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

TrixA

Glad I've found this thread. My timeline:

20/3 - Offer accepted
21/3 - AIP
28/3 - Full application submitted in branch (after much faffing from bank)
1/4 - Called HSBC mortgages and told they have yet to receive our papers.
2/4 Posted additional documentation of salary increase I've just found out about.

One thing I'm confused about is that some people on this thread are talking about the valuation being booked right after they've submitted their application. It appears that at HSBC this doesn't happen until the application has been through the underwriters. Is this normal? The estate agent has been hassling us to know when the valuation will happen - now I am wondering if this is because some lenders arrange the valuation right away?

Kazza_Monkey

Kazza_Monkey wrote: »

Well, an unexpected turn of events!!! had a call off Nationwide an hour ago. They arent declining us after all just wont be offering the full amount of £151k they will only Loan £145400 a shortfall of
£5600 luckily we can stump up the extra cash so I wont need the IFA after all (but I would use one looking back with hindsight). Will be getting the offer through mid-week next week.
on the plus side it brings us down to 78% LTV only downer will be having to save up again to be able to afford some of the nice bits and pieces for the new house. Thanks everyone for the great support, I think I would have gone mad without your advice

Well the mortgage offer arrived today but weirdly it was for the full amount not that I'm complaining it says in the conditions that we have to pay off the debt on my husbands barclaycard before completion but we paid it off back in February so that might have been why they were going on about the affordability I am one very happy Kazza today :T:T

Lilly_RW

Shoey1610 wrote: »

Can't fault speed now as agreed yesterday afternoon, valuation this morning and offered this afternoon! Phew! Waiting for DH to get home as he is the one in contact with broker and he is in a meeting, but can anyone reassure me that if the offer is in the post then there were no problems with the valuation or the broker would have said? The offer isn't going to arrive being 20k less or something?

I'm such a worrier!

I'm in exactly the same boat! Our valuation took place on Monday gone and the Mortgage was offered on the same day. We're waiting for the paperwork too. I rang our broker who said that he hadn't received the survey results which usually means there was nothing wrong with the property and the offer will stand as per previously agreed.

I'm really hoping this is the case! Absolutely itching to get in there before easter weekend so we can start making it our own Hope you hear back from your valuation soon!

joolesw1972

joolesw1972 wrote: »

Hope it goes a bit more smoothly from now on!
28/2/14 completed on my old house (not living in)
8/3/14 looked around two houses - 1 we really liked
10/3/14 contacted broker and got OIP
12/3/14 looked around another house but didn't like it as much
15/3/14 second visit to look more critically, took friend who is civil engineer and checked it over structurally for us
17/3/14 offer made and rejected, 2nd offer accepted
18/3/14 contacted broker to inform and for full application to be made
18/3/14 ID & OIP taken to EA
19/3/14 offers ending at the woolich so computer system not working/funds not available
20/3/14 unable to find partners name
21/3/14 turns out they'd put mrs not ms?! not sure if it will be done today
24/3/14 full application in finally and told we've passed the credit check (I assume that's a good thing) and requesting proof of deposit and 3 months bank statements, email back to check if printed off ones are acceptable
24/3/14 ID, bank statements, contract & £300 etc sent back to solicitor
25/3/14 broker got back, yes printed ones are ok - will do tonight, not requested ID

Anyone have experience of how long to wait with woolich?
Broker mentioned 24 days but my partner wasn't sure if that was working days?

UPDATE:
31/03/14 Broker said documents would be looked at in 5 working days so we should hear something by Friday
03/04/14 Broker emailed to say they hadn't looked at the documents and probably won't until Tuesday
Hate all this waiting

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.
31/3 - Surveyor visits property.

