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

tom9980

tom9980 wrote: »

3/1 - view house, surprised how much we like it.
6/1 - view again.
8/1 - offers rejected.
16/1 - sealed bids.
17/1 - lose sealed bid.
24/2 - house comes back on market - offer accepted same day.
1/3 - view again to look at the issues pulled buyer had highlighted.
6/3 - Broker visits.
7/3 - Mortgage application made to NatWest
13/3 - application accepted and sent to underwriters
15/03 - been asked for proof of deposit. Annoyingly need to order one statement for an ISA.
20/03 - documents for proof submitted
24/03 - broker tells me they chased and told it won't be looked at until end of this week. Checked online banking and survey fee has been reserved so maybe not!

25/3 - Broker chased Natwest for me again and Survey is booked for Monday. Confirmed by agent.

NewbuyerNE

NewbuyerNE wrote: »

Hello again!

Here's my timeline!

15/02 - started viewing houses in Chester le Street, thought we found one we liked - didn't really feel right. want to check it out again
18/02- DIP confirmed through Halifax
22/02 - second viewing. Quickly realised we want to live closer to home
04/03 - promoted and able to afford homes closer to coast
05/03 - viewed house we've been stalking on Rightmove since January
06/03 - initial offer rejected, second offer accepted for £5k less than list price
15/03 - full mortgage application
17/03 - valuation instructed
24/03 - Valuation completed
25/03 - Mortgage offered!

We've been super lucky to have a smooth process so far *fingers crossed*/*touch wood* etc etc.

Good luck to all those still waiting!

27/03 - Mortgage offer received in the post!

Still can't believe it...

saving2704

My application was submitted on the 17th to Natwest (although MA's asst let slip it was 19th but then tried to back track). Yesterday Natwest requested more docs which MA already had so he scanned these off.

Spoke to MA's assistant today who got my back up. Explained many people on here seemed to be getting a quicker turnaround. She then said that I must have this wrong.... After wasting 10 mins of my life and getting nowhere I rang Natwest direct.

Spoke to a lovely lady at Natwest who was very friendly and helpful. Apologised for the delay in me being on hold. She gave me my acc number so I can ring back direct if I need to in future. Told me that I should have a decision on my application on Tuesday and - if this is ok - they will sort the valuation. Also explained that they take the valuation fee once I have been approved so if I see this go out my account thats good news.

Will be stalking my internet banking from here on out!

Still extremely nervous - cross your fingers for me please!

Kazza_Monkey

NewbuyerNE wrote: »

27/03 - Mortgage offer received in the post!

Still can't believe it...

:T congratulations looks like you will be moving very soon :T

NewbuyerNE

Kazza_Monkey wrote: »

:T congratulations looks like you will be moving very soon :T

I hope! We've been with the in-laws 3 years...

Our seller still waiting for their new home renovations to be completed before their surveys can start but looking promising! Not much queries for our solicitor to check *fingers crossed*

Was pleased to see yours came back positive!

Green_grass

Exchanged today! Completion for the 11th April :j

Nearly there!

song_of_calliope

Congratulations NewbuyerNE and Green_grass!

We are waiting for a response from Coventry. Our Valuation was carried out on Monday 24th and we thought surely we would have an answer by now. I suppose the fact that they did the valuation is a good sign as if they were minded to reject us I don't think they'd have other end to look at the house?? But I don't understand why they haven't even told us whether the valuation was okay or not. Meanwhile the vendors' EA is getting impatient.

kingstreet

song_of_calliope wrote: »

Congratulations NewbuyerNE and Green_grass!

We are waiting for a response from Coventry. Our Valuation was carried out on Monday 24th and we thought surely we would have an answer by now. I suppose the fact that they did the valuation is a good sign as if they were minded to reject us I don't think they'd have other end to look at the house?? But I don't understand why they haven't even told us whether the valuation was okay or not. Meanwhile the vendors' EA is getting impatient.

48 hours is the usual service level agreement between the lender and the surveyor, then about another 24 hours for the report to be assessed and accepted.

You're still within acceptable standard timescales.

song_of_calliope

Thank you, Kingstreet! Do you know whether the valuation is the final step with Coventry, i.e. if it comes back okay they should offer?

sirich99

Here is our chronological list of events

27/2/14 Met with Broker to assess our options re: Mortgage
28/2/14 Confirmation from our broker that he has an AIP for 135k mortgage at 95% LTV
28/2/14 after lots of offers back an forth, we finally have an offer accepted for £134k
03/03/14 Meet with HSBC MA to see what our options are with them.
04/03/14 Decide to go with Mortgage Broker as we are FTB's and felt we needed MB's knowledge.
04/03/14 Meet with MB and decide to go with an application to Accord Mortgages with 90% LTV.
07/03/14 Find out our application has been referred, anxiety begins.
10/03/14 Find out application declined due to our low credit score (partner & I have never really had anything on credit before). Assured by broker that this is nothing to worry about as Accord are cherry picking client due to good rates on offer.
10/03/14 Agree over phone with MB to make an application to Natwest.
14/03/14 Have to chase MB who lets us know that our application has passed credit scores and is all approved etc and we need to arrange to meet up again to go through paperwork. Meeting scheduled for 18/03/2014
18/03/14 Meet with MB, go through paperwork...sign declarations.
20/03/14 Call from MB's head office to say application has been sent off with all documentation and they will chase Natwest on 26-03-14 for a decision.
26/03/14 I contact Head Office who say that they won't be chasing until 27/03/14 (why say 26/03 then)
27/03/14 I email Head Office for update. Apparantely contacted Natwest and NW have confirmed all documentation received and it is in the queue. Head Office won't be chasing again until Monday. I have asked for Natwest Reference Number to contact Natwest directly.

The info we have received from MB and Head Office has been very vague. I understand our application isnt as important to them as it is to us but the info has been very confusing.

We are anxious as during our meeting with HSBC the advisor mentioned betting transactions on my b/a. I do this as a social hobby with friends. I never go into my overdraft and save a regular amount each month. I transfer a set amount into a joint account i have with my partner for our living costs such as rent, bills, food etc and then use the remaining income for social activities. I have discussed this with my MB who dismissed it as nothing to worry about and also said he had discussed it with Natwests BDM who had also said it should not be a problem and the worst scenario is that they take it as expense in the affordability checks. I may have been a little naieve but i had no idea this would affect our mortgage chances and since our meetings with HSBC i have not made another deposit. Even with the reassurances from our MB i am still anxious.

Does anybody know how long until we can expect an answer? Our rent is due again on 3rd April and we would like to have completed by 3rd of May. Is this achievable do you think?

Any advice would be much appreciated