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

19ardagh70

gimgems wrote: »

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.

Well done..its a great feeling :T

Veon

Veon wrote: »

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.

Update. Just called Broker, Woolwich are now working on a 10 day turnaround. Expectpto hear something at the end of the week. Annoyance does not begin to describe what I am feeling.

FelinePrincess

FelinePrincess wrote: »

Update:

17/02 AIP
30/04 approx - price agreed on house from family member
17/05 submitted full application with principality - through broker - would have done it sooner but had 2 wait for partners pay slips which he only gets quarterly
18/05 valuation booked for tomorrow!

22/05 broker requesting additional documents
27/05 broker rang to say its approved!!!

All done within 5 working days!!!!

So happy it's been approved, spend the weekend making myself miserable by convincing ourselves we would be declined, we wouldn't be able to get a mortgage with any other lenders and we'd lose the house! Will be auctioning searches tomorrow - hope everything continues to go quickly and smoothly!

Lou24

Once they have said yes
Can it get taken off you.?

stressfulmay

HOMESWEETHOME wrote: »

it must be with underwriters/

They must have heard me moaning about them !!! Broker phoned this afternoon and said they have now confirmed application successful. Now just have to wait for valuation and offer in post.


Yes it was with the underwriters from about 2 weeks in, so not sure what took so long but happy now.

spidereyes

Lou24 wrote: »

Once they have said yes
Can it get taken off you.?

Technically yes, is there a particular reason you are asking?

Most common reason offer gets pulled is due to undeclared gifted deposits (as in you didnt declare on aaplication but solicitor has been informed, once solicitor has been told it is their duty to advise lender)

Lou24

Im paronoid that it get pulled up at last min
Night mares that day get keys - get call say no mortgage

spidereyes

Lou24 wrote: »

Im paronoid that it get pulled up at last min
Night mares that day get keys - get call say no mortgage

It wouldn't just be pulled for no reason, only reason it would be pulled (and it is unlikely) would be if you suddenly had another strain if credit appear.

Solicitors (most at least) get confirmation of release of funds from your mortgage lender before they proceed to exchange, so should there actually be a problem you would know about it before you were legally tied in with the purchase

Harman83

New to this thread but really interesting reading everyones posts and definitely appropriate to our situation.

We've placed a reservation on new build, sold our house, mortgage agreement in principle done with natwest, using help to buy equity loan scheme.....which has been approved for the loan.

Broker suggests waiting before applying for the full mortgage application as build date is not estimated for completion until nov / dec and apparently we only have mortgage for 6 months 2 weeks. So wants to wait a couple of agonising weeks before submitting.

Just like everyone else I am so nervous as it all means so much. I know in my mind that the house is more than affordable and we are using 30% less of the mortgage that we were offered at AIP stage.

I keep contacting the broker and asking about bits and pieces (conscious im really annoying him) ......he states that as we have passed credit checks with natwest and as long as everything we disclosed is correct then shouldnt be a problem. But I just know how anything can throw a spanner in the works!!!

Never want to go through this again......

HOMESWEETHOME

stressfulmay wrote: »

They must have heard me moaning about them !!! Broker phoned this afternoon and said they have now confirmed application successful. Now just have to wait for valuation and offer in post.


Yes it was with the underwriters from about 2 weeks in, so not sure what took so long but happy now.

Congrats

Its been 5 working days for me since it went to the underwriters with santander and nothing even tho i read on here how some people have been getting approved status after 48/72hrs