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

Newbiebuyer2016

Newbiebuyer2016 wrote: »

UPDATE

29/4 MB emailed to say 'we should have an outcome by 9th May' (from recent emails I don't think that means offer?? Anyone else had this?)
30/4 Valuation booked for 5/5
2/ 4 Ask MB would we get asked for more documents now? I don't understand if we are due an outcome by Monday how will they ask for more documents in 2 working days?
5/5 MB said documents may be asked for after first assessment, then moved to underwriter for final offer check which takes 3 working days. Valuation is today too.

I'm still lost on what outcome will crop up on Monday - I was assuming a yes or no but it doesn't seem that way?

UPDATE 2!

6/5 Valuation came back fine. Leeds requested more documents. Proof of address for both me and partner for 2016. An accountants letter explaining a dip in profits and projected 2016 earnings and an employers ref. All sent back within 24 hours. Leeds said they will come back to us on 13th May ( yes Leeds seem to be painfully slow)

13/5 2pm rung MB as couldn't bear it any longer, MB said close of business 5pm receive email to say application has been moved to final offer check so will have an outcome by next Wed.

Newbiebuyer2016

Anzhelka wrote: »

Unfortunately the waiting game is the worst....we are waiting now 2 month to get an offer....

Your other thread says your mortgage application was submitted around the 21sr April? So that's knowhere near 2 months Your on nearly exactly the same time scale as us. Fingers crossed for us both as we seem to be in final offer checks. Did you submit your marriage certificate today?

mildredalien

Argh we are still waiting for a mortgage decision from HSBC after 6 weeks! Apparently their underwriters are very busy so we are in some queue to get looked at. Unfortunately every time they ask for more documentation we seem to go to the back of the queue even though we have been told they have looked at most of our case, they only needed to check some paperwork about an old/paid debt. We sent the paperwork last Thursday but they won't look at it until early next week! They haven't even booked the valuation yet

Luckily for us our sellers are in no rush and have been slow off the mark. We only received the draft contracts yesterday and have some issues that need resolving with the seller.

nicole19922

Received the paperwork from Natwest in the post yesterday, confirming our mortgage offer

Instructed solicitors, bow for the waiting game to exchange...

Anzhelka

Newbiebuyer2016,
Yes, on 21st of April....i just rounded, as it will be 2 months soon. We have posted marriage certificate and hopefully they won't ask for anything else. I guess it's because proof of my previous address is on my old name.

Anzhelka

We have submitted DIP in the end of March though....

seabass90

seabass90 wrote: »

Here is my updated timeline:

20/4 - First (and only!) viewing
22/4 - Offer accepted
28/4 - Mortgage appt with Halifax. Paid for valuation fee and mortgage fees
29/4 - Instructed solicitor. Gave paperwork into them and paid £200 for them to start searches
4/5 - Solicitors inform me that have requested seller's solicitor's contract

10/5 - Valuation carried out on property
11/5 - Valuation report received - chaos ensues as the report alludes to possible knotweed at rear of property
12/5 - Confirmed with specialist that knotweed is not present at rear of property. Spoke to MA who said my mortgage offer should be released today.
12/5 - Received letter from solicitor containing contracts, information about the land, and copies of paperwork the vendor signed when she originally bought the house.

.. No mortgage offer received as of yet. I was expecting it to be waiting for me in the post on Saturday. My mortgage advisor is now on annual leave and is not back until Monday 23rd May

Newbiebuyer2016

Anzhelka wrote: »

Newbiebuyer2016,
Yes, on 21st of April....i just rounded, as it will be 2 months soon. We have posted marriage certificate and hopefully they won't ask for anything else. I guess it's because proof of my previous address is on my old name.

No not really 2 months is 21st June. Leeds, as you know, is notoriously slow so you getting all anxious over an application which was submitted around 14 working days ago. I was warned they will come back and ask for documents in most cases.

Unfortunately for you, you have ended your tenancy, when really that should be when you exchange contracts. That might be why you are feeling super stressed out.

Im sure now your marriage certificate is sent then things should get moving. Is your solicitor instructed and ready to go?

We are due to exchange Wednesday however Leeds has delayed this and we are in final offer checks now. We have to exchange within 7 days of mortgage offer, our solicitor is ready to go, searches done etc.

Anzhelka

So how long has it been since the beginning? We've got our DIP in the end of March, that's why it will be 2 month in the end of May. 21st of April is the full mortgage application.
We haven't ended our tenancy, we have got notice from our landlord, that he is selling our rented house and after received notice we started purchase process straight away. As this is new build our seller promised completion within 8-9 weeks, so it was quite acceptable for us (we don't have any previous experience with mortgage before).
solicitors haven't been instructed yet, as our mortgage advisor said that nobody instructs before gets an offer, as we can loose £200 of fees...
I have written today a letter to our landlord, asking to extend tenancy for 1 month, hope he will be ok with that. as he hasn't arranged any viewings yet.

Bippityboppity

Anzhelka I think most people only really count down the waiting from when they submit the actual mortgage application as DIPS don't really mean much on their own and there can be weeks between Dip offered and actual mortgage application submitted. Your only almost a month in process for your mortgage application, I'd say that's pretty normal. Don't sweat it, sure your broker has it all in hand, it'll get there
I think the general advice is not to hand in your notice of tenancy till you exchange as so much can happen in between. We were 8 weeks from application to exchange of contracts and we physically couldn't have moved any quicker, and we ran mortgage application and solicitors concurrently to try and speed up process (vendors wanted 4 week offer to completion!). We complete tomorrow, 9 weeks to the day since mortgage application (Natwest).