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

MadScientist_2

Arina wrote: »

How long ago was this? Thanks x

I got my DIP on 1/07, then put in a full application on 10/07. Mortgage offer received 21/07. With Natwest, via a broker. I'm currently waiting on solicitors searches to come back, then can hopefully arrange an exchange / completion date. It's all been fairly quick and smooth for me, but I know it's not been that way for everyone.

kiddakidda

Arina wrote: »

I wish you all the best. Hopefully they will now speed it up as you have rung them directly. Your very close to the end...

Cheers!!

I hope you are right, I'm not a fan of speaking with the lender direct as I don't want to undermine what the broker is doing for me.

But I do need to know what is going on, good or bad.

Arina

kiddakidda wrote: »

Cheers!!

I hope you are right, I'm not a fan of speaking with the lender direct as I don't want to undermine what the broker is doing for me.

But I do need to know what is going on, good or bad.

I know what you mean about undermining your broker but sometimes it's better to call them up yourself to get a quicker response as mortgage brokers have more than one application to deal with!

All the best xx

Arina

MadScientist wrote: »

I got my DIP on 1/07, then put in a full application on 10/07. Mortgage offer received 21/07. With Natwest, via a broker. I'm currently waiting on solicitors searches to come back, then can hopefully arrange an exchange / completion date. It's all been fairly quick and smooth for me, but I know it's not been that way for everyone.

That is a very smooth transaction! I hope mine goes that smoothly! I seem so far from completion at the moment. Am I thinking a bit far fetched if I say I want to be in my own place by christmas!? Lol x

AGirlWrites

Update time:

1st August - Broker had to change the way I get paid (I get paid by dividend) and Halifax automatically declined me. My valuation survey and arrangement fees were refunded back to me.

4th August - Broker discussed my circumstances with Nationwide, gave me a DIP with a higher deposit needed.

11th August - Valuation survey carried out, now waiting for the survey results and hopefully an offer.

AGirlWrites wrote: »

Hello everyone,

Here's my timeline so far:

19th July - House Viewed
24th July - DIP Received from Halifax
25th July - Offer on house accepted
29th July - Full Mortgage App filled in with Broker

jojo_1982

So we have our homebuyers report back. It values the house at 30k less than the accepted offer. Nationwide haven’t said how much they would be willing to lend based on this, and I’m not sure what their valuation suggested it was worth and if this matches the homebuyers report but I doubt they will lend us that amount. Also, I’m not sure we can afford to pay that anyway as it would take every penny we have and there are several things considered on the report as a safety hazard needing immediate work, and we wouldn’t have the money to fix these.

Does anyone know who I get in touch with now? The estate agents was my first thought.

hanfrangipane

Hi everyone

Just thought I'd post up my experience of applying for a DIY mortgage. I'm a FTB so has all been a bit nervewracking but the online tracker has been updated to accepted today!

I'm a relatively straightforward case but had a few funnies:
- Not on the electoral roll so needed to go with a lender that would accept alternative forms of ID and not automatically reject
- Partial gifted deposit from uncle
- My boyfriend living with me as a 'Non borrowing occupier' which some lenders can be funny about (he is not contributing to mortgage or deposit)

The initial WOM broker I tried to use was worse than useless, he didn't listen to me at all, didn't bother checking with lenders whether they would accept me not being on electoral roll and I got a declined DIP from Nationwide because of this. I'd already had an offer accepted on a house so frantic online searching then ensued! Thanks to the help of some lovely people on here I decided to apply on my own and went with Skipton Building Society who have been really great to deal with. Timeline as follows:

09/07 - Offer Accepted
10/07 - DIP applied for with Nationwide via Broker
14/07 - Rejected by Nationwide due to Electoral Roll
15/07 - Skipton DIP
25/07 - Skipton interview with mortgage advisor for product selection and full application
29/07 - Skipton receive full application and initial documents
05/08 - Mortgage underwritten and valuation instructed
06/08 - Sent additional information (P60) to underwriter plus explanation of reason for boyfriend not being on mortgage as requested
08/08 - Valuation undertaken
12/08 - Case accepted online!

Skipton have been great - the mortgage advisor was lovely in my product selection and application interview over the phone, the mortgage line advisors are extremely helpful and very knowledgeable, giving me plenty of information on my file whenever I called (quite regularly!!) and the underwriter called me directly to ask about my documentation.

All in all a positive experience - now for the next part!

Good luck to everyone still waiting

Thelaughingcat

Thelaughingcat wrote: »

Fingers, toes, I'll even cross my eyes for you :rotfl:

We've just been told that the decision has been passed from the 'Senior Underwriter to the Division Head but he is in a meeting this afternoon so we should get the final answer tomorrow now. Absolutely no idea why our decision requires the Grand High Poobah but it isn't helping the feeling that my intestines are crossed, along with everything else

*runs into the sunset, wailing and waving arms*

Stiiiiilllll waiting...c'mon HSBC, an acceptance would be a pretty awesome birthday present this week!

liverpoolbear

liverpoolbear wrote: »

I really didn't think I'd get the house I want. I am part-exchanging one of my properties against it, and selling the other. I expected the builder to give me a poor offer for the house, which he did. Originally offering 77% of the market value (and that was for a quick sale) before before increasing it to just under 90%. I expected the sale of my other house to fall through, however everything is progressing well with completion expected for the week after next.

Update.

After six weeks of selling my other property the buyers solicitors come back with a raft of questions. They want to know about the construction of the conservatory, how long it has been up etc. They then uncover that Barratts put a covenant in the deeds that forbids people from putting up a structure on the house without their permission. To get round this costs another £130.

As the buyer has been renting the property for 3 months, they want to see electric/gas certificates. The tenant is a friend of my girlfriends so it was an informal arrangement as she needed somewhere to live. I didn't have the certificates. Had she not been buying without renting then I wouldn't need the certificates. Another £40 to get round this.

They ask would I pay back the overpaid rent if we complete mid-month, to which I said yes. (More of this later).

The house was supposed to complete this week. I rang my solicitor for an update last Friday afternoon, but they never called me back. I assumed everything was ok. WRONG!

I come into work yesterday and she's emailed me to say the buyer now doesn't want to complete until September 1st! I am supposed to be moving into my new home in the second week of September and need the equity out of this property to pay for it. Moving it back to then is just asking for trouble. I did it this way so that there was at least 3/4 weeks between selling one house and part-ex'ing the other. This would act as a buffer.

I called the buyer to ask why she'd put it back, and she said she hadn't. It turns out that her solicitor had decided unilaterallly that it would be easier and cleaner to see out the rental period (i.e. I wouldn't have to return the difference on the unused rent). This despite asking me would I pay back the unused rent. I mean, what is the point of asking that and then taking a different course of action.

The upshot is the buyer spoke to her solicitor, who in-turn spoke to mine and we are completing on Monday (August 18th).

This has been the most stressful and difficult sale & purchase I have ever been involved with. This includes when I was a teenager in the mid-1980's and the sale of my mother's house fell through at the last minute.

merkat1

Thelaughingcat wrote: »

Stiiiiilllll waiting...c'mon HSBC, an acceptance would be a pretty awesome birthday present this week!

Anything yet? I hope you're off celebrating somewhere! :beer: