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

Lemonade_lifestyle_2

Yes Halifax do the valuation BEFORE checking your papers. Which means that you can pay out for a valuation and then if the underwriter determine that they won't offer a mortgage to you, you will have lost the money spent on the valuation. Other banks seem to check your papers and financials first and then when happy instruct valuation.

Steameh

Seems a bit of a crappy way of doing it from Halifax then. Especially how the valuation fee is £315.

So basically the broker telling it's 'gone through' means nothing? Do they not even run a full credit search before asking for valuation?

Boffles12

Does anyone know nationwide process?
Application submitted 11/3
Only requested 1 pay slip from me and 3 from partner. Gifted deposit template. No bank statements!
Asked for letter of proof of partners pay rise on 16/3
Valuation booked 16/3 for 29/3
Letter sent 16/3 evening
Phoned 21/3 all documents satisfactory awaiting nothing from us. Hasn't been sent to underwriters yet they said it may not be?
Just waiting for valuation now.

deegsy

I went through nationwide and it goes through the underwriters AFTER the valuation, took 2 weeks from valuation to offer for me.

Lemonade_lifestyle_2

So it would appear our 'non valid' mortgage offer was also sent to our solicitor too as I have received a letter from him today advising he has received the mortgage deed!!

Meanwhile the accountant e,ailed a copy of the salary confirmation yesterday to broker, broker has passed this onto Halifax this morning. Halifax have now confirmed that they have passed our application to the underwriters and should have a decision by Tuesday.

So our solicitor has now instructed surveys based on the mortgage offer that he received yesterday, we have not received anything in writing from Halifax to say the mortgage offer is invalid. If we had never rung the mortgage broker yesterday to advise that we had received the offer letter she had no intention of calling us to advise that an offer had been sent to us in error!

I do hope that there is not going to be a problem with the underwriter now as I think my husband will :mad::mad::mad::mad:

Could there be a possibility that the underwriter will ok it same day as receipt?

Hmmm how did an offer get printed and posted when an underwriter had not seen it before????

Boffles12

Does that mean they are likely to ask for further documentation after valuation?

We are FTB with a 185k house 90% LTV. Not sure why they haven't asked for bank statements.

Lemonade_lifestyle_2

Depends on your lender boffles. Some lenders do all paperwork checks, salary checks etc before valuation.
Halifax do valuation and then paperwork checks.
I hate Easter holidays if there was no bank holidays then I would probably have our decision by Friday. The whole thing has only been 3 weeks but it feels like three months!!!!

Triple_sea

Wow this thread is great counselling! First time poster wanting to thank all those that have posted here. Having started a mortgage process myself last week I have found already that it is an incredibly anxious thing to go through.

My own situation involves some credit issues c5yrs ago that I am hoping do not come back to haunt me now as they done in the past. Halifax mortgage app submitted. Credit checks done but now with an underwriter who requested a letter explaining my past issues and setting out why I am different now. I put together a letter that I think is a literature masterpiece and I'm hoping it does the trick.

Expecting news on Tuesday... The anxiety is going to drive me to excess Easter eggs. That's my excuse anyway.

Good luck all

pennypot1

Hello all fellow nervous nail, finger and hand biters. I've been lurking for a while and found a lot of comfort reading this thread and following other people's mortgage processes. I was about to fully throw myself into the mix of this thread as we have been waiting for 4 weeks from when we submitted our application to Natwest. BUT sods law I just heard from them an hour ago and they have instructed a valuation to go ahead. *Punches fist in the air*

You're probably wondering why am I still here then.. Well I thought it might bring another reader/lurker some comfort on hearing our situation.

We are FTB.
No debts.
Clean good credit history.
Husband is self employed with SA302 history of 2 years.
I have 2 jobs on PAYE.
Our LTV is 34% Deposit (part gifted, part saved) on a £250'000.00 property.
It all seemed very straight forward but then..

Natwest got back to us asking for P60's and 12.. yes 12 months worth of my payslips.
After another week they asked for a copy of our marriage certificate (whyyyy??)
And after another week they asked for tax references and a written signed letter from both of us giving consent for them to contact HMRC for further information.
It was all quite stressful.. as a lot of the posts I had been reading were about lenders asking for 6months of payslips and that caused people to be concerned.. so you could imagine me thinking.. Why do they need all this?! I found out today that we had been selected for a random audit.. someone out there wanted to do their job super super well with our application..

I just wanted to say don't threat if they ask for lots of things like they did with us. As long as you provide it and have nothing to hide, it is all good. Good luck to everyone else who is still waiting x

f0xh0les

Well that was quick!

Got the written offer yesterday, rang solicitors, we were in at 10.00 all mortgage docs and exchange forms signed.

In order to avoid the £25 CHAPS fee on the deposit transfer to the solicitor, I am transferring £25k today and the balance tomorrow (most banks have a £25k-a-day maximum withdrawal without fee), so we should exchange and complete on Wednesday next week.

Just had the solicitor email me to say that Accord have not set up the mortgage account yet!!! But that is for her to chase not me.

Good luck to all, hope you all avoid the £25 chaps fee now. It is bad enough having to pay for the solicitors to transfer the deposit, I was not going to pay it twice!