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

juliat20

JamesN wrote: »

Laura, you've now got me thinking that mine should come through today as my valuation was a few hours after yours! If I haven't heard by 1pm i'm calling the broker!

Good Luck JamesN, fingers crossed for you.

juliat20

TB1987 wrote: »

Yay, congrats Laura! :beer:



Me and my fiance keep saying this - in this day and age, especially with technology, the whole process seems so outdated. I can't believe that if we get declined for the mortgage, we will be £900 out of pocket. I completly understand you have to pay for services, such as the valuation, but it seems a bit of a con for it all to be so much and then it can still be a no. I think it needs to be regulated more by the financial authority. I am sure there are some brokers who will say they are certain you will be accepted for a mortgage to get their fee and get their favourite lender a valuation fee as well. Perhaps I am being too cynical.....



Another Halifax waiter, welcome!

Thank you TB1987, keep me updated on your progress good luck.

JamesN

Good luck to you too Julia!

bobbybang77

Thought I would add my bit to this one if that's ok.
Had our house up for 18 months and been lurking on here for two years plus and found the advice of the brokers and other peoples experience invaluable.
After only five viewings in a year and a half and not much interest we were starting to lose hope of anything happening but things have finally shifted at a quick pace.
Already had a broker engaged rom last year (we got one of the guys on here who has been great)


22nd July Viewing on our house
29th July Offer received (rejected)
3rd August We view a house (we love it)
7th August Increased offer on our house (accepted)
10th August Put in offer on new house (accepted after haggling)
12th August Put in full application to Barclays (Woolwich) thru broker
13th August Paid for valuation
20th August Valuation takes place, later on same day receive email confirming offer is there and will be posted out.


Obviously some hurdles to go with regards to selling ours, survey is taking place tomorrow. but finally think we may be shifting after 12 years.


PS. We had/have a chequered credit history and having the broker do the relevant digging about has been great, especially as he got us 2.69% with 85% LTV, but the main benefit I think has been the speed with which things have happened as he knew what to send and when.

summer_james

bobbybang77 wrote: »

Thought I would add my bit to this one if that's ok.
Had our house up for 18 months and been lurking on here for two years plus and found the advice of the brokers and other peoples experience invaluable.
After only five viewings in a year and a half and not much interest we were starting to lose hope of anything happening but things have finally shifted at a quick pace.
Already had a broker engaged rom last year (we got one of the guys on here who has been great)


22nd July Viewing on our house
29th July Offer received (rejected)
3rd August We view a house (we love it)
7th August Increased offer on our house (accepted)
10th August Put in offer on new house (accepted after haggling)
12th August Put in full application to Barclays (Woolwich) thru broker
13th August Paid for valuation
20th August Valuation takes place, later on same day receive email confirming offer is there and will be posted out.


Obviously some hurdles to go with regards to selling ours, survey is taking place tomorrow. but finally think we may be shifting after 12 years.


PS. We had/have a chequered credit history and having the broker do the relevant digging about has been great, especially as he got us 2.69% with 85% LTV, but the main benefit I think has been the speed with which things have happened as he knew what to send and when.

I feel your pain as I had lots of viewings on my house but no offers. After a couple viewed my house three times, they made an offer, pretty decent, £5k under the asking price. With all the stress of mortgage applications etc I am praying everything is moving in the right direction as my buyer had their survey done on my house last Wednesday. Not heard anything negative from my solicitor so I am hoping the selling of my house is moving along as it should I think if and when we finally move in to our new house, I might just stay there forever as the stress of selling and moving is a nightmare, constantly worrying if your application is fine, your buyers are legit and the people you are buying from don't change their mind... I honestly think they should do what they do in France, if you like a property you pay a small deposit that you forfeit if you pull out. That way at least you know from the start that it is ok to part with your money on surveys, solicitors upfront fees etc...

lizziesmum

summer_james wrote: »

) I think if and when we finally move in to our new house, I might just stay there forever as the stress of selling and moving is a nightmare, constantly worrying if your application is fine, your buyers are legit and the people you are buying from don't change their mind... I honestly think they should do what they do in France, if you like a property you pay a small deposit that you forfeit if you pull out. That way at least you know from the start that it is ok to part with your money on surveys, solicitors upfront fees etc...

I agree completely. If we get this house I plan to die in it - if the stress doesn't finish me off first!

LauraH28

Any luck James? We got our offer contract emailed over. No extras or conditions. Bam so freekin happy. Exchange has been confirmed for a week tomorrow. Completion on 4th!!

juliat20

Does anybody know how they value a new build that hasn't been built yet?

lizziesmum

LauraH28 wrote: »

Any luck James? We got our offer contract emailed over. No extras or conditions. Bam so freekin happy. Exchange has been confirmed for a week tomorrow. Completion on 4th!!

Great news, lauraH28. Congrats and good luck for your move!

oysteroyster

Hi all,

Good to see how others are progressing so thought I'd throw my rough timeline into the ring. Currently in the process of buying a property with my partner - first time buying for me, though my partner already has 4 x buy-to-let mortgages (though rents herself) and I'm self employed (adding to the complications a little). 83% LTV with a £50k deposit.

13th Aug - Offer accepted on property
17th Aug - Mortgage selected through broker (L&C)
19th Aug - Lender AIP given
---
19th Aug - Formal application to Virgin Money submitted
21st Aug - Valuation fee taken
24th Aug - Documents sent and received (Proof of Identity, Payslips, P60, Buy-to-let Portfolio etc)

Now we're awaiting confirmation of the valuation date (we've opted for a homebuyers report and will follow with a building survey should anything be flagged up - it's a stone-built Victorian mid-terrace). Fingers crossed for the offer to follow! Anyone any recent experience with the processing speed of Virgin Money?