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

Kim_35

Hi all here is my little story


House Value £163k - Mortgage required £90k - Deposit £73k

13/08 - AIP with Halifax
16/08 - Full Application
18/08 - Sent Pay Slips etc over
20/08 - Contact from Halifax saying to resend as fax docs were unreadable
27/08 - Contact from Halifax confirming docs arrived and to be processed
29/08 - Called to complaints after 4 hours trying to get through as processing extremely busy & told someone will be verifying my details on Monday 1 Sep & will be called with an update


Anyone know how long once docs are verified how long it will be before I receive a full mortgage offer? I'm having many sleepless nights at the moments and want to start packing!!

Thrugelmir

Kim_35 wrote: »

I'm having many sleepless nights at the moments and want to start packing!!

Mortgage offer is only the start. Suggest you start yoga classes!

Actual

12/06 First viewing. Offer refused.
16/06 Second viewing. Revised offer accepted.
03/07 Homebuyer survey booked
15/07 Homebuyer survey conducted
*Pause while we consider survey results.
30/07 DIP approved
02/08 Application completed with broker
04/08 Application submitted to Aldermore
08/08 Valuation back. All ok.
18/08 Broker advises application won't get looked at until 02/09
22/08 Mortgage Offer issued! What a nice surprise!
28/08 Instructed solicitor to begin searches
28/08 EA "suggests" aim for completion date of 26/09

Will update this as things progressed. Pleasantly surprised with Aldermore, who moved much faster than we had anticipated (and took us on, when no-one else would!).

Was a little worried that we had to pay for the non-refundable valuation fee prior to getting the full mortgage offer (if it was declined, we would have lost our valuation fee!) but the broker did a thorough job, so the DIP was as accurate as it could possibly be :-)

Kim_35

Thrugelmir wrote: »

Mortgage offer is only the start. Suggest you start yoga classes!

Ha ha! At least if I know the mortgage has been accepted I can start planning - this is the part I wish was over - hate the not knowing & waiting! Fingers crossed all goes well & I will never have to go through it again!!

harding1985

Attended Nationwide last Wednesday for a 3 and a half hour mortgage application/review, all looks good with no issues from the meeting. However Nationwide has since requested a copy of my passport, slightly strange that they didn't request this whilst in the mortgage interview.

Survey on our property and the place we are buying was completed last week. Be interesting to see if I hear anything this week. Positive news please!!

tr54vrs

10/07 - DIP from broker
missed out on 2 houses before
14/08 - Offer accepted on house
14/08 - Full application submitted to Nationwide
27/08 - solicitor received all missives and house documents
29/08 - Valuation booked for our mortgage application
01/09 - text from NW formal mortgage offer issued

11 days to complete.... :beer:

harding1985

tr54vrs wrote: »

10/07 - DIP from broker
missed out on 2 houses before
14/08 - Offer accepted on house
14/08 - Full application submitted to Nationwide
27/08 - solicitor received all missives and house documents
29/08 - Valuation booked for our mortgage application
01/09 - text from NW formal mortgage offer issued

11 days to complete.... :beer:

Excellent news for a Monday morning!

We had our valuation on the 29th, just awaiting decision from NW..

although on Friday they did request a copy of my passport so that may delay things slightly.

Arina

Little update from me. Just had a phone call from my mortgage broker that the valuation will be taking place today! Hope it all comes back ok. Fingers crossed! Here is my updated timeline:

16/08/14: Received DIP with halifax
16/08/14: 2 searches showing up on Experian (RBS - MORTGAGE QUOTATION & HALIFAX - ID GENERIC CHECK)
18/08/14: Offer accepted on property
26/08/14: Full application submitted
28/08/14: Valuation funds taken from account
29/08/14: 2 searches showing up on Experian (RBS - MORTGAGE QUOTATION)
02/09/14: Valuation booked

When do I hear back the results from the valuation.. Anyone know? xx

harding1985

Well our dream has been blown out of the water. Our house has been valued 10k less than what it was sold for and the property we are purchasing has been valued for 12k less.

Hmm

Arina

harding1985 wrote: »

Well our dream has been blown out of the water. Our house has been valued 10k less than what it was sold for and the property we are purchasing has been valued for 12k less.

Hmm

Oh no. I am so sorry to hear this. Think this is everyone's worst nightmare. I hope you find a solution x