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

MelT1987

Another FTB here up in Scotland, bag of nerves waiting for something, anything!!!

Our offer was accepted 31st August, full application was made with Barclays last Wednesday and not heard a peep since. Anyone had their mortgage through Barclays recently and how long did the offer take to come through? We have been living with my parents in one room with our 2 year old for 2 months now and am desperate to get moving!! We both have excellent credit scores, I have a couple of credit cards, hubby has none, all pretty standard I would think for people our age.  I cant concentrate on anything else!!!

SammyD84

I am also a bag of nerves.
I had to get an onsite surveyor to value a property as they were so out on their automated valuation. this was submitted last week and Halifax confirmed on weekend this new valuation was now accepted, MA was expecting offer Monday but nothing has now happened! I cant cope with the ongoing uncertainty! 

DanielACB

First Time Buyer - HTB Equity Loan - New Build - Halifax via Broker

MIP - 05/09

Property reservation - 06/09

Full Application submitted - 10/09

Awaiting next update....

Anyone got an idea on the timescales with Halifax from now on? No credit issues, within affordability, 75% LTV (5% deposit, 20% equity loan).

Thanks,

Dan

SammyD84

DanielACB said:

First Time Buyer - HTB Equity Loan - New Build - Halifax via Broker

MIP - 05/09

Property reservation - 06/09

Full Application submitted - 10/09

Awaiting next update....

Anyone got an idea on the timescales with Halifax from now on? No credit issues, within affordability, 75% LTV (5% deposit, 20% equity loan).

Thanks,

Dan

DanielACB said:

First Time Buyer - HTB Equity Loan - New Build - Halifax via Broker

MIP - 05/09

Property reservation - 06/09

Full Application submitted - 10/09

Awaiting next update....

Anyone got an idea on the timescales with Halifax from now on? No credit issues, within affordability, 75% LTV (5% deposit, 20% equity loan).

Thanks,

Dan

We've been going through process with halifax since 20/08 and ours has some complications, the whole way through they have updated us really quickly within 2-3 days when we've submitted requested information etc so they do seem to be working rapidly! I'm not quite there yet though as still waiting on decision but at least they have shown good communication throughout :-)

kathonetwo34

All the uncertainty is driving me crazy! What seems to take a week for some people can take a month or more for others. We have no debt, no credit cards, we do have £2500 credit limit with an Argos card, how ever it was cleared 6 months ago and Husband has a good credit score, but with only one of us working at the moment worried that might be a factor, also worried about the bank statements, husband spends a crazy amount on Amazon 🤦 and big boy toys for himself. Boy racer car, motorbike,van  the guy is 37, his mid life crisis hit early!! We don't live above our means but we do skate on it. MA hasnt advised this would be a problem but hasn't advised it wont. Drove past the property yesterday to find a sold sign on it! Ipanicked, husband called estate agents only to be told yes, sold to you lol um felt so stupid!! Going to feel even dumber if mortgage is denied never want to buy a house again 

Gem_M90

DanielACB said:

First Time Buyer - HTB Equity Loan - New Build - Halifax via Broker

MIP - 05/09

Property reservation - 06/09

Full Application submitted - 10/09

Awaiting next update....

Anyone got an idea on the timescales with Halifax from now on? No credit issues, within affordability, 75% LTV (5% deposit, 20% equity loan).

Thanks,

Dan

I was 23 working days from application with Halifax to offer. I'm in Scotland and a single applicant and the underwriting was very thorough. 

DanielACB

Gem_M90 said:

DanielACB said:

First Time Buyer - HTB Equity Loan - New Build - Halifax via Broker

MIP - 05/09

Property reservation - 06/09

Full Application submitted - 10/09

Awaiting next update....

Anyone got an idea on the timescales with Halifax from now on? No credit issues, within affordability, 75% LTV (5% deposit, 20% equity loan).

Thanks,

Dan

I was 23 working days from application with Halifax to offer. I'm in Scotland and a single applicant and the underwriting was very thorough. 

Looks like there were a few issues with your process - lets hope this one goes slightly smoother! Do you mind asking what the affordability and discrepancies were please?

Gem_M90

DanielACB said:

Gem_M90 said:

DanielACB said:

First Time Buyer - HTB Equity Loan - New Build - Halifax via Broker

MIP - 05/09

Property reservation - 06/09

Full Application submitted - 10/09

Awaiting next update....

Anyone got an idea on the timescales with Halifax from now on? No credit issues, within affordability, 75% LTV (5% deposit, 20% equity loan).

Thanks,

Dan

I was 23 working days from application with Halifax to offer. I'm in Scotland and a single applicant and the underwriting was very thorough. 

Looks like there were a few issues with your process - lets hope this one goes slightly smoother! Do you mind asking what the affordability and discrepancies were please?

The discrepancies were simply that my credit report hadn't updated for 3 months and I still had car finance a balance on a credit card showing on it which had been cleared. 
Affordability issues turned out not to be issues at all, the underwriters were being extra strict as I'm applying on my own.  Initially the intention was to apply jointly with my partner, however he has a few adverse issues on his file and my broker worked out it would be much cheaper for me to apply on my own, as I would get a rate of 1.45% as opposed to rates closer to 4% with my partner. Because I was applying on my own, we had to throw alot more in as a deposit for me to meet lending criteria myself. Due to this, I have just under 5k in credit on a few things which we werent able to pay off before applying. My broker included this in the application, but that's what caused the affordability issue. I've had an approval now on the basis that it will be cleared before completion (not due to complete until feb-march 2021)

söpöpöllö

katiescotland88 said:

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? 

It was meant to be this Friday but we have only just got our full mortgage documents so not enough time for the solicitors to process it and now we have to wait a month. Sellers want to now leave in untill October! Time to move in with the family for a month 🙄 

Oh dear. At least you have something to look forward to 😬

sully1311

Here's my timeline:
Offer Made (Rejected): 22/08/2020
2nd Offer Made: 23/08/2020
Offer Accepted: 24/08/2020
DIP (HSBC): 26/08/2020
Full Application: 04/09/2020 (85% LTV were taken off intermediary site on 26th)
Application Approved: 08/09/2020
Full Offer: 15/09/2020
Absolutely over the moon! I literally can't believe it. I've not been able to sleep since we applied for the mortgage, as I didn't think we would get one with it being HSBC, but our broker said it sailed through with no issues.