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

Tarragondragon

Hi all, newbie here too, were FTB, luckily with very little outgoings and no dependants. Staying with my parents while the process happens.

Currently awaiting the outcome of our mortgage application. Our timeline is as follows:

Middle of Feb met MA, Gave her all our details, payslips etc. - affordability passed. AIP received for Santander.
End of Feb: put in 3 offers on a house, all refused - back to the drawing board
14/03: Viewed a house, with potential. Owners father was there so we couldn't get a proper look around!
21/03: Second viewing, much better... Decide to put an offer in.
24/03: first offer refused - it was 10.5k, under but you have to try!
26/03: second offer put in - refused within 10 minutes!
27/03: final offer placed and refused. £1k under what she wanted, £6k under asking. EA is frustrated and takes the vendor 'window shopping' to get her on board
30/03: offer accepted! We visit our MA who has all our paperwork ready to submit our mortgage application with Natwest (was a better fit for us, I bank with them and have multiple incomes)
02/04: MOPS received

We're still playing the waiting game. I contacted my MA yesterday to see if the was any progress. All I can do is worry, my partner works for an estate agent and keeps telling me horror stories of properties falling through

Sparkle15

Tarragondragon wrote: »

Hi all, newbie here too, were FTB, luckily with very little outgoings and no dependants. Staying with my parents while the process happens.

Currently awaiting the outcome of our mortgage application. Our timeline is as follows:

Middle of Feb met MA, Gave her all our details, payslips etc. - affordability passed. AIP received for Santander.
End of Feb: put in 3 offers on a house, all refused - back to the drawing board
14/03: Viewed a house, with potential. Owners father was there so we couldn't get a proper look around!
21/03: Second viewing, much better... Decide to put an offer in.
24/03: first offer refused - it was 10.5k, under but you have to try!
26/03: second offer put in - refused within 10 minutes!
27/03: final offer placed and refused. £1k under what she wanted, £6k under asking. EA is frustrated and takes the vendor 'window shopping' to get her on board
30/03: offer accepted! We visit our MA who has all our paperwork ready to submit our mortgage application with Natwest (was a better fit for us, I bank with them and have multiple incomes)
02/04: MOPS received

We're still playing the waiting game. I contacted my MA yesterday to see if the was any progress. All I can do is worry, my partner works for an estate agent and keeps telling me horror stories of properties falling through

Its the waiting that is so difficult i keep asking my husband to check his bank account and see if the valuation fee has come out. This is silly though as i am sure they would tell us prior to taking it out. My husband is so relaxed about everything, wish i was more like him.

Tarragondragon

Just checked my experian and equifax reports. Experian have searches for 30/03 and equifax has one for today that says "subsequent (or follow up) search". Hope it's nothing to worry about

We were told 3-4 day turn around, but I figure with bank holidays and such it'll lengthen the process

Jpc1980

Jpc1980 wrote: »

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!!

UPDATE

What a disappointing end to this week! Don't seem to have got anywhere - albeit a 4 day week!

On Wednesday my brokers administrator emailed querying what a deduction on my payslip was (Childcare Vouchers which I had previously advised them about) and then on Thursday I was asked for another copy of our marriage certificate (NW apparently weren't happy that it was a photo that I sent originally - had to scan it and send it again).

Today - heard absolutely nothing so I guess this will slip in to next week now.

Feeling rather frustrated and starting to worry something is amiss - asked for feedback from our broker as to how they felt it was going and have heard nothing

I can see why house moving is listed in the most stressful life events top ten!!!!

mamaberry

Hi everyone,

Second time time buyer also nervously waiting! Mortgage rules have changed massively since we last purchased 10 years ago.
We had AIP with HSBC however on completing the application they changed their criteria restricting us to an 18 yr term rather than the 30 years in the AIP we agreed. Strangely enough declined on affordability.

We then went through a broker and had AIP with Leeds Building Society on 27/3. All of the paperwork was scanned over to the broker who submitted it on the 30/3. Leeds took the money for their valuation on 02/04 and now we are still waiting for them to even look at the application. Apparently we were 5th in their queue today but heard nothing and starting to feel like I'm being strung a long like an idiot. I've had to pay up for searches to keep our sellers on side but worried we could lose the lot if leeds don't pull their finger out.

lizards

Sparkle15 wrote: »

Hi bilbo85 I cant believe how nervous i am. I checked my equifax account yesterday and Natwest did 2 more soft credit searches, they have now done 3 soft credit searches and 1 full credit search (at DIP stage). I am hoping its not a bad sign that they are looking at my credit file a lot? Good luck to you Bilbo, keep us informed.

Hi Chondro13, sorry i cant answer your question, but good luck with everything.

That's exactly the pattern we had with ours and they accepted us. I was beginning to think they'd got bored and just kept hitting F5 on my credit file for the sake of it one afternoon. Seriously, why the need to check three times in a day as we had? It won't change, guys..

bilbo85

Hi Sparkle and Taragon,


Its definitely a waiting game isn't it!


Although, we had some good news today. Mortgage Advisor emailed and told us he had received confirmation today that our mortgage application has been accepted by Santander and the valuation has been instructed today and should happen early next week.


PHEW!!!! All in all, not too long a process for us, time from mortgage in principle being issued to full application being submitted was 3 days and time from full application being submitted to valuation being instructed was also 3 days. Thanks Santander


Just hoping they value the house at the price we've offered now, otherwise we're slightly stuffed as I know our vendor wont budge, as we already knocked 2 grand off the price!


We still haven't instructed solicitors though, going to wait for valuation to come back before we start promising cash to the lawyers!!

airyfairy76

bilbo85 wrote: »

Although, we had some good news today. Mortgage Advisor emailed and told us he had received confirmation today that our mortgage application has been accepted by Santander and the valuation has been instructed today and should happen early next week.


PHEW!!!! All in all, not too long a process for us, time from mortgage in principle being issued to full application being submitted was 3 days and time from full application being submitted to valuation being instructed was also 3 days. Thanks Santander

That's good to hear bilbo - my application is with Santander and went in this week, so hopefully won't be kept in agony for too long!!

Tarragondragon

bilbo85 wrote: »

Hi Sparkle and Taragon,


Its definitely a waiting game isn't it!


Although, we had some good news today. Mortgage Advisor emailed and told us he had received confirmation today that our mortgage application has been accepted by Santander and the valuation has been instructed today and should happen early next week.


PHEW!!!! All in all, not too long a process for us, time from mortgage in principle being issued to full application being submitted was 3 days and time from full application being submitted to valuation being instructed was also 3 days. Thanks Santander


Just hoping they value the house at the price we've offered now, otherwise we're slightly stuffed as I know our vendor wont budge, as we already knocked 2 grand off the price!


We still haven't instructed solicitors though, going to wait for valuation to come back before we start promising cash to the lawyers!!

Fingers crossed for you!

I just feel like it's dragging. Our MA told us that Natwest has a 3-4 working day turn around. Assuming she submitted out paperwork on 01/04, they've had our stuff for a good 5 working days now. I'm hoping it's just an Easter delay as my credit reports show activity that they've looked at it. I just don't want to give the vendor of our property any excuse to get cold feet.

Georgiecoh

Maybe this might out your mind at rest.
I put my application through with Natwest on the 2nd and I only got through to valuation stage today. It could be something as simple as they need extra info (Natwest definitely like extra info , they ask for it a lot) they also have a tendency to 'forget' to tell you things (I had that issue)
I suggest calling them directly.. They have been wonderful informing me about things and and explaining the process etc! Even though I have gone through a broker, they have been happy to speak to me.