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

Kimlock

Bit of an update from me:

Halifax application (through broker)

18/9/14 - DIP
23/9/14 - First viewing
24/9/14 - Made an offer (our dream property, we couldn't believe we had found it!)
24/9/14: Offer accepted
25/9/14: Solicitor instructed. Sent all requested info to broker and estate agents. Full application submitted to Halifax, via our broker.
29/9/14: Halifax requested more documents (bank statements) to support application. Documents requested from our bank.
6/10/14: Valuation takes place
7/10/14: The last of the supporting documents sent to Halifax.

Fingers crossed we've sent sufficient information and they won't ask for more! Broker says she feels confident, which has given us a boost but I can't help but be on edge!

learningaboutmoney3

asj wrote: »

learnabt money, i had already instructed my solicitor to do the serches on 22 sep (risk worth £ 249.00 ), and she got all the searches back today.

Our sol is still waiting on the draft contracts Vendor has chased and they should be with her by Thursday so hopefully things can get underway then!

I rang lender again this afternoon and they are producing the mortgage offer by tomorrow close of business The guy said it is 99.999999999% going to be a full offer but said he couldn't say 100% until we have the offer in our hands I may well sleep tonight!

nancmat

Hi all, had my offer accepted yesterday on a property for £189,950. I want to borrow £169,000. As my husband is self employed with less than 2 years books, I'm having to get the mortgage in my name alone, the broker thinks this should be fine, I have no debts & wages good. Have an appointment tonight so we will see. We've sold our own place, complete on the 24th Oct to move in with my mum until this sale go through, fingers crossed.

asj

Quick update today,

your valuation and documents have been assessed by ourunderwriters and the lender is happy with everything.
The next step is for Halifax to issue the formal mortgageoffer to you. This should take 24 hours.

nothing is 100 % till i get something in writing.

sidhaarthm

​This will probably be my last post in this thread.

I have been on this forum for several years. For the last 8 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 my timeline. I am not sure how well I rank with most of the other posters but my experience in the end was not as terrible as I was expecting. Thanks to my Solicitors (RMNJ) and the straight forward no-chain circumstances.

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 by Solicitors 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 both myself and Solicitor!
09 Aug 2014 - Formal Mortgage Offer Received via Post
13 Aug 2014 - Received Flood Search, Environmental Search and Drainage and Water Search (Local Authority Pending)
18 Aug 2014 - Received Local Authority Search
22 Aug 2014 - Enquiries Sent to Seller's Solicitors
08 Sept 2014 - Seller's Solicitors Return Management Pack + other enquiries pending + Buyer Solicitors raised some more enquiries
10 Sept 2014 - Received Paperwork to Sign (Contracts, Deed of Covenant, TR1, SDLT etc)
11 Sept 2014 - Signed Paperwork Returned
19 Sept 2014 - Received Health and Safety Certificate ​and ​final response to enquiries
23 Sept 2014 - Contracts Exchanged!
26 Sept 2014 - Complet​ed! :j

asj

UPDATE
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
VALUATION TOOK PLACE ON FRIDAY 26/09/2014
Valuation letter from halifax received saying property lendable
and the price is ok 01/10/2014.

MORTGAGE OFFER ISSUED 08/10/2014

TOOK EXACTLY 23 WORKING DAYS FROM SUBMISSION TO OFFER,
INCLUDING MY CASE RANDOMLY SELECTED FOR AUDIT.

learningaboutmoney3

Great news ASJ! I'm on 22 days since offer and my file has been marked as ready for offer so I should have the formal mortgage offer by tomorrow afternoon!

Arina

bexs2247 wrote: »

Thanks. We are absolutely gutted and a bit shocked really. Now thinking of waiting til the new year to find somewhere although this will mean losing our buyer too.

Sorry to hear this. Our vendor pulled out today too. We were so close to exchanging im heart broken. Was our dream home x

asj

May be something else is waiting for you arina.

asj

Learnabtmoney may be today is your day, tell me which forum to join after the offer.