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

greensalad

Wow didn't expect that... valuation has already been booked even though documents were only submitted to HSBC this morning... is that really right?!

Anyway... valuation is the thing I'm most scared about. Me and OH are concerned we over offered on the property. We had a number that we thought was right at the time, and then when we went we thought the spec of the property was much higher than expected, the property felt larger, and the seclusion made it worth more (very end of the close with countryside around). So we added 5k on our offer.

Been worrying that 5k was a mistake and perhaps even 10k over was a mistake. Not in terms of me not being willing to pay it, but with what the bank will think.

FTB so we don't have much extra cash.

Anyway, sorry for the ramble. Just really really nervous about downvaluation!

clare19811

arrows123 said:

Mortgage app went in 2 weeks ago via broker. I'm self employed so I know it's likely to take longer and go through underwriters although broker doesn't seem concerned. My business wasn't impacted by covid, large deposit, years of account history, no credit etc so the signs should be good - waiting is the killer! Anyone else self employed waiting for mortgage decision/offer?

Just over half of my income is self employed and I’m worrying about it, but like you I wasn’t affected by Covid and our broker doesn’t seem to think there’s any reason to worry. We have around 33% deposit. Our application went in with nationwide a week ago today, valuation has been done and we’re just waiting to hear now. It’s the most stressful thing! 

FashionHeart

greensalad said:

Wow didn't expect that... valuation has already been booked even though documents were only submitted to HSBC this morning... is that really right?!

Anyway... valuation is the thing I'm most scared about. Me and OH are concerned we over offered on the property. We had a number that we thought was right at the time, and then when we went we thought the spec of the property was much higher than expected, the property felt larger, and the seclusion made it worth more (very end of the close with countryside around). So we added 5k on our offer.

Been worrying that 5k was a mistake and perhaps even 10k over was a mistake. Not in terms of me not being willing to pay it, but with what the bank will think.

FTB so we don't have much extra cash.

Anyway, sorry for the ramble. Just really really nervous about downvaluation!

I'll second that. It took us less than a week to hear about our application from HSBC - they are very efficient indeed!
I would've thought it would take longer than that given our current situation and circumstances, but nevertheless we finally have an offer! 
Just waiting for our completion date now.

JD12Ev

Hey! 
First time posting on this thread.. after scrolling through its been easing my nerves after seeing so many people getting their offers through.

I am a FTB, purchasing a 90% LTV with my Boyfriend. We submitted our application directly to Santander 5 weeks ago, valuation was done 3 weeks ago and came back at the asking value so no issues there.. but in the past 5 weeks we have had 4 rounds of questions/documents asked,about covid, furlough, why did my boyfriendhave unpaid leave last month ( his mum unfortunately got diagnosed with Cancer and he needed to take her to treatment and his work dont pay for sick days or they dont issue holidays if not enough notice given... ball ache!) And some other stupid questions like why was he on furlough..so back to the underwriters 4 times 😬 we are both in full time work, and didnt think we were a complicated case... 

I think I've aged 20 years in the past 5 weeks, please keep your fingers and toes crossed for us! Xx

WorriedKirkels

greensalad said:

Wow didn't expect that... valuation has already been booked even though documents were only submitted to HSBC this morning... is that really right?!

Anyway... valuation is the thing I'm most scared about. Me and OH are concerned we over offered on the property. We had a number that we thought was right at the time, and then when we went we thought the spec of the property was much higher than expected, the property felt larger, and the seclusion made it worth more (very end of the close with countryside around). So we added 5k on our offer.

Been worrying that 5k was a mistake and perhaps even 10k over was a mistake. Not in terms of me not being willing to pay it, but with what the bank will think.

FTB so we don't have much extra cash.

Anyway, sorry for the ramble. Just really really nervous about downvaluation!

Me too - our mortgage has been approved subject to valuation which takes place this Thursday and worrying that valuation will come in under offer price. We fell in love with what the house could be and the location - just hoping the surveyor can see it too! 😬

WorriedKirkels

clare19811 said:

arrows123 said:

Mortgage app went in 2 weeks ago via broker. I'm self employed so I know it's likely to take longer and go through underwriters although broker doesn't seem concerned. My business wasn't impacted by covid, large deposit, years of account history, no credit etc so the signs should be good - waiting is the killer! Anyone else self employed waiting for mortgage decision/offer?

Just over half of my income is self employed and I’m worrying about it, but like you I wasn’t affected by Covid and our broker doesn’t seem to think there’s any reason to worry. We have around 33% deposit. Our application went in with nationwide a week ago today, valuation has been done and we’re just waiting to hear now. It’s the most stressful thing! 

My husband is self employed so we worried about the impact of COVID (even tho his business wasn’t affected negatively) on our ability to get a new mortgage to upsize but had the decision within less than a week. It’s subject to valuation so now worrying whether that will come through at what we have offered….very stressful!

WorriedKirkels

JD12Ev said:

Hey! 
First time posting on this thread.. after scrolling through its been easing my nerves after seeing so many people getting their offers through.

