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

dgtazzman

After some words with my MA and a talk to my father, I've managed to scrape together a 15% deposit to apply for a Santander mortgage on a new build.

Luckily my mother left me some money when she passed 3 years ago. I left it in my father's care as I didn't want him to have to deal with any financial strain, but he's now going to pay me the inheritance to put towards the deposit, thus saving my behind.

09/03 Full application submitted to Santander for 85% LTV mortgage over 30 years.

Ftb2016

Hi everyone, I found this forum useful when going through the process so thought I'd share my experience. I'm a first time buyer in Manchester with a 10% deposit.
4th Feb - viewed house
5th Feb - put offer in and was accepted, £134,500
9th Feb - met with mortgage advisor, he said Virgin money have the best deal at the moment, he will apply. Same day got DIP
10th Feb - sent all my docs to MA
12th Feb - MA makes full application
17th Feb - survey (homebuyer report £350)
19th Feb - virgin said they will not lend me the full amount due to me paying into a 9.1% pension!! And they'll only lend me £116k (I asked for £121k). I was annoyed withMA as I had given him all my details and he hadn't declared the pension to Virgin and they picked it up on my payslip. Decided to get rid of MA and go to my bank Halifax and apply directly. Got a DIP from Halifax on same day.
22nd Feb - made full application to Halifax. They said as I have banked with them for 15 years I only had to send them my most recent payslip.
26th Feb - Halifax received my payslip and booked Valuation for 1st March (they wouldn't accept Homebuyer survey that I already had, had to do their own)
1st March - Halifax valuation, £315
4th March - mortgage offer received and sent to solicitor
7th March - sent £300 to solicitor to start the searches. It is a probate so expect it to take slightly longer than usual to complete.

Personally I would never use a MA again. It's easy enough to compare mortgages online and find the one you want. As long as you have your documents in order the application is straight forward.

TheAnalyst

TheAnalyst wrote: »

Thought I'd add my bit here.

Our MA just submitted our full application to Woolwich last night. We're hoping to borrow £137750 which is 95% (HTB Mortgage Gaurantee) of the valuation of our new home at £145k.
The purchase price is actually £150k as we had to offer over to get it, so our total deposit is £12250.

The sellers home report was done by a small outfit in Glasgow that I suspect Woolwich wont recognize and we will have to pay for our own valuation. How does it work, lets say the surveyor goes out and values it at £150k? Does everything get recalculated and we would only have to come up with £7500 instead?

The MA advised that his BDM told him the average time for them processing applications at the moment is 5 days, hopefully we will receive something in the week or so.

Fingers crossed!

Just wanted to update this, we got our mortgage offer today!

I have to hand it to the Woolwich, they didn't hang around, even got a survey done on the property same day as I told them I wasnt happy about waiting for another week (hoping to move in on the 6th April and was getting pressure from the chain)

So 10 days from full application to offer, cant complain at that, we were quite worried too :rotfl:

Happy days!

luis1988

Hi everyone!

We are about to submit our mortgage application to Santander via our MA! Pretty nerve wracking!

Has anyone applied to Santander lately? Can you give me any idea on how the process has been (have they really scrutinised your bank account, timeframe etc)?

Also, I found the 'Santander for Intermediaries' https://www.santanderforintermediaries.co.uk/ website. Will I be able to use this to track the application?

Many thanks !

VictoriaOz

luis1988 wrote: »

Hi everyone!

We are about to submit our mortgage application to Santander via our MA! Pretty nerve wracking!

Has anyone applied to Santander lately? Can you give me any idea on how the process has been (have they really scrutinised your bank account, timeframe etc)?

Also, I found the 'Santander for Intermediaries' https://www.santanderforintermediaries.co.uk/ website. Will I be able to use this to track the application?

Many thanks !

Good luck ✌️
I wish Leeds have mortgage application tracking process online,they are slow in process:(((

Champagnelifestyle

Got some news today- valuation finally booked in for Monday after some faffing by the owner so L&C said we'll have a decision by Wed/Thurs - application has been through underwriters so literally just waiting for valuation now. Hope everyone has the news they need soon! happy friday alll

ksjohnson

ksjohnson wrote: »

Do we win for most time consuming / nightmare first time purchase?


