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

WaggyBum

Have benefited from reading this thread but haven't posted before. Wanted to share our journey as it may help others. Remortgaging 80% LTV in order to capital raise. Used London and Country who advised Precise as some previous late payments on credit cards (worst status 1).

2/9 DIP with Precise
4/9 Full application submitted
7/9 3 months payslips, 3 months bank statements, husbands contract of employment and most recent P60s requested
9/9 Documentation submitted to broker
18/9 advised underwriter happy valuation instructed
22/9 Valuation conducted
24/9 Mortgage offer emailed from broker - paper copy in post!:T

So happy, much quicker than I thought given some of what I'd read re. Precise. :j

DebtFree2012

Looks like I'm back here after the first house fell through after valuation. Valuation is being conducted on house # 2 soon (waiting to hear date) and fingers crossed this one agrees with the offer we have made this time! (We prefer this house )
Mortgage application done directly in bank and I am hoping the valuation will be done next week so we should hear re the mortgage offer hopefully end of next week? Maybe I'm expecting too much

fairyloveheart

We applied to Nationwide via broker but haven't had any texts or anything to confirm it.

Broker applied for mortgage 13/9/15 Decision was refer so called the BDM
16/9/15 BDM replied it should be ok but because of us paying off debt with equity on current home, they wanted to look further at this.
18/9/15 Broker uploaded all Payslips and info etc to NW portal

How long should I leave it before I query progress with Broker?

uncreative

uncreative wrote: »

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!

18 Sept - Agreed subject to survey
23 Sept - Legal & General visit property for a valuation survey

So painfully slow.........If I dont have the mortgage offer in my hand by the morning of Tuesday 29 I think I will lose the house. Its already back on the market as under offer, rather than off as sold. The vendor is totally fed up and blaming me for the delay.

This is a 2 way transaction with the Bank. This isnt some Oliver Twist style "please sir, give me a mortgage". I am not begging them for a mortgage. I am giving them my business.

Rant over.

mrsh86

New to the forum and thought I'd join in! Our FTB timeline:

(Original AIP with Natwest)
18/09 - offer on property accepted
22/09 - Broker advised Halifax, conducted AIP and full application. Halifax requested 3 payslips - these were uploaded straight away.
22/09 - Same day broker called back saying she was trying to get it all sorted with one call and they needed details of our student loan balances - was able to provide straight away.
22/09 - Broker called me back to say everything was fine, documents had been through underwriters and all had been accepted subject to valuation.
23/09 - Was advised that valuation had been scheduled for 29/09

Still feeling stressed but not as much as a week ago! Broker assured me that they would not instruct valuation if they were not happy with documents etc and has said the mortgage offer should be through fairly quickly once it has taken place.

Has anyone going with Halifax been asked for bank statements? Was quite surprised that we haven't needed to provide them.

kirtsypoos

Hi MrsH,

We weren't asked to provide bank statements either which we were surprised about.

We had our valuation on Monday 21st and are yet to hear anything about an offer but our broker also advised that it was agreed subject t valuation so fingers crossed for both of us!

mrsh86

Fingers crossed Kirtsypoos! Have you asked you broker why it's taking so long? Now I know they're taking a while I won't start panicking if we don't hear anything on Wednesday!

kirtsypoos

I have been driving our broker mad I think! He said they should be in a position to offer in a few days, very vague and I will be calling him again tomorrow to chase once again!
Fingers Crossed for you too!

Rossim1985

Rossim1985 wrote: »

My dates are below. After some initial consultations with two brokers, I tried HSBC who don't other their services through brokers (other than L&C anyway). They were offering terms that were considerably better than any of the indications the brokers could come up with, so I've gone with them. Whilst I have no cards, loans, HP etc, I do have an overdraft so I'm nervous about that!

HSBC Decision in principle 25th August
Second viewing on 28th August
Offered on 29th August
Offer accepted on 1st September (£7.5k under asking price :j )
HSBC Mortgage applied for 1st September
Documents provided same day (face to face meeting in branch)
Further 'results' meeting next week (no date confirmed as yet)
Valuation on property TBC

My credit rating is pretty decent now, though in the past it was poor (I was in debt) though I never had any defaults. The mortgage brokers said HSBC are picky and may decline me but I think that might be a bit of scaremongering to try to persuade me to use them?

The really nice HSBC mortgage guy I met said on paper I should be fine, but ultimately it's an underwriters decision (i'm doing a 95% mortgage).

Just praying it's all OK!

Update!
so HSBC Mortgage applied for 1st September
Documents provided same day (face to face meeting in branch)
HSBC confirmed by email I had been accepted on 11th September :T
Formal meeting then in branch for them to go through all the compliance guff and try to flog me some insurance on Tuesday 15th
Formal written offer arrived in the post Saturday 19th
Signed life away and sent off acceptance form on Tuesday 22nd
Mortgage valuation survey comes back fine in the post :T:T:T on Saturday 26th. Yay!

I spoke to the solicitor and he said searches have been requested (not sure which type though - I should probably clarify)!!

For those that have done this all before (I'm a FTB) how long should it all take now? The property I am moving into was rented and is now vacant so there is no chain.

Cheers and good luck to everyone else!

DebtFree2012

Valuation should be taking place on Wednesday but I'll believe it when I see it. The vendors were a bit chewy about being available all day as the valuer wouldn't set a time. I can understand of course, however for me - I just want it done!

Also I've been asked to provide a month of bank statements which I haven't been asked so far nor was it alluded to.