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

pinknfluffy28

Can I jump on board please?

15/5 Viewed a house that came up in the area we have always wanted to live. Put in a cheeky offer, which was refused, second offer was more realistic, and accepted the following day!

16/5 Dh called Santander for AIP, they refused us due to their "stress test" criteria. Basically "what if after the 5 year fixed, interest rates go upto 9%, currently you couldn't currently afford it". Wouldnt take into consideration the fact that dh's daughter from previous relationship turns 21 in 3 months, so that will be £400 a month child maintanance he is no longer paying out (meaning we could still easily afford their scenario of 9% interest rates!
Really knocked us for six, tears and tantrums from me, we consider putting off the whole moving thing for a few years.

17/5 We have the first viewer for our house. They offer us asking price the same day! Decide we need to try somewhere else.

20/5 Dh speaks to post office, arranged for advisor to phone him back in a week.

26/5 P.O advisor calls back, go through absoloutly everything with him, we have 15% deposit, and all personal debts/credit cards have been paid off. Advisor gives AIP.

28/5 AIP and full application received in post. Instructed solicitors.

29/5 Full application filled out, and along with all requested paperwork/documents, put back in post to them.

The santander refusal is still playing on my mind, I'm not confident (I'm a natural worrier anyway), but DH has already ordered some packing boxes etc, and our dd's have spent days going through paint charts and mentally decorating their new bedrooms.

I will have no nails left at this rate, I just have this really awful feeling something is going ti go wrong, and I doubt I will sleep much over the coming weeks!

Anyone have any idea how long post office usually take once you submit full application & documents?

justme1985

justme1985 wrote: »

Just had the call back from the bank :T not sure I quite believed what they said regarding the reason behind the wait and need to be requoted but have been requoted on a new rate, which is lower than the original so will save us some money apparently they will put a rush through to the underwriters to get the final decision.

My OH and I got a phone call from the underwriters on Friday to clarify (justify?) a few transactions. About 2 hours later the whole thing was done and we had our offer :jjust need to accept it now!

On to the next hurdle now (have a few questions with the solicitor). Glad this part is (hopefully) completed now!

Good luck to everyone with applications in.

Jon_B_2

pinknfluffy28 wrote: »

Can I jump on board please?

15/5 Viewed a house that came up in the area we have always wanted to live. Put in a cheeky offer, which was refused, second offer was more realistic, and accepted the following day!

16/5 Dh called Santander for AIP, they refused us due to their "stress test" criteria. Basically "what if after the 5 year fixed, interest rates go upto 9%, currently you couldn't currently afford it". Wouldnt take into consideration the fact that dh's daughter from previous relationship turns 21 in 3 months, so that will be £400 a month child maintanance he is no longer paying out (meaning we could still easily afford their scenario of 9% interest rates!
Really knocked us for six, tears and tantrums from me, we consider putting off the whole moving thing for a few years.

17/5 We have the first viewer for our house. They offer us asking price the same day! Decide we need to try somewhere else.

20/5 Dh speaks to post office, arranged for advisor to phone him back in a week.

26/5 P.O advisor calls back, go through absoloutly everything with him, we have 15% deposit, and all personal debts/credit cards have been paid off. Advisor gives AIP.

28/5 AIP and full application received in post. Instructed solicitors.

29/5 Full application filled out, and along with all requested paperwork/documents, put back in post to them.

The santander refusal is still playing on my mind, I'm not confident (I'm a natural worrier anyway), but DH has already ordered some packing boxes etc, and our dd's have spent days going through paint charts and mentally decorating their new bedrooms.

I will have no nails left at this rate, I just have this really awful feeling something is going ti go wrong, and I doubt I will sleep much over the coming weeks!

Anyone have any idea how long post office usually take once you submit full application & documents?

I think you have caused yourself a lot of in necessary heartache and delay for not involving a broker in the process. SIX days to have an advisor from the Post Office to call you back?! You could have engaged a broker and had an offer in that time, probably with another lender at a better rate.

I don't always think brokers are the answer and all too often on here the brokers always seem to suggest to engage a broker way too quickly (surprise), but you've gone all scattergun in your approach when for a few hundred quid you could have saved a lot of hassle.

pinknfluffy28

Actually, we did contact a (highly recommended) broker before applying to anywhere (as soon as we put ours up for sale). Spent 90 mins on the phone with him, was promised a call back within 3 days latest. 5 working days later, still not heard from him. Called again & he said he was overwhelmed with work at the moment but promised to get back within 48 hours.

Another 3 days passed with no contact, rang him again, again promised he was looking at our case now & would call back the following day.

Waited yet another 3 days with no contact from him, before going direct!

Not all brokers save worry, some just add to it!

MrsDB

Can I join in too?!

We viewed a new build development end of April and decided to go for a three bedroom property, out flat was under offer and waited until Missives were complete (in Scotland)

Applied for the mortgage 19/05/2015
Valuation was booked and done 29/05/2015
Mortgage adviser confirmed today its all approved!

Not moving into new build until Oct/Nov time however so living with friends until then...

ohdear66

ohdear66 wrote: »

Hiya! Just starting our remortgage journey so thought I would join in!


30/05 DIP from Barclays, gave MA every bit of paperwork we have (just in case) and when approved it only asked for 1 months payslips for me and nothing for my other half who bank with them. Does that sound right? MA said he will send bits to sign in the post and once I give him redemption figure he will send off full application. Anyone know how long Barclays take to sort valuation after submitting?

UPDATE!
01/06 Went into Barclays today to sign paperwork and submit full application. Within 1 minute valuation says complete as they have done an online valuation without the need to visit and now says preparing offer!!!! Surely it can't be that simple?!

Kimmykla

Quick update.....
In the exact words of my MA
MORTGAGE ACCEPTED SURVEYOR INSTRUCTED

Surveyor is due to go into property today.
Now Mrs negative again....does that mean we've passed all the credit checks etc. As MA stated the mortgage was with underwriters before I receive the last email.....I thought underwriters were last
:huh:

titch85

titch85 wrote: »

I'm a first time buyer and had a stressful few months. I've already gone through the offer stage but had to pull out due to my deposit not coming through (my parents are selling and the deposit is being gifted through the extra money left over).

22/05 - Original mortgage offer with Aldermore ran out
23/05 - New offer accepted (£2k less than original)
26/05 - Broker called Aldermore to see if we could extend the offer. Said yes but need to move quickly.
27/05 - Sent over latest payslip.
28/05 - Paperwork received and offer being worked on. Should hear by 1/6!

Updates:

1/6 - Aldermore have offered extension but won't lend as much as before. Broker had a look at NatWest and they will offer more at a better rate. AIP done and approved. Mortgage application completed and sent off today. Should hear in a week if it's been approved.

AMO77

After a rough time with Nationwide, I got a mortgage offer from Woolwich/Barclays today. 5 working days total from application to offer.
Wishing everyone a positive result and my sincere thanks to all those here who have given advice so freely. It is much appreciated

MarkT1

MarkT1 wrote: »

Thought I would join in, I am a (very nervous) first time buyer going through a broker to Halifax (buying directly from landlord). Timeline so far:

20/05 - DIP and application submitted via broker
21/05 - Additional documents (proof of deposit) requested and submitted
22/05 - Additional documents submitted to Halifax
28/05 - Voicemail from broker advising that application accepted subject to valuation

Waiting on the valuation now, hopefully I can get the valuation booked next week, keeping my fingers crossed!

After chasing Colleys for the valuation it is now booked in for this Friday, keeping everything crossed now!!