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

Hanbobs

I feel absoloutely sick to my stomach with this waiting around for a mortgage offer!
I've already convinced myself that we going to be declined.

It's our first home and we're buying it through the Shared Ownersip scheme. We were orignally offered a 65% share, however for this share they wanted us to up our deposit by an extra grand which we simply do not have... we managed to bring the share down to 50% although they said this was, and I quote, "Too affordable" for us... go figure.

We have our AIP through, have secured the house with a £500 reservation fee, appointed a solictor who is currently making all the relevent checks, paid our CHAPS fee and an Arrangement Fee to Leeds Building Society and our broker has sent Leeds our mortgage application on Friday (18/12/15).

HOWEVER, I noticed on the mortgage application he has sent to Leeds, it states that I have 1 credit card. This information isn't correct. I have 2!! The one he has missed off the application is a credit card that isn't in use anymore. I have a balance to pay off on it of £900. I pay the minium payment per month which is set up as a direct debit and shows up on my credit score, with no missed or late payments.

I've emailed my broker to make him aware of this and suggest he change the 1 to 2... but the application has already been sent and I have a feeling he will respond back to me to say it's too late to change anything. (still waiting for his reply).

Surely Leeds will look into this? As it's inevitable they will see this on my credit file. I don't want the under writer to think I've chosen to not let them know about the credit card, because I haven't!

Will this make any difference to our application at all? Can they decline us due to this? Or will they insist I pay it back? Or will they see our affordability is still good and not bother at all?

I've been so nervous and hardly slept the enitre weekend. I've been waiting for Monday to come so I can let my mortgage broker know the mistake on the application form.

If we lose this, then I'll lose part of our £500 reservation fee, the £135 I have already paid Leeds and I'll probably have to pay the solictors for their work - which is coming in at just under £900!

I'm surprised my hair hasn't turned grey over night. My work collegue and my partner seem to think I'm worrying over nothing and it'll be all ok. But I'm not so sure...

Anyone out there with advice on a situation like this? Or am I just being silly?

Hanbobs

gjheward91 wrote: »

Hi all!
This has been such a useful read, thought I'd add mine to the list...


20/11 - Viewed a new build house and reserved
02/12 - Met with MA and completed all forms
04/12 - MA made mortgage application with Leeds, they didn't have my solicitor on their panel, so they sent forms to them to complete. Was approved in principal.
13/12 - Found out that Leeds declines solicitor as they're a sole business.
14/12 - Found new solicitor and full application was made to Leeds that afternoon.
16/12 - Mortgage & transfer fee are pending transaction in my bank. MA tells me valuation has been instructed.


Waiting game..............

We've gone with Leeds also on a new build, shared ownership. Our mortgage application went through on Friday just gone (18th). We have an AIP but I'm KACKING my pants about the application :eek: and have already convinced myself we're going to get declined the waiting game is horrible isn't it?

Our MA told me Leeds would 'hopefully' get round to doing a valuation before Christmas. I'm hoping someone will let me know when that day is.

Good luck with yours!

gjheward91

Hanbobs wrote: »

We've gone with Leeds also on a new build, shared ownership. Our mortgage application went through on Friday just gone (18th). We have an AIP but I'm KACKING my pants about the application :eek: and have already convinced myself we're going to get declined the waiting game is horrible isn't it?

Our MA told me Leeds would 'hopefully' get round to doing a valuation before Christmas. I'm hoping someone will let me know when that day is.

Good luck with yours!

Good luck with yours!! The waiting game is horrible Christmas wont help either....
If you read my posts just after my timeline you'll see I currently have no idea where mines at....
I need to give my current tenancy notice Xmas eve too... as it's a 2month notice and ends 24th Feb which is when the house completes ....

Hanbobs

gjheward91 wrote: »

Good luck with yours!! The waiting game is horrible Christmas wont help either....
If you read my posts just after my timeline you'll see I currently have no idea where mines at....
I need to give my current tenancy notice Xmas eve too... as it's a 2month notice and ends 24th Feb which is when the house completes ....

I've come to the conclusion we won't hear a peep over Christmas which is going to be hell. Our MA said Leeds usually take around 1-3 weeks - but I've been obsessingly reading up on the Leeds process online and they're supposed to be incredibly slow as in 8 weeks slow... I really hope this isn't the case.

