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

tom9980

sirich99 wrote: »

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

Natwest will ask for proof of deposit, they don't seem to ask for three month statements. If you haven't had any gambling deposits on this months statement it wont be an issue at all.

MensaOPPG

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.

In the same boat although not feeling hopeful


Coventry received our application on Thursday 14th March.
Carried the valuation Monday 18th.
I'm still waiting to hear my application progress.
Apparently they are behind by 9 days.
They explained to me that although they received my application on the 14th it was only scanned for the underwriters on the 19th and yesterday the underwriters were dealing with applications scanned on the 18th!


bored of this and really stressed by it.
btw, call Coventry if you want to know how the valuation went. they are really forthcoming with info. They were happy to tell me how the valuation went when I asked

lou2003uk

tom9980 wrote: »

Natwest will ask for proof of deposit, they don't seem to ask for three month statements. If you haven't had any gambling deposits on this months statement it wont be an issue at all.

natwest asked me for 3 months bank statement for me and my partner

sefilby

Quote:
Originally Posted by sefilby View Post
17th March - Application submitted
20th March - Phone call from Natwest Mortgage Centre; application ok but has been pulled for audit
25th March - Valuation Instructed booked for thusday
27th March - Valuation Survey carried out
Has anyone asked for a list of their lenders approved conveyancing panel or did you choose a solicitor and hope they were on it?

saving2704 wrote: »

Did you go direct to Natwest? Mine went through a broker on Monday the 10th and still no answer as to whether they are going to give me a mortgage - let alone sort the survey! I just need to know now!!!! I'm so nervous

Hi saving2704, we went directly through our local NatWest Branch.
Have you spoken to your broker since? If you've got your mortgage application reference number give the Natwest Mortgage centre a call, they were really helpful giving me an update.

ccbrowning

Update time:

31 January- Got a DIP (technically a "mortgage certificate") from Coventry building society

In between we found a new build home that we liked (unexpected and weren't looking for a new build), which eliminated Coventry as an option.

20 March - Sent PIF and reservation form into Help to Buy agent for the Equity Loan Scheme
21 March - Reserved plot and paid reservation fee
22 March - Received ATP letter from Help to Buy agent
25 March - Did a formal mortgage application with Leeds Building Society, which was successful (first computer bit, not to underwriter yet). Broker has payslips, etc.
28 March - Full documents formally sent in to Leeds (25th was the step with computer credit check apparently).

JennGa

Completed at 11am, got keys at 1 ran over there to put some doormats down to protect my beautiful carpet. Now have to work until 5 grr!

Good luck everyone it's well worth the stress!

iamssl

Hi everyone

Submitted mortgage application Monday, payslips requested sent 1st class Tuesday and they received them on Wednesday. Anyone know how long it takes for them to be approved? I keep checking the status online and nothings happening booo

Valuation booked for Monday

Itching feet already!!

sirich99

sirich99 wrote: »

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

*Update*

I spoke with Natwest this afternoon and was told our application has been passed to the valuation team to arrange a valuation. From what I have read on here this seems to be a positive step...is this correct??

They have requested another copy of my driving licence and a utility bill as proof of address. I explained to the associate that I did not have any utility bills in my name as I was living with my parents. The associate called through to the underwriters team to explain and was told they could use my bank statements instead. I have faxed my driving license along with a copy of my car insurance certificate and a CRB certificate to assist with my proof of address.

I must say im really glad i called natwest personally because

a) My broker said there would be no progress until Monday....I found out different and have got the docs across today

b) The associate was really helpful and gave me clear concise info....which I haven't had so far from my broker.

Fingers crossed for the valuation

Kazza_Monkey

iamssl wrote: »

Hi everyone

Submitted mortgage application Monday, payslips requested sent 1st class Tuesday and they received them on Wednesday. Anyone know how long it takes for them to be approved? I keep checking the status online and nothings happening booo

Valuation booked for Monday

Itching feet already!!

Hi just thought I'd say you won't hear anything til after the valuation we had some issues with ours and 14 working days since we applied we now have our offer so try not to worry too much most people get their offer straight after valuation but in our case we had problems with some of the documents being unreadable and having to resend them and I gad put in my husbands income wrong too so it had a fair bit of rearranging done. Main thing is don't panic nationwide will ring you if there is a problem

Paulaviki

Paulaviki wrote: »

AIP - 18/01/14
First viewing - 09/03/14
Offer accepted 10/03/14
Solicitors picked - 11/03/14
Paperwork done and full application submitted with Nationwide - 17/03/14
Valuation - 25/03/14

Valuation was done at lunchtime today (surveyor called me to see if there was anything I wanted looked at in particular) and when I got home from work at 6.30 I'd had a text from Nationwide saying the valuation was satisfactory and they've made a formal mortgage offer which is in the post!!

:j:j

So far I cannot fault Nationwide at all, but I'll reserve judgement until I see the offer!

Official offer received 28/03/13 for full amount! Woohoo!

And we also received some forms from the solicitor to complete. So now it's all in their hands I guess!