03/03 - Survey comes through the door. A few hours later Broker gets a call saying its approved and the offer is in the post in the next few days. :T

Just need the solicitors to do their thing, hope to move in May half term.

brenda10

Kazza_Monkey wrote: »

Well the mortgage offer arrived today but weirdly it was for the full amount not that I'm complaining it says in the conditions that we have to pay off the debt on my husbands barclaycard before completion but we paid it off back in February so that might have been why they were going on about the affordability I am one very happy Kazza today :T:T

That is great news, so glad you had enough money to add to the shortfall amount. Congratulations.
Thanks for all your help re boilers info.
Our new combi boiler installation should work out a little cheaper as is just being replaced in kitchen where old one will be removed from....hopefully, we will be getting quotes from reliable plumbers who have done work...we go for word of mouth people who have done a good job, we still waiting for DIP from Santander/Abbey.

robdevil

robdevil wrote: »

UPDATE!

18/01/14 Got AIP from Halifax
21/01/14 Found House
24/01/14 House Viewing
25/01/14 First offer rejected, next offer sent
27/01/14 Decided to go with asking price and accepted(love house so much)
28/01/14 EA visited and Solicitors Instructed
01/02/14 Full Application submitted and Valuation booked(Halifax)
11/02/14 Valuation OK
20/02/14 Mortgage offer received
It was very quiet since MO received. Yesterday My solicitor said they still awaiting mortgage offer pack from halifax. !!!!!!?!!! Exchange planned for Monday but will be delayed without offer. Im trying to chase Halifax now.
24/03/2014 Exchanged and looking to complete on Friday 28th:beer::beer:

Sorry for delay. Completed on Friday 28th.:j
Good luck to everyone!

HollyCR

My Sister and I are both nervously awaiting a decision from Nationwide and would really appreciate any advice / feedback on similar situations.

Our story so far...

25th Mar:
DIP received from Nationwide (they could potentially lend us £161k)

1st April:
First viewing
Made an offer that evening for asking price (£175k)

2nd April:
Offer accepted
Full Mortgage Application submitted

3rd April:
Texts from Nationwide:
1) We are pleased to advise that your mortgage application has been received. We will be in touch again as your application progresses.
2) We are pleased to advise you that the product(s) have been reserved for our mortgage application. We will be in touch again shortly.
MB sent first class letter to Solicitors & Estate Agents
MB asked us to provide him with March 2014 payslip (Me) and 6 months bank statements originals (Oct '13 - Mar '14) (Me) and Oct '13 & Mar '14 payslip (Sister) and March bank statement for Lloyds Classic Account (Sister)

4th April:
House listed as 'Sold subject to contract' on website
Product & Valuation Fees (£304) have been earmarked in my bank


We have a gifted deposit of £25k (from our Grandparents) and we are hoping to lend £150k over 30 years on a 2 year fixed rate of 4.19%. Our salaries are currently £35,300 collectively however my Sisters salary will increase by £1k as of April 1st and provided she passes her Accountancy exams in June it will increase by another £1k

Now they have asked us for 6 months bank statements we are rather concerned as my Sister is in her overdraft most of the time and also went over her overdraft limit by £25 at the end of February '14 and incurred a £10 charge which she paid as soon as she realised (next day). This is the first time in years that this has happened and really is Sod's law! Are Nationwide likely to write us off straight away? Or will they take into account that this was a one off and also consider my (relatively good) account conduct and base their decision on an overall basis? I already feel like a big stress ball so the thought of not knowing for a couple of days (at least) is killing me!

Thanks for reading!

otaki04

Just for anyone curious, our AIP went through 20th March for an 85% LTV mortgage (Scotland) and then as follows:

28th March Viewed property
31st March Offer submitted
1st April offer Declined but 2nd Offer submitted and accepted.
2nd April full application submitted
4th April clarification sought on OH's pension contributions
7th April Application approved and offer issued.

jonic81

Hi guys... This is all new to us so any advice would be great.

FTB.
We have an AIP with Halifax for an 85% LTV mortgage through a broker.
This was agreed at the beginning of March.
We had an offer on a property accepted on 18th March. Our broker has possibly every form of paperwork from us.
Passports
Driving Licenses
Birth Certs
Payslips
Bank Statements
Proof of deposit
All credit declared etc
We paid our valuation fee last Wednesday 02/04/2014 and have since heard nothing.
What experiences do people have in timescales for this etc?..

Thanks