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

Hanbobs

Odd one - APPROVED!! :beer: But Leeds won't release mortgage offer until they receive one more form :mad:

Ok so I'm really confused! We had our valuation yesterday and I was sent an automated text by the broker at around 4:45pm to say it had all been approved and they were going to take their fee the following day. I rang them to confirm this information was correct - it was! Woo!

MA rings me this morning to say the underwriter at Leeds is now asking for my other halfs full employment history from HMRC, instead of the one they requested from him before Christmas, and say they won't release our mortgage offer until they've receive this. :mad:

I panicked :eek: (obviously) as my partner was self employed at one stage and has been unemployed in the past due to no fault of his own - mostly businesses going under and his own business going down the same path.

I mentioned this to MA who confirmed with Leeds that this shouldn't matter, apparently it's just a new standard procedure and they request these documents more commonly now. And we happened to get a mortgage as this new procedure fell into place. Shock! Nothing quite like our luck... :rotfl:

My hair is definitely turning fifty shades of grey!

This is now going to delay the mortgage offer being sent to us by around a week.

gjheward91

Hanbobs wrote: »

Odd one - APPROVED!! :beer: But Leeds won't release mortgage offer until they receive one more form :mad:

Ok so I'm really confused! We had our valuation yesterday and I was sent an automated text by the broker at around 4:45pm to say it had all been approved and they were going to take their fee the following day. I rang them to confirm this information was correct - it was! Woo!

MA rings me this morning to say the underwriter at Leeds is now asking for my other halfs full employment history from HMRC, instead of the one they requested from him before Christmas, and say they won't release our mortgage offer until they've receive this. :mad:

I panicked :eek: (obviously) as my partner was self employed at one stage and has been unemployed in the past due to no fault of his own - mostly businesses going under and his own business going down the same path.

I mentioned this to MA who confirmed with Leeds that this shouldn't matter, apparently it's just a new standard procedure and they request these documents more commonly now. And we happened to get a mortgage as this new procedure fell into place. Shock! Nothing quite like our luck... :rotfl:

My hair is definitely turning fifty shades of grey!

This is now going to delay the mortgage offer being sent to us by around a week.

YAY!!! congratulations!!!! that's great news!! even if they still need more paperwork...
I might hear back today about my AIP... zzz......

Hanbobs

gjheward91 wrote: »

YAY!!! congratulations!!!! that's great news!! even if they still need more paperwork...
I might hear back today about my AIP... zzz......

Ahh thank you!!! I could have cried when it came through - but I also could have cried this morning when that request was mentioned :rotfl:I'm still convinced they won't release it after they get it for whatever reason. I'm such a worry pot!

Let us know if you hear back! :D

matchboxfull

Evening!

Can finally join this thread.

Mortgage interview and full application done today direct with Nationwide. Valuation booked for tomorrow.

Interview took over three hours, but wasn't as scary as some of the horror stories I've been reading on MSE.

SARF

Thought I may as we'll join in the thread...

So, I rent a house with 2 brothers. Were told our lease would be up 17th Feb as owner wanted to sell.... Thought, why don't we buy..

27th Dec: contacted owner asking if interested in selling to us rather go through an agent and put on market
31st Dec: Agreed sales price with owner
31st Dec: contacted MA to get ball started
1st Jan: received owners own valuations he had done. Sent to MA along with our financial and personal details
5th Jan: based on those details MA confirmed there were several options
6th Jan: met MA to go over options and choose mortgage. Also gave proof of earnings and deposit etc.
7th Jan: decision in principle received from Virgin.

Think next steps are to a proper paper application and choose a solicitor or help with the purchase. Have one quote already, not including survey of £1411 all in, getting another tomorrow..

KatyJane_2

Myself and my partner are first time buyers, I have no idea what the next steps are and how long to expect to be waiting.
Offer accepted 16th Dec
Full mortgage appointment completed 6th Jan
Solicitor appointed (after 2 phone calls to the estate agent who said they'd sorted it I spoke to the solicitor direct who had no info of us so sorted it with the lady over the phone!) Waiting for paperwork to come in he post.
Valuation is booked for 12th Jan.

What are the next steps and how long should I expect to wait for the valuation reports?
I'm impatient and I have no idea how long the whole mortgage process will take!

