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

kasperblue

Still waiting for my mortgage offer.....5 weeks and 2 days into application.....they have everything they need but I'm still waiting for a decision :-(

Bahamutzz

Hey all,

Read through some of the posts here and there have been some good ones and not so good ones. So I guess we never know what is really going to happen.

Me and my Wife (First time buyers) have recently put in a Mortgage application so will go over what we have done so far and share our story as such.

30th June 2014 - Got a mortgage offer in Principle from Santander while we have been looking at places to buy.
27th July 2014 - Found an amazing house to buy so we put in our offer
28th July 2014 - Offer Accepted, now on to the actual Mortgage application
30th July 2014 - Mortgage application done Via a broker, not quite sure what he is adding to the process as I haven't heard anything from him since.

30th July 2014 --> 6th August 2014: Reading horror stories about how bad Santander seem to be in terms of how fast they turn things around which is making me feel a bit uneasy.

I know it has only been a week so far, I guess I was just expecting the whole process to be a bit quicker

P.S Congrats Sky_Bloo on receiving a text saying your offer is on the way Hope mine is as simple.

counting_stars

Can't believe it has all been so quick. Best of luck for anyone waiting! I'm going to shift over to the waiting to complete forum now

Current timeline:

9/7/14: Offer accepted on first property.
19/7/14: Fell in love with a back up property and made the big choice to pull out of other sale.
21/7/14: Offer accepted on lovely place.
24/7/14: AM mortgage application completed and submitted.
24/7/14: PM bank asked for letters for deposit gifts.
25/7/14: Bank asked for landlord details and whether my partner (not buying with me) has dependants.
28/7/14: Bank asked more about partner to assess whether they hae claim on property
30/07/14: Bank ask for landlords contact number.
Solicitor updated that they have requested contract and documents from vendors.
31/07/14: Update that bank will offer full mortgage amount following valuation. Told that valuation will be within 3 days and to expect offer in the post within 5!
05/08/14: Valuation by bank. Paid solicitors first fee and dropped off most paperwork
06/08/14: Informed by broker that the mortgage offer is in the post. Also told that valuation picked up no issues.
11/08/14: survey booked, will also be dropping last paperwork to the solicitors and sorting out my insurance.

Super excited! There is no chain and property is empty so could fly by!

merkat1

Sky Bloo congrats....so jealous!

I have just started a thread as Leeds have take the valuation money etc out of my account so i am hoping that's a good sign but tbh it probably means tiddley squat!

sky_bloo

Thanks all now for more waiting

Nickyjnoo

Update:

Here's my experience so far.

Doing SO so abit different.

8th July- view flat and placed our interest.
16th July- offered flat subject to HA financial interview. Which was done the same day.
18th July- DIP from Halifax
24th July- full mortgage app with Halifax. subject to valuation.
1st August- Valuation
6th August- Valuation report received

I called Halifax and they said my mortgage offer was printed yesterday and is in the post.

Good luck to anyone else waiting!

sidhaarthm

Hey all,

(Newbie alert!)

I have been on this forum for several years. For the last 6 odd months I have been quietly observing this particular thread as I was looking to buy a property. I was mortified with some of the experiences but that only made me more careful and learn lessons from other's experiences.

I am a FTB and my search began in Feb 2014 and I got lucky (and how!) very recently. Below is a glimpse of my timeline. I am not sure how well I rank with most of the other posters but so far it has been pretty straight forward - though I sense the worst (Searches!) are ahead of me.. :-/

Early June 2014 - First Viewing
04 June 2014 - Obtained AIP from Halifax
First week of June 2014 - Offer Submitted for £205K (Asking was £200K) (via Tender! :O )
Mid July - Initial Tender winner's transaction falls through (Mortgage Issues) and EA approaches me as Vendor's second preference. I clarified that I am unable to cover Tender fee now because of change of circumstances (fee was about £4100+VAT). Requested if Tender fee can be built into asking price so my mortgage can cover. EA reconvenes with Vendor and Vendor decides to switch to a normal transaction (Non-Tender) whilst covering the EA fee and accepts my initial offer of £205K! So basically I saved about £5K.
22 July 2014 - Offer Accepted via EA (on phone)
23 July 2014 - Mortgage Application submitted in full and approved on spot
23 July 2014 - Homebuyer Valuation Requested and Paid for (£665, ouch!)
23 July 2014 - Solicitor Instructed
29 July 2104 - Valuation Complete
31 July 2014 - Memorandum of Sale distributed (there was a slight delay due to change of Sale type and processing fresh paperwork)
01 Aug 2014 - Draft Contracts Requested from Vendor's Solicitor
02 Aug 2014 - Homebuyer Valuation Results Received - No Reds, Few Orange but mostly Greens.
06 Aug 2014 - Draft Contracts Received and Payment for Searches Made - Local Authority and Drainage + Flooding + Environmental (Homecheck Professional)
06 Aug 2014 - Halifax MA emails saying formal Mortgage Offer has been sent out to myself and Solicitor!

