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

söpöpöllö

otmotm said:

söpöpöllö said:

otmotm said:

katiescotland88 said:

söpöpöllö said:

katiescotland88 said:

söpöpöllö said:

katiescotland88 said:

we just got an email from HSBC that they have approved our mortgage, subject to a satisfactory valuation, which is taking place this Friday. I am in total shock- I was convinced we would be rejected or be subject to a million more questions and scrutiny. 

 Amazing! Congratulations. Although now I'm bitter that we've heard nothing 😂

Thank you so much and LOL. That is exactly how I was feeling everytime I read anyone else's happy update. I was like 20% happy and 80% bitter. I'm sure you will be next. Keeping everything crossed for you. When did you apply again? 

On 10/8. I'm planning on giving it til Friday and then I'm going to want some actual updates from the broker, not just "everything is fine". Might call HSBC directly otherwise 🙈 hope your valuation is a success.

You applied before me so yes definitely ring HSBC yourself. I did and asked where I was in the que and then contacted again to ask about valuation and again to ask if I had been allocated to an underwriter yet.  Think they were sick of me in the end. 

Hi there, do you know whether the valuation is the final stage of the process with HSBC or we will still need to wait for another month following that? I am a bit confused whether HSBC does the underwriting before or after the valuation. Am trying to be patient. Our valuation has been pushed out and it means more waiting...

I this this varies. We had our valuation done very early and others have had it as the last thing.

Thanks for your response. Would we know whether this is the first or the last thing? But it looks like the earliest to even hope for an offer is about 4-5 weeks after the submission of the full application. In this case, we may have quite a while to wait. This is driving me crazy!

I would imagine that if you're well into the process, it's probably one of the last things. The queues are very long, and it also depends on the buyers' situation. I'm self-employed with a complex income situation, so my application is going to take longer than an employed person's one, for example. Our valuation was literally done within days of our application, but this is now the 21st working day we've been waiting for an answer.

Gem_M90

söpöpöllö said:

otmotm said:

söpöpöllö said:

otmotm said:

katiescotland88 said:

söpöpöllö said:

katiescotland88 said:

söpöpöllö said:

katiescotland88 said:

we just got an email from HSBC that they have approved our mortgage, subject to a satisfactory valuation, which is taking place this Friday. I am in total shock- I was convinced we would be rejected or be subject to a million more questions and scrutiny. 

 Amazing! Congratulations. Although now I'm bitter that we've heard nothing 😂

Thank you so much and LOL. That is exactly how I was feeling everytime I read anyone else's happy update. I was like 20% happy and 80% bitter. I'm sure you will be next. Keeping everything crossed for you. When did you apply again? 

On 10/8. I'm planning on giving it til Friday and then I'm going to want some actual updates from the broker, not just "everything is fine". Might call HSBC directly otherwise 🙈 hope your valuation is a success.

You applied before me so yes definitely ring HSBC yourself. I did and asked where I was in the que and then contacted again to ask about valuation and again to ask if I had been allocated to an underwriter yet.  Think they were sick of me in the end. 

Hi there, do you know whether the valuation is the final stage of the process with HSBC or we will still need to wait for another month following that? I am a bit confused whether HSBC does the underwriting before or after the valuation. Am trying to be patient. Our valuation has been pushed out and it means more waiting...

I this this varies. We had our valuation done very early and others have had it as the last thing.

Thanks for your response. Would we know whether this is the first or the last thing? But it looks like the earliest to even hope for an offer is about 4-5 weeks after the submission of the full application. In this case, we may have quite a while to wait. This is driving me crazy!

I would imagine that if you're well into the process, it's probably one of the last things. The queues are very long, and it also depends on the buyers' situation. I'm self-employed with a complex income situation, so my application is going to take longer than an employed person's one, for example. Our valuation was literally done within days of our application, but this is now the 21st working day we've been waiting for an answer.

otmotm     I think it mostly depends on the individual situation and the house you're buying. I'm with Halfax, not HSBC, and they charged a £200 valuation fee on application. However I'm buying (hopefully) a new build which hasnt even had foundations laid yet so it will mostly be a desktop valuation for me. I'm going through my 2nd round of underwriting (on week 4 since application now) and when my broker resubmitted the application he asked Halifax to delay the valuation so that if it doesnt pass the underwriting I won't lose my £200 fee. If it passes the 2nd lot of underwriting they'll then conduct a desktop valuation. 

katiescotland88

otmotm said:

katiescotland88 said:

söpöpöllö said:

katiescotland88 said:

söpöpöllö said:

katiescotland88 said:

we just got an email from HSBC that they have approved our mortgage, subject to a satisfactory valuation, which is taking place this Friday. I am in total shock- I was convinced we would be rejected or be subject to a million more questions and scrutiny. 

