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

carlskinner1

Hey All,
I'm joining in on this!
We spoke to a mortgage advisor last week and did a affordability calculator and just had a offer accepted on a house this weekend just gone..we've been looking for the last month.

I need a Decision in Principle today from my broker, so hoping the application will also go in today. Hoping to get this done before xmas. I bought my last house 2 years ago over xmas and everywhere shut down for 2 weeks xmas/new years, so it would be nice to get the mortgage done before then

Borntostress

Hi all.
Am I okay to join on this?

I am a nervous reck at the moment.
Me and my husbands are FTB.
Don't mean to bore you all but here's my story.

23rd October - mortgage in principle with TSB
5th November - full application submitted and paid for the valuation
11th November - advised they declined the mortgage due to a a default.
So checked my credit file and mine was good, however when it came to me checking my husbands, he had a default from June 2014, which was also paid off in June 2014.
I was aware he was very lazy with payments but don't think he ever checked his credit.
TSB refunded valuation fee.
So anyway we left that and went to a broker. Before hand we got a letter from Barclays ( where the default was registered) to state the balance was cleared in June 2014.

Our new broker - baring in mind he has full details of all our debts and also the default on my OH credit file, he has declared all this to Halifax before applying for the AIP and submitting full application.
29th November - AIP with halifax
2nd December - full application submitted - with all details, proof of deposit - gift letter - bank statements - ID - loan agreements - wageslip etc
4th December - advised that Halifax have instructed for valuation to take place on Thursdays the 10th December.

Does anyone know what this means?
Have we passed credit checks?
Our broker has told us we have.

Would Halifax instruct a valuation of the didn't think we would pass?

PLEASE CAN SOMEONE HELP!


Thanks guys. Much appriacted xx

kirtsypoos

Try not to worry Borntostress, sounds like a good sign. I was as nervous and stressy as you, I think I drove our broker mad!

We then waited for a week after the valuation before our mortgage offer which stressed me out even more, but it was all fine I'm sure yours will be too, and that congratulations will soon be in order!

Mummyto4kids

We have a mortgage offer via the Halifax, I had an 5.5 year old default and they approved us, they also don't instruct the valuation until theyre happy with your application. Over the phone they told our broker we were approved for offer pending the valuation, that was done a week later, the broker spoke to them the following day and they confirmed we would have our offer shortly and then two days later we got our formal offer through the post. Lots of luck but sounds positive based on our experience

Borntostress

Thanks kirstypoos and Mummyto2kids.

Congratulation to both of you on your mortgage offer's.

I hope your both right, I've not long got married and am living with my inlaws.
As nice as they are I have no privacy and just need my own space with my husband.

I hate this waiting game.
I am so confused as some people say that some lenders can instruct valuation before they credit check. And some say they don't.

When checking my Experian credit report. I have 2 soft searches, one from Halifax and the other from bank of Scotland. Which where entries from the AIP stange,
Then on the 2nd December when we submitted the full application their is one hard search from bank of Scotland, registered as first mortgage.

X

kirtsypoos

That's exactly the same as on my and my partners credit reports.

As long as the broker told them about the default and it fits with their criteria there shouldn't be any issues.

From what I've heard Halifax are the go to bank for slightly bad credit, and many other things - they were quick and great for us!

mreldee

Hi all,

Hoping for a favorable outcome. Here's my situation

I'm a contractor and i've been in same line of business for two years. I have one default dropping off in march 2016. My current contract is 450 a day and contract runs till april 2016

My wife is a permanent employee and she started a role in July this year after a year out due to maternity. shes on 61k a year including bonuses. Previously to that she has been in same line of work for 7 years and she has two defaults from 2012 that were settled just over two years ago in 2013

we had an AIP last week from halifax and will be sending full application in tomorrow. we are also FTB and have received authority to proceed. the loan amount is £238990.

anyone else been in a similar situation ? What are our chances?

nerve racking but hopeful.

Thanks all

Thrugelmir

sweetica wrote: »

There must be many many people in this situation , what is the hidden agenda , because surely it should be about selling money to those that can afford with ten year proven record , the reason so far is that they are saleable , well they are likely to be if there can be no mortgage available

Lenders operate on a commercial basis under regulatory supervision. There is only an infinite amount of funding available. Gone are the days of pile em high and sell em cheap mortgages as if they were cans of baked beans. You are in beauty contest with plenty of other borrowers. Lenders can take their pick of the customers they wish to conduct business with.

divadee

Can I join in???

30/10 AIP from broker (London and Country)
01/12 offer accepted (after offering on 3 different properties which all went to full and final and we lost out on)
03/12 full mortgage application submitted through broker to Virgin.
04/12 Virgin ask for further documents
07/12 documents received by broker

And so the long wait begins!!!

7sefton

My situation with TSB (via London & Country):

4 November: AIP
*Started flat hunting*
23 November: Offer accepted
24 November: Full application
25-27 November: Supporting documents submitted
7 December: Valuation
8 December: Mortgage Offer

Generally very pleased with L&C - they recommended TSB because they were quick a quick lender and didn't have ridiculous paperwork requirements (I'm in a rush to complete as quickly as possible).

Now I'm just waiting for the full Homebuyers Report to check there's no nasty surprises, and then all the legal work to be completed. Solicitor reckons it should complete first week of January...