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

jonnye82

Currently sitting anxiously waiting for the outcome of my full application. Applied on 23/09 for a Halifax 95% Help To Buy mortgage for £134,995 through a broker. I have a 5% part gifted part saved deposit for the house.

Was asked by the broker for Driving License/Passport, Utility Bill, 3 months payslips, 3 months bank statements last week and haven't heard anything since (although it's the holiday weekend in Glasgow currently).

The DIP (which I got on 13/08) showed I could borrow a maximum of £168k so the broker seemed to think it would go well at £134k. My basic salary is £37,500 then 10-15 hours overtime a month. I have £200p/m on a personal loan for a car and £99p/m for a motorcycle personal loan but no other debt (except my existing £71k mortgage).

All of my payments for everything on my credit file show as OK/Satisfied. However, there is one very old debt which I noticed after applying for the mortgage in the 'Satisfied' section. This debt was part of a trust deed in 2005 and it appears they kept writing to my credit file until Apr 2011. It was then noted as 'Debt Assigned' then the balance put to £0 and never mentioned again.

All of my anxiety is coming from this little blip 4½ years ago and my advisor isn't in the office because of the holiday. It's obviously too late to do anything about this now anyway.

Any opinions/support good or bad are welcome - I'm like a coiled spring at the moment.

kirtsypoos

I know it sounds silly, but I think it's just a case of sitting tight and crossing fingers - our application is taking way longer than anyone elses seems to have done, so you might find out in quite a short timescale.

I was worried as my circumstances are worse than yours (debt wise and with some late payments about 5 years ago) but my advisor has been very reassuring and I'm hoping all will be well in the end, as I'm sure it will for you too!

jonnye82

Thanks. Logically I can't see why the old default would make much difference since everything else is bang up to date for the past 4 years. I've got no idea how things are calculated though!

I never use an overdraft and always have money left in my account on the day I get paid. It's just that nagging doubt

kirtsypoos

I think that's the worrying thing, if they had some sort of checklist, I'd be a lot happier!

Fingers crossed you get an answer soon!

jonnye82

Best of luck to you too. It must be horrendous having to wait so long.

kirtsypoos

It has been very stressful, and the longer it goes on the more I convince myself that they are going to decline us....in reality I'm a stresshead at the moment so who knows what is actually going on!
Keep us in the loop when you find out

fairyloveheart

fairyloveheart wrote: »

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?

Feeling worried Does anyone know if Nationwide always text? I haven't heard anything. Have emailed the broker but no reply yet

kirtsypoos

I don't know what the process is with NW, as we have applied with halifax.

Keeping everything crossed for you though!

fairyloveheart

Halifax is our back up plan but they would only lend us 207K (we wanted 220K) due to our existing debt, about 25K - though that will be settled from equity.

Our Broker said our Halifax one was already approved at 207 and that would definitely go through so I would think yours is the same?

kirtsypoos

Halifax gave us an AIP for almost 40k more than we want to borrow, so we were hoping that it would stand us in good stead for the much lesser amount (with my debt at just over £20000 at this point we want to be paying that down in the meantime, rather than over extending on a mortgage) however we don't seem to be able to get an update and the valuation was done a week ago

I really really hope it's approved, and will keep everything crossed for you and hope nationwide get their backsides in gear for you soon!