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

gunnarboy

Hi guys,
well we had a bit of a devastating blow yesterday and were left extremely confused and angry.
Our MA called to say that for some reason Natwest had reduced the LTV from 90% to 85% meaning we need to find an extra 6.5 grand deposit, this isn't a problem so after not being able to get hold of him all day we decided to call Natwest directly (something weve never done) and were very angry to learn that the LTV has NEVER been 90% it was agreed form day one at 85% and not only that 2 weeks ago when we founf the new property our MA said its just a simple change of address form to be completed which never got sent and the valuation which supposedly took place Monday didn't take place at all, in fact Natwest have heard nothing form our broker since the original valuation that found the knotweed on the previous property !!!! soooo angry !!
Finally got hold of the broker lots of shady excuses and appologies and passing the buck so the long and short of it is that we are now dealing with Natwest directly and all the concern and worry seems to have been for nothing as Natwest have always been happy to lend at 85% , weve been robbed of 9 weeks saving power (we have been saving but not as hard as we would have if we knew there was a deficit)
weve now instructed and paid for valuation ourselves directly and should hear something Monday morning ! Its starting to feel like were not meant to have a house ! but on the upside weve only lost 2 weeks , not long in the grand scheme of things.
will keep you posted.

azure17

9/7/14 AIP with Halifax
24/7/14 Offer accepted
30/7/14 New AIP with Halifax (with different LTV) declined with "failed credit check"
1/8/14 AIP for 85% LTV with Barclays
5/8/14 Full application submitted to Barclays
12/8/14 Barclays contacted broker saying support documents not received via fax. Broker emailed them instead
12/8/14 Support documents received, valuation instructed
13/8/14 Valuation booked for 14/8/14, Barclays sent for reference from employer

Seems to be moving along rather smoothly considering the reviews I've read about Barclays - fingers crossed it keeps this way!

Westyggx

I've just submitted all my required surveys for nationwide (Damp & Timber, Structure and Cavity Wall ties) all came back ok so hoping on a decision in the next few days!

snowscreamer

azure17 wrote: »

9/7/14 AIP with Halifax
24/7/14 Offer accepted
30/7/14 New AIP with Halifax (with different LTV) declined with "failed credit check"
1/8/14 AIP for 85% LTV with Barclays
5/8/14 Full application submitted to Barclays
12/8/14 Barclays contacted broker saying support documents not received via fax. Broker emailed them instead
12/8/14 Support documents received, valuation instructed
13/8/14 Valuation booked for 14/8/14, Barclays sent for reference from employer

Seems to be moving along rather smoothly considering the reviews I've read about Barclays - fingers crossed it keeps this way!

When we did our mortgage with Barclays/Woolwich a few months ago, valuation was instructed on the Tuesday, carried out on the Wednesday and mortgage was offered on the Thursday. Hoping it is as smooth for you!

wasted_legend

Yes, I'm joining the finger biting club again.

FTB on new build. got a DIP in January and submitted a full application
in February with Halifax (and Help to Buy) - Very nervous, due to a few credit history misdemeanors. But we were accepted. Woo

Delays in the building means that our current mortgage offer will run out before the house is ready. So we spoke to our broker, have updated a few details and now applying for a new mortgage offer.

If there's something I can worry about I will do, so yes, I am now in
the nervous state of waiting for good news.

Fingers crossed for everyone

:j

CCambridge

Just an update - hope this gives others hope on speed!

Submitted Halifax application Friday 1st August, few issues with a letter of reference resulting in estimated 3 day delay, confirmation of full offer sent out in the post today so under 2 weeks even with delays! So relieved - not a straightforward case either as is shared ownership (so did have to do 80% LTV) but also partner hasn't started his graduate job yet!
Hoping for an August exchange and possibly completion which would be under 8 weeks from first viewing!

Good luck everyone!

kiddakidda

CCambridge wrote: »

Just an update - hope this gives others hope on speed!

Submitted Halifax application Friday 1st August, few issues with a letter of reference resulting in estimated 3 day delay, confirmation of full offer sent out in the post today so under 2 weeks even with delays! So relieved - not a straightforward case either as is shared ownership (so did have to do 80% LTV) but also partner hasn't started his graduate job yet!
Hoping for an August exchange and possibly completion which would be under 8 weeks from first viewing!

Good luck everyone!

Might be ambitious to get exchanged and completed within 2 weeks. But well done and good luck.

J_Devon

Evening folks

I've just been reading the last few pages of the thread and it's very interesting to see everyones experiences, so thought I'd join in...my story so far:

28th July - DIP received from Virgin Money
30th July - Offer made (10% under asking price)
7th August - Offer accepted (slight delay due to vendor situation)
9th August - Full mortgage application sent through Virgin Money
13th August - Building survey carried out. Report to follow next week.
14th August (am) - Virgin Money contacted broker to ask for one more proof of address + part gifted deposit letter. Informed that the valuation would be 18th Aug.
14th August (pm) - Letter sent to broker. I'll send proof of address tomorrow a.m hopefully.

I'm doing everything I can at my end to try and keep the ball rolling...I just hope the other parties share my enthusiasm, which by the sound of it, may soon turn into desperation!

Thelaughingcat

gunnarboy wrote: »

Hi guys,
well we had a bit of a devastating blow yesterday and were left extremely confused and angry.
Our MA called to say that for some reason Natwest had reduced the LTV from 90% to 85% meaning we need to find an extra 6.5 grand deposit, this isn't a problem so after not being able to get hold of him all day we decided to call Natwest directly (something weve never done) and were very angry to learn that the LTV has NEVER been 90% it was agreed form day one at 85% and not only that 2 weeks ago when we founf the new property our MA said its just a simple change of address form to be completed which never got sent and the valuation which supposedly took place Monday didn't take place at all, in fact Natwest have heard nothing form our broker since the original valuation that found the knotweed on the previous property !!!! soooo angry !!
Finally got hold of the broker lots of shady excuses and appologies and passing the buck so the long and short of it is that we are now dealing with Natwest directly and all the concern and worry seems to have been for nothing as Natwest have always been happy to lend at 85% , weve been robbed of 9 weeks saving power (we have been saving but not as hard as we would have if we knew there was a deficit)
weve now instructed and paid for valuation ourselves directly and should hear something Monday morning ! Its starting to feel like were not meant to have a house ! but on the upside weve only lost 2 weeks , not long in the grand scheme of things.
will keep you posted.

Ooohhh....what a schmuck! At least you have the right of it now gunnarboy, hope it goes smooth from here on out.

Merkat, hope you hear tomorrow. We have the meeting with the bank tomorrow - I'm hoping that it is to get our official offer letter but my OH was the one who spoke to the MA and when I asked him why the bank wanted the meeting, he said he never asked! :rotfl:

Back to the cuticle nibbling!

Thelaughingcat

Woop! Meeting over, mortgage paperwork signed. Apparently we got knocked back four times before they accepted - our MA is a star! Just have to hope that the valuation/survey is ok...no Japanese Knotweed or unsteady joists please!