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

dandan6666

Just been informed that our mortgage offer is now in the post today! so happy!

St149

looks like you're in the same boat as me! to give you some context, they firstly search you as an applicant and give you a decision in principal, based on your affordability and income etc. you can do this before you find a property and is valid for 3 months I think, so its ready for you when you want to show that you're serious when putting in offers. after an offer has been accepted, they do a valuation on the property and if this comes back fine, then only an underwriter actually looks at your application in detail. My AIP was granted about 4 weeks ago and the valuation came back fine about 3 weeks ago. Apparently Halifax are very behind at the moment but this seems to be taking ages for the final decision to come back!

summer_james

crippss wrote: »

How do people know that their mortgage has been agreed subject to valuation with Halifax....? I've been told that the valuation has been instructed but no mention of it being approved subject to.


When I asked my MB he said that a decision will only be made after the valuation and until then it could go either way as the underwriters don't even see it until after it is completed.


Seems like a lot of wasted time for both Myself, Halifax and Colleys if there is something else that would mean my application would be declined but still go to the trouble of completing a survey....

In our case, and I cannot speak for others, there has been a long delay in getting our Homebuyers Report done. We have had to wait a month due to Colleys being too busy, apparently. Halifax have told us that all their necessary checks on us have been done (credit checks, affordability etc) and our case has been agreed subject to the valuation being ok. Everyone seems to have a different experience and it seems most people get their surveys done quick, unlike ours. But as I always say, until I see something in writing...

summer_james

St149 wrote: »

looks like you're in the same boat as me! to give you some context, they firstly search you as an applicant and give you a decision in principal, based on your affordability and income etc. you can do this before you find a property and is valid for 3 months I think, so its ready for you when you want to show that you're serious when putting in offers. after an offer has been accepted, they do a valuation on the property and if this comes back fine, then only an underwriter actually looks at your application in detail. My AIP was granted about 4 weeks ago and the valuation came back fine about 3 weeks ago. Apparently Halifax are very behind at the moment but this seems to be taking ages for the final decision to come back!

It depends. Why would Halifax waste a month on our application waiting for a survey then do the full checks? It is a total waste of everyone's time, and money. An underwriter has already done our checks and is literally waiting to see if the survey is ok.... I honestly think everyone's experience varies;)

JamesN

Fingers crossed for you James. Hoping to exchange this week and complete the next!

uncreative

our timeline:

31 Aug - DIP
01 Sept - Offer made and accepted (V quick - seller wants out)
01 Sept - Mortgage application made direct online to RBS that night
04 Sept - Credit check done (Reported on Equifax)
07 Sept - Letter requesting payslips and ID - taken into branch to speed things up

Now - Radio silence........

Our sellers EA is phoning us to see what the hold up is - we have not even had a valuation survey done and its now 16 days after offer accepted and wondering whats going on......??? so do we!

JollyPhilip

I am awaiting my HTB acceptance then my complete program will go in with Halifax. ahhhhh anxious times!

mrslambert

JollyPhilip wrote: »

I am awaiting my HTB acceptance then my complete program will go in with Halifax. ahhhhh anxious times!

Our HTB acceptance came in within 2 days! Good luck!

azza2007

15/09/15 - Mortgage offer received in post :j


Now awaiting Seller to find a property to move to so I can instruct my solicitor to sort the legals out



Impressed with the speed of Leeds Building Society, just over 2 weeks from application to full offer.


After reading other peoples reviews of them on here and elsewhere online I thought I may have made a mistake but I'm glad I'm mistaken.

azza2007 wrote: »

Good evening everyone.

Here's how my application with Leeds Building Society has gone so far :

(I am a home owner moving house )

03/08/15 - Offer accepted on my property

06/08/15 - Decision In Principle with Halifax

08/08/15 - View Property I like

18/08/15 - After clarifying buyers position, make offer on property I like (offer rejected)

18/08/15 - 2nd offer made - (Offer accepted £5k under asking) :T

22/08/15 - Gave ID, Solicitor details for the sale of my property and agreement in principle to estate agents.

24/08/15 - Estate agents advise offer has now been officially accepted after clarifying details with my solicitor for the sale of my property and the house is sold subject to contract.

27/08/15 - After speaking to a broker and doing various research decide to apply direct with Leeds Building society online as opposed to Halifax due to offering a better rate for my circumstances.

(Agreement in Principle and full application submitted online)

28/08/15 - Post off full application with all documents requested

02/09/15 - Leeds Building Society ask for an additional 2 months bank statements which were not clearly asked for at time of application.

03/09/15 - Sent off additional 2 months bank statements as requested

08/09/5 - Call for update and advised all documents have now been submitted to underwriter for review.

10/09/15 - Receive valuation report in post for property valued on 08/09/15 which was news to me as I was expecting valuation to be done once underwriter was ok with all documents submitted.

11/09/15/ - Receive letter requesting clarification of employer name, as I get paid through the parent company which is a different name to my employer.

Also get asked to send in latest payslip and bank statement (even though I don't get this till 25th September) to clarify my recent pay increase, which is a little annoying as I provided a letter from my HR department on company headed paper confirming my new pay amount, from what day, signed and dated by my company.

(LBS already have my June, July and August Payslips and Bank Statements)

I Have called LBS and advised of these two points and have to wait now possibly until Friday 18th September to see what they say.

I am just happy that the buyer is in no real rush to move in to my property and as yet the seller of the property I am buying from is still searching for somewhere to buy/ rent.

I would hate to be in this situation if either one of them was trying to move fast as all these little set backs take a full week to be answered and progressed to the next hurdle.

Good luck with everyone awaiting mortgage offers.

sheraz_aries

I been informed by our Financial Adviser today that our mortgage has been approved and the mortgage offer letter is now in post.

a) Does it means credit checks have been conducted?
b) I am keen to buy some stuff worth £1000 through my credit card, was on hold as don't want to effect our mortgage application. Was wondering if its safe to do it now?