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

Anzhelka

I can see that many people are doing searches and etc. even if they haven't got an offer yet. We have to exchange 4 weeks after instructing solicitors...does it mean after we start searches or after we have appointed our solicitors?probably we need to start our legal work as well.....as we have now second viewing of the house and fitting carpets and etc. so probably our seller is planning us to move in at the nearest time. offer still not appeared and no news so far...

irdan87

I wouldn't be getting new carpets in a random house without a mortgage offer LOL

Anzhelka

What do you mean by "random"? We are not fitting them yet, we just have a designer visit planned next week, who will then plan, when to fit them.

Minkybob

Minkybob wrote: »

Hi All

Long time lurker first time poster, and would like to join the anxious club!

Anxious doesn't quite cover it, does it? Well here's my timeline so far;

24/03 - Offer accepted by vendor
29/03 - Instructed Solicitor and applied over the phone to First Direct, was given an appointment (2 weeks later!!!)

12/04 - FD appointment AIP given
16/04 - Received FD info pack
18/04 - Submitted further information (verified ID, more bank statements etc.)
19/04 - Called up to accept AIP rate and pay fees
21/04 - Received text to say info received and underwriters decision would be forthcoming within 7 working days.

03/05 - 7th working day comes and goes.
04/05 - Call FD to be told they didn't in fact receive all the documents submitted, it would need to be uploaded again, told we would hear back within 24 hours after resubmitting.
05/05 - Call to check it's all been recieved and told it has and we have a slot with the underwriter on 7th May (48 hours away not 24 as previously been told).
08/05 - Call up FD again today to see what happened to be told we were miss informed before and we didn't have a slot, it will be 11th or 12th May.

May well call again today to make sure we do have a slot rather than find out later our casework has fallen behind the office fridge. Funnily enough this is not what is stressing me out, it's the EA calling up every 5 minutes telling us to hurry up or they're pulling out!

Phew! Feels good to get it off my chest though, thanks!

Update!

So further to the above we were informed by the underwriting team that we should have posted in our verified IDs. We did ask about that specifically and was not told we had to do so and uploading was fine.

The underwriter acknowledged there was no indication on the system we had been told and lodged a complaint on our behalf. Cue a frantic race to catch the last post for guaranteed delivery and the document was delivered by Friday (13th!).
The underwriter called later in the day to say he had signed us off (no text though?) which was the first bit of good news for ages!

Unfortunately that feeling was short lived, despite us calling to request the survey (and told the surveyor will be in touch with the EA to make an appointment), the EA demands to see proof of payment (he doesn't trust us one iota) they haven't contacted us for payment yet. The EA really is making things so difficult.

The final hiccup was yesterday (16th May) FD say they need to speak to our ID verifiers, possibly due to the company address not being on the paper header but in the body of the document, but really that sounds too silly to believe.

All in all if I could go back and start again I would have applied online and sent more documents than had been requested.

As for the EA, I don't know what to do, it's bordering on harassment now, he's calling my partner every day(!) demanding things that are either none of his business or in unreasonable time frames.

nojcarter

Been reading for a few days so thought I'd post my progress

Was living in a property I was renting from a friend then he decided very suddenly to sell the house so as I liked the house panic ensued as I attempted to buy it. Agreed a price with my friend.

28th April - Discussed options with MA
29th April - AIP with Principality
29th April - Friend almost loses house he is buying to a cash buyer, so a family member offers him cash that day for his house to give him funds to counter the offer. So I lose the house

9th May - View house a friend of a friend is selling, love it!
10th May - Make offer, 2nd viewing, in person agree a price
16th May - Full Mortgage application submitted, solicitor appointed

Vendor informs me the valuer has arranged to go to the house Thursday (19th)

Couple of questions for you knowledgeable folk

Does a valuer being sent mean I have passed the required credit checks? also have anyone dealt with the Principality recently and know how long they usually take to go through the process.

Anzhelka

Valuation doesn't mean you have passed all credit checks, some lenders do valuation prior any checks (like our do).

nojcarter

Thanks Anzhelka, thought that was the case. Seemed awfully quick!

Strum88

Minkybob wrote: »

Update!

So further to the above we were informed by the underwriting team that we should have posted in our verified IDs. We did ask about that specifically and was not told we had to do so and uploading was fine.

The underwriter acknowledged there was no indication on the system we had been told and lodged a complaint on our behalf. Cue a frantic race to catch the last post for guaranteed delivery and the document was delivered by Friday (13th!).
The underwriter called later in the day to say he had signed us off (no text though?) which was the first bit of good news for ages!

Unfortunately that feeling was short lived, despite us calling to request the survey (and told the surveyor will be in touch with the EA to make an appointment), the EA demands to see proof of payment (he doesn't trust us one iota) they haven't contacted us for payment yet. The EA really is making things so difficult.

The final hiccup was yesterday (16th May) FD say they need to speak to our ID verifiers, possibly due to the company address not being on the paper header but in the body of the document, but really that sounds too silly to believe.

All in all if I could go back and start again I would have applied online and sent more documents than had been requested.

As for the EA, I don't know what to do, it's bordering on harassment now, he's calling my partner every day(!) demanding things that are either none of his business or in unreasonable time frames.

Sounds a bit more similar to our experience with FD, not being told certain things and having to chase up a lot. We are awaiting the valuers to ring, which we were told would be today by either Countrywide or Shepherds....expecting a phone call from EA soon regarding our seller getting ansty again but may pre-emp it with a quick call to say it will be booked and paid for imminently! hopefully

NeverAgain2

NeverAgain2 wrote: »

FTB here and I'm trying to fumble my way through this process. They really should teach it in schools. Thank gawd for our mortgage adviser! Mortgage application is in and the valuation/Home-buyer survey is TODAY... Friday the 13th. Eeek!

The house is in probate and the family are happy to move quickly so it's just a waiting game now

Our broker sent us a very cheery email today - mortgage offer issued! We haven't had the home buyers report or valuation info back but I assume it's OK of the offer wouldn't have been issued...?

Everything is moving so fast - how exciting!

Babooshka123

Hi all,

Really hoping for some advice to help simmer down my nerves on my pending mortgage offer decision. Brief background:

Submitted an offer for a house at 140k - offer was accepted and I appointed a whole of market broker through a family friend to help me as a FTB. The reason I did this is because I wasn't sure about the high street lenders due to a default of £1400 in 2011 due to unemployment. I have now settled this default the week prior to applying for mortgage. My broker suggested Accord as they have a more favourable approach to those with adverse history, with the hope being that by the time 2 years has gone by my default would have disappeared off my report altogether. Anyway, long story short, Accord referred my AIP and then accepted it 2 hours later (borrowing 125k 90%LTV). The next day I did a full application with my broker and submitted all information required. 3 days later they issued a survey which is due to take place this week.

According to the Accord lending criteria, they do allow defaults, I've been told by my broker that considering mine is 5 years old, I shouldn't have an issue as they are more interested in those issued more recently. SInce 2011 I've had no issue obtaining credit and have no other defaults, CCJs, late payments etc. I am racked with nerves and I desperately want to move into this house and really feel apprehensive that although I meet the criteria, they'll reject me. Does a certain amount of underwriting take place during a referred AIP or before a valuation?

Thanks guys