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

Kwisatz

Hey Ruby,

I emailed the additional docs over to him and said I had to call because I wasn't sure what was going on. Going to call shortly and ask if he got them and has forwarded it on. I understand that he's busy and I'm not his only client but he really needs to up his game I feel especially as this has delayed the process by 3-4 days. Going to ask about the set up and how he gets updates from them (i.e. is it an online tracker or if he needs to call them) and find out where the delays would be that can be avoided.

Update: He's not in today Going to have to call him on Monday. booooo

Navybird

How did it go for you? We got an AIP put an offer on a property and all good. I had to chase the advisor after 2 weeks of nothing to be told it's with the underwriters and there was a small issue with my credit score but I declared everything at application and now they're not sure if they want to lend to me? So scared we're going to loose our house and let the seller down!!! They said because I have 3 late payments on my credit ca 12 months ago and a default I declared and still passed the credit check that there is an issue??? But I passed the credit check and have a huge deposit of 25%?

In_For_A_Penny_2

I’ll join in - hope that’s OK – helps to know others are going through the stress of it all. FTB so here goes

01/12/ 14 Actively looking to buy
22/02/15 Applied online to Nationwide for DIP
17/04/15 Offer accepted house (chain free)
23/04/15 Rejected for DIP Nationwide ☹
23/04/15 Approached broker
24/04/15 Halifax DIP approved
26/04/15 Full application to be submitted to Halifax


Broker has asked Halifax to postpone valuation until underwriting is done just in case of any hiccups.

KayFTB

Hey all .... I'm new to this but have been reading the thread for a while. I've finally managed to pluck up the courage to contribute

So some info about me:
- employed part time basis, salary £22,250
-2 defaults from 2012 (natwest overdraft and credit card, settled 2012..student days!)
- some missed payments and 2 payday loans from 2012 - not the best financial year.
- first time buyer - couldn't tell you the first thing about buying a house

My timeline:
- 23/3/2015 - met with broker to discuss likelihood of mortgage as I wasn't confident due to my poor credit history. Experian rated my score as good whereas equifax scored my score as poor. I supplied 3months wage slips, 3 months bank statements and ID. AIP received later that day!

- 29/3/15 - identified property, however it is a repossession.
-14/4/15 - offer accepted on property.
- 15/4/15 - discussed mortgage quotes with broker...Halifax application submitted.. £280 taken out later that day for valuation by Halifax. Valuation booked for 22/4/15. Halifax requested one payslip.
- 22/4/15 - valuation completed.
- 23/4/15 - £250 to solicitors to start searches.
- 24/4/15 - valuation report received, all good.

- 25/4/15 - telephone call from EA to advise a higher offer has been placed... Absolutely gutted::( .. I could not concentrate at work and still feel defeated. Discussed with broker and put in a slightly higher offer, awaiting to hear outcome.... I really want this house but I understand that I have to be sensible... Even though it hard...

- 26/4/15 - mortgage offer received in post.

I could not sleep worrying about the mortgage, whether I was going to get approved or not... Now that I have it's hard for me to jump for joy because I may not even get the house life is so strange... Spend your time worrying about one thing, you forget other things can go wrong.

Kay

Kwisatz

Navybird wrote: »

How did it go for you? We got an AIP put an offer on a property and all good. I had to chase the advisor after 2 weeks of nothing to be told it's with the underwriters and there was a small issue with my credit score but I declared everything at application and now they're not sure if they want to lend to me? So scared we're going to loose our house and let the seller down!!! They said because I have 3 late payments on my credit ca 12 months ago and a default I declared and still passed the credit check that there is an issue??? But I passed the credit check and have a huge deposit of 25%?

Hi NavyBird, it might be worth calling up your potential lender directly and they'll tell you what's what. They might be awaiting other information which hasn't trickled down from your broker.

There should be a not sure that they want to lend to you - it should really be either a yes or a no. Call them and find out! Leeds BS were actually quite pleasant to talk to rather than the 'why are you calling us if you've got a broker' that I was expecting. They helped explain everything and gave me timelines.

An update with my case.

31/3/14 - Offer accepted
8/4/14 - After much messing around around what I can get and a bank holiday weekend I signed up to a broker and he sent my details over and I got a AIP from my Leeds BS.
14/4/14 - More information sent over to Leeds BS
15/4/14 - Charged for the valuation fee
24/4/14 - More information sent over after I went directly to the lender to find out where we were up to on the application.
27/4/14 - Called the lender to see if the valuation has been instructed yet and but assured me that they would do it right now. Going to call up surveyors up after 4pm to see if they've received it and have called my EA.

