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

System

Got my fingers crossed for you. The waiting game is for sure the most frustrating part of the process

MercilessKiller

Hi Everyone

FTB here! We had our Help to Buy equity loan application approved 10 minutes ago so our broker has started the mortgage application process *gulp*.

Expecting an answer within 48 hours so fingers crossed!

System

MercilessKiller wrote: »

Hi Everyone

FTB here! We had our Help to Buy equity loan application approved 10 minutes ago so our broker has started the mortgage application process *gulp*.

Expecting an answer within 48 hours so fingers crossed!

Good luck with that mate. It can be a stressful process but try and enjoy it

Just had an e-mail through and our mortgage application has been accepted and a copy sent to us in the post.

kingstreet

FWIW even on a case with a short delay, it still went from application to offer in five days, app 12/11 offer 17/11.

laurathree

Hey all,

We have had an offer accepted on a flat in London (we're FTBs) and are currently sending endless documents to our broker. Argh. This whole process is already so frustrating (it started with our offer being accepted on a Friday Night so we could do *nothing* for two days to get anything moving. Infuriating!

Hope I will be back here soon with an application submission date...

System

laurathree wrote: »

Hey all,

We have had an offer accepted on a flat in London (we're FTBs) and are currently sending endless documents to our broker. Argh. This whole process is already so frustrating (it started with our offer being accepted on a Friday Night so we could do *nothing* for two days to get anything moving. Infuriating!

Hope I will be back here soon with an application submission date...

Very similar to us. Offer accepted on Friday afternoon and our mortgage app didn't go off until the Tuesday after :mad:

Hope everything goes to plan with your application etc

kingstreet

A broker with any sense provides you with a list of documents which will be required to support the application and you get them all together and forward them all at once.

I can't speak for others, but we're pretty much open 24/7 and respond to texts and emails outside working hours on a regular basis.

Does your vendor have a property to move to? Is the chain now fully formed? Memorandum of sale issued? TBH most buyers think the minute the offer is accepted they have to go charging off ahead. That may not be the most sensible approach to take. Pacing yourself with the vendor's onward move can help to reduce unnecessary or badly-timed expenses.

laurathree

Thanks Vinnybro1988


Kingstreet: Bit complex as I am a PhD student with a bursary rather than a wage, and two casual jobs. It was gathering up all the information for the last 6 months from casual jobs that was taking the time. All mine done and dusted within a day - partner's regular, permanent, 9-5 job being slow about forwarding a contract to him (updated copy with his current salary details - had a raise!).

No chain - vendor emigrating to live with her family in Italy. Memorandum of Sale is happening with EA at the moment.

Antsy because we have been looking in London for almost a year and this is the best we have seen by far. Also her previous sale fell through because it was taking too long - 6 months plus, mind, which I sincerely hope won't be the case with us! - but yeah. Frustrating times.

Also broker has been brilliant and is family friend - has dealt with us out of hours all the time.

kingstreet

Sorry. Misunderstood your comment about not being able to do anything for two days. Thought you were unable to contact broker.

MercilessKiller

Vinnybro1988 wrote: »

Good luck with that mate. It can be a stressful process but try and enjoy it

Just had an e-mail through and our mortgage application has been accepted and a copy sent to us in the post.[/I]

Thanks! The first few days were crazy stressful but after sending the 74 pieces of paper to the broker, it's all actually been quite easy. Just a matter of whipping out the bank card every now and then haha!

How long did it take for your approval?