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

SuH3

My time line 

House on market 04/06
Sold 13/06
Offer on new place 15/06
Offer accepted 18/06
Mortgage with Satander 

Applied 03/08
Soft search 13/08 
Hard Search 18/08
Completed pending valuation 21/08
Physical Valuation 27/08
Offer by email 10/09

Been a long stressful few weeks after changing MA at end of July as no progress from end of June 
Solicitor is just waiting on our offer to complete , everything is already in place because of the wait with change over. 

Good Luck everyone else 

söpöpöllö

Praise the lord and our broker, we have now received our mortgage in full. He appealed with my latest statements since their first decision was completely nonsensical and they issued it in full this morning. I was in a right state yesterday.

23rd working day and massive stress levels, but we're alive. 

stevinem

Here's my horrible timeline: 
FTB - 25%Deposit - excellent credit and well with affordability

1. 20th July - Offer Accepted
2. 23rd July - Mortgage Application Submitted via Broker
3. 24th July - The mortgage provider withdrew rate before broker submitted. Applied to new lender with better rate. Flat out rejection - not clear what we failed on but unlucky I guess. 
4. 27th July - applied to original lender on alternative rate. 
5. 10th August - hear back that we have passed but lender wants to wait until salary returns to 100% with the relevant pay slip as proof. Respond that I have a letter proving it will - but am well within affordability criteria on 85% pay. They accept query but say that I will need to wait 10 business days to be reassessed. 
6. 24th August - MP mentions we've been approved but queries parents address on one of our payslips. We reply saying they are digital and we haven't updated address for convenience. They approve but say we have to wait another 7 business days to be reassessed. 
7. 9 business day later we receive confirmation of offer via email - receiving the offer in the post the next day. 

Phew! Don't want to ever go through that again. Reading articles about mortgage deals disappearing did not help!
At least we can now look forward to moving in at end of September!

otmotm

söpöpöllö said:

Praise the lord and our broker, we have now received our mortgage in full. He appealed with my latest statements since their first decision was completely nonsensical and they issued it in full this morning. I was in a right state yesterday.

23rd working day and massive stress levels, but we're alive. 

Congratulations!!! Finally your turn - well deserved after such a terrible wait and all. Happy for you

xMeganCL

Working day 23 for me today. Takes soooo long

JayPeeEss

JayPeeEss said:

JayPeeEss said:

JayPeeEss said:

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....

So tomorrow will be 7 weeks since my application, more than 4 weeks since last requested information was sent in and still no news - it's beyond a joke frankly

So what the actual **** - latest update showing on the tracker at 19.03 yesterday.

"You have advised us that your client wishes to cancel their mortgage application. We can confirm that this application has now been cancelled"

I have done no such thing, broker knows nothing about it - I am so ******* angry about this right now 

So another update. My broker contacted NatWest and managed to speak to someone who told her the application hadn't been cancelled, it had lapsed because they hadn't received the form regarding the impact of Covid. 

Turns out this is untrue because when the NatWest guy looks through the information sent over, there it is - in fact there were two copies of it - and he agreed there is no reason why the application should have been lapsed and he is at a loss to explain what has happened.

So there we have it - after seven weeks, my application hasn't even been seen by an underwriter.

They were going to manually key in the application back onto their system  today and upload the documents again - broker will call them on Monday for an update and to try and get it escalated. 

My concern now is that the information they have isn't current - they asked for last 4 months payslips and bank statements amongst other things, and I've been paid twice since then and there's 7 weeks worth of bank transactions they aren't aware of.

Whatever the outcome I'll be making a formal complaint about this - I'm absolutely disgusted.

söpöpöllö

@JayPeeEss, that is grim. Hope they can get it sorted for you soon.

katiescotland88

söpöpöllö said:

Praise the lord and our broker, we have now received our mortgage in full. He appealed with my latest statements since their first decision was completely nonsensical and they issued it in full this morning. I was in a right state yesterday.

23rd working day and massive stress levels, but we're alive. 

Wooooooooooohoooooooo!!!! Congrats! When do you move in? 

rachelmck97

I thought I would share our timeline and journey through this crazy process. As first time buyers with a 10% deposit, our only real option was applying with HSBC. The process definitely hasn’t been easy and we’ve had quite a few times where we didn’t think things were going to work out in our favour, but today we finally got the good news we have been waiting for. 

10th July - Agreement in principle.

13th July - Sale agreed on house. 

20th July - Contacted mortgage broker, submitted documents, agreed on HSBC due to our 10% deposit. 

21st August - Mortgage advisor had tried for 4 weeks at this point to get our application through to HSBC due to backlog and limited number of mortgages each day, and finally managed to get our application through. 

24th August - Valuation arranged.

25th August - Soft and hard searches.

26th August - Valuation completed. 

2nd September - August bank statements and payslips requested. 

5th September - more soft searches done. 

7th September - contacted broker for update, told that our application is with underwriter for final checks.

11th September - Mortgage offer. 

After what feels like a lifetime of nervous waiting we are so delighted to finally have our mortgage offer and get on with the moving process ! Good luck to everyone else  

söpöpöllö

katiescotland88 said:

söpöpöllö said:

Praise the lord and our broker, we have now received our mortgage in full. He appealed with my latest statements since their first decision was completely nonsensical and they issued it in full this morning. I was in a right state yesterday.

23rd working day and massive stress levels, but we're alive. 

Wooooooooooohoooooooo!!!! Congrats! When do you move in? 

No clue! Searches are back and we've received the contract and transfer but dates haven't been discussed yet. We still have a survey to be done on Wednesday but I don't expect any problems. What about you? 🙈