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

Wozza85

19ardagh70 wrote: »

They should be able to advise you. Are you in a chain ? That will make a difference to completion

We are not in a chain no, FTB's and the sellers are moving to a vacated house.

19ardagh70

Then your time frame is more than acceptable if searches are done.Our Mortgage in place. I found out last week that our sellers sol hasn't even sent the details to our solicitors, so no searches done yet ! I was advised it will take 4 weeks to complete. Sounds like all s running smoothly for you. Could be sooner than 4 weeks for you, if that's what you want.

19ardagh70

spidereyes wrote: »

It may vary from company to company but our standard practice is to work on file and get searches ordered etc (unless client doesnt want us to) without mortgage offer.

Usual practice as follows if its of any use to anyone whoses at early stages;

Receive clients instructions and payment on account
Receive memorandum of sale from EA
Request contracts from sellers sols
When contracts received order searches, whilst waiting search results raise initial enquiries on title and then contracts to clients for signature (some firms deal with signatures at the end though)
When searches in, review and if needed raise further enquiries on results
Deal with enquiries, sometimes some back and forth until all satisfied
Mortgage offer received - reviewed and reported on, mortgage deed for client to sign.
Once everything in place solicitors request deposit for exchange
Agree completion date in chain
Solicitors request mortgage monies and get confirmation of release of funds
Final searches carried out (bankruptcy search and os1)
Get client authority to exchange
Exchange takes place so everything is legally binding with completion set for an agreed date.
On completion day solicitors send over funds, sellers solicitors confirm reciept and then keys released - move in!

Obviously very generic breakdown but if anyone does want any guidance on process though let me know (pm if you like) and I will help where I can.

This may help you get an idea of where you/they are at:)

HOMESWEETHOME

stressfulmay wrote: »

Santander.. via broker, agreement in principal end of April, mortgage application end of April, apart from a few queries nothing heard.

So frustrated.

it must be with underwriters/

Bluebunny

Anyone have any experience of them?? Had our AIP last week, and submitted the full applicatin in branch on saturday, just wondering if anyone has used them recently??

usedtobeblue

Hi sorry to butt into this thread but i have put my full application in with Lloyds on Thursday 15 May and when i chased it up today they said it was with 'Quality for checking'! Does anyone know what that means? Ive had a survey etc carried out. Totally stressed out!:(

Veon

Hello, long time reader.

Thought its about time I shared my experience.

Timeline:

12/04/14 Visit a number of new builds.
13/04/14 Partner and I discuss finances and options. Settle on property we like using Equity loan from government.
19/04/14 Meeting with saledwoman at site. Go through details and register out interest.
21/04/14 Call broker and get an AIP with Nationwide.
24/0414 Next step face-to-face meeting with IFA. He clearly sets out all the details and we sign some paper work and IFA takes details in readiness to submit. Prior tot thid all requested document emailed over.
26/04/14 Reservation fee paid to builders (£500)
28/04/2014 Reservation form set to IFA.
29/04/14 Call from IFA to collect payment for Nationwide products. Same day two texts received from Nationwide confirming product purchase.
30/04/14 Text from Nationwide confirming valuation but date is blank in text. Call from broker on the same day requesting recent bank statements and my P60.
01/05/14 Email sent with requested documents. Nothing heard the following day.
06/05/14 Call broker for update. Confirm still waiting for my documents. Advused sent but discover that the wrong email address was used (mild grumble that it was not chased with me. Documents sent to correct address.
13/05/14 Approved subject to valuation.
16/04/14 Valuation carried out.
19/04/14 Valuation comes in 7k less than asking price. All other properties in the street sold for asking so builder does not lower price. Builder advises they will pay for the valuation through another lender as Nationwide contests house price.
20/05/14 Mortgage application moved to the Woolwich. AIP fine. Informed of 72hour turn around for review. Not helped by Bank holiday.
27/05/14 No update.

