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

hohum

Ok now I'm more twitchy - we've had valuation back and fortunately they valued at offer price. So now it's with the underwriters. I know that the issue with my income has been resolved, but now I'm imagining all of the other things that could go wrong! The valuation was carried out on the 7th, why haven't I heard anything back I'm now wondering and my mind is turning to another ridiculous underwriter issue. Being self employed/ having any income set up that isn't 'employed' is certainly making life interesting.

Solicitors won't start any process until we get offer (they're no sale no fee so I understand why) but I can also see issues ahead with an extension and lack of a completion certificate, which was identified on homebuyer report. I've had a professional look at it and I'm not worried about it structurally but it could slow completion. If we actually ever get to even exchanging...

Fortunately estate agent and seller are pretty relaxed and it's a vacant property. As we put our offer in JANUARY that's a good thing I think!

Oh, and has anyone been amused by surveyor speak in their homebuyer report? There's a lot of panelling and some built in things in one of the rooms and the surveyor noted he couldn't get access. 'Because of that enormous carbuncle' was the subtext, I'm sure. Also 'I believe that most purchasers would wish to refit the bathroom' ya think? Needless to say the property requires a bit of work.

airyfairy76

Car1980 wrote: »

I'm a bit rusty on the process, but everybody's timelines seem no different from before MMR? I thought 2 hour telephone interviews with the mortgage provider were the norm now, even when using a broker?

I'm just waiting for my formal offer to arrive in the post from Santander. I have a broker and bar a lunch meeting with him to go through my finances some time ago, I was completely uninvolved. In fact, no direct contact with Santander at all yet! I was asked for one extra payslip from 2013 - the only other email I had during the formal application period was to tell me that the offer was in the post!

hohum

airyfairy76 wrote: »

I'm just waiting for my formal offer to arrive in the post from Santander. I have a broker and bar a lunch meeting with him to go through my finances some time ago, I was completely uninvolved. In fact, no direct contact with Santander at all yet! I was asked for one extra payslip from 2013 - the only other email I had during the formal application period was to tell me that the offer was in the post!

We definitely haven't had any contact with the lender, apart from through the broker we're using. I've met with broker (for ID verification as much as anything) and gone through finances at length with him, but no lender. MMR is having an effect in terms of lending and what evidence they request.

jagger86

*update*

Survey was done last Wednesday, MA called Thursday to say mortgage had been offered...received it in the post today!

So happy and relieved, things were delayed due to a fraudulent payday loan default which we had to get removed - fortunately our sellers were prepared to wait. Plus our bank accounts are quite erratic and I'm on maternity leave and my full pay has ended so thought that may cause issues. Not sure if there were any our MA sorted everything!

Now just to wait to complete :-)

betsy123_2

our valuation came back requesting more reports which are a tree report along with a damp & timber report


timeline below


Date Decision In Principle received- 2/3/15
Date application received -9/3/15
Date minimum submission recived- 18/3/15
Date valuation insructed- 01/4/15
Date vauation recived- 14/4/15
Date tree damp & timber report instuicted- 17/4/15
Date tree report carroed out- 21/4/15
Date damp & timber report carried out- 22/4/15

Jason_Bourne_2

DIP with Halifax via broker, pretty nervous about everything due to past credit history.
Broker assures me that as all my credit blips were declared at DIP stage and all my income/outgoings are accurate then this will go through...




Updated timeline for me
19/3/15 DIP with Halifax
26/3/15 My house goes on market
13/4/15 Offer accepted on my property
15/4/15 Offer made to purchase
16/4/15 Offer accepted for purchase of house
21/4/15 Sent proof of income, statements etc away to broker for full application to begin.

selhurst_sound

Just thought I'd add my so-far simple journey with NatWest, after going to them direct after our L&C broker messed up our original application with a different lender.

17/4 - completed full application with NatWest Mortgage Adviser in branch
21/4 - received call from the MA to say that underwriters have approved it subject to valuation, which should be booked today/tomorrow

Not a bad turnaround! Assume it has helped that we both both with NWB already and all salary & commitments go through our accounts so we didn't need to provide any supporting documents. Probably one of the more straight-forward cases (if there is such a thing).

binerds81

Reading some really great news and varying timelines - as someone who is about to submit a full application - can anyone tell me if they have had a recent successful application with the Halifax with non-perfect credit? I am panicking already even before submitting the paperwork!

Kwisatz

Quick question, would it be wrong if I went directly to the lender to ask the progress of my application even though I went through a broker?

Not heard anything in over a week when we submitted all my paper work. The estate agents are asking when the valuation is getting booked. With Leeds BS if that makes a difference

MissBizzita

Just had confirmation that my offer has been issued and have received a copy by email! Such a relief.

I originally applied to Leeds who reduced affordability by £60k because they classed my boyfriend as a dependent.

This time round with Halifax it ha taken less than a week including the weekend from application to offer.

Full docs submitted last Thursday, valuation yesterday, offer today.

I have no defaults on my file but consistent use of overdraft until about a month ago and some outstanding balances on credit cards (total £4k) that need to be repaid with the proceeds of the sale of my flat.

I just wanted to put some people's minds at rest that with that kind of history, it still is possible to get a mortgage. As I know I was trailing through posts and worrying myself silly that I wasn't a complete Saint when it came to credit!

Good luck everyone!