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

kingstreet

I have no idea, but intuition would say the whole application would be re-scored, so both of you.

However, I can't guarantee that.

You seem to have chosen a lender which is unable to handle the amount of business it is attracting. You usually find the best rates go hand in hand with the biggest delays.

Which lender is it?

ri17

Santander, we're porting our v v low mortgage rate over otherwise I would have ran for the hills a month ago!!!

kingstreet

That's odd.

Our last Santander port was offered 14 days after application - 1st September to 15th September.

I guess it depends on other aspects of the case.

I have another one to input tomorrow, so we'll see hoe that goes. This one, we have to get a letter from one of the borrowers to say she's happy for her estranged husband to exercise the port with his new girlfriend.

That could get interesting.

ri17

Its been very straight forwards in regards to any issues, its just taken them so long to process documents uploaded. We also had a 15 day wait from application to our mortgage interview as it was their first available appointment and its gone slower since then

kingstreet

ri17 wrote: »

We also had a 15 day wait from application to our mortgage interview

That's where we win.

The application I'll input tomorrow is only being done this afternoon on a property which was only reserved on Sunday.

We're getting our offers turned around before borrowers are even getting an appointment with their lender.

Did you consider using a broker for this, or did you think it was direct-only as it was a rate port?

ri17

Yeah just assumed thats what you did as it was porting it. Also very stupidly thought it would be quick and easy. I have learnt a few lessons this last 6 and a bit weeks!

miss_sparkle

UPDATE

Our timeline is as follows

25/9/14. Accepted an offer on our house
27/9/14. Enquired about new build, given broker details
27/9/14 DIP approved with Nationwide via broker
28/9/14 Reserved new build
07/10/14. Broker collected all docs
08/10/14. Docs uploaded to nationwide, help to buy applied for
13/10/14. Received help to buy approval in the post

14/10/14 Broker said app has been agreed with underwriters
15/10/14. Full application keyed
16/10/14. Valuation fee has been debited from our account &
Text from nationwide saying they have received our
application

Does anyone know if they look at your documents/wage slips etc before they take the valuation fee?
I can't get a clear answer from our broker she said she uploaded the docs on the 8th and that they had all been approved, but she didn't key the full app till yesterday so will they look at all the docs again or will they have already done this?

She said it will go to valuation, have one final check and then offer, so she can't see any problems with it going through.

kingstreet

If the docs have been with Nationwide for a week, they will have been accepted or queries raised by now.

I get the impression your broker doesn't use Nationwide that often. As soon as the app is submitted, the valuation fee is debited and the valuer instructed. The valuation appointment date will then follow.

Are you now getting the text or emailed updates, or has your broker not entered your contact details?

miss_sparkle

kingstreet wrote: »

If the docs have been with Nationwide for a week, they will have been accepted or queries raised by now.

I get the impression your broker doesn't use Nationwide that often. As soon as the app is submitted, the valuation fee is debited and the valuer instructed. The valuation appointment date will then follow.

Are you now getting the text or emailed updates, or has your broker not entered your contact details?

Thanks, yes she said everything had been accepted upto now, she took 13 weekly wage slips, p60 3 months bank statements etc so hopefully they can't ask for anything extra.
I got the text & email updates today direct from nationwide and checked the bank and the valuation fee has been debited.

So will nationwide go through all our docs & do checks again once they get the valuation back (it's a newbuild so can't see there being a problem) or will that be it now and we should just get the offer after they receive the valuation back?

Hope everything goes smoothly from now on!

nancmat

Halifax mortgage through a broker.
We are sold & due to complete 24th oct, moving in with parents.
4/10 - property comes on market
5/10 view it, love it
6/10 offer on it & so do 3 other people
7/10 offer accepted, instructed solicitor & mortgage advisor
8/10 meeting with mortgage advisor agreed in principle & forms/paperwork sent off
15/10/14 - Mortgage offer received, yippeeee