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

joeistheone

I can't seem to find any recent updates on HSBC, so here's my story so far. I'm selling an existing flat and buying another one at the same time.

Fri 29 Jan 2016 - Submitted full application via L&C to HSBC
Mon 1 Feb 2016 - L&C said HSBC had assessed application and wanted additional docs (3 months bank statements, outgoings and payslips). I posted back 1st class recorded delivery
Tues 2 Feb 2016 - L&C said all docs had been forwarded on to HSBC
Mon 8 Feb 2016 - HSBC asked L&C for more details about my employment and what my job involves. I replied immediately and info sent on to HSBC on the same day
Wed 10 Feb 2016 - HSBC ask for proof of identity (previously L&C had done an automated ID check using credit file). Sent ID 1st class recorded delivery
Thurs 11 Feb 2016 - L&C said docs had been forwarded to HSBC

I know it's probably impatient of me, but it feels like this is taking a long time!! :mad:

shazzer22

So... here's our timeline

16 Jan - viewed property, completely on a whim, hadn't really investigated finances or selling ours
17 Jan - talk ourselves out of it, do some financial planning of our own and realise we could make it all happen
19 Jan - estate agent pops round to value our property and generally get us excited (on the hook!)
19 Jan - DIP from Virgin based on full asking price (I now realise that was a bit of a mistake, jumped the gun a bit! Should have just used mortgage calculators and done my own research better around affordability and our income/expenditure)
Cue mad dash, painting, dressing, taking photographs decluttering and get ours onto RM 21 Jan
23 Jan - 5 viewings on our property
25 Jan - 2 offers received, after a bit of to-ing and fro-ing accept the highest. We then put in what we thought was a cheeky-ish offer to open the negotiating dance, and it gets accepted. Wow. !!!!!! just got real! Our purchaser is BTL so deadline date of 1 April, yikes.
25 Jan - full application underway by phone, (Virgin Money)
27 Jan - solicitor appointed
28 Jan - hard copies for signatures received
29 Jan - everything, including payslip, P60s returned to Virgin, no proof of ID as have an existing account with them
1 Feb - call to check paperwork received - nothing yet
2 Feb - call to check paperwork received - its in, but not been looked at yet
4 Feb - its in, being put on system and told to expect call from underwriter. I wait (impatiently) to take card payment for valuation.
6 Feb - called to get progress update, team don't work Saturday, but system note suggests I'm scheduled a call on Monday to take my card payment grr.
8 Feb - by lunchtime not heard so call and tell them I would like to pay for my valuation - take my money! They sound confused, but non-the less take the funds from my card and all is well.
11 Feb - still not heard about booking in valuation. Getting grumpy. Call to chase. Transpires, mortgage product withdrawn, need to select a new one. Turns our to be better rate, couldn't believe my ears at first, :T Agree verbally. Informed should now get call from underwriters to schedule valuation. Feels like back to the beginning again, but apparently not.
13 Feb - this morning... call to chase up, spurred on by seeing this thread! (there's a theme developing now!) Revised illustration button wasn't hit to send me an email, meaning that the next step of getting the valuation sorted hadn't been able to proceed. Button pusher doesn't take phonecalls on a Saturday, but does accept emails internally between departments. Hurry up email promised to be sent. I'm pretty sure I've spoken to everyone in their call centre twice each now, so much so the lovely lady this morning recognised me.

So Monday morning will be next chasing to get that valuation sorted! Now I've written it in a timeline, I suppose it isn't that long in reality, just feels like forever. With our last mortgage with VM we could do it all online, valuation booked within 24 hours and constant text updates. Seems like it is a bit hit and miss, or is it that they prioritise new customers and FTB ?

Have a great weekend everyone . :beer:

haf1

Just a quick update/feedback about Leeds Building Society timeline:

15/12 applied for AiP, via broker, FTB for a 95% mortgage
17/12 AiP approval and full mortgage application
22/12 Valuation, confirmed to be fine on 04/01 - obviously, Christmas and the floods of 26 December got in the way. Several document requests followed, which they were happy to receive as PDFs.
11/01 Letter from Leeds BS confirming their initial assessment to be complete
28/01 Mortgage offer, delay due to waiting for seller to provide information on the leasehold

So about month in total, which doesn't seem too bad (yeah shazzer22, it did feel longer at the time!). That said, yes, Leeds did ask for the additional December payslip and proof of payment of rent. But no questions about hairdressers or any other spending habits

deegsy

Wow just had our mortgage offer on a Sunday, very bizarre as the offices are only open mon -fri. Suppose it saved me getting the wife a valentines present as she was pretty happy with this news. 3 1/2 weeks for us to get here :-)

f0xh0les

I have been told the big law companies (like the ones the EA's recommend) will be working 7 days a week in the run up to 1st April as a lot of BTL properties have been put on the market in the hope of being sold before the tax rules change. So they are going flat out.

Congratulations on your mortgage offer!!!!!

KatyJane_2

Seems all the issues are with people who have gone through Nationwide...If I'd come onto this forum before applying for our mortgage I definitley would have gone with another bank/building society!

deegsy

Ours was with nationwide and i've had no problems 3 1/2 weeks in total.

Jones87

kayb3ll wrote: »

Well, we finally received our renewed offer and our solicitor sent over our missive this afternoon. Fingers crossed we're in our way now!

Finally! Congrats :T

afooksy

It might be too early for me to join this thread - we have DIP from Woolwich of £162k but after seeing a house and offering on it on Friday we only need to borrow £154k.


Have engaged with solicitors today, filled out some forms and paid an initial £250 but our MA is now on holiday until next Monday so can't action the valuation yet.


All feels up in the air at the moment. Our MA said its no issue with the delay in valuation taking place, he said get the solicitors engaged asap as that takes the longest. The solicitors also said the same thing.


Anyone had similar situation? Been reading this thread for a while and notice some valuations take place within a week of offering. So I'm scared about our delay.

f0xh0les

Just got a draft contract from the Solicitors and the Property Information Form, but still no mortgage offer.
It looks like the solicitors might just be the quicker part of this equation, not the mortgage bit.