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

BaileyMoselle

Six weeks and I finally have the offer from Natwest. Thank goodness for the mortgage broker profession.

lizards

I should probably join in here. Stunned at Komorebi's speed though, wow! Very jealous!! :-)

Anyway, we're waiting on a 95% LTV with HTB (non-equity) for a very high mortgage value. We've been saving a deposit from scratch in rented due to a negative equity situation with our last house a few years back which we finally paid our way out of so we could relocate.

Affordability is not an issue according to our broker so long as the lender considers all of my husband's somewhat complicated pay package. Clean and excellent credit history aside from, and I am furious with myself, going over by credit limit for a day by a few quid on my credit card back in December due to an interest payment taking me over. Entire balance cleared the next day, it was just sloppiness on my part with the Christmas shopping and getting too close. It's not marked as a default however, nor was I fined, so there is that.

We're in a particularly stressful situation as our landlord wants to sell the house we're in asap as we found out last week (after we'd started the process). We've been offered the place but it's a bit small for our needs so we have an accepted offer on another, chain-free place. There's no rental places, literally nothing over two beds in the area at all, and we have four children - three in the local primary. So we have no idea what we'll do if we can't get a mortgage. Cry lots!

7th March - Offered on house and accepted
9th March - Broker submitted DIP through NatWest, accepted.
9th March - Full application submitted, inc 3 months bank statements/payslips and two P60s
16th March - NatWest ask for an extra payslip from March 2014 - we're told "Friday or Monday"
20th March - NatWest confirm receipt of payslip(!) - tell us Tuesday we should hear.

Our broker is optimistic and says Santander or Halifax may work if NatWest don't, but NatWest have the best rate. But I don't know how much more my nerves can take if NatWest say no!

I hate all this pushing back of timescales! I know it's necessary but when you're terrified of being without a home anywhere in the vicinity, it really messes with you.

pookied87

23/01/15 APPROACHED BROKER
29/01/15 FULL MORTGAGE APPLICATION..OFFER ON HOUSE ACCEPTED
04/02/15 SURVEY CARRIED OUT
09/02/15 NATWEST DECLINED OFFER
10/02/15 NEW APPLICATION WITH NBS
Had Nothing but Issues Due to myself Not being on Electoral roll so Partners Going on a new application with Newcastle Building Society.
They are happy to just take me off but they keep coming back with requests for more documents, I must say Necastle BS have been very patient so now we are Waiting on experian security code so we can print full report. Then hopefully that will be it!! done with this mortage stuff already!

BaileyMoselle

Who ever though just waiting for an answer could be so exhausting! I never want to go through this again. A six week torture. Now the offer is with solicitors I now have to wait for conveyance concerns to be answered. Waiting once more...

whysoserious13

whysoserious13 wrote: »

UPDATE:

26/2/15 - Contracts exchanged. Completion date set for 19th March. 3 weeks of hopefully hearing nothing from solicitors!!

UPDATE.

Completed on 19th as planned! Keys picked up at 11am.

Vok_2

Hi all,

I am a FTB, please I will like to join you

24/02/15 - Found Mortgage Advisor (MA)
27/02/15 - Meet with MA to discuss my options
04/03/15 - Applied and got AIP (Virgin Money)
07/03/15 - Viewed property
10/03/15 - Made an offer on property £10k below asking price
11/03/15 - Offer accept
12/03/15 - Instructed Solicitor
13/03/15 - Received Sales memorandum from EA
16/03/15 - Met with MA and put in full mortgage application
20/03/15 - Found out Virgin declined my application
20/03/15 - Applied to Leeds Building Society for a DIP
22/03/15 - Still waiting for decision on DIP

lizards

That sounds extremely stressful, Vok. Did you find out why your application with Virgin was turned down? Lots of luck with Leeds.

BaileyMoselle - I agree - just waiting for an answer is exhausting even if you're not physically doing anything! I have no motivation to do much except fret over this..

Vok_2

Lizards, honestly I have aged 10yrs in the last 2wks. Lol.

Something about my default that they did see during the AIP stage.

Fingers crossed it all goes well with Leeds. Dont see me doing this again in a hurry

katty2010

Here's our progress so far, we are FTB. Sorry it's a bit long!

31st Jan - saw advert for house
2nd Feb - DIP agreed by Santander (direct). Viewed house and we immediately put in an offer £3k below asking price
3rd Feb - Offer accepted
5th Feb - Full app submitted to santander
6th Feb - App declined due to adverse credit (1 default from 2012)
9th Feb - Contacted a broker.
11th Feb - Appointment with broker, DIP given by Leeds and full app submitted by broker 12/02.
16th Feb - Leeds request proof of overdraft facility as it's not shown on statements and the account has been overdrawn. Proof was sent back same day.
18th Feb - Leeds request clarification on what a certain D/D is for and apply to employers for references. We chased the refs we our employers and send D/D clarification back same day.
23rd Feb - employers send back ref. Leeds confirm they have got it.
24th Feb - Valuation takes place
25th Feb - Leeds confirm they have the valuation and will be back to us in 48 hours. If everything OK we should get mortgage offer in post by Tuesday 3rd March.

I'm playing a waiting game now! Not instructed any solicitors or paid any fees as yet so that's all to come once we have our offer!

Good luck everyone

katty2010 wrote: »

Update! Valuation was fine. We got our mortgage offer today! It was posted out yesterday. So pleased, and can instruct the solictors and enjoy the weekend now.

Update, searches done, all fine. Exchange of contracts planned for Wednesday 25th March and completion set for Thursday 26th March.

I'm being told by family members that nearly everyone always completes on a Friday, is that true?

Does this mean we'll get the keys on Thursday? Also, they haven't mentioned about when they'll take the funds for the deposit, will this be when contracts exchange?

Thanks

Landofwood

katty2010 wrote: »

Here's our progress so far, we are FTB. Sorry it's a bit long!

31st Jan - saw advert for house
2nd Feb - DIP agreed by Santander (direct). Viewed house and we immediately put in an offer £3k below asking price
3rd Feb - Offer accepted
5th Feb - Full app submitted to santander
6th Feb - App declined due to adverse credit (1 default from 2012)
9th Feb - Contacted a broker.
11th Feb - Appointment with broker, DIP given by Leeds and full app submitted by broker 12/02.
16th Feb - Leeds request proof of overdraft facility as it's not shown on statements and the account has been overdrawn. Proof was sent back same day.
18th Feb - Leeds request clarification on what a certain D/D is for and apply to employers for references. We chased the refs we our employers and send D/D clarification back same day.
23rd Feb - employers send back ref. Leeds confirm they have got it.
24th Feb - Valuation takes place
25th Feb - Leeds confirm they have the valuation and will be back to us in 48 hours. If everything OK we should get mortgage offer in post by Tuesday 3rd March.

I'm playing a waiting game now! Not instructed any solicitors or paid any fees as yet so that's all to come once we have our offer!

Good luck everyone


Update, searches done, all fine. Exchange of contracts planned for Wednesday 25th March and completion set for Thursday 26th March.

I'm being told by family members that nearly everyone always completes on a Friday, is that true?

Does this mean we'll get the keys on Thursday? Also, they haven't mentioned about when they'll take the funds for the deposit, will this be when contracts exchange?

Thanks

Sensible people don't complete on Fridays. If there's a problem, you'll have to wait until Monday to speak to your solicitor.

You get the keys when you complete.