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

mildredalien

dgtazzman wrote: »

Took a week after valuation was carried out for me to receive my formal offer from HSBC, that included a bank holiday Monday.

Maybe I got lucky with 2,5 weeks from start till finish, though I kept it in my own management and I did keep poking for updates every few days, which did mostly seem to have effect.

I.e. called them a week after valuation to ask if they had received it. Was told they had, but it had not been signed off on. An hour after my call, somebody signed off on it, so keep the pressure on ^^

Thanks, I suppose it could have taken about 2-3 weeks if there hadn't been an unfortunate error on my husbands credit file (that only showed up after we applied for the mortgage argh!) So we had to provide a bunch of extra documentation to prove that the credit file was wrong and that delayed matters.

I'm not sure when the valuation has been scheduled for but we are chasing up almost every day (albeit through the broker). Often when we chase the broker and they tell us they are getting in touch with HSBC that day, we hear back very quickly so we'll carry on chasing!

tw76237

Contributing my experience to this thread,
My wife and I reserved a new build shared ownership flat. We applied for a mortgage with Leeds building society using a local broker(only option available as we could only stretch to 15% deposit for the share we wanted). To sum up the process was burecratic, horrible and slow. We thought we were going to be refused for not being able to prove address through the exact means that they wanted, but thankfully our broker was amazing and fought our corner to make them see sense. Time lines were as follows:
9th April- meeting with broker to arrange application
11 April- application submitted
12th April – gifted deposit form requested and submitted same day
14th April – Leeds ask for a sales memorandum which they already had but ok whatever sent it again.
20th April- valuation carried out (letter arrived afew days later saying all ok)
27th April – Leeds ask for bank statements for my wife going back to the start of 2014 as proof of address (not I repeat not for income/expenditure)
3rd may- Statement arrived from the bank, sent to leeds and apparently accepted.
11th may- statements rejected, they wanted 3 monthly periodic (enter rage mode)
13th may – broker escalates to regional businesss manager how silly the situation is and is able to move the application from underwriting to offer department.
16th may- proof of address problem comes up again, heated discussions between broker and Leeds
17th may- application accepted (told over the phone)
19th may – mortgage offer received in the post.

5 and abit weeks for the whole thing, now just hoping everything goes smooth with the solicitors

Camshaft_SG1

New build flat for completion in summer 2016. Applied through a broker.
No issues with requests for extra documentation or the valuation

9 May - Application submitted via broker
10 May - Valuation booked in for 19 May, subsequently changed to 14 May
14 May - Valuation completed
17 May - Results from underwriter / offer issued valid until 9 November
19/20 May - Received offer in post

Overall a very good experience, and happy I've got a mortgage offer at last! :beer:

Poolie

Timeline for our recent mortgage application:

12/4 - Property viewed - initial response given to EA
13/4 - Formal offer put in with EA
15/4 - Offer accepted
25/4 - DIP generated as issue with Skipton via Broker
28//4 - Application submitted
29/4 - Survey instructed
4/5 - Survey conducted
10/5 - Report back to Skipton
11/5 - Case underwritten but audit trail paperwork required.
18/5 - All paperwork has been provided and confirmed.
23/5 - Mortgage offered

Awaiting paperwork in the post and copy of the survey report.
We are looking at exchanging and completing on the same date in late July.

Anzhelka

Poolie wrote: »

We are looking at exchanging and completing on the same date in late July.

Can I just ask, why you are completing so late? is the completion date your choice?

Poolie

Anzhelka wrote: »

Can I just ask, why you are completing so late? is the completion date your choice?

We are completing so late due to the seller only having just giving the 2 months notice to her tenants and therefore we cannot exchange and complete till we have vacant possession confirmed.

Anzhelka

Oh Ok I see....

Strum88

TrickyTree83 wrote: »

Have to say that our experience of FD was very different. But then I work from home and I was chasing them constantly as the developer we were buying the new build from was chasing me for updates. In doing so when I was told the 7-10 day wait or similar, I would be calling them every 1-2 days for an update regardless. My advice would be to not wait for the 7th or 10th day to roll around and wonder what has happened, why they've not been in touch. Get on the front foot with them and it appears you get the answers you need eventually and as long as you're pro-active about sorting your side and continually manage FD's admin and customer service teams you will get there.

Can definitely recommend chasing them up as much as possible really. Weve had to do it several times ot get things moving including yesterday.

Were told the mortgage/legal pack would be sent last week and delivered Friday/Saturday, still wasnt here yesterday so rang to question them. They said they needed to check our application for something so it was delayed but the docs were sent yesterday. We should receive today or tomorrow. Not holding my breath but if not here tomorrow we'll be calling again.

On the plus side the valuation/survey was completed yesterday, just waiting to hear back if its ok which weve been told will be friday.

richdeniro

I have just had my application submitted to HSBC through L&C. I was just wondering how people knew the dates for everything?

I have the online tracking thing on L&C's website but it just says 'Your application is being processed'.

mildredalien

richdeniro wrote: »

I have just had my application submitted to HSBC through L&C. I was just wondering how people knew the dates for everything?

I have the online tracking thing on L&C's website but it just says 'Your application is being processed'.

Yes that's pretty much all we had too I'm not sure it's ever updated. My timeline is retrospective e.g. through keeping track of communications with L&C/HSBC.

Fingers crossed you have better luck than we have so far getting things moving!