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

superfast808

superfast808 wrote: »

25/05 Application "accepted" and passed on to underwriting queue. Nervous is not the word! Solicitors appointed.

So, 29/06 - Underwriters reply asking for clarification - would parents be moving out when I move in (Yes), and is my O/H be financially dependant on me (No).

So I guess its off to the back of the underwriting queue. That's all they have asked though.

Sedge123

Mortgage offer received from nationwide today. Two weeks and one day do quite pleased it's all sorted. I'll be happier when we get the hard copy in the post though!

Shashika20

Anyone here who got their offer turnerned down because of having your maidn name on your passport and married name one your payslip. Dont know what to do and it has been 3 weeks and no decision has given yet

g40lew

Shashika20 - My wife had her maiden name on her passport but everything else is in her married name. We had to send a certified copy of our marriage certificate to our broker and solicitor. We have just had our mortgage offer.

superfast808

superfast808 wrote: »

So, 29/06 - Underwriters reply asking for clarification - would parents be moving out when I move in (Yes), and is my O/H be financially dependant on me (No).

So I guess its off to the back of the underwriting queue. That's all they have asked though.

01/07 - Application Agreed By Underwriter. Valuation instructed.

Shashika20

G40law. Thank you so much. Hope things will turn out to be good. Felt so mich better after reading your reply

nonnatus

I feel sick every time I think about the Mortgage .

Full application received by MA last week and sent to Underwriters on Friday 27th. I know that realistically I have a good two weeks of waiting ahead. And as MA said, it really could go either way....

Does anyone know - do the Underwriters go to the bother of instructing the Valuation Survey if they are going to turn down the mortgage? In other words, if our Vendors get in touch to say the survey has been booked with them, could we take it as good news maybe???

Shashika20

Hi g40lew

Hiw long it took for you to get your mortgage offer. Was it Halifax.

glasgowmoneyman

Thought I'd post our story here to give reassurance to others in the same situation as us!

My income: £40550 (only been in current position for 3 months)
Fiance's Income: £12000 (owns her own company, only £5500 is salary)
Credit Card Debt: £7500
Car Loan 1: £240 per month
Car Loan 2: £140 per month
No kids, no dependents.
Credit history very good with no defaults or late payments and a long history of managing credit cards and loans.
Deposit Saved: £10000

Timeline:

21/05/15: AIP approved from RBS (our own bank) for purchase price of £170k with a £10k deposit
26/05/15: Viewed house, loved it.
27/05/15: Instructed solicitor to make an offer at the fixed price of £165k
28/05/15: Offer accepted
28/05/15: Try to arrange appointment with bank for full application before we go on holiday on the 04/06/15. Not possible. Arrange for the first day back, 19/06/15
04/06/15: Go on the most poorly timed holiday ever!
19/06/15: 2 hour meeting with RBS MA to complete the full application. The bank had asked for SA302 forms for OH, but she had her P60's showing the salary portion of her income. MA used these figures and managed to pass the affordability, meaning she didn't require SA302's. They asked for my offer of employment letter as I had only been with company for 3 months. No probation period therefore bank were fine with it. Went into a lot of detail about our outgoings but we explained everything and all was fine. Finally ran the credit check and passed. Application then sent to underwriters.
22/06/15: Text received from underwriters informing us that they had received the application and would let us know within 5 days.
25/06/15: RBS MA called me to say that the underwriters were not going to pass us based on affordability. Eventually worked out that I had paid off a chunk of my credit cards at the end of may but it hadn't yet been changed on my credit file. MA advised that I send in copies of statements etc to show most recent balances.
26/06/15: All statements received by bank and forwarded to underwriters
26/06/15: Title deeds delivered in the post sent by the sellers solicitor for review. We noticed that a small area of the garden is not included on the deeds. Contacted the solicitor who advised that we wait until the mortgage offer comes through before raising it with the bank. They may ask for the property to be revalued.
01/07/15: RBS MA called me to let me know that the underwriters had passed our application subject to the home report being ok. We had asked the seller to refresh the report so the date is recent and should be fine.

Now we're waiting on the formal offer coming through before letting our solicitor sort out the deeds issue. Completion date had been set for 10th July but I don't think there's any chance of that now!

What a stressful and worrying process, haven't slept correctly for weeks! Don't think we'll be properly calm about it until we're sitting out the back of the new house with a bottle of wine!

Best of luck to everyone else waiting for a decision, as my granny always says "what's for you will not go by you".

kingstreet

Bowley wrote: »

Will Nationwide accept just a 1 year SA302? My partner only has 18 months worth of self employment, therefore not yet 2 full SA302's available. Thanks.

No. It's two years min.