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

Jpc1980

First time poster - currently trying to secure a Nationwide mortgage on a new build / Help to Buy property!!

4/3 - put our house up for sale
12/3 - Had an acceptable offer - but put them on hold until we found somewhere we liked
16/3 - found a newbuild that we could afford with Help to Buy
17/3 - spoke to Mortgage Advisor who took all our details and identified Nationwide as a potential lender
19/3 - Told we had AIP with Nationwide
19/3 - we accepted offer on our house and had offer accepted on new house
21/3 - completed HTB forms online/over phone
24/3 - HTB Equity Loan agreed and paperwork received
25/3 - completed Full Mortgage application, and sent off
26/3 - Text from Nationwide to say application received
27/3 - Text from Nationwide to say Valuation has been booked on the 27/3 (the same day so not sure if that's the date it had been booked - or that was the date has been booked for - the former presumably)
1/4 - Mortgage Advisor emails to ask us to send through evidence of a) my previous 2 years bonuses from work, b) current mortgage redemption figure and c) last months bank statement showing my salary being paid in. Sent this off tonight

Not sure what to expect next - I am gloomy at the best of times so fully expecting something to go horribly wrong - but does everything seem on track for a decision in the next couple of weeks do you think?

pl6pilgrim

Jpc1980 wrote: »

First time poster - currently trying to secure a Nationwide mortgage on a new build / Help to Buy property!!

4/3 - put our house up for sale
12/3 - Had an acceptable offer - but put them on hold until we found somewhere we liked
16/3 - found a newbuild that we could afford with Help to Buy
17/3 - spoke to Mortgage Advisor who took all our details and identified Nationwide as a potential lender
19/3 - Told we had AIP with Nationwide
19/3 - we accepted offer on our house and had offer accepted on new house
21/3 - completed HTB forms online/over phone
24/3 - HTB Equity Loan agreed and paperwork received
25/3 - completed Full Mortgage application, and sent off
26/3 - Text from Nationwide to say application received
27/3 - Text from Nationwide to say Valuation has been booked on the 27/3 (the same day so not sure if that's the date it had been booked - or that was the date has been booked for - the former presumably)
1/4 - Mortgage Advisor emails to ask us to send through evidence of a) my previous 2 years bonuses from work, b) current mortgage redemption figure and c) last months bank statement showing my salary being paid in. Sent this off tonight

Not sure what to expect next - I am gloomy at the best of times so fully expecting something to go horribly wrong - but does everything seem on track for a decision in the next couple of weeks do you think?

I believe you are correct. We had the text from Nationwide on 30/3 to say valuation has been booked on 30/3. Also had an email from EA to say valuation has been booked for 07/4. So guess Nationwide's text is a little misleading, but they are certainly working through them at a good pace. My broker advised that for broker led applications Nationwide have an average turnaround of around 9 working days, not sure how accurate his information is.

stalkah

My Nationwide application took a total of 6 working days however they were waiting on some paperwork from me for the first 3 days. That was via a broker

dats

Anyone going through the process with HSBC?

We've had verbal approval subject to valuation, which we paid for yesterday. Homebuyers report back, no surprises.

Wondering how long the survey will take and trying not to be impatient. And mostly failing :j

kingstreet

pl6pilgrim wrote: »

I believe you are correct. We had the text from Nationwide on 30/3 to say valuation has been booked on 30/3. Also had an email from EA to say valuation has been booked for 07/4. So guess Nationwide's text is a little misleading, but they are certainly working through them at a good pace. My broker advised that for broker led applications Nationwide have an average turnaround of around 9 working days, not sure how accurate his information is.

See post #13;-

https://forums.moneysavingexpert.com/discussion/comment/68052456#Comment_68052456

djedga

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).
28/3 - Land Registry plans received from solicitors to confirm plot requiring searches, instructed searches (also confirmation that draft papers have been received from sellers solicitors)
28/3 - T's & C's received in post from surveyors to sign and return
30/3 - Chased broker for update - nothing received
30/3 - Response from Nationwide, survey booked for 31/3, broker spoke to underwriter, no further info needed, mortgage offer is just pending successful survey.
30/3 - Searches on our purchase instructed
31/3 - Surveyor phoned to check any concerns on our intended purchase before he carries out the survey. Also checks regarding level of interest/competition when we offered (I guess to satisfy any potential concerns over valuation level etc).
31/3 - Our Estate Agent confirmed valuation on our property done, mortgage offer in post to our buyers and searches instructed by them.
01/4 - Homebuyers report received. Minor issues (lack of gas service report / electrical safety certificate / leaking conservatory roof which is being repaired under insurance). It's a modern house so these things should be fine.

No word back from the bank with an offer, but assume they only just have the valuation, which has come in at the price we offered with a caveat that "Our valuation is based on the satisfactory outcome of the investigations recommended earlier" relating to the gas and electricity.

Lilhobo

Still no valuation instructed, at least I can relax for the next 4 days as I know I definitely won't hear anything.

Jpc1980

Jpc1980 wrote: »

First time poster - currently trying to secure a Nationwide mortgage on a new build / Help to Buy property!!

4/3 - put our house up for sale
12/3 - Had an acceptable offer - but put them on hold until we found somewhere we liked
16/3 - found a newbuild that we could afford with Help to Buy
17/3 - spoke to Mortgage Advisor who took all our details and identified Nationwide as a potential lender
19/3 - Told we had AIP with Nationwide
19/3 - we accepted offer on our house and had offer accepted on new house
21/3 - completed HTB forms online/over phone
24/3 - HTB Equity Loan agreed and paperwork received
25/3 - completed Full Mortgage application, and sent off
26/3 - Text from Nationwide to say application received
27/3 - Text from Nationwide to say Valuation has been booked on the 27/3 (the same day so not sure if that's the date it had been booked - or that was the date has been booked for - the former presumably)
1/4 - Mortgage Advisor emails to ask us to send through evidence of a) my previous 2 years bonuses from work, b) current mortgage redemption figure and c) last months bank statement showing my salary being paid in. Sent this off tonight

Not sure what to expect next - I am gloomy at the best of times so fully expecting something to go horribly wrong - but does everything seem on track for a decision in the next couple of weeks do you think?

Latest is that our valuation/survey was carried out today according to our developer, and then had a text from NW confirming that they were waiting for a copy of the report.

Meanwhile the broker got in touch and told me that the mortgage statement I sent through last night was not in an acceptable format for NW. Didn't have access to a scanner at the time, so took photos of the statements, converted all 5 pages in to 1 PDF but the brokers administrator isn't having any of it! Will get it scanned and sent over tonight - but presumably it will be sat in their inbox until Tuesday now rather frustratingly.

See what next week brings!!

snudge01

Can anybody confirm that the term "I have escalated the case for offer" from the mortgage company to my broker is a verbal offer or are there still hurdles to jump? Maybe best suited for a broker to answer please.

Kryptothesuperdog

Just to update, completed and got keys on Tuesday. Just over 2 months from application. Could have been earlier buy seller held things up. Still feel like my reality and dreams have somehow been reversed.