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

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!

Kwisatz

MissBizzita wrote: »

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.

Thanks for that MissBizzita! With your Leeds application, do you remember the rough timeline on how long it took between you submitting paper work and then hearing something back from them? Did you go through a broker?

MissBizzita

Yes, sadly it took a while but the Easter weekend was smack bang in the middle.

I went through a broker.

It took nearly three weeks, including weekends for them to actually assess all of the documentation for the first time. The valuation was booked in and took place the day after I submitted all the docs.

When they eventually got round to assessing the application they not only reduced affordability but they also queries a whole heap of direct debits, credits and outgoings on my bank statements.

Halifax on the other hand didn't query anything or ask for any more docs or information aside from the standard bank statements and pay slips.

Leeds seemed to be working at a frustratingly slow place, plus from everything I've read they have a very particular (some may say picky) underwriting process.

Hope that helps.

Kwisatz

MissBizzita wrote: »

It took nearly three weeks, including weekends for them to actually assess all of the documentation for the first time. The valuation was booked in and took place the day after I submitted all the docs.

This is what I'm having concerns about, I submitted all my documents on Tuesday 14th and then on the following Leeds BS took out £550 out of my account for the Homebuyer survey. I though great! It's progressing but I called up the Estate agents on Monday and they've not had a call from them to book the valuation in yet. I emailed my broker on Monday morning to let him know that they still haven't booked it in yet and he said:

"The lenders have passed the case to the underwriters for review and then will book the valuation, this only happened on Friday so it will still be a few days before they book in for a valuation. This lender isn’t the quickest and they do have a process which they follow so it is just a case of waiting unfortunately. Once they case is underwritten and a valuation has been carried out you will get a mortgage offer straight away."

Its now been 7 days since they've received anything and they still haven't booked it according to my estate agents. Any advice? The estate agents are getting antsy

Tarragondragon

Thursday here. Do I have a resolution, well sort of!

MA called Natwest and they've asked her for written confirmation of my partner's previous address, but apparently everything else is all ok. He had only moved to our current address just under 3 years ago and wasn't on the electoral register previously so I'm thinking that may be why.

Slightly annoying as it means we won't have a definite until after the weekend, but I guess it's fairly positive and a step in the right direction. Just have to hold on 'til early next week

Sparkle15

Tarragondragon, sounds like good news that they are ok with everything else. Annoying that you have to wait until after the weekend though. Fingers crossed you hear early next week.

MissBizzita

Kwisatz wrote: »

This is what I'm having concerns about, I submitted all my documents on Tuesday 14th and then on the following Leeds BS took out £550 out of my account for the Homebuyer survey. I though great! It's progressing but I called up the Estate agents on Monday and they've not had a call from them to book the valuation in yet. I emailed my broker on Monday morning to let him know that they still haven't booked it in yet and he said:

"The lenders have passed the case to the underwriters for review and then will book the valuation, this only happened on Friday so it will still be a few days before they book in for a valuation. This lender isn’t the quickest and they do have a process which they follow so it is just a case of waiting unfortunately. Once they case is underwritten and a valuation has been carried out you will get a mortgage offer straight away."

Its now been 7 days since they've received anything and they still haven't booked it according to my estate agents. Any advice? The estate agents are getting antsy

My broker was somewhat economical with the truth and incredibly slow replying to queries so in the end I took to contacting Leeds directly for updates. I don't know how good your broker is but if you're really concerned then there's nothing wrong with just giving Leeds a call...

feistyred

I just found out today my mortgage application was declined. So frustrated the reason? Because I paid off my debt! !!

In your case though, I wouldn't worry. My mortgage advisor told me if the valuation has been arranged the mortgage is pretty much approved. Unfortunately I didn't get to that stage