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

cat3333

katiescotland88 said:

cat3333 said:

Received the “text” from HSBC today saying we have a mortgage offer.
Our timeline 
applied direct online no advise route on 20/8 ltv 77% 
valuation 21/8
valuation obtained 21/8 ( property valued at more than we are paying)
online status changed over the next few days:
ready for offer
decison obtained
then on 24/8 manually referred 
heard nothing until today 5/9 text saying mortgage approved and booking fee (1000) now needs to be paid to view offer!.

whilst it seems we should be happy/excited we are finding it hard as we’ve found out it seems our buyer is struggling to secure a mortgage (when does the stress ever stop 😔). My question is if we pay the fee and the offer turns out less than we need or our buyer now pulls out if he can’t get a mortgage, do we lose the whole of the thousand pounds application fee?? Any advise or knowledge on this with HSBC would be gratefully received .

Congratulations 👍 not sure about the application fee. Might be worth contacting HSBC mortgage advisor. You could also check how long your mortgage offer lasts. Maybe you could get a new buyer??

Thanks . We have the full offer amount with hsbc and the offer and rate is valid for six months.
we now need our estate agents to be “honest” with what is happening and problem with our buyer. 
How are you getting on? 

katiescotland88

cat3333 said:

katiescotland88 said:

cat3333 said:

Received the “text” from HSBC today saying we have a mortgage offer.
Our timeline 
applied direct online no advise route on 20/8 ltv 77% 
valuation 21/8
valuation obtained 21/8 ( property valued at more than we are paying)
online status changed over the next few days:
ready for offer
decison obtained
then on 24/8 manually referred 
heard nothing until today 5/9 text saying mortgage approved and booking fee (1000) now needs to be paid to view offer!.

whilst it seems we should be happy/excited we are finding it hard as we’ve found out it seems our buyer is struggling to secure a mortgage (when does the stress ever stop 😔). My question is if we pay the fee and the offer turns out less than we need or our buyer now pulls out if he can’t get a mortgage, do we lose the whole of the thousand pounds application fee?? Any advise or knowledge on this with HSBC would be gratefully received .

Congratulations 👍 not sure about the application fee. Might be worth contacting HSBC mortgage advisor. You could also check how long your mortgage offer lasts. Maybe you could get a new buyer??

Thanks . We have the full offer amount with hsbc and the offer and rate is valid for six months.
we now need our estate agents to be “honest” with what is happening and problem with our buyer. 
How are you getting on? 

Gosh it is so stressful isn't it!! Hope you get some info about your buyer soon. We are no further forward yet 😭 still waiting on HSBC and their decision.

leodis23

Finally received my offer from Nationwide  - 90% LTV, FTB with a LISA, borrowing just over 3x salary, sole applicant, no changes to employment during COVID

Here's my final timescale:

26 July Application Received (via Habito)

26 July Soft Credit Search (Credit Karma)

4 August (Working Day 7) Hard Search (Credit Karma, eventually Clearscore too)

14 August (WD 15)  Underwriter questions

17 August (WD 16) Valuation booked

19 August (WD 18) Physical valuation & report received

4 September (WD 30)  Application escalated to Senior team

7 September (WD 31) Mortgage offer

BARLEYFIELDS

Applied to Santander at beginning of August
4th August confirmed I had passed underwriting subject to final administrative checks
Next day got request for more information regarding self employment.
18th August - application declined due to credit report - I have liabilities I had paid off in June but not updated on Experian yet plus a loan also paid off showing at the wrong amount.  They said I passed affordability but not debt to income ratio. Corrected the credit score.  Now back with Santander for re-scoring.  They have done 4 hard credit checks so far.  At least one must be in error. My report has gone down from excellent to good as a result.
Complained to Santander and told that the 4th August message is a glitch on their system!!
Now put in an application to Natwest via a broker as they are more flexible re debt repayments not showing on credit report.  Still waiting to hear as self employed.  
My house sale has completed so I'm really hoping one of the two goes through ok as I'm currently in temporary accommodation!
Does anyone know whether Natwest organise a valuation after offer or when the application is made to them?

