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

Zeebs90

Arggh just noticed that my middle name (which I never ever use!) is spelled wrong on our mortgage offer.. have asked for it to be amended so the wait for the offer begins again!

alice_kate_2

Our valuation came back at the right price today so should have an offer next week according to our broker

Jadelina

seabass90 wrote: »

Had my mortgage appt today with Halifax. Took about an hour and 15 mins? Halifax's rates went up on Monday so unfortunately I will be paying £15 more than expected each month! They do however have a 1% cash back offer on, so will get a cheque after completion for 1% of the amount I'm borrowing.

I was surprised by how little information was needed - I was asked for one payslip and nothing else! Not even bank statements? Survey is being carried out by end of next week hopefully, and MA said mortgage offer should come in a few days later. Almost sounds too good to be true...

Looks like we're Halifax mortgage buddies!

I too was surprised at how little they asked for from us, ID, payslips and proof of deposit funds.

My timeline....

20/04 viewed house
21/04 saw MA and got DIP from Halifax
21/04 put in offer
22/04 offer accepted! Vendor still needs to find
25/04 full mortgage application made
25/04 hard credit searches appear on experian credit report from Halifax
29/04 valuation report done, comes back asking for a damp/timber survey to be carried out and there are concerns regarding potential single skin construction to the rear
29/04 vendor agrees to pay for this survey

Anyone had this happen to them from Halifax or otherwise? Property was bought in bit of a state last June for £94,000. Has been done up to a brilliant standard and has been extended. Full asking price offer accepted by vendor at £150,000.

My question - surely the vendor would have had a survey when he bought the property last June especially considering its state at the time! Also is it likely he'd have extended the kitchen with single skin knowing he was intending on selling it when complete?

I'm worried now! First time buyer and we've fallen in love with the house even though we weren't intending on buying until next year! Gutted that it's bank holiday weekend which means more waiting and hoping the vendors readiness to pay for the survey is a positive thing!

Good luck to buyers and sellers alike! Will update when I know more

scp941

BusyBargainz wrote: »

Text from Nationwide today saying they have issued a mortgage offer! No idea what this means or if its formal or what?! Hoping something comes through the post soon !

It is the formal offer.

I received the same text from Nationwide last Friday. I'm still waiting for postie to deliver it although my broker emailed me a copy of it that he had received. Now I just have to pay off two credit cards before completion which is the "special condition" attached to the offer.

Katiekate198

Hi :-) really new to this but thought I'd join in because I'm driving myself crazy! Applied for a mortgage with Natwest through a broker on Tuesday - they submitted my bank statement and payslip weds and the valuation was booked yesterday with the EA - the money was taken from my account weds. DIP agreed on Tuesday and full application went in Tuesday also. No adverse credit and sole applicant but deposit is coming from sale of existing house (joint ownership) and I have a loan and a credit card (cc used for loads of things to get house ready for sale and will be cleared when sale completes at end of June, but loan will only be part settled) my broker put through the full loan value as outstanding and the affordability DIP was for £121,000.00 but mortgage needed only £113650) at 10% deposit. So it looks ok on paper but I'm really nervous - I wasn't planning on buying so quickly but I really liked the flat - Should I assume the underwriters are done if the valuation is booked for next Thursday or will the two things happen at the same time? And does the underwriter often come back saying the DIP amount is too high and drop the affordability? I'm worried they will look at my bank statements and decide I waste too much money n frivolous things like going out etc - and I used a couple of hundred pounds on my overdraft (well within limits) a few times - so I'm concerned they'll think I'm reckless and can't budget! Also I'm a bit of stress head doing it all alone so hoping others have stories to share that I can use as reassurance lol

deegsy

ksjohnson wrote: »

03/10 - view house, love it. Decide to act quickly and put offer in but by that time Estate Agents had closed.
05/10 - Monday morning, call and in the 2 hours between seeing the house and the estate agents closing, an offer had been put in and accepted! Bear in mind the property had been on the market for months. We put in an offer anyway and in the end the seller accepts ours!
19/10 - Mortgage offer approved via L&C with NatWest. The our MA is off sick for nearly 2 weeks which we didn't realise, stalling everything.
03/11 - Major stumbling block - my wife owns a flat with her sister which was rented but not on a buy-to-let mortgage. Her sister was in the process of buying her out, so MA spoke to NatWest initially and decided not to include it in affordability. However it seems we now need to provide confirmation that my wife's name is no longer on that mortgage before we can proceed. Goalposts officially moved. Cut to.....
16/02 - Finally my sister-in-law completes on the flat and my wife no longer owns it.
25/02 - We finally get the letter to L&C / Natwest confirming her name is not on the mortgage. Mortgage approved subject to valuation (however we thought we were at this stage last time)

30/03 - after a lot of faffing around and submitting new statements, mortgage offer rejected. Appealed, then after many more days, confirmed as rejected. L&C put in complaint blah blah blah.
31/03 - tell estate agent it's all fell apart- they recommend their in-house mortgage broker.
01/04 - see broker. Offer agreed online that day. Paid him £300.
02/04 - broker advises valuation instructed (bearing in mind it is a Saturday)
12/04 - valuation done, all OK
22/04 - complete, exchange and we have our new house!
MORAL OF THE STORY, USE A SMALLER BROKER WHO ACTUALLY CHASES THINGS THROUGH. LONDON & COUNTRY DROVE US MAD!!

I am surprised your vendor didn't pull the plug on you as it went on that long.

Bippityboppity

Katiekate198

Natwest took our valuation money and instructed valuation 2 weeks before underwriters made their decision to offer us our mortgage. I really got my hopes up knowing the valuation was happening thinking we were close to an offer but it was 2 very long weeks waiting! Just keep getting your broker to chase progress.

Good luck

Strum88

Strum88 wrote: »

Hi everyone,

Thought i would join in the thread My wife and I are buying our first house as a couple.

We have applied directly with First Direct, and heres our timeline so far:

Timeline:

4th April: Offer Accepted
4th April: Online Mortgage Application submitted
6th April: DIP
13th April: Moved to underwriters
18th April: Mortgage Approved (subject to Valuation) via text

We are still waiting on the paperwork to be sent and the valuation team to ring to take payment and book. The text stated 7 working days so hoping ot hear today or tomorrow otherwise ill be on the phone chasing up.

Fingers crossed

After chasing First Direct last week, it turns out they still have not checked my wifes ID docs which were delivered over 3 weeks ago, even though our application has gone to underwriters and been accepted!

We did however have the id returned on saturday, so i am presuming they have now been checked, and we are hopefully getting a call from the valuation team this week

Zeebs90

Hopefully will get our reissued mortgage offer today with the correct spelling - can't wait until the day I don't have to check my personal email at work every 10 minutes!

Jamesjames

Jamesjames wrote: »

Virgin Money as lenders.

Timeline:

13/4/16 : Offer accepted
14/4/16 : DIP submitted
16/4/16: Full application made
20-25/04/16: More documents requested overtime.
26/4/16: Valuation requested and letter received from Connells [valuers] to say they have arranged valuation for 04/05/16.

Update:
29/04/2116: Telephone call from broker to say mortgage has been approved subject to valuation [which takes place tomorrow].