Getting frustrated.

19ardagh70

I don't know for certain, but maybe its what they do when the get the valuation survey back to make sure it is ok and there are no issues..they did it to us and then we got offer a few days later

ClareTeaches

Hello all!

I've posted bits and pieces about the issues we've had with buying our first home and getting the mortgage, but this is the first week we've been purely waiting for the mortgage offer, so all appendages are crossed!

And is there a prize for longest wait? If so, I might be in the running!

Timeline

28/3 - AIP at Halifax. They wouldn't give us a 95% mortgage, but said yes to 90%. Frantic times as we'd saved 6%, but luckily family could gift us the money to top it up to 10%. Seriously grateful!
5/4 - Full application done in branch.
10/4 - Valuation carried out.
Following week - We receive copy of valuation in the post saying they can't give a valuation figure without a survey to show the steel frame is in good condition. (Nonstandard construction property.) Vendor denies permission for invasive survey required.
22/4 - Permission granted.
25/4 - Survey booked for following week. (Took us a while to find a renderer to remove and replace sections of render to expose the steel.)
28/4 - Vendor Changes mind and denies permission again. EA speaks to them and they decide to consider it overnight. In the meantime, we have to cancel survey and renderer, as appointment was due to be the next day. Panic stations!
29/4 - Vendor agrees to invasive survey, as long as they can be present. Luckily structural engineer and renderer both have a slot that afternoon and vendor can make that time, too, so it's GO GO GO! Survey carried out that afternoon.
2/5 - Survey received - all clear, steels in good condition!
3/5 - Take survey to Halifax, who fax it to their valuer.
6/5 - Valuer contacts Halifax - happy with info on survey, now "just waiting for the asbestos report." Wait, what asbestos report?! None had been mentioned by valuer or Halifax previously!
12/5 - Asbestos survey carried out.
16/5 - Asbestos survey sent to Halifax and valuer in the morning.
20/5 - Chase as nothing heard and supposed to be 2 working day turnaround.
22/5 - Chase again - Halifax still have heard nothing.
23/5 - Partner calls valuers direct. They sent a reply to Halifax earlier in the week (but hadn't replied to our mortgage consultant's chase up emails, for some reason!)!!! Happy with asbestos survey and agree valuation at price we've offered (at last!). Email us valuation and I take a copy to Halifax branch. (Our consultant there still has received nothing directly from valuers at this point!)

So, there's the epic of our mortgage trials and tribulations so far! Mortgage consultant says they have a 72 hour turnaround at this point, so he hopes to get an offer it to us on Friday.

Everything is crossed, especially as we were initially declined by Nationwide on an AIP and the nature of the property is such that not a massive number of places will lend on it (nonstandard steel frame and concrete block construction (not on any defective lists, though!), with original asbestos cement tiled roof).

Trying deep breathing exercises!

Good luck to everyone else waiting!

gimgems

gimgems wrote: »

Well I rang Virgin up and they said that the wrong address is shown on some Help to Buy form we have had to complete (even though we are not doing Help to Buy). So another signed form needs to be sent to them. I vented my anger :mad: at how ridiculous it was to need this form when we are not doing Help to buy but because we are 90% LTV it needs to be completed. This is going to be scanned to them tomorrow but low and behold there's another bank holiday coming up (never disliked bank hols so much as what I have this year. Such an inconvenience;)) so probably gonna be another week before we get an offer. Grrrr
They have marked our application as urgent now because I told them we want to complete by the end of June. Fuming is not the word!!

27/05/2014
We have had our application accepted and offer is in the post!!! Whoop whoop!! MA emailed his copy of the offer. Its for the full amount and for the term we wanted. Sooo happy:beer::j.
I have also instructed the solicitor to start the searches. Was told they should be back by next Friday. Would like to complete on 27th June. Solicitor says it's still doable!!

Good luck to everyone else waiting. I'm sure it will be your turn soon.