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

mrsbigz

Steviebleeds thank you for your response. Really hope this us just a case of them ticking final boxes before making an offer. May be because I'm so stressed about this whole process but can't help thinking it's going to go tits up...!

class2ldn

novice123 wrote: »

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

Well it appears we may be ok.
Spoke to our broker who happens to be an insurance advisor aswell and he said we've looked into it too much

It states

The structural condition of the walls appears to be generally satisfactory and we found no evidence of significant cracking, subsidence or structural movement. The main walls all appear to be satisfactorily straight and true to the eye, and generally
well pointed.The rendered wall surfaces appear in basically satisfactory repair, although subject to some cracking and loss of key in a number of areas. This is due to shrinkage and general deterioration of the render material. Damaged render can cause dampness and these areas will need to be made good prior to the next redecoration.

This is the bit thats thrown us out below
Above it says there is no sign of structural movement but now it says there is.

The property has been affected by past structural movement, evidenced by some localised cracking to the mortar joints to the wall surfaces. From a single inspection the movement appears to be long-standing and does not appear to be progressive.

Now our broker reckons we don't have to declare that as it clearly says there isn't any subsidence in the points above. I'm still not sure. Don't want to have a house with this marker on it when there's no need.

charliewocka

Valuation on residential mortgage came through - £38k less than we are offering. We know the house is worth more though (no real comparable properties on the street) and we will be doing it up in time. Luckily our mortgage broker is on the case and we can still get the mortgage with affordability and LTV rising up to 90%. Phew! Amendment submitted yesterday and with the underwriters again to review so should hear back by end of the week.


Am having mini meltdowns regularly now - I'm not enjoying the house purchasing process at all

StevieBleeds

mrsbigz wrote: »

Steviebleeds thank you for your response. Really hope this us just a case of them ticking final boxes before making an offer. May be because I'm so stressed about this whole process but can't help thinking it's going to go tits up...!

Haha... you sound like me mrsbigz, my missus is the rational one. Me, not so much. But I was the same, until our broker phoned to say we're good to go.

In our case, our application was picked up by 4 or 5 different underwriters during the process before we got to the Final Checks stage, which is where your application sounds like it's at. As I understand it, they are just checking the other underwriters didn't miss anything.

We had to submit quite a bit of information too. Notably, we had to resend a confirmation letter of my missus' new job THREE times before they accepted it, since they wasn't happy with the quality of the scans.

easilyamused

I was going to post that I'm joining the thumb-twiddling ranks of you guys awaiting a mortgage decision, but then yesterday evening our mortgage advisor told me we'd been approved! :j

So I figured I'd post on here anyway how long things have taken for us. I was beginning to get nervous as we've gone with Accord Mortgages and I'd subsequently read some reports here of people having pretty iffy experiences with them, but we've found it all to be pretty quick and pain-free!

Mortgage applied for - 24th Jul 2015
Valuation Requested - 27th Jul 2015
Asked for additional documentation - 30th Jul 2015
We were told last week they were deliberating whether we needed a damp and timber survey doing due to the age of the house (Victorian) but obviously decided against as...
Offer Approved - 12th Aug 2015

So all in all less than 2 weeks to turn it around. Good luck to the rest of you still waiting!

novice123

still waiting, had valuation on the 4th august, valuation came back fine on the 6th August. Still no offer!

johnnyy

My experience with Santander through MB

18/07/2015 - Reservation fee paid for property
21/07/2015 - AIP received from Santander via MB
24/07/2015 - Full Application submitted by MB
29/07/2015 - MB communicated that Santander requested for proof of address. Utilities bill sent the same day
30/07/2015 - MB advised case going through initial underwriting
04/08/2015 - MB advised case agreed with Santander and valuation instructed
07/08/2015 - MB advised case offered by Santander
11/08/2015 - Offer received in post

mrsbigz

So.... Today got a phonecall from my broker (not a text from the lender) to say not bad news but not good. They will lend us £3.2k less than specified in the dip. Which is kind of OK, as we have about that left from the equity after fees etc, but that money was going to pay a credit card (which I believe will be a condition of the offer they make - of they make it). So my question is re conditions - who checks that you've kept them; the lender, the broker, the solicitor?? And do they actually check? Ie do we take these plunge and except the lower loan offer, pay the difference with our equity, but then take the chance that we can't keep the condition of the offer? Help!! Don't want to break agreements but also don't want to lose our dream house over £3.2k!!!?!?!

JamesN

Got AIP last week. Application sent off to Nationwide today though they just bumped up their rates by .1%! If only it went through yesterday.

Got a text to say they received the application. Am I right in assuming I'll get a text letting me know if we have been approved or not?

mrsbigz

Got AIP last week. Application sent off to Nationwide today though they just bumped up their rates by .1%! If only it went through yesterday.

Got a text to say they received the application. Am I right in assuming I'll get a text letting me know if we have been approved or not?

yes, Nationwide keep you informed of all the major steps by text (assuming they've been give your mobile numbers) - next text will be to say the valuation is booked, then received.....then onto mortgage offer!! good luck