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

mrsh86

Congrats to those who got their offers! Our broker said we should hear by the end of tomorrow...

Anagran

Fingers crossed for you Mrsh!

[Deleted User]

Suppose I can join in now!

Got an AIP with Precise about three months ago- finally put an offer in on a house on Saturday, accepted on Monday. Put in full application with Precise via our broker today, so now we wait!

Precise website says that their current service times are 9 days- I know that this is probably optimistic as Precise tend to be very thorough! But I've seen the site say 28 days and upwards before, so hopefully applications aren't taking too long at the moment.

Very nervous about the outcome- we are sub-prime borrowers due to some adverse in my history (hence why we're going with Precise), so paranoid they will decline! I've been 100% upfront with them about everything and we fit their criteria, and broker has been through credit reports with a fine tooth comb, so keeping everything crossed!

jonnye82

Was asked yesterday by the MA to provide details for the valuation payment for our Mortgage with Halifax. He said that we had been 'Accepted' and this was the final stage before we will be given a Formal Mortgage Offer.

Fingers crossed!

kirtsypoos

Almost there jonnye82!

Keeping everything crossed for you mrsh86, it's so stressful waiting but so exciting when you finally hear!

Connor73

Yipeeee valuation being done today ��

Connor73

Yipeeee valuation getting done today:-)

mrsh86

Well we got a letter saying the valuation is fine but no mortgage offer. Broker's office said they would call before 5 - no phone call! Looks like I'll be having more wine tonight then!!!

kirtsypoos

Mrsh, that's pretty much where we were at this time last week and it took a lot of chasing and until Monday to get our offer confirmed, I know it's easier said than done but try not to stress!

mashmash90

This is my first post, I've been obsessively lurking on this forum since applying for a mortgage and thought I might as well get in on the action!

We are FTBs doing shared ownership, found our dream home (pretty central in London) and can afford 40% share with 10% deposit. Have a 4 week exchange deadline- 21st October. Our mortgage brokers seem to be decent, have sent our docs and got us a valuation (happened today!) within 4 working days. Our lender will be Leeds BS and I've heard mixed reviews but their service standards seem to be pretty good (12 days from docs to offer?!). Had a couple of niggles so far- one being the price increased from when we offered to when we were allocated by 12.5K. Now I'm paranoid this will be down valued as this is what happened to us last year when we tried to buy and I don't see how they justify 12K increase in 3 months. We've spent about 1K in reservation, mortgage & solicitors fees already so will be heartbroken if this happens again. Anyone have any experience of down valuations in new builds for shared ownership? I asked NHHG and they said it has happened recently that they've had some down valuations on the development (I appreciate their honesty but really not what I wanted to hear!)

Also just found out stamp duty is £800 more than what we thought because they also charge it on a share of rent? Not read this anywhere before despite lots of research on Shared ownership but we should have enough...

I've been told I'll be updated in 48 hours re the valuation so just stressing until I know for sure!