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

asj

Hi


My mortgage timeline


AIP 11/08/14
one generic check and two mortgage quotation 11/08/14
Offer Placed 26/08/14
Offer Accepted 01/09/14
Lawyer Appointed 04/09/14
Full Mortgage Application submitted 08/09/14
Memorandum of sale by EA sharing lawyer details 12/09/14
One Generic check and five mortgage quotation checks on Experian 09/09/14
One Generic check on Experian 16/09/14
My lawyer received sellers draft contract 19/09/14
Paid my lawyer for searches 22/09/14
CV, childcare costs, asked by bank 22/09/14
MA advised application randomly picked for audit 22/09/14
MA advised valuation instructed by bank 24/09/14


no valuation date given yet.


will update soon...


have taken a risk of ordering searches before valuation has happened.

kingstreet

fuzzybear01 wrote: »

Thanks Kingstreet. I'm wondering how long to wait before chasing up the draft contract? It's only been a couple of weeks so far.

Slightly tempted to get in touch with the surveyors to find out when I should expect a report, but according to the email that was only scheduled for yesterday so I'm not expecting to find out much!

Ask the agent why it is taking so long.

They will be aware how pivotal it is in the legal side progressing.

fuzzybear01

fuzzybear01 wrote: »

Nationwide application through broker (L&C)

6th Sep - First viewing (£120,000 guide price)
6th Sep - Decision in principle (based on £115,000)
8th Sep - Conveyancing quote from local (friendly and personally recommended solicitor)
9th Sep - Second viewing (with the in-laws and without my rose-tinted specs!). Lots of work needed
10th Sep - Offered 95,000 (declined)
11th Sep - Spoke to agent, increased offer to max of £105,000 (so much work needed!)
12th Sep - Offer accepted! Solicitor instructed and broker is getting back to me with a lender! (edited...will be applying to Nationwide)
15th Sep - ID shown to solicitor, mortgage protection/critical illness cover arranged. Payslips sent to broker at L&C
16th Sep - Full application sent in to Nationwide, DIP received, payslips/bank statements sent to broker (L&C)
22/9 - Survey contract received (Nationwide have instructed Countrywide )
23/9 - Email received to say valuation is due to take place today

Still waiting on draft contract from the vendors. Offer was accepted two weeks ago, no chain on either side and house has been on the market a few times in the last year. I'm far too impatient for this process!

Solicitors haven't asked me for any money yet, last time I checked they said they'd send out a letter once they'd had documents from the sellers and could commence with searches.

Just had another email to say valuation is booked for 30/9! It's too late for me to phone anyone to find out what's going on. Hopefully the sellers aren't dragging their feet for some reason!

laurieballard999

Long story short, we are buying a new build and the developer said we can exchange on 2.5% deposit and could pay the other half on completion.

I wasn't sure how they would get this past the lender but the "broker" who is the new homes mortgage company advised it would be fine as we just need a letter from my partners dad saying he will gift us the deposit but they will not ask to see proof.

Naively we paid £245 for the mortgage advisor visit and £430 for the survey.

Fast forward two weeks and Halifax have asked for 3 months payslips, proof of deposit and guess what? Bank statements to prove the gifted deposit!!!

The call centre which is effectively what they fob you off to after the application have said this is very rare and are raising with the Halifax business manager but I'm not hopeful.

I categorically asked the advisor when he visited us whether they would ask to see proof of the gifted deposit and he said no, we only need it to satisfy them for now and you can pay it on completion.

You can probably imagine how angry I am right now...

kingstreet

fuzzybear01 wrote: »

Just had another email to say valuation is booked for 30/9! It's too late for me to phone anyone to find out what's going on. Hopefully the sellers aren't dragging their feet for some reason!

It's probably too few valuers trying to do too much work.

We submitted an application on 13th and the valuation was only done yesterday.

In some areas, it's pure business volume and not enough bodies on the ground.

kingstreet

laurieballard999 wrote: »

proof of deposit and guess what? Bank statements to prove the gifted deposit

Asked to supply the usual gifted deposit letter? Are they asking for the donor bank statement or yours?

fuzzybear01

kingstreet wrote: »

It's probably too few valuers trying to do too much work.

We submitted an application on 13th and the valuation was only done yesterday.

In some areas, it's pure business volume and not enough bodies on the ground.

I wouldn't have been fussed if I hadn't already had an email saying they'd booked it in for yesterday. Just sent the estate agent an email to ask if they have any idea when the draft contract will be ready.

I'm on annual leave at the moment, which means I have too much time on my hands! :rotfl:

laurieballard999

kingstreet wrote: »

Asked to supply the usual gifted deposit letter? Are they asking for the donor bank statement or yours?

They have asked for a bank statement from her dad to show the funds and a bank statement from us to show the funds being transferred.

learningaboutmoney3

Precise Mortgages

6/9/14- DIP
9/9/14- offer accepted
16/9/14- full application submitted
17/9/14- credit search on equifax
23/9/14- application with the underwriters
24/9/14- valuation instructed, booked for 29/9/14

Kimlock

I've been reading this thread for ages - the information on it is invaluable.
I can't believe I'm now finally joining you! We're a long way off from being close to completing but our timeline is as follows:

Halifax application (through broker)

DIP: 18/9/14
First viewing: 23/9/14
Offer: 24/9/14 (our dream property, we couldn't believe we had found it!)
24/9/14: Offer accepted
25/9/2014: Solicitor instructed. Sent all requested info to broker and estate agents. Full application submitted to Halifax, via our broker.

I have no patience at all so this is going to be a tough few weeks!!