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

Lemonade_lifestyle_2

Yikes - best of luck Rhett. I'm sure it will all work out fine!!

We have asked the accountant to email a copy of the letter in lieu of the hard copy not being received yet.
Maybe tomorrow we might get notification of a real offer *sigh*

tomelk31

Here is another update to our mortgage wait.

Currently waiting for our mortgage offer as well.

Timeline:
DIP: 9Th January
Offer Accepted: 15th February
Mortgage Application: 19th February
Request more bank statements: 26th February
Mortgage approved subject to valuation: 4th March
Requested gift deposit letters: 4th March
Valuation Booked: 7th March
Valuation Completed: 9th March
Requested new gift deposit letters: 11th March (Rejected the first lot provided by broker)
Require additional surveys: 17th March (Asbestos / Flood)
Gift Letters approved: 23rd March

Been a long 5 weeks and we are still going. We are currently purchasing a house which requires some work to be done. We thought after the valuation we would have our offer but NO. The surveyor has asked for a flood report as there is a DRY stream at the back of the property. We have provided the flood searches the solicitor has done and hopefully that is enough. We are also having Asbestos samples taken as the surveyor has said there is asbestos in the garage and we have ARTEX ceilings so potentially in there as well. This is being done this week so I'm hoping in the 2 weeks we receive our offer but the bank holidays won't help.

Good Luck to everyone else!

BelfastFTB

Evening all!

We've now been advised it could be up to three months before anything's concrete, as the boundary error on the title deeds will have to be corrected before the property can be titled for sale. The vendor's solicitor has applied for this, and obviously will pick up the tab, but it's mightily frustrating.

Fianc! is becoming very good at looking on the bright side, though... "At least we'll be able to squeeze another few quid from our HTB ISA!"

BelfastFTB

tomelk31 wrote: »

Here is another update to our mortgage wait.

Currently waiting for our mortgage offer as well.

Timeline:
DIP: 9Th January
Offer Accepted: 15th February
Mortgage Application: 19th February
Request more bank statements: 26th February
Mortgage approved subject to valuation: 4th March
Requested gift deposit letters: 4th March
Valuation Booked: 7th March
Valuation Completed: 9th March
Requested new gift deposit letters: 11th March (Rejected the first lot provided by broker)
Require additional surveys: 17th March (Asbestos / Flood)
Gift Letters approved: 23rd March

Been a long 5 weeks and we are still going. We are currently purchasing a house which requires some work to be done. We thought after the valuation we would have our offer but NO. The surveyor has asked for a flood report as there is a DRY stream at the back of the property. We have provided the flood searches the solicitor has done and hopefully that is enough. We are also having Asbestos samples taken as the surveyor has said there is asbestos in the garage and we have ARTEX ceilings so potentially in there as well. This is being done this week so I'm hoping in the 2 weeks we receive our offer but the bank holidays won't help.

Good Luck to everyone else!

Fingers crossed for you! We've got to the 'checks'-point with the solicitors and it's ground to a halt. This is where the real fun starts...

Steameh

Just submitted my mortgage application via a broker to the Halifax.

Within minutes the broker has come back to me and said it's been approved subject to the valuation.

I've had no financial grilling, just provided 3 months bank statements, proof of deposit, proof of income etc.

Is this normal? I was expecting a few days followed by a 'what do you spend your money on' interview?

Lemonade_lifestyle_2

Hi steameh yes this is right. That's how it was with us. You will instruct your valuation and then once they have received the valuation of the property then it will be passed to the underwriters that's when you may be asked more details.
As my husband has gone self employed during the last three years this is when we have now started to be asked for further papers from his accountant/ last p60 so on so on.
If you are PAYE you will most likely get your offer 3-4 days after your valuation. !!

Good luck!!!!

rhett

Goodness me you're brave! Completely understand the motivation but it must be so scary too. Hope all goes to plan for you - apparently average time from application to offer is 10 days with Nationwide currently. Do you have a family member or friend you can stay with in the short term if you need to?

Thanks Lemonade & AmyLoo We are very much hoping it goes our way! But today we spoke to my husband's parents who live a 40-minute drive from where we are and they've said they'd be happy to have us if it comes to the worst!

We called Nationwide again today and spoke to another woman who said what we were told yesterday wasn't right. NO Nationwide will not be instructing their own valuation and YES they will take the valuation figure from our refreshed Scottish home report. She said that the transcript of the home report is the ONLY THING OUTSTANDING on our case. So we just really need our brokers to chase up the surveyor to send over the transcript to Nationwide!

However, when I called my broker today to ask for an update - I was just fobbed off with a "no update yet, Nationwide are inundated with applications at the moment because of the rise in stamp duty on second properties." What is going on here? Do they genuinely not have the same information that Nationwide gave us directly, or are they dismissing us?

I'm reluctant to tell them we've been getting updates directly from Nationwide, as they get really funny with us and I really want them on our side should something go wrong . . .

Oh Belfast that's a very good point your fiance makes - every extra month FTBs are messed around we can bank up to another £50! Silver linings eh?

Steameh is that definitely a full application your broker submitted, or a DiP? If it's the former, then that's amazing! Is yours a very straightforward case, i.e. it's just a basic permanent salary that needs to be assessed?

rhett

Hi steameh yes this is right. That's how it was with us. You will instruct your valuation and then once they have received the valuation of the property then it will be passed to the underwriters that's when you may be asked more details.

Oops, sorry, x-posted. So do Halifax have a different process from Nationwide then? I got the impression Nationwide don't instruct valuations until your application and documents have been checked. Do Halifax just instruct the valuation immediately and look at everything all in one go?

I am so green!

luis1988

Steameh wrote: »

Just submitted my mortgage application via a broker to the Halifax.

Within minutes the broker has come back to me and said it's been approved subject to the valuation.

I've had no financial grilling, just provided 3 months bank statements, proof of deposit, proof of income etc.

Is this normal? I was expecting a few days followed by a 'what do you spend your money on' interview?

That sounds very fast indeed! We have gone with Santander and from applying to 'mortgage agreed' took 4 working days. I expected a grilling over financials as well but only needed to provide bank statements and a couple of payslips! The application online now says 'Underwriter decision: Application agreed' so just waiting on the valuation which took place this morning! It's strange, some people get a grilling and others fly through, ours was with a MA which probably helped a lot.

jonny_power

Submitted our Santander application on Monday. Today (Wednesday) had contact saying it was approved by underwriting and passed to valuation. Immediately the EA rang to say they had contact by the valuers and were hoping for tomorrow. So far things happening very fast