I am a FTB, purchasing a 90% LTV with my Boyfriend. We submitted our application directly to Santander 5 weeks ago, valuation was done 3 weeks ago and came back at the asking value so no issues there.. but in the past 5 weeks we have had 4 rounds of questions/documents asked,about covid, furlough, why did my boyfriendhave unpaid leave last month ( his mum unfortunately got diagnosed with Cancer and he needed to take her to treatment and his work dont pay for sick days or they dont issue holidays if not enough notice given... ball ache!) And some other stupid questions like why was he on furlough..so back to the underwriters 4 times 😬 we are both in full time work, and didnt think we were a complicated case... 

I think I've aged 20 years in the past 5 weeks, please keep your fingers and toes crossed for us! Xx

Fingers crossed 🤞- it’s not a no so sounds positive - especially when you can answer their queries. Agree with the ageing point, I already had a few greys but this is definitely making it worse 😬 x

JD12Ev

WorriedKirkels said:

JD12Ev said:

Hey! 
First time posting on this thread.. after scrolling through its been easing my nerves after seeing so many people getting their offers through.

I am a FTB, purchasing a 90% LTV with my Boyfriend. We submitted our application directly to Santander 5 weeks ago, valuation was done 3 weeks ago and came back at the asking value so no issues there.. but in the past 5 weeks we have had 4 rounds of questions/documents asked,about covid, furlough, why did my boyfriendhave unpaid leave last month ( his mum unfortunately got diagnosed with Cancer and he needed to take her to treatment and his work dont pay for sick days or they dont issue holidays if not enough notice given... ball ache!) And some other stupid questions like why was he on furlough..so back to the underwriters 4 times 😬 we are both in full time work, and didnt think we were a complicated case... 

I think I've aged 20 years in the past 5 weeks, please keep your fingers and toes crossed for us! Xx

Fingers crossed 🤞- it’s not a no so sounds positive - especially when you can answer their queries. Agree with the ageing point, I already had a few greys but this is definitely making it worse 😬 x

Imagine getting to 5 weeks to be told No 😔 im keeping positive as all the questions can easily be answered and supported with a document to prove.. just wanna be put out of the misery of the unknown.

Hairdressers booked for Wednesday as these greys are sprouting up fast! X

WorriedKirkels

JD12Ev said:

WorriedKirkels said:

JD12Ev said:

Hey! 
First time posting on this thread.. after scrolling through its been easing my nerves after seeing so many people getting their offers through.

I am a FTB, purchasing a 90% LTV with my Boyfriend. We submitted our application directly to Santander 5 weeks ago, valuation was done 3 weeks ago and came back at the asking value so no issues there.. but in the past 5 weeks we have had 4 rounds of questions/documents asked,about covid, furlough, why did my boyfriendhave unpaid leave last month ( his mum unfortunately got diagnosed with Cancer and he needed to take her to treatment and his work dont pay for sick days or they dont issue holidays if not enough notice given... ball ache!) And some other stupid questions like why was he on furlough..so back to the underwriters 4 times 😬 we are both in full time work, and didnt think we were a complicated case... 

I think I've aged 20 years in the past 5 weeks, please keep your fingers and toes crossed for us! Xx

Fingers crossed 🤞- it’s not a no so sounds positive - especially when you can answer their queries. Agree with the ageing point, I already had a few greys but this is definitely making it worse 😬 x

Imagine getting to 5 weeks to be told No 😔 im keeping positive as all the questions can easily be answered and supported with a document to prove.. just wanna be put out of the misery of the unknown.

Hairdressers booked for Wednesday as these greys are sprouting up fast! X

I think I’m booked for the week after 🤣 - good luck and hopefully we will both have positive news soon x

E_D_FTB

JD12Ev said:

WorriedKirkels said:

JD12Ev said:

Hey! 
First time posting on this thread.. after scrolling through its been easing my nerves after seeing so many people getting their offers through.

I am a FTB, purchasing a 90% LTV with my Boyfriend. We submitted our application directly to Santander 5 weeks ago, valuation was done 3 weeks ago and came back at the asking value so no issues there.. but in the past 5 weeks we have had 4 rounds of questions/documents asked,about covid, furlough, why did my boyfriendhave unpaid leave last month ( his mum unfortunately got diagnosed with Cancer and he needed to take her to treatment and his work dont pay for sick days or they dont issue holidays if not enough notice given... ball ache!) And some other stupid questions like why was he on furlough..so back to the underwriters 4 times 😬 we are both in full time work, and didnt think we were a complicated case... 

I think I've aged 20 years in the past 5 weeks, please keep your fingers and toes crossed for us! Xx

Fingers crossed 🤞- it’s not a no so sounds positive - especially when you can answer their queries. Agree with the ageing point, I already had a few greys but this is definitely making it worse 😬 x

Imagine getting to 5 weeks to be told No 😔 im keeping positive as all the questions can easily be answered and supported with a document to prove.. just wanna be put out of the misery of the unknown.

Hairdressers booked for Wednesday as these greys are sprouting up fast! X

We're on week 5 too - the wait is just the worst! Also FTB with 90% deposit, although I think our case is a little less complicated. But our Broker isn't worried, so I'm trying to focus on that rather than Googling all the reasons mortgages get rejected! But I'm sure if you've got all the evidence then it'll be fine - it just might take longer than you'd like! Good luck!