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

halesowenmum

17 August 2013 - sent off first batch of documents (payslips etc) and mortgage application

Receive offer in principle and told that (subject to confirmation the earnings info I supplied was correct) I would be able to have an £85k mortgage and release of £20k equity

So, I go ahead and have a £450 valuation and survey carried on the home in question, get trades in for quotes, etc

Waiting waiting waiting.... back and forth to the underwriter (I can't tell you how many times I've been told 'it's with the underwriter'), then:

17 October 2013 - your mortgage has been approved - but for £63k and £6k equity!!!!

So, all the money on house I wanted to buy so far has been a COMPLETE waste as on current offering, absolutely NO chance I could now buy this house as it needed work doing to it

The fact I already have a £91k mortgage with them has, it appears, absolutely no relevance/significance at all...

NOT happy

FTB_Doll

halesowenmum wrote: »

17 August 2013 - sent off first batch of documents (payslips etc) and mortgage application

Receive offer in principle and told that (subject to confirmation the earnings info I supplied was correct) I would be able to have an £85k mortgage and release of £20k equity

So, I go ahead and have a £450 valuation and survey carried on the home in question, get trades in for quotes, etc

Waiting waiting waiting.... back and forth to the underwriter (I can't tell you how many times I've been told 'it's with the underwriter'), then:

17 October 2013 - your mortgage has been approved - but for £63k and £6k equity!!!!

So, all the money on house I wanted to buy so far has been a COMPLETE waste as on current offering, absolutely NO chance I could now buy this house as it needed work doing to it

The fact I already have a £91k mortgage with them has, it appears, absolutely no relevance/significance at all...

NOT happy

nightmare!! whos the mortgage with x

halesowenmum

Its with Virgin Money. I really feel I've had the runaround.

First they said we can't take CSA unless court-ordered. Shot that one down in flames so they've had evidence of that as part of income since, if not day 1, day 5 certainly so it's not a new thing so not a reason to be using it as a possible 'oh you can only have this much'. Now they are saying that since (for my son who it woudl stop for first), that it would stop when he was 18 or 19, that means he'd have another 5 years of me having that income for him, and another 7 years of me having that income for DD. So since they knew this was part of my income when they first spoke about offering £85k, I think it's a bit rich to be saying it's a problem now.

Then they've consistently asked me for documents which I cannot possibly produce. As a person who works for a temping agency, as a temp (a format of work that seems totally alien to them), I go from job to job, but usually with just one or two agencies who tend to get me the work. I can show a consistent level of employment that no one would be dissatisfied with and in fact as a temp who doesn't get paid if she doesn't work, I don't have holidays and breaks - I work all the time. But they ask for P60s and I can't give them one because I finished for one agency within 6 weeks of the end of a tax year and so in those circumstances a P60 doesn't get produced, just the usual P45s.

It is literally only in the last 7-10 days that they've asked questions pertinent to matters affecting the mortgage so I just feel they've had me dangling and rather mislead me as to the amount I could borrow.

witchy1066

its not just you or Virgin Money,

they all want p60's and pay slips and some want a lot more and others want a bit more but its the way it is , we have jumped through so many hoops this last 12 weeks , (yes 12 weeks) I am mentally and physically exhausted , plus we are still nowhere near exchange,

my partner works full time for the same employer and has done for 5 years but lender could not understand his pay structure , it isn't that complicated, basically its 2 jobs for the same employer,
anyway it took them 4 weeks, more wage slips and references before we got past that stage of the process,

then our broker rings to say the lender will not except a specialist report because of a typing error , and its taken 2 days, so far, for the specialist to amend the error ,

I do start to think its just me , and why me,

halesowenmum, you are not alone but if its going to happen then it will , eventually

get a MB , ours has been fantastic , without her I would have given up weeks ago

Happinesshope

Hi - applied for a joint mortgage with hubby. AIP received on the same day. Had telephone interview with lender application approved received the paper work two days later. Signed and posted paper work with supporting documentation. Which we have been advised has been forwarded to the underwriters we are still waiting this was a week ago. Early days yet, we are hoping to hear from them soon

Jac517

Jac517 wrote: »

AIP 11/09/13
offer accepted 13/09/13
mortgage applied 12/10/13
valuation and Homebuyer's report booked for 22/10/13

Good luck everyone

valuation ok and Homebuyers report in the post 22/10/13
Mortgage offered 23/10/13 :j

Slight set back- we are in a chain of 3, However vendor's seller has pulled out of the chain, empathise with her as she really wanted the house, what more can i do to offer support to her? Not rushing her is a start, does anyone now how soon she can find another house to buy?? how long is a piece of string i suppose.

brettcta

i can't remember when anything was done (AIP etc.) but i got a call today to say our builders' report's been accepted, the bank's surveyor is happy to proceed with it as it needs minimal work (less than a grand), the bank are happy with that, so now it's with the underwriters.

nervous is an understatement. we've been told over and over we've scored fine for the mortgage (during the AIP) and that it should be fine, but my !!!! is blowing like a leaf blower.

credit file is showing all greens for the last 18 months (at least), no missed payments, credit card paid in full every month for the last 4/5 months (always paid a lot more than the minimum every month), deposit is all our own savings.

i'm gonna be glum all weekend until we get the decision (and then even glummer if it's a no )

FTB_Doll

FTB_Doll wrote: »

Made offer - 9th Oct
Application Submitted - 11th Oct
Asked for payslips - 17th Oct

Now we wait :eek:

got fingers, toes everything crossed x

Valuation booked for 31st October ........ HALLOWEEN! ha ha x

kingstreet

!!!!!!? Half an hour ago you were on declines and appeals?!? :eek:

ka7e

For my son -28year-old FTB

21st Oct Offer accepted, met with mortgage advisor
22nd Oct Mortgage offer in principle (fast-tracked)
25th Oct Full mortgage application submitted.
7th Nov Mortgage approved - informed by post.

5 year fixed rate with Abbey.