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

JayPeeEss

Anyone else waiting for an offer from NatWest. Taking forever, and stress levels rising by the day.

Am employed part time since 1st Feb (my main source of income now), in addition am sole director of Limited Company which provides additional income and was my sole source of income for 4 years prior to that.

22nd July - Had an offer accepted on a house 
24th July - Applied for mortgage via broker  - application made to NatWest. Credit search showing on same day.
27th July -  4 months payslips, 3 years SA302s, 4 months personal bank statements requested - sent to broker
11th August - items above showing as being reviewed on NatWest online tracker
12th August -  3 months business bank statements, and my contract of employment requested - sent to broker within an hour.
13th August, online tracker shows valuation has been instructed
14th shows "valuation report has been received and will contact you once this has been fully assessed"

Since when I heard nothing until the tracker updated over the weekend showing confirmation of receipt of bank statements and employer reference (tracker has these showing as received today - 3 weeks after I sent them)

Chased broker couple of times in the interim - apparently NatWest aren't taking phone calls so any contact with them has to be done by email.

Phone call today from vendor estate agent just before 5 saying the vendor is threatening to put the house back on the market unless there is movement "soon" - broker was going to ring agent and also NatWest to try and get an update. Heard nothing back yet.

Still no offer or otherwise - 45 days and counting, how much longer....

FTB_1991

Just putting my timeline in case it helps anyone 😊 
20/06 - AIP from HSBC for 90%
14/07 - offer made and accepted 
15/07 - broker tries to submit 90% LTV to HSBC through the online system 
28/07 - go direct with HSBC after broker has no luck. AIP passed on the phone.
14/08 - Phone call with HSBC adviser. Hard check on file. Application is approved subject to valuation.
26/08 - Valuation performed 
27/08 - informed that valuation was £15k under asking price 
28/08 - self-fund £10k partially from gift and agree with seller to reduce house by £5k. Submit amendment to mortgage with HSBC adviser 
4/09 - mortgage offer received

its been a long and incredibly stressful experience. I hope it goes ok from here as my nerves cannot take anymore...  

ftbhoping

Drawingaline said:

Just had an email from broker. Mortgage approved 😁😁😁

What’s relief that must be, great news for you after such a long wait. 👏🏼👏🏼

Drawingaline

ftbhoping said:

Drawingaline said:

Just had an email from broker. Mortgage approved 😁😁😁

What’s relief that must be, great news for you after such a long wait. 👏🏼👏🏼

Yes, but still need to sort out the communication issue between our solicitor and vendors solicitor. Our sale is progressing well though.

Bex_27

Joining this thread! We applied last week with Accord. My DIP was referred but before I had a chance to sit down and answer the questions they approved. I sent over the answers and added a supporting statement and it was satisfied. We were pushed through to valuation stage and that was booked in yesterday for this Thursday. We are astounded with how quickly they are going through this. What are the next steps? I’m a FTB so completely new to the game.

carmijoon

carmijoon said:

20/07 Offer been accepted
21/07 Solicitor been instructed
28/07 Full mortgage application submitted to NatWest via broker
13/08 Under writer requested latest 3 months bank statement - Submitted the same day
18/08 Case been accepted subject to the valuation.
21/08 Valuation surveyor (Legal and General surveyors) have been instructed by NatWest.
Now Waiting for a valuation date ....

Update:
20/07 Offer been accepted
21/07 Solicitor been instructed
28/07 Full mortgage application submitted to NatWest via broker
13/08 Under writer requested latest 3 months bank statement - Submitted the same day
18/08 Case been accepted subject to the valuation.
21/08 Valuation surveyor (Legal and General surveyors) have been instructed by NatWest.
26/08 Valuation took place.
27/08 Valuation received (full price) by NatWest.
27/08 final offer received. 
Completion set for Thursday 10/09.

Bex_27

carmijoon said:

carmijoon said:

20/07 Offer been accepted
21/07 Solicitor been instructed
28/07 Full mortgage application submitted to NatWest via broker
13/08 Under writer requested latest 3 months bank statement - Submitted the same day
18/08 Case been accepted subject to the valuation.
21/08 Valuation surveyor (Legal and General surveyors) have been instructed by NatWest.
Now Waiting for a valuation date ....

Update:
20/07 Offer been accepted
21/07 Solicitor been instructed
28/07 Full mortgage application submitted to NatWest via broker
13/08 Under writer requested latest 3 months bank statement - Submitted the same day
18/08 Case been accepted subject to the valuation.
21/08 Valuation surveyor (Legal and General surveyors) have been instructed by NatWest.
26/08 Valuation took place.
27/08 Valuation received (full price) by NatWest.
27/08 final offer received. 
Completion set for Thursday 10/09.

Congratulations!!

sully1311

I've just had this from my broker regarding my application with HSBC:
Application approved - We are pleased to confirm that this application has been approved. A mortgage offer document will be issued upon completion of our final checks
Anybody know what steps still need to be carried out before the formal offer is issued?

söpöpöllö

No updates on the mortgage front, surprisingly... We had our searches back, though, and those didn't find anything alarming, so at least some good news! This wait feels a year long.

katiescotland88

söpöpöllö said:

No updates on the mortgage front, surprisingly... We had our searches back, though, and those didn't find anything alarming, so at least some good news! This wait feels a year long.

Thats great the searches have been done. Fingers crossed you hear this week.