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

coronacaution

Hi everyone, we've had our DIP and lenders valuation (Nationwide) is taking place on Tuesday 9th Feb. Can I ask what to expect following this? Is it after this we recieve a formal offer from lender and therefore we can instruct conveyancer to start searches etc? Our conveyancer is ready to go we have the paperwork but didn't want to send it back incase its still a risky part of the process given lender valuation still not happened. Any advice appreciated, thanks. 

Slanders1305

Just to say what a great experience we’ve had (easier to say now we’ve been through it). 

Full application with West Brom in on 28/01 - valuation booked the next morning for 03/02 and we received our offer an hour later! 

The relief of this stage being done is epic. We are both chain free too so hoping it’s not TOO stressful from this point out. 

Can’t fault West Brom at all. 

f1ngerscrossed274

chezFTB said:

f1ngerscrossed274 said:

chezFTB said:

Submitted application to Newcastle BS on 22nd Jan - waited a week to be told the address on the DIP was our old address so we had to get a new one and re-submit . Got new DIP and submitted application on Tuesday so after a week of anxiety the clock has been reset and starting all over again! This is way more stressful than I expected it to be lol!

We’re in a similar position - we had our DIP approved with Newcastle on Friday and now submitted the application, waiting to hear back. I’m with you on the stress!

Good luck with yours!! We submitted originally on a Friday and the hard search was done the following Friday then the Monday was when we found out we had to do it again but our MA said that was when it was about to be fully assessed. Just to help with time frames  

Thanks! We have had some queries from the lender today, via our broker - nothing that overly concerns us but just checking a couple of things on our bank statements / credit files. Hopefully this is a positive step forwards! 

chezFTB

f1ngerscrossed274 said:

chezFTB said:

f1ngerscrossed274 said:

chezFTB said:

Submitted application to Newcastle BS on 22nd Jan - waited a week to be told the address on the DIP was our old address so we had to get a new one and re-submit . Got new DIP and submitted application on Tuesday so after a week of anxiety the clock has been reset and starting all over again! This is way more stressful than I expected it to be lol!

We’re in a similar position - we had our DIP approved with Newcastle on Friday and now submitted the application, waiting to hear back. I’m with you on the stress!

Good luck with yours!! We submitted originally on a Friday and the hard search was done the following Friday then the Monday was when we found out we had to do it again but our MA said that was when it was about to be fully assessed. Just to help with time frames  

Thanks! We have had some queries from the lender today, via our broker - nothing that overly concerns us but just checking a couple of things on our bank statements / credit files. Hopefully this is a positive step forwards! 

Yeah I can only imagine that questions/checking things is a positive sign. We got questions at DIP stage about our credit reports and heard back super quickly like the next day I think! We heard from our MA today that valuation has been instructed so hopefully that’s a good sign too! 

f1ngerscrossed274

chezFTB said:

f1ngerscrossed274 said:

chezFTB said:

f1ngerscrossed274 said:

chezFTB said:

Submitted application to Newcastle BS on 22nd Jan - waited a week to be told the address on the DIP was our old address so we had to get a new one and re-submit . Got new DIP and submitted application on Tuesday so after a week of anxiety the clock has been reset and starting all over again! This is way more stressful than I expected it to be lol!

We’re in a similar position - we had our DIP approved with Newcastle on Friday and now submitted the application, waiting to hear back. I’m with you on the stress!

Good luck with yours!! We submitted originally on a Friday and the hard search was done the following Friday then the Monday was when we found out we had to do it again but our MA said that was when it was about to be fully assessed. Just to help with time frames  

Thanks! We have had some queries from the lender today, via our broker - nothing that overly concerns us but just checking a couple of things on our bank statements / credit files. Hopefully this is a positive step forwards! 

Yeah I can only imagine that questions/checking things is a positive sign. We got questions at DIP stage about our credit reports and heard back super quickly like the next day I think! We heard from our MA today that valuation has been instructed so hopefully that’s a good sign too! 

Brilliant! All sounds like it’s moving well for you now - and I got a text this morning saying our valuation is happening TODAY, had to pinch myself! Here’s hoping that good news for us both isn’t too far away.

chezFTB

f1ngerscrossed274 said:

chezFTB said:

f1ngerscrossed274 said:

chezFTB said:

f1ngerscrossed274 said:

chezFTB said:

Submitted application to Newcastle BS on 22nd Jan - waited a week to be told the address on the DIP was our old address so we had to get a new one and re-submit . Got new DIP and submitted application on Tuesday so after a week of anxiety the clock has been reset and starting all over again! This is way more stressful than I expected it to be lol!

We’re in a similar position - we had our DIP approved with Newcastle on Friday and now submitted the application, waiting to hear back. I’m with you on the stress!

Good luck with yours!! We submitted originally on a Friday and the hard search was done the following Friday then the Monday was when we found out we had to do it again but our MA said that was when it was about to be fully assessed. Just to help with time frames  

Thanks! We have had some queries from the lender today, via our broker - nothing that overly concerns us but just checking a couple of things on our bank statements / credit files. Hopefully this is a positive step forwards! 

Yeah I can only imagine that questions/checking things is a positive sign. We got questions at DIP stage about our credit reports and heard back super quickly like the next day I think! We heard from our MA today that valuation has been instructed so hopefully that’s a good sign too! 

Brilliant! All sounds like it’s moving well for you now - and I got a text this morning saying our valuation is happening TODAY, had to pinch myself! Here’s hoping that good news for us both isn’t too far away.

That's great news!! We have no idea when ours is but its been instructed apparently haha. Fingers crossed for both!!

Mani_London

Hi,
Waiting for valuation to take [place. It has been scheduled for this week. I hope to hear a good news this week. 

BettyVob

Valuation happening today, expecting an update by the 17th. First mortgage so no idea what to expect!

Mani_London

Hi @BettyVob: just wondering how would you know that you will get an update by 17th ? isn't it is a straight forward process if valuation is same as of your offering price ?

BettyVob

Hi @Mani_London: Our broker administrator has given us the timeframe. They've said it's taking about 6 days to check paperwork and we submitted on Friday. Valuation should be straightforward as it is a new build - I hope!