 Amazing! Congratulations. Although now I'm bitter that we've heard nothing 😂

Thank you so much and LOL. That is exactly how I was feeling everytime I read anyone else's happy update. I was like 20% happy and 80% bitter. I'm sure you will be next. Keeping everything crossed for you. When did you apply again? 

On 10/8. I'm planning on giving it til Friday and then I'm going to want some actual updates from the broker, not just "everything is fine". Might call HSBC directly otherwise 🙈 hope your valuation is a success.

You applied before me so yes definitely ring HSBC yourself. I did and asked where I was in the que and then contacted again to ask about valuation and again to ask if I had been allocated to an underwriter yet.  Think they were sick of me in the end. 

Hi there, do you know whether the valuation is the final stage of the process with HSBC or we will still need to wait for another month following that? I am a bit confused whether HSBC does the underwriting before or after the valuation. Am trying to be patient. Our valuation has been pushed out and it means more waiting...

Hi, when i asked HSBC she said they change it all the time. Sometimes it is before underwritimg and sometimes after. They outsource to a surveyor company called SDL and they then organise a local surveyor. I suppose it would just depend how busy SDL are and local surveyors. I chased the valuation booking process to be told no one had booked it in. It was booked within 7 days of me chasing it. Might be worth phoning and asking about your own case. The call handler i had was very informative.

söpöpöllö

Well, we got the mind boggling news this morning that our mortgage has been reduced around £120k! Apparently my income is vastly reduced from my tax returns, which isn't even true. This has been my busiest year yet. I'm completely baffled as to how they've come to this decision. But if I can prove I've had income in the last 14 days, they might re-think. Doesn't even make sense. I've sent them several statements that show consistent income on a higher level than my previous tax returns. Absolutely baffled.

otmotm

söpöpöllö said:

Well, we got the mind boggling news this morning that our mortgage has been reduced around £120k! Apparently my income is vastly reduced from my tax returns, which isn't even true. This has been my busiest year yet. I'm completely baffled as to how they've come to this decision. But if I can prove I've had income in the last 14 days, they might re-think. Doesn't even make sense. I've sent them several statements that show consistent income on a higher level than my previous tax returns. Absolutely baffled.

So bizarre? And they took about a month to let you know this?

söpöpöllö

otmotm said:

söpöpöllö said:

Well, we got the mind boggling news this morning that our mortgage has been reduced around £120k! Apparently my income is vastly reduced from my tax returns, which isn't even true. This has been my busiest year yet. I'm completely baffled as to how they've come to this decision. But if I can prove I've had income in the last 14 days, they might re-think. Doesn't even make sense. I've sent them several statements that show consistent income on a higher level than my previous tax returns. Absolutely baffled.

So bizarre? And they took about a month to let you know this?

Yes, applied on 10/8, and then been back and forth with documents, then they went quiet for couple of weeks and now this.

firsttimebuyerlpl

Finally got our mortgage approved today! Waiting on the formal offer to come through! Submitted our application with Santander on the 11th of August so about a month wait. Asked for one additional document which held us up about 2 weeks! Now to the local searches

periwinkleperkins

periwinkleperkins said:

10-Aug Broker got DIP from Precise.

14-Aug Developer released new plots.

18-Aug Paid reservation fee. 

19-Aug Appointed conveyancer and applied to HTB. 

26-Aug Received ATP from HTB. Broker spoke to Precise BDM before submitting full application and advised wouldn’t meet criteria as had a 6 week break in employment in last 12 months. Broker requested new DIP through TFC / Vida Homeloans.  

28-Aug Received DIP from Vida Homeloans, full application submitted through TFC, app fee paid. 

1-Sep Broker advised "verbally accepted" and all documents OK
7-Sep Application "accepted" by underwriters subject to valuation / valuation instructed
10-Sep Valuation booked for 15-Sep

Fingers crossed for the full mortgage offer by the end of next week!

Gem_M90

Still nothing for me today! Going out of my mind. Resubmitted application to Halifax on 02/09 and it had to go back through underwriting. Sent all evidence for the discrepancy they flagged so I hoped it would be a faster underwriting process the 2nd time round. 

bearclaws

I've had my mortgage offer verbally confirmed but I haven't received the formal offer because my solicitors still haven't registered to my lender's panel despite assuring me TWO WEEKS AGO that they would be! Back and forth today, the solicitor telling me the application has gone in, the lender telling me it hasn't. !!!!!!? I'm giving them until Monday to sort their stuff out or I'm switching to another solicitor. I was told this wouldn't be an issue, I was naive to believe them, should have just gone with someone else. Beyond frustrated and so worried that my offer is going to fall through!