Our completion is supposed to be 18th January but I can't see that happening either. I would rather wait until February to get that dreaded 5 week month out of the way first and squeeze another payday in!

I have a feeling Leeds are going to ask me to pay off a credit card also. I'm such a worrier :eek:

gjheward91

Hanbobs wrote: »

I've come to the conclusion we won't hear a peep over Christmas which is going to be hell. Our MA said Leeds usually take around 1-3 weeks - but I've been obsessingly reading up on the Leeds process online and they're supposed to be incredibly slow as in 8 weeks slow... I really hope this isn't the case.

Our completion is supposed to be 18th January but I can't see that happening either. I would rather wait until February to get that dreaded 5 week month out of the way first and squeeze another payday in!

I have a feeling Leeds are going to ask me to pay off a credit card also. I'm such a worrier :eek:

haha you sound as bad as me!!!
My partner, family and colleagues cannot wait for me to shut up about it!
from Leeds current timeline mine should come back new years eve.... haha I doubt it very much!
Ive just emailed my MA again to try and get an update, if you find out about your valuation booking can you please let me know as my MA says he cannot find out the date as they use an independent company
We'll get there!!

Hanbobs

gjheward91 wrote: »

haha you sound as bad as me!!!
My partner, family and colleagues cannot wait for me to shut up about it!
from Leeds current timeline mine should come back new years eve.... haha I doubt it very much!
Ive just emailed my MA again to try and get an update, if you find out about your valuation booking can you please let me know as my MA says he cannot find out the date as they use an independent company
We'll get there!!

haha I feel asthough I'm being a right nightmare! I've emailed our MA this morning and still waiting on a reply. I just told my work collegue I'll ring them on my lunch to which she replied "You do know you're probably that one hated client that every company has at the moment?" :T My mum has told me a need to get hold of some Karm tablets too and my partner thinks I'm panicking for no reason

Yeah sure thing, I'll keep you posted!

I saw Leeds timeline, I want to believe it but I don't so far :rotfl:always expecting the worse lol

gjheward91

Hanbobs wrote: »

haha I feel asthough I'm being a right nightmare! I've emailed our MA this morning and still waiting on a reply. I just told my work collegue I'll ring them on my lunch to which she replied "You do know you're probably that one hated client that every company has at the moment?" :T My mum has told me a need to get hold of some Karm tablets too and my partner thinks I'm panicking for no reason

Yeah sure thing, I'll keep you posted!

I saw Leeds timeline, I want to believe it but I don't so far :rotfl:always expecting the worse lol

haha we are so in the same boat!
I've just had a reply from MA, there are no updates on my case, and he said Leeds are very good at highlighting problems, so no news is good news.
Hopefully the valuation was end of last week or early this week....

Hanbobs

gjheward91 wrote: »

haha we are so in the same boat!
I've just had a reply from MA, there are no updates on my case, and he said Leeds are very good at highlighting problems, so no news is good news.
Hopefully the valuation was end of last week or early this week....

*Makes mental not of Leeds highlighting problems* :eek: goddddd I wish this was over with haha

I'm still waiting for mine to respond, I think I'll have to prove my colleague right and ring on my lunch and become that one hated client ha!

My application will still be in the queue as it only got sent on Friday.

I'm sure it'll be worth it in the end

gjheward91

Hanbobs wrote: »

*Makes mental not of Leeds highlighting problems* :eek: goddddd I wish this was over with haha

I'm still waiting for mine to respond, I think I'll have to prove my colleague right and ring on my lunch and become that one hated client ha!

My application will still be in the queue as it only got sent on Friday.

I'm sure it'll be worth it in the end

Mine was sent in on 14th, and money was taken from my bank the following day, have they taken yours yet?
Do you mean ring MA or Leeds, as my MA has also told me that I shouldn't call Leeds as they wouldn't give me correct up to date information.

Hanbobs

gjheward91 wrote: »

Mine was sent in on 14th, and money was taken from my bank the following day, have they taken yours yet?
Do you mean ring MA or Leeds, as my MA has also told me that I shouldn't call Leeds as they wouldn't give me correct up to date information.

They took a payment on Friday, the same day the application was sent, of £134 - this covered the CHAPS fee and the Arrangement fee - are these the same payments they took from you?

I meant I will call my MA as they haven't responded to my email yet. Just out of interest, who are your MAs?