Drawingaline

BARLEYFIELDS said:

Applied to Santander at beginning of August
4th August confirmed I had passed underwriting subject to final administrative checks
Next day got request for more information regarding self employment.
18th August - application declined due to credit report - I have liabilities I had paid off in June but not updated on Experian yet plus a loan also paid off showing at the wrong amount.  They said I passed affordability but not debt to income ratio. Corrected the credit score.  Now back with Santander for re-scoring.  They have done 4 hard credit checks so far.  At least one must be in error. My report has gone down from excellent to good as a result.
Complained to Santander and told that the 4th August message is a glitch on their system!!
Now put in an application to Natwest via a broker as they are more flexible re debt repayments not showing on credit report.  Still waiting to hear as self employed.  
My house sale has completed so I'm really hoping one of the two goes through ok as I'm currently in temporary accommodation!
Does anyone know whether Natwest organise a valuation after offer or when the application is made to them?

This is my concern. We cleared all our debt two weeks before we applied. I have sent in the loan closure letter because they were querying the payments from the account to the loan. I have the two credit card bills showing zero, but my credit report, although updating phone contracts and the mortgage haven't updated the short-term debt! No hard searches (unless they are using Experian as can't check that one atm) will be seven weeks tomorrow since application. Santander too. Broker chased today and apparently we should have an update tomorrow or Wednesday. 

Just been endless queries about my 10k per annum SE. Not one about husbands 50k job. So so frustrating.

cat3333

katiescotland88 said:

cat3333 said:

katiescotland88 said:

cat3333 said:

Received the “text” from HSBC today saying we have a mortgage offer.
Our timeline 
applied direct online no advise route on 20/8 ltv 77% 
valuation 21/8
valuation obtained 21/8 ( property valued at more than we are paying)
online status changed over the next few days:
ready for offer
decison obtained
then on 24/8 manually referred 
heard nothing until today 5/9 text saying mortgage approved and booking fee (1000) now needs to be paid to view offer!.

whilst it seems we should be happy/excited we are finding it hard as we’ve found out it seems our buyer is struggling to secure a mortgage (when does the stress ever stop 😔). My question is if we pay the fee and the offer turns out less than we need or our buyer now pulls out if he can’t get a mortgage, do we lose the whole of the thousand pounds application fee?? Any advise or knowledge on this with HSBC would be gratefully received .

Congratulations 👍 not sure about the application fee. Might be worth contacting HSBC mortgage advisor. You could also check how long your mortgage offer lasts. Maybe you could get a new buyer??

Thanks . We have the full offer amount with hsbc and the offer and rate is valid for six months.
we now need our estate agents to be “honest” with what is happening and problem with our buyer. 
How are you getting on? 

Gosh it is so stressful isn't it!! Hope you get some info about your buyer soon. We are no further forward yet 😭 still waiting on HSBC and their decision.

It is a ongoing stress for one thing to another. I’m so pleased for us but we need our buyer to be in a position to move forward, just ringing estate agent and for a no nonsense discussion now🤬. Is anyone on your application self employed? As HSBC said these can go on 6/7 weeks atm. I’m keeping my fingers crossed for you. Let me know how it goes. 

MaryNB

MaryNB said:

MaryNB said:

31/07 Offer accepted on house 
10/08 Got an updated AIP & booked a mortgage appointment
12/08 Halifax mortgage appointment & application submitted. Payslips submitted, ID checked at branch. Soft & hard credit searches.
13/08 Valuation instructed
18/08 Product fee paid. No further info from me required. Halifax confirmed the only thing outstanding is the valuation.
20/08 Rang for an update. Surveyors still hadn't made contact with the EA about scheduling the valuation. 
24/08 Valuation finally booked in for this Friday. Hopefully by early next week, I'll have my offer.
28/08 Lender's valuation (with Homebuyers survey) carried out
01/09 Homebuyers Report received. Valuation same as asking - was so convinced it was going to be lower. Delighted with that.

07/09 Offer FINALLY received. It was issued on the 28th of August. That was one hell of a long week!

xMeganCL

Working day 19 waiting for nationwide

Tonyw193

xMeganCL said:

Working day 19 waiting for nationwide

Just checked the timescales today and its gone from 20 days to 22 for an offer... Hopefully you should hear this week. I just noticed theyve made 2 hard credit searchs so making some progress and the valuation is tomorrow. 

CharFTB

xMeganCL said:

Working day 19 waiting for nationwide

Working day 21 or 20 with the bank holiday and nothing here either