03/10 - view house, love it. Decide to act quickly and put offer in but by that time Estate Agents had closed.
05/10 - Monday morning, call and in the 2 hours between seeing the house and the estate agents closing, an offer had been put in and accepted! Bear in mind the property had been on the market for months. We put in an offer anyway and in the end the seller accepts ours!
19/10 - Mortgage offer approved via L&C with NatWest. The our MA is off sick for nearly 2 weeks which we didn't realise, stalling everything.
03/11 - Major stumbling block - my wife owns a flat with her sister which was rented but not on a buy-to-let mortgage. Her sister was in the process of buying her out, so MA spoke to NatWest initially and decided not to include it in affordability. However it seems we now need to provide confirmation that my wife's name is no longer on that mortgage before we can proceed. Goalposts officially moved. Cut to.....
16/02 - Finally my sister-in-law completes on the flat and my wife no longer owns it.
25/02 - We finally get the letter to L&C / Natwest confirming her name is not on the mortgage. Mortgage approved subject to valuation (however we thought we were at this stage last time)
29/02 - I'm waiting to hear from L&C what I hope will be a date for the valuation, and not another stumbling block!


How the sellers have stuck with us I don't know. Luckily it was a family home and the son of the family lives next door, so he has a vested interest. It was his mum's house but she passed away.


I'm not someone who gets too stressed, but it has been a dark winter trying to get this sorted. I'm praying for good news this week!

04/03 - L&C advise we should hear next week on the valuation date
07/03 - I chase L&C, no response
09/03 - I chase L&C, no response
10/03 - My wife chases L&C, gets told Natwest want the latest copy of our bank statements. Valuation can be booked at the same time as this is being looked at - we get details of valuation company and pass them on to the estate agent. Estate agent calls, gets told Natwest have not instructed them to go ahead. We go back to our broker at L&C, no response.
11/03 - After multiple e-mails and phone calls the broker finally bestows us with a response, and it turns out the valuation will not be done whilst our latest bank statements are analysed. This 'should' be done by Tuesday or Wednesday next week.


The whole process is a joke - I don't know who to get more peeved with, L&C or Natwest. In the meantime the 'get you on the hook' sales person at L&C has called me multiple times trying to flog their mortgage cover on a mortgage they seem not arsed at all about sorting out.


Where can you go! I feel like getting shot of them all and going elsewhere but I don't want to go back any further steps.

f0xh0les

Just popping back in to say 'Hiya!' :wave:

I am still waiting for the magical mysterious 'written confirmation of offer' which has been nailed to the wing of a carrier pigeon, who now has to walk from Newcastle to Leicester to deliver it to me. :rotfl:

So in the latest news, the roof survey has come back with not a lot of work to be done, just 2 rotten velux and a lot of lead to be replaced, not too bad for a 116 yr old roof, but as there would be 3/4 flights of scaffolding ( I have no idea if scaffold comes in flights, but if it doesn't it should!!!) it bumps the price up, so all in all the quote was for £3,300. Which is awful considering I read the report and thought 'Yay, nothing too serious then!' but the guttering is knackered.

Poor house, it really has been unloved for too long.

Spoke to the solicitor today, asked if we could knock 3k off the price please, our surveys have come back with £7k of work to be done asap, and a few things which can only be investigated properly once we own the house. And the vendor is refusing to have an electrics/gas safety cert done, which makes you wonder if it is all about to fail... Good job we will have a few £££ after the sale.

Anyway, the solicitor assures me we are still in a position to have the keys in my hand by 29th March

It is this waiting and not knowing that drives you crazy, but even after you get the decision, your solicitor has to wait to get the written confirmation of offer before they can do anything. Add another week to your timescale folks!!!

But at least you know you can borrow what you need.

So another weekend where nothing is going to happen..............

Keep your collective chins up - you will get there (eventually). The person that invents the 3 week guaranteed mortgage/conveyancing package will make a fortune.

pennyprincess

Still no news from me BUT got title deeds and contracts from Solicitors today in post which really surprised me since I did NOT expect them to act until we had a formal offer ( they are no completion no fee although we have paid for searches obvs) I am really really hoping they know something I don't ! I promised the broker I would not email him until next Tues as I felt guilty for hassling him so I will have to wait util then I guess If we don't hear anything before!

GoldenCrunch

Applied 23/02 Nationwide via Broker

Currently appealing a valuation.

Good luck everyone, it's great to read everyone's mortgage journey so far.