on Mon/Tues next week. At least I didn't have to wait for an accountant. I earn so little I do my SA myself! And when they required a letter from my paye employment I could just ring the director to get a letter within 24hrs as it is a small family business.

Add in communication issues between our solicitor and the sellers solicitors I am not convinced we will be able to buy the property. Meanwhile our own sale is progressing well to a BTL, who we don't want to lose, but unlike a FTB, not sure how long they will hang around if we lose the purchase. ESP as its end of chain. Don't want to have to start again and have to build a chain.

Remembering why we have been in this house 11years. In fact it's exactly 11years today since we completed!

I’m sorry your process has been such an arduous one. I received a text from Santander today confirming my offer as well as an email. I’m truly shocked, I was thinking it would be another week of hell. 

I hope that you have a decision early next week. I also hope your property issues are sorted soon. 

Fingers crossed for you x

Congratulations!!! I am hoping to hear next week. I am confident we won't be refused, surely they would have done that right off, but am worried we won't get the amount we require.

xMeganCL

Had the seller on the phone asking about updates just there. Couldn't give him any!

Gypsy17

ftbhoping said:

@Gypsy17 congratulations, that’s brill news. Was your case straight forward? 

One of us is self employed and had the seiss grant. 85% ltv. No credit issues. They did desk top valuation.
Good luck to you and fingers crossed 😊

ftbhoping

Gypsy17 said:

ftbhoping said:

@Gypsy17 congratulations, that’s brill news. Was your case straight forward? 

One of us is self employed and had the seiss grant. 85% ltv. No credit issues. They did desk top valuation.
Good luck to you and fingers crossed 😊

Ahh that’s good to know. We’re both LTD business so no SEISS grant but obviously they delve into business still. We’re 75LTV on a Help to Buy. Both excellent credit reports and zero debt. Just positive thinking - it’s the only thing I can do!!

Sam_batra

hi anyone with barclays? Valuation done gone Friday confirmed by the development advisor. What next? 

Drawingaline

Gypsy17 said:

I really hope you hear soon. Our application was submitted to Santander late evening on 22/8 and just had offer through, so you hopefully will hear in few days

How???? We are looking at 75LTV, borrowing 20k less than AIP, SE with the first seiss grant and it's taken six weeks with no firm answer 🤔🤷 I feel I cant actually apply for the second grant, although though I would qualify (business is back to pre covid levels since August, but not in July) incase that impacts! 

ftbhoping

@Drawingaline crackers isn’t it how there seems to be no rhyme or reason to anything. 

khtaylor

Watch with the grant. Nationwide turned us down because of grant and because i used my overdraftvduring lockdown. Absolutely shocking and it took them 5 weeks to decide that after our aip was referred so they already knew 

ftbhoping

khtaylor said:

Watch with the grant. Nationwide turned us down because of grant and because i used my overdraftvduring lockdown. Absolutely shocking and it took them 5 weeks to decide that after our aip was referred so they already knew 

That’s really annoying. I’m assuming it was an arranged overdraft? There’s no difference to using that than having a credit card 🤷🏼‍♀️