Just found out the surveyors that Leeds like to use are e.surv and after a bit of googling it seems like they have a tendency to undervalue properties which could either lead to reduced lending or a reduced price. Lots more to stress about. Yaaay!

Jason_Bourne_2

KayFTB wrote: »

Hey all .... I'm new to this but have been reading the thread for a while. I've finally managed to pluck up the courage to contribute

So some info about me:
- employed part time basis, salary £22,250
-2 defaults from 2012 (natwest overdraft and credit card, settled 2012..student days!)
- some missed payments and 2 payday loans from 2012 - not the best financial year.
- first time buyer - couldn't tell you the first thing about buying a house

My timeline:
- 23/3/2015 - met with broker to discuss likelihood of mortgage as I wasn't confident due to my poor credit history. Experian rated my score as good whereas equifax scored my score as poor. I supplied 3months wage slips, 3 months bank statements and ID. AIP received later that day!

- 29/3/15 - identified property, however it is a repossession.
-14/4/15 - offer accepted on property.
- 15/4/15 - discussed mortgage quotes with broker...Halifax application submitted.. £280 taken out later that day for valuation by Halifax. Valuation booked for 22/4/15. Halifax requested one payslip.
- 22/4/15 - valuation completed.
- 23/4/15 - £250 to solicitors to start searches.
- 24/4/15 - valuation report received, all good.

- 25/4/15 - telephone call from EA to advise a higher offer has been placed... Absolutely gutted::( .. I could not concentrate at work and still feel defeated. Discussed with broker and put in a slightly higher offer, awaiting to hear outcome.... I really want this house but I understand that I have to be sensible... Even though it hard...

- 26/4/15 - mortgage offer received in post.

I could not sleep worrying about the mortgage, whether I was going to get approved or not... Now that I have it's hard for me to jump for joy because I may not even get the house life is so strange... Spend your time worrying about one thing, you forget other things can go wrong.

Kay

Love reading success stories like this.
I know you didn't get the house but great news your full application was successful.


I'm just starting a full application with Halifax just now and also have historic defaults.

Fingers crossed

Tarragondragon

Thought I'd update my timeline while I go slightly crazy waiting

Middle of Feb: Initial meeting with MA to discuss money, do KFIs, etc. Suggests we go with 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
07/04: Contacted MA re: any news
15/04: Contacted Natwest, they require further info. Send updated Bank Statements to MA and request HRMC fax SA302 (since the first lot got lost in the post 8 weeks ago!)
16/04: MA lets me know she's passing further information onto Natwest today.
20/04: MA confirms Natwest have our stuff and will contact them on Thursday to see whats happening
23/04: MA calls, Natwest are happy with all our info (yay minor victory). However, they require my partner's previous address (he moved in with my just under 3 years ago) in written format from her)
25/04: Received Fixtures & Fittings list and Land Registry info from Solicitors, he also informs us that he has the vendors contract in hand.

Not sure why they didn't ask for the extra sets of info at the same time, so we're delayed another week. Hopefully we should find out on Wednesday if we're good to go, declined, or if they require yet more information.

Sparkle15

Glad to say that i am now able to update my time line with some good news.

21.03.15 - MIP agreed with Natwest (via broker)
01.04.15 – Offer accepted on home
02.04.15 – Organised our solicitor
04.04.15 – Full application sent to Natwest
07.04.15 – Memorandum of sale rec from EA.
21.04.15 - Extra information submitted (proof of deposit)
27.04.15- Call from EA saying that valuation will be taking place this week either Thu-Fri

Now just waiting to hear how the valuation goes, but i feel so much better getting the underwriting part out of the way

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.

28/4/15 Full application submitted
28/4/15 Mortgage fee taken from account by Halifax
28/4/15 Looked through files already and Requested last 3 SA302's (only gave them 1) + wages slips etc)


Surprised to get a call so quick for further information, only trouble is I'm waiting on my SA302 for 2014-2015 which can take weeks...

Tarragondragon

Good news, just had a call from my MA. Everything is good to go, mortgage approved!

However Natwest couldn't process my payment for the valuation as my card number has changed... quick phone call to them and it all sorted.

Fingers crossed for the valuation.