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

f0xh0les

I think if everything else stays the same, the price is the only variable. Unless the seller pulls out, decides to put it back on the market etc... but we have insurance for that - up to £500, but am already at £1400 with our survey, further surveys recommended, MA fee, conveyancing etc.

Mortgagehold

Hi,

Just thought I would put in my timeline of getting a mortgage from Barclays/Woolwich as this forum was helpful reading when I was going through a process:

20th Jan - Offer Accepted
25th Jan - Applied for mortgage (full application)
28th Jan - Request for pay slips and Bank Statements ( 3 months)
1st of Feb - Valuation Booked for 3rd of Feb.
3rd of Feb - Valuation performed and told all OK.
4th of Feb - Offer Issued.
26th of Feb - Keys Received all Done!

Hope this helps in terms of timeline for Barclays/Woowich, It was just me on the mortgage as a single person First time buyer with full time employment.

Best Wishes for everyone who reads this in future.

f0xh0les

[FONT=&quot]Decided to email the Mortgage Advisor this morning on the off chance, and immediately got this reply:

Your offer should be issued within 48 hours and the valuation has come back fine and valued at 160k. No retention etc. You will get a copy with your offer anyway but no major problems and lender is happy to lend

So from finding the property on 2[FONT=&quot]1st [/FONT]January viewing on 22nd and mak[FONT=&quot]ing an [FONT=&quot]offer and being accepted the same day[/FONT][/FONT], the first meeting with the mortgage advisor on 30th Jan and choosing the product, it has taken until today 7th March to get a decision.

They have mucked about with affordability, reduced the amount by £5 a month(?), decided to offer the full amount over 18 months longer, forgotten to instruct a valuer (which I think has added 3 weeks to the process) and finally, it took 5 days from the valuation to telling me that it was fine[FONT=&quot], and I had to chase the MA for her t[FONT=&quot]o let me know.


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Mizenberg

f0xh0les wrote: »

[FONT=&quot]Decided to email the Mortgage Advisor this morning on the off chance, and immediately got this reply:

Your offer should be issued within 48 hours and the valuation has come back fine and valued at 160k. No retention etc. You will get a copy with your offer anyway but no major problems and lender is happy to lend

So from finding the property on 22nd January, to the first meeting with the mortgage advisor on 30th Jan and choosing the product, it has taken until today 7th March to get a decision.

They have mucked about with affordability, reduced the amount by £5 a month(?), decided to offer the full amount over 18 months longer, forgotten to instruct a valuer (which I think has added 3 weeks to the process) and finally, it took 5 days from the valuation to telling me that it was fine.


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At least you are getting there, though.. finally :T

carissa1810

Does anyone know if they approve you mortgage application before the valuation? (I know with natwest the underwriter confirm mortgage and then instruct valuation) wondering if Halifax is the same?

shazzer22

Great news f0xh0les - I've kept peeping to see how you've been getting on, sounds like that nightmare is nearly over!

Mizenberg

carissa1810 wrote: »

Does anyone know if they approve you mortgage application before the valuation? (I know with natwest the underwriter confirm mortgage and then instruct valuation) wondering if Halifax is the same?

I'm not sure and also wondering the same, really- doing ours through Lloyds.

kingstreet

Nope. Valuation is instructed on application.

Champagnelifestyle

Carissa and Mizenburg - our case advisor just told us that the valuation has been instructed but our file hasn't been passed to underwriters yet.
She's waiting for them to confirm whether or not any more documents are needed or just the valuation.
She did say we had passed credit checks though.

I am not any less stressed!!

pennyprincess

f0xh0les wrote: »

[FONT=&quot]Decided to email the Mortgage Advisor this morning on the off chance, and immediately got this reply:

Your offer should be issued within 48 hours and the valuation has come back fine and valued at 160k. No retention etc. You will get a copy with your offer anyway but no major problems and lender is happy to lend

So from finding the property on 2[FONT=&quot]1st [/FONT]January viewing on 22nd and mak[FONT=&quot]ing an [FONT=&quot]offer and being accepted the same day[/FONT][/FONT], the first meeting with the mortgage advisor on 30th Jan and choosing the product, it has taken until today 7th March to get a decision.

They have mucked about with affordability, reduced the amount by £5 a month(?), decided to offer the full amount over 18 months longer, forgotten to instruct a valuer (which I think has added 3 weeks to the process) and finally, it took 5 days from the valuation to telling me that it was fine[FONT=&quot], and I had to chase the MA for her t[FONT=&quot]o let me know.


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Great new Foxh0les - guess I will be waving the Accord hostage flag from now - your valuation was a couple of days after mine but I have not heard anything back you will miss it here:p