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

lizards

Update - the part of our mortgage relating to us and our finances has been approved (PHEW) and we're now waiting on the valuation which should take place in the next few days. Big relief. No matter what happens now, we can get a mortgage on a house somewhere and won't be homeless!!

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.
24th March - (Tuesday!) Broker chases NatWest and confirms we've passed the affordability etc, now just waiting on valuation

djedga

The waiting is just beginning for us really, but it's horrible not knowing and not being able to do anything!

Whilst it should be pretty straight forward there are a couple of things that may hold it up..

1 - We are porting existing deal across and borrowing more with nationwide so a paper application which probably makes it a little slower.

2 - We had some loans / credit cards which we paid off from savings prior to submitting which may not show as paid yet.

3 - Part of the deposit is gifted and part is from equity so this may require additional proof to be sent.

Our Timeline So Far:

17/3 - Offer accepted and accepted offer on our current property.
19/3 - Full application sent to broker with payslips, P60s, bank statements, proof of gifted deposit form.
20/3 - Application sent by broker to nationwide (next day).
24/3 - The buyers survey was done on our current property.
25/3 - chased adviser for update on application.

We were told we would probably hear back by today receiving texts along the way at the key stages... but nothing received just yet so we just wait.

djedga

djedga wrote: »

The waiting is just beginning for us really, but it's horrible not knowing and not being able to do anything!

I just phoned our broker who had chased Nationwide earlier and they hadn't looked at our application yet. As soon as I got off the phone with him he had a call from them (typical I literally made a coffee and went back to my desk to find the phone ringing)!

Updated Timeline:

17/3 - Offer accepted and accepted offer on our current property.
19/3 - Full application sent to broker with payslips, P60s, bank statements, proof of gifted deposit form.
20/3 - Application sent by broker to nationwide (next day).
24/3 - The buyers survey was done on our current property.
25/3 - chased adviser for update on application.
25/3 - Credit score passed, Affordability passed. Initially wanted proof of bonuses for last two years. Broker asked them to re-key without bonuses as we should pass without, which we did so no longer required. Valuation instructed on our purchase (should happen in 4-5 days). Passed to senior underwriter (probably another 3-4 days until he gets to it).

Bit of a weight off my mind that it is progressing!!

djedga

Valuation fee taken today!

stalkah

djedga wrote: »

Valuation fee taken today!

Did you give card details to your broker at the time of the full application?


I noticed yesterday the fees had come out of my bank we made the full application on Monday Evening. This is with Nationwide too.

djedga

stalkah wrote: »

Did you give card details to your broker at the time of the full application?


I noticed yesterday the fees had come out of my bank we made the full application on Monday Evening. This is with Nationwide too.

Yep - our full application was a paper one as we are porting, so on the application form itself we had to include info for the direct debit and which cards we wanted any product or valuation fees to be taken from.

stalkah

Ahhh ok ours was online as for a new property, I assume they just took the valuation fee at time of application and it didn't show up until yesterday

katty2010

OK, this will be my last posted about getting a mortgage as I am now in the lucky position to be able to say I've now got my mortgage and my house, we completed today and I now have the keys in my hand. It's been super quick! My timeline of our experience is below.

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.
27th Feb - Leeds confirm Mortgage is approved, it will be received in the post by Tuesday.
2nd March - Solicitors instructed
3rd March - mortgage offer received in post
11th March - searches done, no problems. Queries made to sellers solictors regarding conservatory and a couple of other issues.
20th March - Sellers solicitors took over a week to respond! Exchange contracts date set for 25th, completion set for 26th.
25th March - Sign contracts, solicitors confirm we will exchange and complete tomorrow.
26th March - chase soliictors 5 times throughout day, no joy. 5pm comes and no keys. Promise to complete tomorrow, problems on the sellers side they say
27th March - 11am, EA's ring to say completion is done and keys are ready! Happy days

I must say Leeds building society have been great, they have been quick and easy although I did go through a broker. We used Taylor McPhee solicitors who were highly recommended by a lot of people we know personally and company's that we were dealing with. They got every thing done very fast and the fee was very reasonable comparing it to others.

Good luck everyone!

Lilhobo

One week since full app, extra documents supplied, now in underwriter queue.

p1nky

Does anyone know if nationwide process anything on a weekend? Had valuation yesterday. Just hoping the bank holidays don't delay us too much.