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

m_13

We had our AIP on 28th May and since then we've been trying to get a mortgage valuation booked on our remortgage. We've been on holiday for two weeks and chased over and over again only to find out that the agent (for the BTL flat we are remortgaging) had left it to the tenant to contact the valuation surveyor and the tenant hadn't bothered. Today we came back to loads of messages from the valuation surveyor asking us to get in touch. Turns out that they gave the valuation back last Friday when nobody got in touch.

After lots of chasing today we've got a survey date of 3rd July. Let's hope it goes ahead.

alright_dave

Hi, I suppose i'm in the right area for this post.

Had an offer accepted on house in March, Still waiting for the bank to approve the application, they haven't valued it or anything.

I'm stuck in a circle of them wanting info, for example, 4 weeks ago I was asked to take in payslips for the previous month, 2 weeks ago, I was asked to provide bank statement for that month, Friday, I was asked again for the previous 4 weeks payslip. This has been going on for almost 2 months.

I have to say it's very frustrating, and once my fixed rate period ends, I will thankfully never have the pleasure of dealing with the useless Santander ever again.

ELToro

Following our mortgage application on the 4th June

4th June App made - requested Wage slips
10th June - requested bank statement (1 month)
11th June - Valuation Completed
12th June - Valuation Satisfactory

Delay our end on the bank statements

23rd June - Bank Statements faxed across
24th June - Full mortgage offer accepted by Nationwide

Very happy with the process, the horror stories of MMR didnt come into play with us with no phone interview, possibly due to being an existing customer with them? We are now waiting for the Mortgage offer to be sent to our solictor, our house will not be complete until November.

Without us delaying the procedure I believe this would of took 10 days to complete.

lawlie

Hi guys,

Details as follows:

17/06 - offer accepted
20/06 - application made and credit check with Woolwich passed
23/06 - valuation fee taken

Just waiting for the underwriters to do their work now... the Woolwich intermediary website suggests they are on a 6 working day timescale now so optimistically hoping to hear back on Thurs or Fri...

Bluebunny

Bluebunny wrote: »

6 May - Offer accepted on house
13 June - DIP from Nationwide
16 June - Valuation booked for 17 June
17 June - Valuation completed and satisfactory
17 June - futher information requested and sent to broker........

24 June - Solicitors confirmed searches Ok, posting our contracts today

just waiting on mortgage co now - hopefully shouldnt be too much longer, Nationwide seem to be pretty speedy
Good luck everyone xx

ReformedShopper

25/01/2014 - Reserve property (pay £200)
30/01/2014 - Obtain DIP
23/05/2014 - Finally receive memorandum of Sale from HA
27/05/2014 - Engage broker as it looks like full app will be subject to new MMR rules
28/05/2014 - Broker speaks to BDM and Specialist loans team at Lender who say they will lend up to 13K less than original DIP (I hate MMR with a passion!)
29/05/2014 - Instruct Solictor and pay £350 deposit for fees
02/06/2014 - Family relative agrees to gift me 10K
09/06/2014 - Full app submitted
11/06/2014 - Valuation Instructed
12/06/2014 - Valuation Received
13/06/2014 - Chase broker, and he says it's gone to underwriting
19/06/2014 - Chase broker again, losing will to live and tearing hair out
20/06/2014 - Lender gets in touch requiring more information and latest bank slip showing salary credit, and also advising case is failing on income and affordability, even with extra 10K?!
23/06/2014 - Submit required documentation and suggest to broker that he enquire about fixing mortgage to 5 years to see if that will bypass lenders stress test.:(

noidles

Just an update really. Actually turns out my boyfriend was wrong. I phoned our broker last night, and it's basically because they'd asked us on the DIP to supply 12 months proof of rental payment, which we did using bank statements, but my boyfriend hadn't supplied every single page of the statements, just the page with the rental payment being taken out.

I think that's fair enough really. So it's made me worry a little less. Still haven't had word on when we'll have the valuation/survey. But I guess Nationwide did only receive the full application on Thursday, so it's not been too slow at all so far.

lady_k_3

Newish member and joining the 'waiting for mortgage decision' queue.

My timeline is as follows:

25/05/14 - First viewing of house when they had an open house although house slightly above our budget
02/06/14 - Decision in Principle
03/06/14 - Second viewing following reduction in asking price
04/06/14 - Offer put in and agreed to meet in the middle with seller
09/06/14 - Full application via L& C
10/06/14 - Email text from woolwich/Barclays to confirm application received
12/06/14 - Further documents requested by lender
19/06/14 - On line tracker indicate application has been reviewed by underwriter and valuation instructed .
24/06/14 - Text from e-surv stating valuation booked in for 25/06/14 morning


All gone well so far

lady_k_3

lawlie wrote: »

Hi guys,

Details as follows:

17/06 - offer accepted
20/06 - application made and credit check with Woolwich passed
23/06 - valuation fee taken

Just waiting for the underwriters to do their work now... the Woolwich intermediary website suggests they are on a 6 working day timescale now so optimistically hoping to hear back on Thurs or Fri...

Hi Lawlie, i am using Woolwich too. Have you used their tracker system as I find it very helpful. Also contact them to check progress as my valuation fee was taken out today and valuation was instructed last Thursday but I only got e-surv text message today. Their timescale is really good, my application was slightly delayed as I took some time to send original bank statements requested as I was two days away from getting the latest bank statement so thought I might as well wait for them.

loubylou1980

becbec1982 wrote: »

I want to join in too please! The anxiety is driving me mad so need to share. OH keeps telling me to stop getting stressed which of course does the opposite!

Can't remember the exact dates of finding the house, offers etc, but our mortgage application was submitted by our broker to Natwest on 10/06. Heard on Monday 16th that the mortgage had been approved subject to valuation.

Valuation carried out on Thursday 19th June. Broker said that Natwest should have hopefully received the valuation report on Friday so will then be a few days to process. I know some folk have found it takes a day or two, some longer.

Has anyone else had experience of this stage with Natwest and how long it takes from valuation to formal offer?

Hi Bec,

I'm going through Natwest too, through broker. My valuation was done on Tuesday 17th and I received mortgage offer in the post on Friday 20th. I rang up Natwest direct to check on progress and they were really helpful. Good luck!