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

Eviesmummy

I wish I'd found this forum before - why stress alone when you can stress with company!
My situation is a bit different to the norm in that our seller approached us! My parents need to sell their house quickly and they knew we were saving for a deposit to start house hunting. So they suggested we buy their house at below market value, using the extra equity as the deposit - A concessionary purchase.
Here's our time line to date:

19th March - Parents broached Initial idea
25th March - AIP with Santander
26th March - Full application and ID/paperwork etc. submitted
3rd April - Extra information requested and supplied
15th April - Mortgage agreed subject to valuation
16th March - Valuation booked for 22nd April (damn you Easter bank holiday!!!)

I'm pretty worried by the valuation because the house hasn't actually been valued, not even by an estate agent. Prices for similar properties currently for sale on the same estate are between 2-10,000 more than we've guestimated, (one in the next street has sold this week for £5000 more) but it really is a guess so I'm very nervous for next Tuesday!

Countrycat_2

Hello all,

I've been reading, with great interest, everybody's posts for the last few weeks and thought I would join in the waiting queue...

01/04 - Viewed property, no chain - (Had AIP from Santander - 95% LTV HTB)
02/04 - Placed offer - accepted!
03/04 - Rang Santander to progress application, was told two week wait for telephone appointment. So managed to book earlier in-branch appointment.
08/04 - Had in-branch appointment - computer said no :mad: but could be possible if I had 15% deposit. Decided to try elsewhere.
09/04 - Tried Skipton BS - 90% LTV - Passed initial credit check & affordability checks. Following this I needed to make telephone appointment with Mortgage advisor to progress with application. Solicitors instructed.
16/04 - Telephone appointment with Skipton BS complete, full application now submitted (with a lot more docs than they requested - just in case!). Await decision from underwriters, but could take another 10 days for mortgage offer.

I'm so nervous!! :eek:

I just wondered whether I should be contacting the estate agent to tell them what's happening?

Eviesmummy

Countrycat wrote: »

I just wondered whether I should be contacting the estate agent to tell them what's happening?

It might be worth a call, just to put your buyers minds at rest that things are progressing. Nothing worse than having to wait and not know what is happening. As we all can testify lol

BeauLiLuLu

Eviesmummy wrote: »

I wish I'd found this forum before - why stress alone when you can stress with company!

:beer:

25th March - AIP with Santander
26th March - Full application and ID/paperwork etc. submitted
3rd April - Extra information requested and supplied
15th April - Mortgage agreed subject to valuation
16th March - Valuation booked for 22nd April (damn you Easter bank holiday!!!)

This seems quick compared to my case with Santander! Congrats!
Don't think I'm likely to hear a decision until next week (again cursing the BH!) - and my application went in before yours

Claire_A87

Lilly_RW wrote: »

Yay! Gratz Clare So very pleased for you, you can relax a bit more now!

I've just found out that we have 'Complex legal issues' on our file relating to a Village Green that we aren't even physically connected to What on earth does that mean? Aside from no exchange/completion date in sight for the time being

Thanks Lilly

I've heard villages can be notoriously tricky. Has your solicitor not explained what the issues are? Maybe there's old covenants or something? Definitely dig deeper, don't let them fob you off with the word complex hoping you won't want to know! Fingers crossed for you.

Eviesmummy

BeauLiLuLu wrote: »

:beer:


This seems quick compared to my case with Santander! Congrats!
Don't think I'm likely to hear a decision until next week (again cursing the BH!) - and my application went in before yours

I scrolled back a few pages, but I don't see your timeline posted, have they requested lots of additional paperwork that migh be holding things up?
I have to say I was pretty miffed when I got the call asking for extra info for my application. Given that I'm purchasing off my parents, who's house is in joint names, you'd think that our MA would have included BOTH my Mother's AND Father's name on the application. Duh!

BeauLiLuLu

Eviesmummy wrote: »

I scrolled back a few pages, but I don't see your timeline posted, have they requested lots of additional paperwork that migh be holding things up?
I have to say I was pretty miffed when I got the call asking for extra info for my application. Given that I'm purchasing off my parents, who's house is in joint names, you'd think that our MA would have included BOTH my Mother's AND Father's name on the application. Duh!

The docs requested, I sent with my initial application, but they just decided not to submit them at the time. Then sat on it for 10 days before asking me to re-submit them

Sometimes I think things would have been easier if I'd have just applied directly!

Eviesmummy

BeauLiLuLu wrote: »

The docs requested, I sent with my initial application, but they just decided not to submit them at the time. Then sat on it for 10 days before asking me to re-submit them

Sometimes I think things would have been easier if I'd have just applied directly!

Oh no!:( That is disapointing:( I hope that your case gets looked at very soon and that they have everything to proceed, it seems that the initial wait to be processed is the longest bit. Keeping my fingers crossed for you.

BeauLiLuLu

Eviesmummy wrote: »

Oh no!:( That is disapointing:( I hope that your case gets looked at very soon and that they have everything to proceed, it seems that the initial wait to be processed is the longest bit. Keeping my fingers crossed for you.

Thank-you :beer:

Alex_88

Alex_88 wrote: »

I can now join this discussion!
24/2 AIP given for LLoyds Local Lend a Hand Scheme
10/3 offer made on house after 2 viewings, offer accepted same day!
19/3 went in to branch to do full application, application refered to underwriters due to notice of correction on partners credit file (to do with a linked address thats in dispute with EE)
21/3 MA phones to say underwriters have OK'd it, so can proceed with application. Valuation instructed.

Next step, need to open lloyds account as part of their terms and then need to arrange another appointment to go through the rest of the application (cant do this until week commencing 31st March as MA is out of office next week!)

So we got a phone call on 29th March saying we have the offer but it will take 2-3 weeks to be sent out. Its nearly 3 weeks and we are STILL waiting for it! Heard from MA last week trying to sell us buildings insurance and she said our offer is currently with the packaging department and we should recieve it early this week (well that hasn't happened) Tried ringing the MA today and she's on A/L until the 28th!

Anyone else had to wait this long?? I'm not a very patient person