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

frogandcount

Dodds84 wrote: »

How did you find out it had been accepted?

Try ringing the estate agent if you ask they will let you know once the valuation has been booked.

mhuk01 wrote: »

Waiting for my mortgage decision from HSBC (had the formal application last monday). They said at the time I should have an answer by 15th, so I guess I'll be waiting by the phone all day

:eek: Good luck hope its a positive result.

frogandcount

progress so far
01/04/15 put in full application via broker for house a
24/04/15 evidence requested
28/04/15 all evidence sent
29/04/15 valuation instructed
07/05/15 valuation done
14/05/15 recieved valuation prblem with roof.
15/05/15 roof report decided to pull out
16/05/15 viewed house B
18/05/15 offer on house
21/05/15 offer accepted
22/05/15 application transfeed to new house and valuation fee paid (told no more evidence needed)
26/05/15 no news due to bank holiday
29/05/15 case has now been reference to previous application told they are behind
01/06/15 still no update chasing broker
03/06/15 asked for more evidence sent same day told valuation would be instructed
08/06/15 valuation still no instructed and EA want an update
10/06/15 valuation instructed
12/06/15 valuation undertaken
15/06/15 valuation back at 61k same as offer on house

Have been told my MA that it takes at least 3 working days for the bank to assess my application so i should hear back on Friday if i have an offer. Im hoping that the valuation coming back as the same as the offer we put on the house means that there will be no more problems.

spiritless

Thought I'd join in

27/4 DIP obtained with Halifax

1/6 property viewed, offer made and accepted
5/6 full application made
8/6 all requested paperwork provided
11/6 valuation carried out
15/6 mortgage offer issued

We haven't had a brilliant credit history, have a fair bit of debt still and only a 10% deposit. We are feeling very grateful for a good mortgage broker right now.

titch85

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!
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.
8/6 - NatWest have requested more documentation which was sent off today. Back into the backlog queue!
15/06 - Mortgage approved subject to valuation being okay! So happy!

Dird

Damn you London. So my appointment with Yorkshire BC went worse than expected but not a big disaster from what I understand despite being passed to underwriters. Issues:
1) While the estate agent mortgage advisor asked for a breakdown of my costs YBC just goes off national averages. Bit dodgy as a childless singleton living outside London. Before the meeting I had emailed them a full cost break down of my expenses which showed 25% left over per month to use as reserves if I lived alone.
2) My mom will live with me (sad ehh). I took the advice of people on here ("mortgage fraud") and declared this. This basically meant it had to go to the underwriters but as she's working 20 hours with OT (more like 39 hours) and I declared her not a dependent they agreed (for now? Chance of them changing their mind?).
3) Electoral roll/China. I lived at 3 addresses in 3 years. For some reason there's an electoral roll of me from 2011 (didn't vote) but nothing of me since then despite the fact I voted in the GE this year. They said a bank statement dated 2012 at previous address & a statement dated now at current will suffice. Handed in the 2012 earlier and just found a recent one for my mom to pass over Tomorrow...they refused printed slips. Even ones printed from the bank that was stamped and no mention of being from a website!

Also the guy was nice enough to point out that cash back "on completion" should actually be called "on commencement" as you get it paid at the start and so I changed from a 1.44% with no cash back to 1.54% with as it works out better.

frogandcount

spiritless wrote: »

Thought I'd join in

27/4 DIP obtained with Halifax

1/6 property viewed, offer made and accepted
5/6 full application made
8/6 all requested paperwork provided
11/6 valuation carried out
15/6 mortgage offer issued

We haven't had a brilliant credit history, have a fair bit of debt still and only a 10% deposit. We are feeling very grateful for a good mortgage broker right now.

congratulations on the offer. sounds like you had a quick turn around as well. hope the rest goes smoothly.

mhuk01

A quick update - my mortgage with HBSC has been referred to the 'High Value Lending Team' (my income is from abroad so it's a slightly complex case)... Looks like another few days waiting for me!

kep79

22 Feb - pushed note through door expressing interest in buying house in area
4 Mar - vendor replied, arranged viewing
18 Mar - viewed house
25 Mar - agreed price
Sometime in April - vendor found house and agreed price
Beginning of May - searches started by solicitor
11 May - passed credit checks for mortgage, mortgage approved subject to underwriting checks and valuation
12 May - application fully packaged by broker
18 May - checks on zero credit card balance
22 May - valuation instructed
1 June - valuation carried out
2 June - confirmation that valuation acceptable
15 June - FINALLY mortgage offer issued!

Now waiting to exchange - should be this week as everything else (searches/contract queries) are all done and dusted! Won't complete until end of July though due to vendor's circumstances.

charliewocka

Appeal has been submitted to TMW to raise the mortgage offer on the let to buy. We have listed comparable properties in the area that have been let in the past 180 days, provided a written commentary (read: essay!) and submitted EA valuation letter and Zoopla statistics to back us up. They were basing lending on £1200pcm but we know the area and this is far too low.


In fact, EA have come back to us this morning and asked if we could have somebody start a tenancy on 14th July as they have a couple wanting to move into the area and like the look of the property and are prepared to pay £1400pcm so this was hastily added to the appeals form. Fingers crossed!


I asked our broker to review the appeals form and provide comment to ensure that we have a strong case. Their only feedback was 'I've never appealed before' which doesn't fill me with confidence!


ETA: Just heard form broker to expect a decision in the next 7 days. We are both working overseas next week so argh!!!

RHYMESNME

Hi Mortgage waiting people,

I and partner applied through a broker for a 50% share 215,000 full value flat in late March and got an agreed DIP from Halifax next day which was great. The valuation was on the 21st April and offer 2 days later. Halifax added a middle name which did not existed so a search was done and correct name showing on 27th April.
Handover from Council to Developer done on 12th May which delayed things of course.
13th May searches ordered and all sorted just 4 days ago.
We received the lease again to sign in front of a witness on Saturday just gone and sent on Saturday which solicitors received yesterday.
Now this is the BLOODY annoying part, as the lease says we CANNOT buy further shares until after 2 years Halifax have to decide if they are happy with this, if they are not then the price of property may change to less or more which means they might not lend, if they are ok with this then they will agree to lend and then exchange of contracts and completion will start.
Bear in mind the lender can change their mind anytime up until completion, when exchange of contracts is done the buyer and or seller are in a legally binding contract, people.
It is a long process and I wish you all the best.

;o)

P.S

I have done my research on mortgages online several months ago, just before applying and whilst applying and still I continually do research.