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

sankhara

snowscreamer wrote: »

I should probably add that this was a few weeks before the new MMR rules came in. But we were asked to provide a monthly budget and some affordability checks were done so they may have been working to the new rules already.

Interesting.
We weren't asked any of that yet but had to provide 3 months bank statements as usual.

I think we will probably be asked more q's but so far just pushing our advisor to chase Woolwich. We applied with them as we have been banking with them for a while and MA thought it would be better for our chances as its not a straightforward case

snowscreamer

sankhara wrote: »

Awesome!!
Thank you for the update.
Hows the process going for you now?
Have you completed?

We moved in just over three months ago (no chain, completion soon after exchange) and we absolutely love our new home!! We also somehow managed to lock our fixed rate (2 years) in at the absolute lowest point of interest rates - when we did the AIP we were offered 1.89%, when we signed on the dotted line the rate had dropped to 1.85% and I see it's since gone up to 2.34%!

sankhara

snowscreamer wrote: »

We moved in just over three months ago (no chain, completion soon after exchange) and we absolutely love our new home!! We also somehow managed to lock our fixed rate (2 years) in at the absolute lowest point of interest rates - when we did the AIP we were offered 1.89%, when we signed on the dotted line the rate had dropped to 1.85% and I see it's since gone up to 2.34%!

Congrats! Happy to hear.

Yes, we are looking at a rate of 2.19%.

[Deleted User]

noidles wrote: »

GAAAH! My valuation happened Friday morning, and I've still heard nothing from Nationwide. How long does it normally take?

I got 2 separate messages from nationwide: satisfactory valuation report received, and mortgage offered (both the next working day). I wasn't sure whether the first one meant that the valuation was enough, or only that they had got it!

IDK if you can read anything into your delay or not, it might be the surveyors - mine was countrywide who said they would send the valuation next day (which they did) and get me my homebuyers report in 5 working days (it actually took 9 - so maybe they are getting overloaded just now?).

pembssurf

Thought id join the stress club. Myself and my wife applied for a mortgage for a new build house through a paid for (up-front) broker in London about 4 weeks ago now. After the broker completing a credit score to give an AIP. The reason we went for a specialist broker was at the time our circumstances were not usual. My wife is a Brazilian national who is a full time nurse but has ILR now (but did not at the time) and can also not register on electoral roll. I myself have a well paid job but is on a seasonal basis (8 months per year) with 6 year+ work history but not guarantee of work as such. Also with a min 20% deposit. Both our credit scores were really good which surprised me as my wife has only been living here for 2 years, but we have been working on her credit history from day one. Cut a long story short he found a couple of lenders who in theory were ready to lend with us. Everything proceeded pretty smooth apart from estate agents who have been a nightmare to deal with from day 1. We passed initial under-writing with the only query being a verification of address as my wifes surname is slightly different being continental, so we last week sent off drivers licence. Got informed today via broker that natwest were soon to instruct surveyors and then 5 hours later i had a text from the estate agents saying the valuation was carried out earlier today (fast???). So now we are playing the waiting game, anyone have any idea how fast it is likely to be from now to get the all clear? I'm guessing it has got to go back to the under-writers first, i am just very worried as it is taking some time and i am officially out of contract again come october. I have had a very stressful June already, i just hope July is not so bad as we had to just put a £1000 non-refundable deposit down on our house that only covers us for 28 days till exchange...GULP!!!!

welliesrgreat

Full application submitted for 85% LTV by MA to Principality BS on 7/7/2014

Advised today by MA that valuation will be carried out tomorrow and that my documents will be reviewed this week.

Is anyone else using Principality? Hopefully the fact that they're doing a valuation means that they are likely to make me an offer ... Fingers crossed!

Bluebunny

Bluebunny wrote: »

6 May - Offer accepted on house
[interim time direct application with YBS, but declined as they were not satisifed by our intention to reside....?!]
13 June - DIP from Nationwide & full app submitted
16 June - Valuation booked for 17 June
17 June - Valuation completed and satisfactory
17 June - futher information requested and sent to broker.
19 June - Broker confirmed receipt
23 June - Received our original paperwork back from broker
24 June - Solicitors confirmed searches OK, posting our contracts today
25 June (4.45 pm!!) - Broker confirms further info needed by Nationwide
26 June - info submitted
2 July - Broker confirms info submitted to Nationwide

Since the above, we were told by the broker that our application has been pulled for an audit but that this should be completed by close of play on 10th July, and we should hear something after that.

Nothing Friday, hubby got hold of broker on Monday who said out intent to reside letter was fine, but that they 'might' have an issue with proof of deposit. Bear in mind that we have now sent 4 bank statement to show our deposit so far?!

Yesterday hubby speaks to someone else at our broker, who confirms further information was submitted on 14th July (errrrrrr, what info!??!) and it will take Nationwide 2 working days to process

In the meantime, vendor wants to exchange by end of July (only the mortgage co holding this up now) we went with Nationwide because despite the slightly higher rates for longer fixes, their average turnaround time is 10 working days at the mo. We are nearing 5 weeks since application now, and I dont seem to be able to get a straight answer from the broker.

ARGH. thanks for listening all, congrats to those who have recently got their offers and good luck with exchange!

mai_taylor

mai_taylor wrote: »

Update -

28/06/2014 - MA takes all our ID and gets full application sent to Leeds.
12/07/2014 - After waiting two weeks Leeds have now offered us 10% less than we need, we're completly gutted. MA said it's because their rate is so good that they don't want too many 5% mortagages. It means we're looking at an extra £100 a month in payments.
14/07/2014 - MA is supposed to be running a DIP through with Halifax or Santander today. A month since we put the offer in and it feels like we've got nowhere. Now for the waiting again.

Full apllication in with Halifax today. Does anyone have any experience with Halifax?

daydreamweaver

daydreamweaver wrote: »

14 July: text from Barclay's to say the valuation has been instructed and they'll let us know the date.

16 July: Call from EA. Valuation and survey booked with Esurv for next Tuesday.

Bluebunny

Question to all here - from a very confused Bunny......

Following my above rant (sorry) I have had a Land Registry alert through that states that Nationwide have lodged an application on the property today we are buying. I may have this wrong, but I thought the applications were lodged after exchange in readiness for completion??

We havent even had our mortgage offer yet?!?
Can any one shed any light on this??