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

Akk223

cleol56 wrote: »

Update on the above time line for me, with some additional details:

11/01/2015 - DIP with Aldermore through MA
24/01/2015 - Viewed house but thought it was too expensive
29/01/2015 - Price lowered to within budget
02/02/2015 - Offer made and accepted same day
Skip forward 4 weeks waiting for vendor to find a new home.....
02/03/2015 - Chain is complete
03/03/2015 - Put in full mortgage application
05/03/2015 - Valutation took place
11/03/2015 - Valuation report back and all ok

Now we have been told it is a 48 hour turn around so tomorrow is D Day! This weekend is going to truly SUCK if its a no.......think positive thoughts, think positive thoughts!

Have you heard anything yet as my report went in same time and was hoping to hear back from them. Have not used a broker but went direct.

Hoping our applications are approved!

Westminster

Komorebi wrote: »

Joining the thread for any future people looking for Woolwich timescales.

12/3/15 - Application submitted

Not exactly far along yet! I've been given an estimate by the Woolwich mortgage advisor that the valuation should take place on the 30th March which is a bit far away for my comfort! The advisor says that the underwriting all takes place before valuation, and then once the valuers (Countrywide) are instructed, they have 48 hours to contact the EA and arrange a time. I'm hoping this was a very conservative estimate, but only time will tell.

Last time it took 2 days from valuation to mortgage offer.

That sale fell through due to our buyers pulling out.

Just had the SMS from Countrywide today with our new valuation so fingers crossed we will get our valuation by Tue/Wed next week.

Komorebi

Westminster wrote: »

Last time it took 2 days from valuation to mortgage offer.

That sale fell through due to our buyers pulling out.

Just had the SMS from Countrywide today with our new valuation so fingers crossed we will get our valuation by Tue/Wed next week.

Wow that's quick - sorry about the sale though, hopefully this one goes better!

I actually got a text today that the valuation had been instructed already, which is crazy (although I'm FTB so I have no idea what is unusual and what is standard). So it's now:

12/3/15 Application submitted
13/3/15 Valuation instructed - underwriting marked as complete on the tracking portal

thestumper10

Komorebi wrote: »

Wow that's quick - sorry about the sale though, hopefully this one goes better!

I actually got a text today that the valuation had been instructed already, which is crazy (although I'm FTB so I have no idea what is unusual and what is standard). So it's now:

12/3/15 Application submitted
13/3/15 Valuation instructed - underwriting marked as complete on the tracking portal

Sounds very similar to our experience with Woolwich so far, although ours was through a broker.


18/02/15 Application submitted FTB with HTB EL
19/02/15 Valuation instructed for 23/02
23/02/15 Valuation complete and all ok
25/02/15 Mortgage offered.


5 working days from full app to offer. Not sure we would have done it without a broker though as he has been brilliant.

Vestra

Halifax Mortgage papers came in the post yesterday!

3/3/15 - Met with broker to apply
5/3/15 - Surveyor out to revalue property as home report older than 3 months (this is in Scotland btw)
6/3/15 - Received updated home report
9/3/15 - Halifax notice a date wrong in home report
11/3/15 - Surveyor fixes date issue
12/3/15 - Broker confirms offer
13/3/15 - Papers through the post!

Even with issues that was very quick!

omarftb

Rbs 3 weeks in going on nearly 4 weeks no offer as of yet getting very annoyed valuation was on wednesday.

omarftb

Offer received in post today hurray been over 3 weeks from full application via rbs. Just waiting on la searches to come back which were paid for 2 weeks ago whats next after searches.

Westminster

Westminster wrote: »

Last time it took 2 days from valuation to mortgage offer.

That sale fell through due to our buyers pulling out.

Just had the SMS from Countrywide today with our new valuation so fingers crossed we will get our valuation by Tue/Wed next week.

Mortgage offer issued on the new property at lunch time - so Woolwich look pretty speedy!

bettywurzel

bettywurzel wrote: »

31/1/15 Sold our house. It had been on the market for 10 months so our DIP had long since expired. We had also stopped looking for somewhere to buy as everywhere that we liked had sold and we were stuck waiting for ours to sell.

12/2/15 Had an appointment to discuss mortgage application at Cumberland BS.

26/2/15 Cumberland BS told us that we failed their affordability checks

4/3/15 Appointment with broker who was very confident we could borrow what we needed to buy our forever home.

5/3/15 Offer accepted, solicitor instructed and appt made with broker to make full application.

11/3/15 Met with broker to make full application

12/3/15 Broker called to say application had been referred (due to a large loan being paid off with a chunk of equity)

16/3/15 Broker called to say mortgage application has been accepted! Also, solicitors called to say our sale is at the exchange stage. Eek!

Westminster

So to recap - here is the actual time line:

13/10/14 - Offer made on a property. Plenty of email flow between the broker and me.

15/10/14 - Once we gathered all the required documents and got them to the broker, formal application with Woolwich went into the initial assessment queue.

17/10/14 - Broker requests mortgage valuation fee

20/10/14 - Mortgage valuation instructed

28/10/14 - Valuation comes back at the offer price

29/10/14 - Woolwich request a few additional documents

30/10/14 - Mortgage offer issued at full amount requested (5x my salary although only 64% LTV)

11/11/14 - Our buyers pull out. We end up losing the first property (which, on reflection, was a good thing as it required so much work doing and the logistics of renting somewhere for a few months while the work was completed was causing me significant head aches). We briefly re-list but pull the house from the market over christmas and re-list (5% higher than before) in early January.

25/2/15 - We accept an asking price offer (from FTBs again - fingers crossed this time around!) for £17.5k more than the last time we sold.

27/2/15 - See another property (fall in love with it) and after a 2nd viewing 3 days later we decide to offer.

4/3/15 - after quite some negotiations, agree a price on the new property. Inform broker to start the ball rolling.

9/3/15 - Get back to the UK and phone broker with payment details for new mortgage valuation.

11/3/15 - Mortgage valuation takes place

13/3/15 - Got the SMS from Countrywide with the valuation - came in at asking price

16/3/15 - New mortgage offer received (fortunately rates have improved somewhat since our original DIP!!)