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

Saturnsky

Just heard from our broker that we have a formal offer and should get a copy tomorrow by email!!!' I'm soooooo happy!!!!!!

jandaz

valuation done today just had formal offer so 9 working days application to formal offer well done Santander searches instructed looking to complete 31 July fast and excellent service

jlf_85

My valuation is taking place today. Hopefully will find out next week...

bedfordshireboy

mortgage offer received in post today
date of application was 23rd May - took a while!
Proposed exchange 25th July.. solicitors better get a move on!

MadScientist_2

I've read hours and hours worth of this forum in the past 2 days, about 50 pages worth! Finally came to the end, and decided to add my own details.

April 2014 - Found a fantastic 1 bed flat. FTB, on my own, working full time. I have been tracking my credit reports via Experian, Equifax and Call Credit for a year or so now. Nothing major on their reports, 3 missed payments from several years ago, but fairly low credit score due to never really having credit. No debts, and I took out 2 credit cards a few years ago in an attempt to raise my credit score. these have been paid in full every month where possible, and when not in full, always over 50% of the balance. Neither have ever had any late payments.

Offer accepted, £62,000. I went direct to Natwest, instant AIP for 95%. Property price in question is at the lower end of what I could borrow, based on my finances, so I saw that as a huge positive.

Full application face to face with a Natwest MA - mortgage declined. Was not in a position to up my deposit to 10%, so I had to walk away with a very sad face indeed. I didn't realise how gutted I would be. The MA told me the 'computer' hadn't kicked up anything bad on my credit report, which was a positive, but it had said my score was too low. So off I go, tail between my legs, to try and raise my score further.

June 2014 - Since April I have had a sudden 8% payrise, a bonus, and suddenly I have enough for a 10% deposit. Property I fell in love with is still on the market. I take advice from family members and appoint a broker, who I have to say has so far been fantastic, excellent communication. I meet with broker and explain my situation. He reassures me he will do everything he can to help (he's also a friend of the family, so I have much more faith!) and within a day he emails me to say Natwest have approved a DIP. I know now from much research than an AIP and DIP are much the same thing, but I do wish the same company wouldn't refer to it by two different names!

Now I have to admit, at this point, I was a little annoyed that the broker had tried with Natwest, knowing that only a few months ago that had declined me. :mad: I can't help but think I will yet again be declined, and he'll have to try elsewhere, wasting not only my time, but his own.

Given my fears, my broker went away and spoke to his 'colleague' at Natwest, who reassured him that with a 10% deposit, I should be absolutely fine and they see no hurdles whatsoever. So, on my brokers advice, I make a SECOND offer on the same property, although lower to begin with, which was declined, but my original offer amount was accepted again. Broker advises me he'll be with me in a few days time to sign paperwork, at which point I'm reluctant to get excited, but am a little more hopeful. To make matters worse, the EA is a rather impatient man who's demanding every day the status of where I'm at in the process. The broker has been in contact with the EA, so he's aware I'm waiting on decisions, but still he's badgering me with emails every single day, even though I've promised to let him know if I hear ANYTHING further.

07/07 - Upon meeting with the broker, I give copies of 3 months wage slips, 3 months bank statements, proof of address, proof of ID, proof of deposit. I sign paperwork to commit to a full mortgage application being carried out. Now I wait. He also took debit card details for the valuation fee, but advised me this wouldn't be taken from my account unless my application is accepted.

Am I right in thinking I shouldn't feel too silly worrying so much when my broker is sending my application to a bank that has already refused me? People I speak to seem to think that because it's via a broker, and documents will be sent to underwriters, I stand a better chance. During my original Natwest mortgage application done without a broker back in April, they didn't ask to see any documents, even though I'd taken them along with me just in case.

I apologise for the length of this, I wanted to tell the full story and to be honest just getting it out of my head has helped a little! I'm literally too scared to even discuss it with anyone in case it all goes wrong, only one close friend and then my family know what's happening. It's almost like I feel like I've failed somehow if yet again it gets declined

sam09_2

Mortgage offer made!!!!!! My full mortgage offer is in the post!!!

TheTravellingTiffin

TheTravellingTiffin wrote: »

Hi all, by way of update, had the second meeting with HSBC. Mortgage documents all signed up and offer is apparently in the post (albeit subject to valuation).

An intial sigh of relief but still a way to go to get this over the line in 3 weeks.

Good luck all!

Countrywide instructed to do the valuation. Fee paid for homebuyers. Just really hoping there isn't a LOW valuation!

desperate_times

Yes be careful. Seems be quite a lot of down valuations at the moment.

LauraBee48

I'm probably joining this thread a bit early but I'm so stressed, I think it's a good idea to get it all out!

8/7/2014 - Broker informed us we have been turned down by Halifax due to my low credit score (due to me being stupid in the past. I have a handle on it now. My partner's credit score is immaculate). Recommended we try Precise as they are known to help people in our situation. We did a LOT of research on them and the main complaint seems to be they have a really slow turn around. But we've decided to give it a shot and told the broker to go ahead and see if we can get a DIP. Still waiting to hear back.

The waiting is killing me, I'm not sleeping well and I feel like my jaw is constantly clenched! Hopefully we'll find out today, fingers crossed.

seanjohnson88

- 5th June DIP
- 7th Offer accepted on Property
- 9th - Seller dies
- 11th- Probate being (2 week delay)
- 24th sent all documents ect
- 24th Underwriters ok
- 25th Final underwriting checks to be done
- Solicitors state they are running contracts alongside probate.
- 27th - Was told the mortgage offer could take a couple of weeks
- 10th July - Still waiting to hear anything from Aldermore

Please alongside this, found out my mom had cancer in June, along with the seller killing himself just 3 days after accepting our offer. Been a real ride. And really hope this all goes well. I must state though that Aldermore up to now have been very very good, and quite quick with all my questions.

Thanks