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

houseownerwannabe_2

spendaholic1986 wrote: »

Valuation has just been booked with Woolwich for 20 April! Does anyone know if this means we have passed the affordability/credit check bit? So nervous!

Let me know if you get an answer to this as mine was instructed today and I'm really anxious! Good luck!

lincsboy_2

AIP April 8th valuation booked on the 15th valuation unsure what properties construction is although we're 99% sure it's block. Today we've been told by our MA that the bank will lend us the amount we need subject to a structural engineer report.

So in one sentence great news looks like we've past all the checks on the other hand hope the report comes back ok.

Quick question do you think the valuer will have told the bank it's worth what we're paying but because he's unsure about construction we have to get a engineer to confirm?

Anzhelka

Waiting for valuation as well...but our broker said, that's the first step and then they will do the rest checks...

banks4u

Our valuation took place yesterday with Halifax so hopefully all ok and have an offer soon

mildredalien

Well there's movement on our mortgage application but it's still slow and frustrating! HSBC finally looked at it this week and our broker says that they are happy with affordability. They randomly queried one small direct debit from my account (which is for a professional body fee).

Unfortunately we've also discovered that a paid/settled loan that my husband took out years ago has randomly just been updated on his credit file saying that it was only settled in 2015 (it wasn't), that it was for about £20000 (it was for £3000), and that it's now gone into a DMP this year - years after it was actually settled! :eek::mad: No idea why the loan company have done this, but DH has fortunately got emails to prove the correct dates and the loan company have provided confirmation that the credit file information is wrong. The broker has sent all this to them and says that the underwriters are looking at it again tomorrow so we are crossing all fingers, toes and limbs that they accept this...

Next step valuation date I hope?!!

dgtazzman

I can also jump on the band wagon again.

After Nationwide withdrawing my mortgage offer due to a change in internal lending criteria (will no longer lend on income receive in EURO) and my mortgage adviser botching up an application with Santander (first he advised the wrong mortgage product and then miscalculated affordability, meaning when the application progressed they couldn't lend me the amount needed because of a personal loan I had, which has now been paid off, which could have been done before the application was put in, but MA said it wasn't needed), I am now trying my luck with HSBC. On paper my income is more than sufficient for the mortgage required, but Santander have the policy of only taking 75% of income paid in EURO into account, so it makes things a little tighter, though still possible within Santander's affordability calculations.

I have applied online, without taking mortgage advice from them as I knew which product I wanted etc. I also still have contact with my own MA if I need any assistance. He still owes me one from botching up the Santander application.

I did try to apply with HSBC a few weeks ago, but their online system kept crashing, so I got nowhere and ended up with 2 credit searches on my file for my efforts.

The process, this time, seems to be going unexpectedly smoothly so far...

18/04 Started application, initial credit check and received DIP
18/04 Further personal details requested via the online system, filled in
same day.
19/04 Application picked up, full credit check carried out
21/04 (AM) Confirmation I passed credit check. Requested to provide details for solicitors, direct debit and valuation. Requested payslips and bank statements for 3 months. Had to phone them to ask if online statements were ok, at which point they told me I had to go in branch for an ID check and that I would be receiving a statement I would have to sign and return in the next few days to confirm I am happy to proceed without full mortgage advice.
21/04 (PM) Popped into my local branch for the ID check and submitted all the requested documents. Also included a few documents I suspected they would request later down the line, to save time and hassle. A few hours later the status on the online system has changed to 'Decision obtained' and 'Application under review' with the comments stating they are awaiting receipt of my submitted documents to confirm my income, but it sounds to me that if those are in line with what I filled in during my application, the mortgage offer is as good as approved.

I was suspecting to have to jump through a load of hoops as HSBC is said to be very picky, but if this keeps up, I might have a mortgage offer in a week or so, pending availability of surveyors for the valuation (had a valuation previously which came in at full sale price, so should be a formality) . Wouldn't have bothered with my MA with the botched Santander application if I'd know things would be so painless with HSBC, though anything could still happen, ofcourse.

Few minus points:

- You can take documents into your local branch, but they can't scan them onto their system, they also have to send all documents to the center that deals with mortgage applications, so it doesn't really speed things up. They are able to tick off the ID check in their system, which I guess is what prompted the status update on the same day today.
- If you apply online, the information on the online system seems incomplete/limited, so you end up having to call them. Luckily this is a 0800 number as I've only been on hold for around 10 seconds before getting through so far. I should in theory also be receiving text messages with updates, but so far haven't had a single text. I have to keep checking online. They have my correct mobile number on file.

banks4u

Broker advised Halifax has offered my mortgage let's wait for the post now

nicole19922

We had our offr accepted on the 18th, and I just forwarded the relevant documents to my broker so he can do the ful application.

We're going with Natwest as I bank with them, hoping we will get a mortgage offer. Only thing I'm concerned about is I've beeninto my arranged overdraft (£50) every while we've been saving, and one month because the TV licence came out unexpectedly, I went into unarranged. Paid money in the same say though.

I'm panicking and it's not even been submitted yet! :eek::eek:

dgtazzman

Most banks have a grace period before going into your unarranged overdraft gets registered. I asked Lloyds a few years ago and was told if it was paid before the end of business next working day, it would be treated as if it never happened, so I'm sure other banks have similar policies...

spendaholic1986

houseownerwannabe wrote: »

Let me know if you get an answer to this as mine was instructed today and I'm really anxious! Good luck!

We have received our mortgage offer! Text last night and offer is in the post! I don't know whether they do the check first but you shouldn't have to wait long after the valuation for a decision!

Good Luck!