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

savingbee

the solicitor will start the searches when they receive the draft contract from the vendors solicitor as the draft contract also includes the plan of the property and deeds x

Dan:_4

savingbee wrote: »

the solicitor will start the searches when they receive the draft contract from the vendors solicitor as the draft contract also includes the plan of the property and deeds x

Thanks for the info. I won't hassle my solicitor just yet then as they only requested the draft contracts Monday!

savingbee

no probs good luck x

vjacx

vjacx wrote: »

Offer accepted 8/10/13
AIP 9/10/13
Full application 14/10/13
Additional Information requested and sent last week. Not yet reviewed by lender.
Further additional information requested 28/10/13 meeting with broker on 1/11/13 to submit this.
Waiting, waiting. Hoping it won't drag too much into November, keeping fingers firmly crossed...

After lots more information requested and submitted - found out that the survey happened, lender expects report tomorrow and barring any issues on that we are good to go. Will be massively surprised if there are any issues, especially as we negotiated a hefty amount off the asking price and it's just perfect (for us). Fingers crossed the end (of this bit of the process) is in sight

Dan:_4

Dan: wrote: »

Sat 9th Nov - Viewing and offer made
Wed 13th Nov - Offer accepted and got Nationwide DIP
Fri 15th Nov - Full Application submitted and payslips, p60, bank statements etc scanned
Sat 16th Nov - Survey booked for 3rd Dec
Tue 20th Nov - Employers reference requested (for wife on maternity)

Fri 22nd Nov - Mortgage approved by underwriter subject to vaulation.

All good so far it seems...

vjacx

vjacx wrote: »

After lots more information requested and submitted - found out that the survey happened, lender expects report tomorrow and barring any issues on that we are good to go. Will be massively surprised if there are any issues, especially as we negotiated a hefty amount off the asking price and it's just perfect (for us). Fingers crossed the end (of this bit of the process) is in sight

Verbal confirmation of offer, no issues with valuation. Written offer in the post - hurray! Have emailed solicitors to say please start searches if you haven't already, but they've had the plans/fixtures & fittings list from vendor and cashed my cheque so I'm kind of hoping it's already underway :j

Keeping fingers crossed for exchange before Christmas and an early January completion - no chain either side so hopefully realistic!

savingbee

vjacx wrote: »

Verbal confirmation of offer, no issues with valuation. Written offer in the post - hurray! Have emailed solicitors to say please start searches if you haven't already, but they've had the plans/fixtures & fittings list from vendor and cashed my cheque so I'm kind of hoping it's already underway :j

Keeping fingers crossed for exchange before Christmas and an early January completion - no chain either side so hopefully realistic!

it should have started as soon as your solicitor received the draft contract unless you stated otherwise. good luck - quite a few of us hoping for completion before Xmas.. fingers crossed hey x

vjacx

savingbee wrote: »

it should have started as soon as your solicitor received the draft contract unless you stated otherwise. good luck - quite a few of us hoping for completion before Xmas.. fingers crossed hey x

I asked them to hold off the searches until the mortgage offer was made, but also sent them a cheque for the money they asked for, which was duly cashed, so I'm not sure! Going on previous contact I'm guessing at least 3 days before they respond and let me know where we are

Good luck to those who want to complete before Christmas - I hope you all manage it! I think I'm in a minority by saying that I want after Christmas - we just have so much going on between now and New Year I don't think I could organise a house move as well. But a completion date set in early 2014 would be lovely...

Dan:_4

vjacx wrote: »

I asked them to hold off the searches until the mortgage offer was made, but also sent them a cheque for the money they asked for, which was duly cashed, so I'm not sure! Going on previous contact I'm guessing at least 3 days before they respond and let me know where we are

Good luck to those who want to complete before Christmas - I hope you all manage it! I think I'm in a minority by saying that I want after Christmas - we just have so much going on between now and New Year I don't think I could organise a house move as well. But a completion date set in early 2014 would be lovely...

We are also are looking to complete early 2014. The house needs a lot of work done to it so we won't be moving in straight away anyway.

Good luck

pinkteapot

Can I join in?

Application submitted to Santander by our broker on Wednesday (20/11).

This house move should have been easy - we're borrowing well under the maximum that all the calculators say we can. But we then learned that a lot of lenders wouldn't consider my salary as I'm on a fixed term contract rather than a permanent job. Cue panic (as we'd found a house we liked and started offering at that point!).

Had to use a broker (grrrr - got to pay him!) as I didn't have time to ring round trying to find out who'd lend to us.

Going with Santander. They won't considering my income either, but they would lend us enough based on MrTeapot's salary alone. Our approval will be based on affordability, not LTV, as our LTV is only 51%.

We're borrowing £245k. We wanted it over 25 years and on affordability (without considering my salary) their computer said they'd lend us..... £243,500! I think the broker was crying at that point. They agreed to do the £245k if we made it 26 years instead. :rotfl:

We actually went for 28 years in the end because (1) monthly repayments will be a bit lower but we'll be overpaying so the original term is irrelevant anyway, and (2) I was worried we'd be declined being so close to the limit of their lending, so increasing the term slightly more gets us onto marginally safer ground.

Anyway, awaiting decision! They have reviewed some of our stuff as they've asked for a re-scan of hubby's payslip (first one wasn't clear enough). Broker says that he breathes easy when they book the valuation survey as apparently they check us before they spend money on checking the house. If they survey it then it should mean they're going to approve our application.

Fingers crossed... Broker says Santander are pretty quick at the moment - he's had some back inside a week, but it's depended on how quickly they can get access to do the valuation. Hoping to have it sorted within 2-3 weeks though.

Summary:

22nd October - Offer accepted
(long pause while waiting for chain to be complete)
20th November - Application submitted by broker
22nd November - Re-scan of payslip requested