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

Hanbobs

kingstreet wrote: »

The lender isn't interested in your gym habits. There is nowhere to log such information. Don't expect every scrap of information you give a broker to be required by every lender.

If Leeds reduce the amount they will lend, you will receive an offer for a lower amount and would have the option of increasing your deposit to make up the difference.

Leeds takes 3% of any card balance, so it doesn't matter what you choose to pay.

Again thank you for the information.

At the moment we have an AIP of £73,500 on a 50% share of a house worth £155k. Our deposit is £4000 which makes the 50% share price £77,500.

When you say "If Leeds reduce the amount they will lend" does this mean that Leeds won't always reduce the amount based on the information they have from me eg: bank statements and credit checks.

Hanbobs

kingstreet wrote: »

The lender isn't interested in your gym habits. There is nowhere to log such information. Don't expect every scrap of information you give a broker to be required by every lender.

If Leeds reduce the amount they will lend, you will receive an offer for a lower amount and would have the option of increasing your deposit to make up the difference.

Leeds takes 3% of any card balance, so it doesn't matter what you choose to pay.

Good news. Spoke to my MA who says Leeds picked this information up before they did our AIP. Not sure why it took her so long to let me know - but they've already included this in the AIP.

For once I feel happy about all of this. :rotfl:

carlskinner1

We have our mortgage offer!!!

It was quite a stressful process compared to previous experiences, but we have it before xmas.

4th Dec- Mortgage affordability with broker
5th Dec- Offer accepted
8th Dec- Decision in Principle
9th Dec- Application with all documents submitted
10th Dec- Proof of consistant bonuses over 2 years requested
11th Dec- Valuation booked in and day on same day
16th Dec- Homebuyers survey came back with some problems (circa 5k)
17 Dec- Conventry came back and wouldn't accept my bonuses, 50k short on what we need to borrow
18th Dec- Reduced accepted price on our house due to survey problems
22nd Dec- Mortgage offer receieved for 35 years (was 25 years) to make up the shortfall in loan needed

Hopefully it's all a lot smoother from here!

Good luck to all.
Coventry were very quick in getting back to us and decisions, it was less than 2 weeks with extra info on bonuses required, survey done, bonuses then not approved, changed asking price so all documents resubmitted, mortgage offer receieved by solicitor in under 2 weeks...pretty good really.

Hanbobs

carlskinner1 wrote: »

We have our mortgage offer!!!

It was quite a stressful process compared to previous experiences, but we have it before xmas.

4th Dec- Mortgage affordability with broker
5th Dec- Offer accepted
8th Dec- Decision in Principle
9th Dec- Application with all documents submitted
10th Dec- Proof of consistant bonuses over 2 years requested
11th Dec- Valuation booked in and day on same day
16th Dec- Homebuyers survey came back with some problems (circa 5k)
17 Dec- Conventry came back and wouldn't accept my bonuses, 50k short on what we need to borrow
18th Dec- Reduced accepted price on our house due to survey problems
22nd Dec- Mortgage offer receieved for 35 years (was 25 years) to make up the shortfall in loan needed

Hopefully it's all a lot smoother from here!

Good luck to all.
Coventry were very quick in getting back to us and decisions, it was less than 2 weeks with extra info on bonuses required, survey done, bonuses then not approved, changed asking price so all documents resubmitted, mortgage offer receieved by solicitor in under 2 weeks...pretty good really.

Wow that's brilliant! Congratulations :T I hope ours is just as quick *wishful thinking* haha

gjheward91

Spoke with MA yesterday, and he said he spoke with Leeds and assured me that my application is still with the underwriters, and is still being processed, so he asked it to be escalated as it's been sat with them for a while... fingers crossed they'll give an answer soon!

Hanbobs

gjheward91 wrote: »

Spoke with MA yesterday, and he said he spoke with Leeds and assured me that my application is still with the underwriters, and is still being processed, so he asked it to be escalated as it's been sat with them for a while... fingers crossed they'll give an answer soon!

Same thing more or less. My MA is chasing them daily and emailed me yesterday to say they hadn't arranged a date as of yet to do the valuation. If you're still waiting, it's unlikey I'll find out a date until after New Year.

Sleepless nights are the very best huh? lol :rotfl:

gjheward91

Hanbobs wrote: »

Same thing more or less. My MA is chasing them daily and emailed me yesterday to say they hadn't arranged a date as of yet to do the valuation. If you're still waiting, it's unlikey I'll find out a date until after New Year.

Sleepless nights are the very best huh? lol :rotfl:

Why have we tried to buy over the Christmas period...?! haha!

mreldee

YAAAAAY finally getting our offer.

19/11 – AIP received from MA
29/11 - Found property and reserved (Show home initially viewed in March 2015 became available. Unbelievable luck)
9/12 - Full application to Halifax
10/12 – Underwriter asked for more documents
10/12 – Documents sent to Underwriter
14/12 - requested details of notice of correction on file and sent to underwriter
15/12 - Called Halifax and was told its been approved subject to valuation.
17/12 - Valuation has been booked for tomorrow. Builder called me to advise of this.
Spoke to Halifax and they said the mortgage has been back and forth with the underwriters and they have approved it subject to valuation. fingers crossed valuation goes well.
18/12 – Valuation took place
21/12 – advised by lender that surveyor included cost of the already fitted extras (Show home) as a cash incentive and they will not accept that
This was queried by MA and raised with surveyor who subsequently made amendments
22/12 – Amended report sent to Halifax by surveyors. Halifax ok everything and send to underwriter to sign off and I’ve been advised it should go to offer in 24-48 hours.
23/12 - Halifax confirmed underwriter has signed off and offer will be in the post in 24 hours. What a relief. we should receive it just after Christmas
It took exactly 2 weeks from full application. Halifax deserve credit for their turnaround times.

Hanbobs

gjheward91 wrote: »

Why have we tried to buy over the Christmas period...?! haha!

Because we're chuffing nuts haha

Hanbobs

mreldee wrote: »

YAAAAAY finally getting our offer.

19/11 – AIP received from MA
29/11 - Found property and reserved (Show home initially viewed in March 2015 became available. Unbelievable luck)
9/12 - Full application to Halifax
10/12 – Underwriter asked for more documents
10/12 – Documents sent to Underwriter
14/12 - requested details of notice of correction on file and sent to underwriter
15/12 - Called Halifax and was told its been approved subject to valuation.
17/12 - Valuation has been booked for tomorrow. Builder called me to advise of this.
Spoke to Halifax and they said the mortgage has been back and forth with the underwriters and they have approved it subject to valuation. fingers crossed valuation goes well.
18/12 – Valuation took place
21/12 – advised by lender that surveyor included cost of the already fitted extras (Show home) as a cash incentive and they will not accept that
This was queried by MA and raised with surveyor who subsequently made amendments
22/12 – Amended report sent to Halifax by surveyors. Halifax ok everything and send to underwriter to sign off and I’ve been advised it should go to offer in 24-48 hours.
23/12 - Halifax confirmed underwriter has signed off and offer will be in the post in 24 hours. What a relief. we should receive it just after Christmas
It took exactly 2 weeks from full application. Halifax deserve credit for their turnaround times.

Wow that sounds like a pleasant experience! For the underwriter to be intouch the day after you sent the application sounds like an absoloute dream even if it was to ask for more documents.
Can I ask what documents you were asked to suppply on this day? I'm concious that we may be asked to provide more although I can't really think of anything else they could need from us - we've sent everything it seems... or so I like to think.

Can I also asked what your notice of correction was for? I want to be as prepared as possible in case we encounter any similar problems Once this is all over it I will breathe easy!