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

ukbrockest

Well after been through the mill over the last few weeks!

Application made to Nat West 27/2

Valuation done 31/3

However the house has been devalued by £5k

The offer is imminent but I am going to be short £5k - looks like this is going to fall through as can't see the Vendors dropping from £95k to £90k - however everything ready to go on my side!

EA says the property should reach £97-98k - but they would say that wouldn't they!

GolfFoxtrot

TrixA wrote: »

HSBC are so hopeless. Our seller is threatening to pull out because it's been almost three weeks since the offer was accepted and we are yet to schedule the valuation. The delay is solely due to the bank.

We were in a similar situation a few weeks ago, we asked the building society to schedule the valuation at our own risk as our mortgage application hadn't been underwritten yet. It paid off (fingers crossed) and our offer was made today.

Banks / building societies all seem to be rather slow at the moment.

GolfFoxtrot

another update and almost there
12th Feb - offer accepted on house
25th Feb - Broker AIP with skipton (previous AIP wit different lender but they upped the interest rate)
2nd March - Broker submits full app with skipton
5th March - All documents sent from broker to skipton
13th March - Skipton ask for outstanding student loans balance via broker, provided info to them the same day.
17th March - call skipton directly for an update to say it will be another 4-5 working days before they can look at our documents
18th March - ask for valuation to be progressed whilst they look at our application
19th march - valuation can be completed on the 29th match
20th march - valuation completed
21st March - good news this morning hear back that we've been approved for the mortgage after our application :j
21st March - the afternoon brings some slight bad news. They've valued the house at 5k (2%) under what we've offered because of the condition of the non attached garage. We also need to arrange a full electrical and damp proof report.
28th March - Receive the damp and electrical report showing approx 2k worth of work needs to be carried out.
29th March - reports sent to mortgage company and given the usual answer of "it'll be 5 working days before we look at your documents". So yet more waiting
7th April - Today is Monday and we were told on Thursday that our updated valuation would be looked at on Friday. When we phone Skipton they say it'll be the back end of the week before they look at it. We have a moan to our MA and Skipton.
8th April - Mortgage offer confirmed and solicitors and us should have what we need by the end of the week :j

sirich99

sirich99 wrote: »

*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

*Another Update*

After a frustrating period of repeatedly taking documents into branch and getting them 'certified' we eventually got our broker to re-send these yesterday.

We were told by Natwest on several occasions that all our paperwork and documentation had been accepted and approved only to be told the next time we rang that they either a) hadnt received it or b) it wasnt acceptable.

The most frustrating part came on Monday when I was told that my passport and driving licence had not be certified correctly in branch ( even though on Friday we were told that nothing was outstanding and it had all been accepted)

Our valuation took place on Monday, so gave Natwest a call yesterday to confirm they had all our paperwork from our broker and to get an update on valuation. I was told to call back today and they would be able to confirm how Valuation went.

I have just called and have been told all paperwork is on the system, our valuation is on the system but it won't be looked at until Monday. Sooooo frustrating.

Does this seem right as I am noticing in other posts on Natwest that offers are being posted out the day after valuations or the application is atleast being passed to the offers team.

After a positive start I am slowly losing faith with Natwest....staff are all polite and seem helpful but we are continually being given different info and messages.

Any advice on how long we should be waiting for would be great????

ccbrowning

ccbrowning wrote: »

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).

Leeds is very slow! Chased today and it's moving slowly in the queue - expected that valuation will be instructed by the end of the week.

ukbrockest

sirich99 wrote: »

*Another Update*

After a frustrating period of repeatedly taking documents into branch and getting them 'certified' we eventually got our broker to re-send these yesterday.

We were told by Natwest on several occasions that all our paperwork and documentation had been accepted and approved only to be told the next time we rang that they either a) hadnt received it or b) it wasnt acceptable.

The most frustrating part came on Monday when I was told that my passport and driving licence had not be certified correctly in branch ( even though on Friday we were told that nothing was outstanding and it had all been accepted)

Our valuation took place on Monday, so gave Natwest a call yesterday to confirm they had all our paperwork from our broker and to get an update on valuation. I was told to call back today and they would be able to confirm how Valuation went.

I have just called and have been told all paperwork is on the system, our valuation is on the system but it won't be looked at until Monday. Sooooo frustrating.

Does this seem right as I am noticing in other posts on Natwest that offers are being posted out the day after valuations or the application is atleast being passed to the offers team.

After a positive start I am slowly losing faith with Natwest....staff are all polite and seem helpful but we are continually being given different info and messages.

Any advice on how long we should be waiting for would be great????

Personally my experience with Nat West has not been good - it took them a week after valuation that the property had been de valued by £5k which I have not got, so at the moment trying to negotiate with vendor!

Also kept being asked for various things, then each time went to back of queue. Application put in 27 Feb and still not had mortgage offer - not sure if the offer will be any good as I will be short £5k

chriskellym86

ccbrowning wrote: »

Leeds is very slow! Chased today and it's moving slowly in the queue - expected that valuation will be instructed by the end of the week.

abby/santander is very slow too! all banks must have a rush on be patient, im trying to!

TrixA

I called the bank again yesterday afternoon and was told our case has been allocated to a credit officer who was due to call me - she tried to put me through to this person but his line was busy so she said she would leave an "urgent message" for him to call me back. Of course this didn't happen and we are still waiting to hear anything - submitted full application on 28 March. I'm trying to be patient, but am finding it quite stressful. Think our seller will pull out if we don't get clear progress by the end of the week.

TrixA

After calling HSBC (again!) I was able to speak to the underwriter dealing with our application who said he is going to approve our mortgage subject to valuation. He said they just need one additional address verification document, which I have submitted. Fingers crossed!

BeauLiLuLu

chriskellym86 wrote: »

abby/santander is very slow too! all banks must have a rush on be patient, im trying to!

Patience is a trait I'm am gradually loosing!!!