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

Thelaughingcat

Ours is a bit of a nightmare. Due to my poor credit rating but me putting in the 11.5% deposit, we are going for an indirect charge on the mortgage (both of us on deeds, OH only on mortgage) Lots of batting between our solicitor and the lender.

7th June - obtained decision in principle
28th June - offer accepted
2nd July - went on hols (pre-booked way before this house came up!)
16th July - returned from hols
23rd July - instructed solicitor
26th July - put in application (lender told us to 'manage our expectations')

Due to be back at the HSBC on Thursday (31st July) to get the decision. I have heard that the HSBC are the only ones who will offer an indirect charge so if anyone has heard of any other lenders allowing it, please let me know - it will help a huge amount with the stress!

liverpoolbear

liverpoolbear wrote: »

Had the same yesterday afternoon. I have been told I should receive the text about the official offer this afternoon.

Fingers crossed.

YES!


Received the text at 1429 this afternoon confirming the mortgage offer had gone out. London & Country sent me the offer 15 minutes later. I was absolutely made up!


I contacted my solicitors to tell them and I forwarded a copy of the offer on too.


Timeline:


June 23rd - Agreement in principle (London & Country)




July 14th - Application complete and valuation done




July 17th - Problem with mortgage, Experian showing more debt than I disclosed. Turns out it is my credit card which is settled in full every month. On way home from work L&C call to tell me Nationwide have rejected my mortgage application because of undisclosed debt. Need to get Experian report. Contact Experian, but fail one of their "identity theft protocols". Told I will have to wait a week for a PIN number to arrive in post.




July 18th - find out from Nationwide that the undisclosed debt is £6,054 plus they have double what I pay in loan commitments. L&C get mortgage referred to more senior underwriting team at Nationwide.




July 19th - manage to get credit report from Noddle. Note that my outstanding credit card is £3,027 (£2,700 is what was settled on July 3rd, the other is current). Also note that if you double my loan payments you get the figure Nationwide have quoted me.




July 21st - contact Nationwide who inform me that Head Office have sent the application back to the normal underwriting team with the comment "there is an error on this application. Outstanding debt has been doubled, please correct and proceed with sending out offer."


Turns out that rather than having me living at my current address for 11 years, they have me living here for 9 years and then 2 years. This is why the debt has doubled.


L&C cancel original application and enter a new one. Charged a further £329 but Nationwide will refund this. L&C refer new case to the old one as all the documents are on there. Told I will have the offer by close of play on 24th.




July 24th - call up to find they haven't got my documents. L&C inform them to refer to old case for documents, which they find. I am told I will have the offer by the end of the week as they now have the documents.




July 25th - still no news. L&C contact Nationwide and request escalation. Nationwide are now requesting an updated mortgage statement as the one I supplied at the start of the previous week has just gone out of date! L&C manage to get them to accept a further two months of bank statements instead (proving I have been paying the mortgage).
L&C upload bank statements for February & March. Nationwide also tell me they have issued an escalation request and I should get the offer by close of play on the 28th.




July 28th - contact Nationwide, they are now telling me to send in my proof of address as they don't have it (I gave them my Council Tax statement). Inform them that they do have it, they say they don't. I ask them to refer to previous case, it is on there so they transfer it over. They tell me they have everything and I should get the offer no later than close of play the next day.


July 29th - contact Nationwide during lunch break to check everything is ok. Am informed that it could be the following day before offer is sent out!


1429 receive text confirming offer has been sent out, and receive offer 15 minutes later from L&C.


1500 pass out. In desperate need of alcohol, but tea will have to do as am at work!


Good luck to everyone waiting on their offer. I have never had any problems getting a mortgage up to this one.

MortgageVirgin

MortgageVirgin wrote: »

MiP with Natwest agreed on 20.6.14.
Full application made on 8.7.14.
Application and documents assessed on 14.7.14
Valuation instructed, which was carried out on 22.7.14

Well, we've had great news and rubbish news today.

We've got our mortgage offer! Yay!

My partner's buyer has pulled out of the sale. Crap! His place is already back on the market, other interested parties that made offers initially informed and he sold in 5 days before so hopefully it'll sell quickly this time too.

mai_taylor

Congrats Liverpoolbear! :j

We've been told now that we should get an offer early next week. Fingers crossed.

nic3510

Just had our confirmation of our mortgage offer woohoo! this whole process has been goin on since seeing the house in April fighting tooth and nail to get the mortgage in principle then a long drawn out application.

hoping to be on the move by end of the month!

pembssurf

Not sure whether to laugh or cry but after being promised last friday and then this monday that the whole ID documents thing was going to be resolved imminently then received this today from Broker:

"I have spoken to NatWest this morning and we are still having issues with the I.D. They say the copy they have of your passport is not clear enough. The copy we have is more than clear enough and we have faxed, posted and emailed it to them. The issue is arising at NatWest’s end when they then scan it on to their system.