Hanbobs

KatyJane wrote: »

Myself and my partner are first time buyers, I have no idea what the next steps are and how long to expect to be waiting.
Offer accepted 16th Dec
Full mortgage appointment completed 6th Jan
Solicitor appointed (after 2 phone calls to the estate agent who said they'd sorted it I spoke to the solicitor direct who had no info of us so sorted it with the lady over the phone!) Waiting for paperwork to come in he post.
Valuation is booked for 12th Jan.

What are the next steps and how long should I expect to wait for the valuation reports?
I'm impatient and I have no idea how long the whole mortgage process will take!

Hi Katie,

We're new to all of this also - first time buyers! :T

Your next step will be receiving your mortgage offer in the post once your valuation is complete - your MA will probably tell you before it arrives that it's been fully approved and is on its way to you. The lender may ask for a few more documents in the meantime which can be quite frustrating.

In our experience, the valuation was the last thing that our lender needed to do before sending us the offer. And it's usually only a few days after the valuation date.

Our solictors so far have taken 3 weeks and have already sent us copies of the searches and energy ratings for our area etc... he's asked us to go in and see him so we go through everything and sign.
Our property is on the shared ownership scheme so we've been given a time frame by our solictors of 8-10 weeks.

Then I thnk the next step is exchange of contracts - which is when you're legally bound to purchase the property. You may have already been given a proposed date of exchange of contracts and it's up to your solictor whether or not they can reach that date - I expect ours will go over by a week or so. Then you'll be given a day to complete. Hope this helps!

dgtazzman

dgtazzman wrote: »

I'll join in, just had to reapply for a mortgage as the developer's contractor I am buying a new build from embezzled some money from them and they had to be fired, meaning my house is now due for completion towards the end of April, rather than January, sigh.

Already had a mortgage offer from Nationwide, but this one is only valid till the start of March, so not long enough and only scope to extend it for 2 weeks at most. Broker tried to convince them to issue a new offer based on the previous application, but in the end, they insisted on a new valuation, so start again from scratch.

17/12 - broker submitted full application with all supporting documents requested during previous application.
18/12 - receipt of application confirmed by Nationwide.
21/12 - valuation booked in for 04/01, looks like I didn't make the Christmas cut off

Going to be interesting to see how Christmas and New Year influences the time schedule. Last time they had the valuation booked for 3 days after the full application was submitted.

UPDATE:

28/12 - received news valuation has been moved forward to 30/12
30/12 - valuation carried out
31/12 - received text/email from Nationwide they have received the valuation report and are processing it
06/12 - have requested a copy of the valuation report for my own records, request accepted and processing
07/12 - Looks like the underwriters are finally sober again after the holidays, got a request for a month's worth of bank statements and proof of address, this was all already provided when the application was started, but it seems they want updated versions for some obscure reason. They also now require at least 1 month of spare funds showing on my accounts, which has been defined very vaguely, so no real idea what they want with this, but there's close to 10 grand in spare funds on my accounts, so I'm hoping that's fine for them. They've also requested a letter from my solicitor to confirm I have paid them 18 grand for the deposit and a bank statement showing the transfer of said 18 grand into the solicitor's account. Won't be able to provide the proof of address till Wednesday now as I'm visiting relatives and the documents they've listed they will accept are rather limited.

BelfastFTB

Hanbobs wrote: »

The final pending statement arrived in the post yesterday so I was able to scan it over to our MA frst thing this morning! Then he came back to say that Leeds now MIGHT request a full HMRC Employment History from my OH as this is something they have requested recently from others *sigh* so as a precaution my OH is now having to request this information which will take a few days to arrive once he finally gets through to someone at HMRC - let's hope Leeds don't ask for it as the delays are giving me palputations lol

Typical of your OH to forget then I guess :rotfl:At least you now have it! Fingers crossed for Thursday!

Ahh, Hanbobs! More limbo and thumb-twiddling! Wonderful news about filling in some gaps, though. Doesn't it make the waiting so much easier, if you can be productive during it?! If only the communication was constant reassurance I do think brokers and MAs must sit there thinking 'chill out, woman'...

Mind you, trying to get through to HMRC in January is not easy!

No word on our side yet. Was expecting to hear by yesterday at the latest, but judging by some other MSE experiences, we could be another week away, at least. When a valuation is booked, I'll feel so much better. :cool:

journeymanpro

can we join?

dip with virgin was referred yesterday but broker heard today that it is all ok and to proceed with full application so thats now done.

nervy few days ahead now!