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

charliewocka

BTL was offered last week! Got the letter in post on Saturday and had wrong address on it so hoping only a quick amendment is needed!

Residential valuation took place last Wednesday and a bit of confusion over the valuation Vs resale values given so waiting for clarification on those. Offer should be with us today though.

poisson_rouge

Hi,

We had an offer accepted last Wednesday and the mortgage broker did an initial search last Thursday and we had an acceptance in principal for Coventry.

He is doing the full application today, fingers crossed everything goes through.

Does anyone have experience of Coventry? What are their timescales generally?

mrsbigz

so today we've been advised by our broker that that Nationwide have all the information in on our case that they require and the Valuation is now back with them too.
The case has moved on to a “Senior underwriter” this a.m. and they have 48 hours to fully assess the case, once more and if they are happy with everything and the valuation they can offer the case by Thursday a.m. But if the underwriter wishes to asks any further questions of you during this 48 hour period, he/she can do.
Is this normal practice??? How is a senior underwriter different to an underwriter - does this mean that they see as higher risk?
Sorry - also finding this whole process really really stressful!!!!!

shaun_1987

27.07.2015 – DIP with Nationwide approved
27.07.2015 – Full application submitted to Nationwide
30.7.2015 - Valuation Booked for 07.08.2015
07.08.15 - valuation took place
08.08.15 - valuation received text from nationwide
10.08.15 -formal offer text message from nationwide

Now waiting for the post.... :j

StevieBleeds

mrsbigz wrote: »

so today we've been advised by our broker that that Nationwide have all the information in on our case that they require and the Valuation is now back with them too.
The case has moved on to a “Senior underwriter” this a.m. and they have 48 hours to fully assess the case, once more and if they are happy with everything and the valuation they can offer the case by Thursday a.m. But if the underwriter wishes to asks any further questions of you during this 48 hour period, he/she can do.
Is this normal practice??? How is a senior underwriter different to an underwriter - does this mean that they see as higher risk?
Sorry - also finding this whole process really really stressful!!!!!

Nope, don't worry about it, our application went through the same thing with Nationwide, although our broker referred to it as "Final Checks" before they issued the offer.

class2ldn

Well we are still waiting for our halifax offer, survey has been done but it's thrown up issues with structural movement so we may pull out anyway.
Does anyone know if the house price is renegotiated whether a whole new application has to be done or can it be tweaked?
Either way I doubt it's going to be happening anytime soon. If we pull out we'll have lost £800

novice123

I am in the same boat!

Leeds building society did the valuation on the 4/11/2015 and they told the broker that the offer has 3 working day turn round. The valuation actually came back fine and now they said they are doing final checks, what are final checks. To be honest, this credit search has taken at least 58 points from my credit score. Is anyone aware of Leeds building Societies final checks before offer, I am already paying for the valuation so wouldn't it be efficient to do all the underwriting first?

novice123

@class2ln you should get the vendor to decrease the price, if the valuation has slumped in price!

cns06

Update - still moving in the right direction!

21st July – AIP
22nd July – Supporting documents and ID sent to broker
24th July – Full application submitted
7th August – Valuation instructed
10th August – Valuation completed

mesut_sanchez

I just recived my mortgage! woop... Bring on completion