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

Mizenberg

Ah no, hope this doesn't affect us in a negative way then! Initial mortgage promise was for 195K, application to go in for 173 later this week, with an LTV of approx 82%..

Dee_FTB

I am also waiting for an offer from Leeds. I submitted my application on 25/2.
02/03 - valuation instructed for 07/03
03/03 - Received an email from underwriters requesting more documents
04/03 - additional information sent, employer reference requested by leeds.
07/03 - valuation done

Fingers crossed I will hear back from them this week.

VictoriaOz

Dee_FTB wrote: »

I am also waiting for an offer from Leeds. I submitted my application on 25/2.
02/03 - valuation instructed for 07/03
03/03 - Received an email from underwriters requesting more documents
04/03 - additional information sent, employer reference requested by leeds.
07/03 - valuation done

Fingers crossed I will hear back from them this week.

Fingers crossed.
24.02 valuation done
08.03 more info sent by our MA
MA hope Leeds will be in touch with him monday or Tuesday
For me it's stressful process

jacksons_mum

Arrrrrrrrrrrrggggggggggghhhhhhhh - Natwest Mortgage Application driving me crazy!

here is our timeline

20th Jan - DIP via broker and offer accepted
25th Jan - Application submitted to Natwest
3rd Feb - 23rd - Additional info requested numerous times, only asked for one thing at a time and took at least 3 working days to look at it then ask for more info, all info was sent immediately upon request.
23rd Feb - Valuation Survey booked
29th Feb - Valuation Survey done
8th March - Surveyor has noticed a crack and bank want it assessing by a structural engineer. we have send them a copy of our homebuyers survey which doesnt even mention crack hoping this will suffice but know it probably wont!

dgtazzman

kingstreet wrote: »

Abbey/Santander max is 85% on newbuild. They don't lend 90%!

Hmmm, well, that's not good news, though my broker got a dip at that LTV. Will query it with him asap...

Thanks for the warning.

EDIT: On checking the Santander lending criteria, you are fully correct, can't believe my MA suggested this You've saved me a lot of wasted time.

Chrisrules334

Just about to get on this bandwagon. 75% LTV, 2.19% fix with FD for 5yrs. Going to get home buyer valuation in there too. Complication early doors... Girlfriend has taken out 'too much credit' recently per Expedia. 2x current accounts, CC and mobile phone. Annoyingly we did the first 3 things to Help get a mortgage! She didn't need the CC! Grr. Also turns out she was taken off the electoral roll as our council is moving online so are reregistering everyone. Super. Will call FD prior to requesting mortgage to check these things are OK.

We're looking at about 4.2x Annual salary, no commitments other than mobile phone and hopefully the 25% deposit shows we can survive.

Stress testing to 7-8% is ludicrous, the interest rate won't get that high again imo. We're going to be stuck in perpetual low rates much like Japan. Let's wait and see though!

WorriedFTB_2

At last we had an offer "subject to valiation"
Valuation is booked for tomorrow, fingers crossed !
I am glad our MA didn't give up when we got declined by Leeds , she insisted in trying with another lender ...

Oh my god This was a long wait - 9 weeks from viewing the house until mortgage offer ...

Still much to come until conpletion ....

Best of luck all !
And Thanks for updating here and giving me hope

Mizenberg

WorriedFTB wrote: »

At last we had an offer "subject to valiation"
Valuation is booked for tomorrow, fingers crossed !
I am glad our MA didn't give up when we got declined by Leeds , she insisted in trying with another lender ...

Oh my god This was a long wait - 9 weeks from viewing the house until mortgage offer ...

Still much to come until conpletion ....

Best of luck all !
And Thanks for updating here and giving me hope

Good luck to you, and everybody else! And me obv.. :rotfl:

gjheward91

Nearly 4 months on and MA has said an answer should be tomorrow!
Quick question though.... reservation fee.... I paid £250 to reserve the house (new build) do I get this refunded on completion, or taken off the mortgage or anything?
Surely they don't just get to keep it?.. do they.....

kingstreet

gjheward91 wrote: »

Nearly 4 months on and MA has said an answer should be tomorrow!
Quick question though.... reservation fee.... I paid £250 to reserve the house (new build) do I get this refunded on completion, or taken off the mortgage or anything?
Surely they don't just get to keep it?.. do they.....

It will be accounted for in your solicitor's completion statement.

Effectively, the builder's solicitor will ask your solicitor for £250 less than the agreed purchase price.