Next date - xx Aug 2014 - Really Hoping the Authority Search Results are received in a timely manner. EA indicated Sutton Council's current turnaround is about 5-6 weeks! Though Council's website mentioned 10 working days. Finger crossed!
​​
Next steps - review Draft contracts - send enquiries (Electrical Checks, Double Glazed Window Guarantee etc) and get the contracts finalised. Aim for Exchange within Aug and Completion a few days later. There is no chain and the property is currently vacant - ready for occupancy.

Thoughts/Comments/Feedback welcome. I am particularly worried about the Searches right now as I would like to Complete by end of Aug or first week of Sept. Anyone has any experience to share with these - especially in Sutton?

Bahamutzz

Wow sidhaarthm, that seems to have gone super fast for you. I could only wish that ours goes through that quickly. However I do not think I will be holding my breath.

We had a Phone call yesterday from our broker, who needed us to sign a form (Baring in mind we thought our Mortgage application had been sent last wednesday!). This form was a "Customer Declaration" basically saying that the information we provided in the Mortgage application was correct and that the deposit is not sourced from public funds. To me, this sounds like the application hadn't even been sent yet, or if it was, it has been delayed due to this 1 form not being given to myself and wife to sign with all the other documentation while we were making the application.

Anyway, I am really glad everything is going quickly for yourself, fingers crossed everything else goes as fast.

pembssurf

ok 6 weeks in now and for the last 3 weeks Natwest have asked the broker/me for no less than 5 copies of each ID which each time they keep refusing as illegible. This is after providing photo perfect laser printed copies of everything they asked for and sending them direct to their processing department. Now after 3 weeks of fannying around they have told my broker to tell me to go into my local branch and get them to authorise it and copy it then fax it direct to them. The copies they have now faxed are wayyyyyy worse than anything i have sent them. We went through valuation 3 weeks ago now and this is still going on. With this combined with the fact my acting solicitor got intervened by SRA and shut down and only just reclaiming my files back from the SRA I'm so ready to give up. The second problem we faced yesterday in going to the branch is the fact my wife's surname is abbreviated on things like council tax demands and all utility bills (it is a double barrel surname from brazil and incorporates her family name with my surname) as a result they were not accepting anything as proof of her address, absolutely ridiculous. How can we dictate what the bank,utility companies and so so do with how our names are printed on an address. Any excitement we potentially had has now all but evaporated and i have got to the point i will be just as happy if they decline the mortgage just so i know where i stand and there is no more waiting around or pouring money into solicitors fees (for the second time). Natwest have been a total nightmare for me to deal with and this is going through a broker. It has got so bad the Broker has had his relationship manager on the phone threatening Natwest to no avail. Something in their scanning process is seriously floored

sidhaarthm

Bahamutzz wrote: »

Wow sidhaarthm, that seems to have gone super fast for you. I could only wish that ours goes through that quickly.

Anyway, I am really glad everything is going quickly for yourself, fingers crossed everything else goes as fast.

Hi Bahamutzz,

Thanks for your response! I hope your application was actually submitted and it progresses swiftly once the declaration is in. Even I thought of going via a Broker initially but once I spoke with Halifax MA directly, the process didn't seem all that difficult. Plus I saved about £300 by going direct.

Today I switched my Natwest Savings account to Halifax - so I will get £100 for the switch (ongoing promotion) + another £150 on completion for taking a mortgage through them! £250 should at least take care of the Searches if nothing else.. Ahh, the damn searches, spoke with my Solicitor just now and she says they can't do much (not even review the draft contracts) until the search results are back. Now the wait begins _pale_