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

Lisbong

I've found this thread really helpful in getting a feel for the application process and timescales so since we got our mortgage offer today I thought I'd add our timeline. We're FTBs looking for 95% mortgage. We've been saving with Nationwide save to buy but we're also open to considering other options if better deals could be had.

June 20th first offer on house
June 23rd improved offer accepted
June 25th appointment with EA to do ID check and show AIP
June 26th solicitors instructed and discussion with L&C broker. Initial plan to go with santander
June 27th broker reports that we will struggle on affordability with santander. Next best rate is Halifax but this is a worse rate than nationwide. Decide to go direct with Nationwide Save to Buy
June 28th affordability assessment in branch. Total waste of time as they just filled in the online calculator which we'd already done - only she wasn't trained to add things like child benefit or overtime and so the figure at the end was totally random! Made an appointment for full app anyway.
July 7th full app in branch. All approved. Paid fees etc
July 10th call from Nationwide MA. He made some errors in the submission and app has to be cancelled! Very apologetic but nothing he could do. Appointment made to restart app.
July 17th re-do app in branch with new MA. All approved again and assurances that they'd try to push it through as it had been held up due to their errors.
July 18th letter from surveyors with a form to complete and return
July 19th form scanned and emailed back
July 21st text from nationwide. Valuation booked for July 23rd
July 22nd call from original MA who cocked up. Had spoken to second MA. App progressing well. Further apologies for original error and offer to send us bottle of wine as a goodwill gesture!
July 23rd text to say valuation received.
July 24th text to say mortgage offered!

I must say that Nationwide have been great. Mistakes happen and it's how they're handled that counts. I think they've done all they could've done to remedy the error and more. From the second app to offer was 5 working days! Delighted.

pembssurf

MortgageVirgin wrote: »

Nervously awaiting our decision.


pembssurf, I hope you've had some good news today!

Update: Does not look like were getting our mortgage anytime this week or next week after another muck-up with document quality. (this is the 3rd time it has happened).Natwest keep asking us to provide the same certified documents of passports e.t.c. because apparently they are not legible. What i send the broker is everything in as a good a quality as the originals almost in colour too. Broker reckons its an issue with the way Natwest scan the documents. See email below:

Email from broker on wednesday:
Hi Adam,

We have encountered another issue with the I.D documents but hopefully I have now sorted it.

NatWest said this morning that the documents we supplied were not clear enough even though we posted them to NatWest to avoid faxing (they will not accept email copies). The problem is after they receive them they then scan them on to their system and then work from the scanned copy which of course is poorer than the posted copy!

I have spoken with our relationship manager who is dealing with it and hopefully this issue will be overcome shortly so we can move forward to offer.

Sorry for the further delay but we are doing all we can to get this finalised.

As soon as I have further news I will let you know.

.....

Just fed up of waiting now. Will be 6 weeks soon, and soon my wife is changing jobs in 4 weeks and i will be out of contract in october. If this happens its game over for us..Need to exchange and complete ASAP. Vendors estate agents are getting edgy now :mad:

pembssurf

This maybe of Interest to some of the background service system that brokers use when putting your application forwards.
google. mortgagestrategy and an article called fit for purpose....

(sorry new user so can't post links)

mai_taylor

Looks like it will be another long weekend of waiting. Halifax are as slow and useless as Leeds even though we were told they were quick. They haven't even given us the results of the valuation that was done last Thursday.

Taggo

Got my offer through yesterday from halifax. 5 working days it took so I was pretty happy with that. I guess it's just your luck if you get someone efficient dealing with you or not.

Now to chase up solicitor!

mai_taylor

mai_taylor wrote: »

Looks like it will be another long weekend of waiting. Halifax are as slow and useless as Leeds even though we were told they were quick. They haven't even given us the results of the valuation that was done last Thursday.

Looks like it's not actually Halifax being slow but our broker not bothering to tell us what's been going on. Halifax need 13 weeks payslips because that's what they class as 3 months. OH has only been in his job 13 weeks today so they were waiting for this weeks payslip. All sent now so should hear beginning of next week.

Valuation report came back and valued the house at £5,000 less. We were sort of expecting this because we paid over the asking price. Sounds like the vendors are happy to accept this but we're just waiting for conformation.

We found out why Leeds didn't accept (something on OH credit report). He's now got that removed and we may be able to re apply through them for the better rate.

At last I can breath this weekend now!

liverpoolbear

Nationwide have now come back and asked for evidence that I have been paying the mortgage for the past six months! This is on my Experian credit report for God's sake!

They already have the last four months bank statements, I have now had to send them the ones for February & March. This is absolutely ridiculous. The valuation was done two weeks ago now.

I am getting pressed by my solicitor for the mortgage offer as they know the valuation was done a fortnight ago.

Losing will to live here... I've never ever had this much difficulty getting a mortgage before.

counting_stars

Hey guys.

So, mortgage application was submitted yesterday morning to Santander and since then I have already had the bank requesting additional information. I thought it sat with the underwriters for a week or two, is it normally this quick? Im wondering if its because ive always banked with them or have a large deposit.

Mortgage broker said that I passed all their initial employability/ affordability checks straight after it was submitted yesterday. They then requested letters from my parents who have me money towards the deposit. Today they have asked for information on my partner as to whether she has dependants (buying on my own).

Is this normal? Little nervous as its not what I expected!

Thrugelmir

liverpoolbear wrote: »

Nationwide have now come back and asked for evidence that I have been paying the mortgage for the past six months! This is on my Experian credit report for God's sake!

Lenders don't use Experian reports. Even if they did, the report doesn't provide the information that is required.

Sarahspangles

I need to stop winding myself up about my application! It's actually not helping that I can log on to Nationwide and see progress....

Normally I log into Nationwide Online Banking every couple of days to balance my accounts. I find if I leave it longer, I'm more likely to lose track. Of course now I can see the progress on the application too.

Since the application went in on the 17th:

Nationwide spent Sunday with their systems offline, just when I hoped they would be updating to say that the survey was booked

I had insomnia (mainly due to the heat) on Wednesday, so I logged in to find that where the application should be listed as in progress, it said "no applications". So of course I assumed I had been declined and they had closed it.....no further sleep was had

At the same time the available balance on my CC looked as though the application fees had been returned. I could see them in the transaction record, but not in the balance. Turns out that was just a glitch from the Sunday problems.

Finally this morning I logged on to find the only update from the valuation yesterday is "Building Insurance Rebuild/Reinstatement value" - the figure is lower than the requested mortgage and the first time I read it I jumped to the conclusion that was the valuation.......

A broadband outage right now would do my stress levels no end of good! :rotfl: