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

Luckily

Just thought of writing a quick update. After being told my MA that lender was prepared to offer they requested an additional bank statement with both of our names on, they are aware bank made a mistake when setting the accounts up and got sort codes and account number to check is the same account, I have been now told to wait between Tuesday and Wednesday for the mortgage offer, I need to know for sure so I can relax so foxholes you are not alone.

Berger_3

Oh in sure you won't be long after f0xh0les, I literally thought we'd never find out, and then on an inconspicuous Monday afternoon it happened.

Your place sounds lovely, ours is Victorian too, although just a plain old terrace.

BelfastFTB

@f0xh0les your advice on handing in rental notice is really helpful. I'm currently weighing up giving a month's notice from today, as we have been told we *could* have keys in a fortnight, or hanging on a bit longer.

The good thing is we get on well and it's a private tenancy, not through an agency. Fingers crossed he's okay about that...

Oh, and... :beer::beer::beer::beer::beer::beer: and more :beer:

Mortgage offer from the Halifax is in the post!

Here's a summary (from memory) of the recent timeline...

Jan 19 - mortgage application made by broker
Jan 22 - request for SA302s
Jan 26 - hard copies from HMRC arrive
Feb 10 - valuation done
Feb 12 - valuation report received with couple of matters to investigate further
Feb 29 - mortgage approved, as notified by broker

Each time they said '24-48 hours' it ended up being a week. The only thing they were spot on with was the turnaround from valuation report to offer, which was 10 working days.

Our solicitor has advised the vendor's is still yet to submit all the documents they need. In fact, they only have the title and contract deeds at the moment. So who knows...

afooksy

Congratulations to those who got their offers! Our valuation is this Friday though I am nervous it will come back at less than what we need. I don't know if the seller would renegotiate either. We are borrowing £160k and the houses in that street were sold at similar prices so I am hopeful. I read they look at how much it would cost to rebuild the house again? We took out our life insurance this week and they estimated it would cost £160k.


my timeline so far is:
10/02 - DIP given
12/02 - house viewed and offer accepted
22/02 - application submitted (MA had loads of documents from our first meeting with him so not had any requests for anything so far)
04/03 - Valuation booked

Good luck to everyone else!

Berger_3

afooksy wrote: »

Congratulations to those who got their offers! Our valuation is this Friday though I am nervous it will come back at less than what we need. I don't know if the seller would renegotiate either. We are borrowing £160k and the houses in that street were sold at similar prices so I am hopeful. I read they look at how much it would cost to rebuild the house again? We took out our life insurance this week and they estimated it would cost £160k.


my timeline so far is:
10/02 - DIP given
12/02 - house viewed and offer accepted
22/02 - application submitted (MA had loads of documents from our first meeting with him so not had any requests for anything so far)
04/03 - Valuation booked

Good luck to everyone else!

They will give you a rebuild value for insurance purposes so you know how much to insure it for, but this will have no relation or impact on the actual value of the property (an identical three bed semi will cost more or less the same to build anywhere in the country but the cost to buy will vary massively)


Good luck!

afooksy

Thanks Berger that's a good point re the insurance and valuation.


Just have to keep our fingers crossed! If the valuation is Friday we should know by mid - end of next week what the result was and if we are getting an offer.


x

gjheward91

I can't take much more....
Just over 3 months and I just want an answer either way
I was told they had all required documents and valuation report and should have an answer by Thurs/Fri... just found out they have now requested an extra landlord reference and had sent it in the post to that address where he isn't living!
So have given them his email... assuming he will send it back within 2 days then they take another 3 days to assess.... so looks like next week now! ......

f0xh0les

It's just another box ticking exercise GJHeward91, give the landlord a ring and let him know to look out for the email and could he please do it asap as you are obv his favourite tenant.:rotfl:By the way can it be TODAY?????

Silly and annoying as it may be. Keep your chin up.

gjheward91

Yeah I've messaged him, but he's at work so won't be able to do it till this eve
luckily he's a friend and all payments were fine so it will be fine... its just adding time

ksjohnson

gjheward91 wrote: »

Yeah I've messaged him, but he's at work so won't be able to do it till this eve
luckily he's a friend and all payments were fine so it will be fine... its just adding time

Time is the thing. Whilst I am sure there are perfectly valid reasons it, the whole process just seems so laboured and slow. Surely there's a better way?


I sometimes feel like shaking someone and saying "I earn a decent amount of money and I'm willing to give most of it to you!! Surely you want this to happen!!"


"I will accept you money, but first I want to see your petrol receipts from 2006".