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

RedFTB

My husband phoned our mortgage provider today for an update. I'm so stressed/worried and wanted to know what's going on as they did the valuation on Tuesday so wanted to make sure that was ok. They told him that the application is with the underwriters and we should have a decision by the end of tomorrow. He didn't ask about the valuation, but I presume it must be fine with it being passed to the underwriters?

Timeline:
12th March - viewed house and had offer accepted
16th March - applied for Mortgage
29th March - vaulation and survey carried out
30th March - email from building society saying they have received valuation

deegsy

So frustrating my buyers mortgage is currently on week 10 of processing...........................
So tempted to pull the plug and re market my house but i may lose my purchase, stuck between and rock and a hard place at the moment.

danjones323

Hi all. Thought I'd post my turn of events as my situation is quite unique. I had to stop reading posts on here for a while as it made the waiting so much more painful!

Myself, I have what Experian define as "early arrears 1" on my account, up to 7 of them on different accounts (5 1/2 years to 3 years ago). Had a bit of issue with credit and spending money. Over the last 2 years I sorted that out with a consolidation load and removed all credit accounts apart from my current car.

Along with this, I have 40 (!!) Wonga accounts that were opened on a monthly basis, again, I had a problem with money. All paid on time, etc. Stopped using Wonga last year February.

I'm now an IT contractor with a 12 month contract (5 months left) and went via a mortgage advisor. My partner is also joined on with a just over the minimum wage salary.

1st March - Reserved a new build property.
The same week, we applied to help to buy Wales.
8th March - Got the offer from Help to buy.
10th March - AIP arranged with Halifax.
14th March - Applied to Halifax for mortgage with the pre approved AIP.
31st March - Valuation completed.
April 1st - Mortgage offer came through to advisor electronically.

Safe to say, I'm chuffed to bits. Hopefully some of the above helps a little if anyone is in any situation of arrears, contracting, Wonga, etc.

Any questions, let me know.

EhJack

Just an update to say I've received my offer in the post today

Going to conclude missives next week! I just wanted to say this thread has kept me sane! I wish everyone still waiting all the best with their applications.

As long as you've been upfront about everything you will have no problems at all, even if you have tiny things you are worried about just talk to your MA they are there to help. Mine is probably glad to see rid of me but they've been so assuring with any worries I had.

All the best!

RedFTB

Had an email from the building society to say that we have been accepted and the offer is in the post so relieved.


I can't believe how easy it is, though. Have seen so many tales of interviews lasting hours and people being asked how much they spend when they go out etc. We didn't have any of that - just had to send 3 payslips and the latest bank statement. Everything done online, aside from taking the slips into the branch to send off.


Anyway, as I haven't found many positive posts about Yorkshire Building Society - here is our timeline for those wondering.

12th March - viewed house and had offer accepted
16th March - applied for Mortgage online (DIP and full application on same day)
17th March - requested proof of ID for me (not for my husband though), 3 payslips each and a copy of the latest bank statement showing our salaries being credited to the account
24th March - sent the requested info off via local YBS branch (was a delay as waited for payday so all up to date)
29th March - valuation and survey carried out
30th March - email from YBS saying they have received valuation
1st April - email to say our Mortgage application has been approved and the offer has been posted out to us


Now to get our solicitor moving - they haven't asked for money for searches yet!

Boffles12

We had the mortgage offer in the post today. Special conditions state 'this offer is issued on the understanding that the following commitments will be repaid on or before completion of this loan:
Credit card with an approximate balance of 125.

The balance on credit card is 2600 and I pay 125 a month. Is that right? Or do I need to phone the lender? Worried now!

Natalie1980

Just had a text from Nationwide today telling me a valuation has been booked for next Tuesday. Does that mean I've passed preliminary checks? Is the valuation the last bit of the process for Nationwide?

MEEEE

Have asked this myself before but never get an answer.

As for me valuation was done nationwide under valued property less 3k was told was not illegible for initially product therefore had to do amendments but broker is off for week since last week application been on halt since then and am fuming nationwide won't take any changes off anyone from the agent apart from the broker who did initial app so have to wait till next week wen broker resume work so have lost a full week and lawyers not moving at all stressful


Good luck Natalie all being well you should get offer Asap then

hw1409

Natalie1980 wrote: »

Just had a text from Nationwide today telling me a valuation has been booked for next Tuesday. Does that mean I've passed preliminary checks? Is the valuation the last bit of the process for Nationwide?

I have just completed with Nationwide and the valuation was the first thing to be done. They were still asking me to send in extra documents after the valuation had been carried out.

rhett

So frustrating my buyers mortgage is currently on week 10 of processing...........................
So tempted to pull the plug and re market my house but i may lose my purchase, stuck between and rock and a hard place at the moment.

Nooo! Don't pull out! That would be devastating for your buyer - I'm sure they're doing everything they can to get things going, but so many things are out of the buyer's hands during the conveyancing process. It's especially busy around the beginning of April due to the stamp duty changes, but perhaps now things will speed up!