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

kellsm

Congratulations !!!!

Barney72

More brill news simplelife congrats the worry is over

mildredalien

Well things are progressing finally, HSBC have assessed our application and have requested specific documents through our broker (payslips and current account/deposit account statements for 3 months). We had all that ready in pdf form so have emailed it all over and signed the mortgage declaration and DD mandate that they also need ready to post tomorrow. Apparently they will automatically cancel any application where the docs aren't received with 5 days which seems a very tight turnaround given that we have to send everything to our broker first!

Timeline so far:
26th March - Offer accepted on house
29th March - Broker informed and starts checking for most suitable mortgage
31st March - apply for HSBC mortgage through broker
7th April - HSBC assess application and request documents

kellsm

Does anyone know why my Halifax mortgage search isn't showing on any credit reports yet? My DIP didn't show either but both were approved. Well experian and Equifax haven't shown them. All details were correct as I've checked.

kellsm

I've just seen it all on noddle. Strange !

Barney72

Hi all had a little update from my MA they said Halifax are waiting for amended valuation report from surveyor. It's on a new build and they said the right amount but had something to do with incentives he input, its a HTB so thinks it's that as only incentive we got were free carpets. I feel a little less stressed as original valuation was done 24 March and til today heard nothing

tomelk31

Here is another update to our mortgage wait although we are now very close as the solicitor has finished all searches and enquires and we have signed the contracts. The offer is the final hurdle!


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
Asbestos Samples Taken: 31st March
Asbestos Results: 1st April
Solicitor Sent Contracts to Sign: 5th April

We received results back on the 1st April for the Asbestos Survey. It confirmed there was and now just waiting for Platform to review the survey comments and we will get a call on the 13th April. We are hoping for an offer by the end of the week and then we can exchange the week after. We are currently on week 8 so everything apart from the mortgage offer has gone quickly.

dolstar86

Hello everyone.

There are a lot of people google searching offers and mortgage applications if one of your joint purchasers has a default.

Here's our story, hopefully it'll help to provide assurance - but as always no one case is the same and here's why a broker worth their weight is always a recommended path to tread.

My credit history: squeaky clean:A
Husband: late payments, and default from telephone provider and student account when he moved from his parents house after graduating. Didn't find out till roughly 2 years after and cleared both in 2010 and 2011 respectively.

Fast forward January 2016 and we want to apply for a mortgage and get a bigger house while trying to beat the stamp duty move.

Late Jan 2016: Offer accepted on house 1
Late Jan 2016: Mortgage in principle agreed with Halifax followed by a full application, which was approved despite the default!
Early Feb 2016: Searches received on the house, all that's left are a few enquiries and we are good to exchange... we thought
Early Feb 2016: Seller tells us they can't exchange until May, whereas when we gave our offer they claimed they were in a chain of only one (probate + probate granted) and they foresaw completion in 6 - 8 weeks max since the conveyancing on the onward purchase was already in place and they were just awaiting a buyer. (Bear in mind their property had been on the market for over 6 months before our offer)
Mid Feb: Sellers solicitors write to ours to say that the seller no longer wishes to proceed
:mad:

So back on the property hunt we go... no way we were meeting the stamp duty deadline now, which meant we'd have to reduce our LTV from 20% to 15% to be able to pay the excess stamp duty cost - and move in with no money for furniture probably! :rotfl:

After weekends of endless searching and one declined offer (thank goodness in hindsight), we found a great property.. It was above our budget, but we wanted to see it nevertheless. We did - put in an offer which was accepted same day!

Default 1 - erased as 6 years in March;
Default 2 still on report!
Broker advised we try another lender with a free valuation offer and cheaper monthly payments since we were now reducing to 15% LTV.
Went with Santander and full application went in on 1st April, and confirmation of offer received on 8th April and valuation was earlier on that day.

We are delighted and I guess the morale of the story is find a great broker who knows the market and can advise on default situations. There are lenders out there, including some mainstream ones with underwriters who are humans and not machines. I hope for the best for everyone else and will update again when we receive the paper copy of the offer and valuation report.

I hope someone finds my ramblings helpful :A

Natalie1980

I think Nationwide are torturing me. They received the valuation report last Tuesday. Where is my offer?

JJASMINE

SA302s finally arrived from HMRC on Friday so posted them special delivery on Friday.

Just a waiting game now as they have the valuation...