After shouting at the processing department because this is neither yours or our fault they are going to see if they can re scan the passport but in a higher resolution. Hopefully this will do the job. I have also called our relationship manager and left a message for her. She is already aware of the issues we have been having.

They have assured me that this is the only outstanding requirement for the offer to be produced. There are no issues with the financial side of things.

I wonder if it would be worthwhile getting another copy of your passport to see if we can improve the quality just in case. Is this something you could do today? Could you try and scan me a copy in a high resolution? Or post me a clear copy? It doesn’t have to be certified. I can do that at my end.

I am sorry that this continues to drag on. I will continue to do all I can to get this resolved ASAP."

This has been going on for weeks almost a month now on just verifying the ID documents. Apparently NAtwest scanners are crap because iv now supplied 3 sets of documents this will be the 4th copies i have posted and all are pristine colour scans printed on a laser printer. You simply cannot get any better. I just can not see what the issue is. Its a farce. The only light at the end of the tunnel is the fact that the broker reckons everything on the financial side of things is ok. Iv got a vendor waiting to exchange, my Mrs needs to change jobs ASAP (job offer months ago just waiting to hand in her notice on completion) and i myself end my work contract in like a matter of 8 weeks. really starting to panic now as completion needed to have happened like 4 weeks ago. :mad:

jojo_1982

Reading this had got me worried!
24/07 - offer accepted
24/07 - mortgage application through L&C/nationwide
28/07 - solicitor instructed
29/07 - mortgage product reserved and application is progressing

With liverpoolbears issues with L&C/nationwide I'm now stressed there will be problems. Just hope we aren't turned down. We've never had any problems getting a mortgage before this - but then this is for 200k more than we've ever borrowed before.

Good luck to everyone waiting for offers/buyers/etc

Svenena

pembssurf wrote: »

This has been going on for weeks almost a month now on just verifying the ID documents. Apparently NAtwest scanners are crap because iv now supplied 3 sets of documents this will be the 4th copies i have posted and all are pristine colour scans printed on a laser printer. You simply cannot get any better. I just can not see what the issue is. Its a farce. The only light at the end of the tunnel is the fact that the broker reckons everything on the financial side of things is ok. Iv got a vendor waiting to exchange, my Mrs needs to change jobs ASAP (job offer months ago just waiting to hand in her notice on completion) and i myself end my work contract in like a matter of 8 weeks. really starting to panic now as completion needed to have happened like 4 weeks ago. :mad:

Gosh, this sounds really stressful. Hope you get it sorted soon. Would it be possible for you to take a copy into a branch and have it verified (and maybe scanned in branch) by the manager there? Might be worth trying something different. Must be frustrating to be going round in circles.

Svenena

Svenena wrote: »

I'd been awake for three minutes this morning and was already wondering when I'd hear about yesterday's valuation. Hadn't even opened my eyes yet when I got a text from Nationwide to say they'd received the valuation report, followed seconds later by another one saying they'd approved it.

I'm really hoping I'll have an offer by the end of the week; fingers crossed!!

I cracked under the pressure of waiting (since yesterday, lol) this morning, and emailed my broker asking how long he thought things would take, etc. He's very good, and always responds very quickly when I email, which I've been really impressed by. Anyway, this was his response:

"I spoke to them yesterday and it was with the underwriter looking at final assessment and I was advised it should go to offer within 24 hours so I would be hopeful it should also go to offer this afternoon for you"

So sounds hopeful. Really hope I do hear from them today.

Nationwide changed their lending criteria a few days ago, and I would fail affordability on their new 'stress test' if I had to reapply. This is very concerning, as there was only one other lender available to me (because I'm buying a shared ownership property which has a restriction on staircasing). So it's an added stress for me, and I'll now be worrying about things until the very end :sigh:

I'm going on holiday next week, which seems like a good excuse to chase the solicitor

Westyggx

Nationwide Mortgage

21/07 - DIP
24/07 - Valuation took place
28/07 - Valuation advised i need specialist reports for Damp and Timber, structural and cavaty wall ties (house is solid wall so not sure why they asked for this??) they didnt even put a value on the house
31/07 - Structure Engineer due to survey house