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

elneilios

Used L&C to apply for a mortgage with Virgin Money on Tuesday, Application went in this morning!

I'm really nervous because I'm applying for a large mortgage that is at the very upper end of my affordability! But if we can get it we'll have our forever home :j

shazzer22

Good luck elneilios, our FTB mortgage (Dec '14) was with Virgin and I must say they were very good and speedy. We're moving now and they haven't been quite so good, but I think they are quicker for new customers.

duggan1

Got news today that mortgage application has been approved subject to valuation etc. They are sending out an offer doc that we are to sign and return before they arrange valuation.. then if thats ok they send out the full offer. Is this normal? Or is it likely there are some conditions to the mortgage they need us to agree to?

joeistheone

duggan1 wrote: »

Got news today that mortgage application has been approved subject to valuation etc. They are sending out an offer doc that we are to sign and return before they arrange valuation.. then if thats ok they send out the full offer. Is this normal? Or is it likely there are some conditions to the mortgage they need us to agree to?

I know HSBC send out the mortgage offer after underwriting and instruct the valuation at the same time. If the valuation is okay, then the offer document you have already received stands.

gjheward91

Valuation was yesterday and think it all went ok..... fingers crossed!


One condition the lender was going to put on my mortgage offer was to have my car loan paid off by completion, well yesterday I paid it off and then told MA who let the lender know...... they have know said they need the proof this has been done, the payment is going through and should be done by Monday.... argh its just been one thing after another!
It's all moving the right way though....

elneilios

Good to hear you had a good experience with Virgin as a new customer shazzer22, we've not used them before. This will be our 3rd mortgage, FTB, Remortgage with the same lender and now this one.

I'm not feeling very hopeful at the moment as we are asking for approx 4.7 x salary so I know it's a long-shot but we wouldn't need to move again if we can pull it off. I earn a good salary (with annual bonus) though and have a good credit score so here's hoping

nban2010

Just to give an update, our underwriter called today and said we have been approved subject to valuation! :beer:

Valuation will take place in 5 days and we should have an official offer in about a week! :j

BelfastFTB

Congratulations Shazzer22!

Sounds as if MSE is plagued with the waiting game once again... Reassuring for me. 10 working days have elapsed since the valuation was carried out, but it took two working days to arrive with us, so I'm hopeful Halifax will approve on Wednesday, meaning possibly next Monday before our hard copy arrives...

Only concern now is the vendor's solicitor has apparently only sent through the title contract among a raft of documents requested weeks ago...

They have indicated 10 working days is the standard turnaround for those going direct with the bank or through a broker, for anyone interested.

duggan1

joeistheone wrote: »

I know HSBC send out the mortgage offer after underwriting and instruct the valuation at the same time. If the valuation is okay, then the offer document you have already received stands.

We had our own surveyor look over the house today and he's happy. One small issue about the drains potentially going through a bit of land the vendor split off to sell as a site, but that's likely something for the solicitor to worry about (right of access etc).

Hopefully the banks valuation matches our own!

BelfastFTB

nban2010 wrote: »

Just to give an update, our underwriter called today and said we have been approved subject to valuation! :beer:

Valuation will take place in 5 days and we should have an official offer in about a week! :j

Good luck with the valuation! Be aware he may mean a week after someone checks the house over