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

cazzyd

MrsMoodypants wrote: »

Hello :j

Completely stressed out ftb (Scotland)

After a mortgage in principle, Halifax decided to offer 20k less than we needed :eek:

We paid off our Barclays credit card in June and my husbands credit report is still showing the account active and not payed off. Barclays don't understand how its not been updated but are going to send out a letter to confirm its been paid and closed. Apparently should of been updated at the end of July. Halifax done their credit searches this week.

So I think this is what has spooked Halifax.

Absolutely gutted.

Mortgage advisor is now arranging things with Natwest. And I can now only assume if they actually accept us we now won't get as good a rate as Halifax were offering.

However we have just been gifted 5k. So can now add that to our deposit.

Hoping Natwest are as quick as Halifax with an answer. Hopefully a mortgage in principal either today or Tuesday. And maybe even a final offer by the end of next weeks.

Feel like I may have packed my house up for no reason :wall:

Oh dear..I'm guessing you have a house you want to move into..and want to make an offer on? I don't know much about Natwest...but usually once all your documents have been sent it wont be long...I'll keep everything crossed for you...I'm sorry Halifax weren't as helpful as you needed them to be. Good luck x

Cardinal-Red

Hi all,

Great thread!

Can I just check something for those with experience of HSBC in particular.

Is being referred to the underwriters a normal part of the process? I tried to google some facts about it and I saw some old posts (circa 2010) saying that this was an indication of an exception rather than the normal process. But when I spoke with HSBC in the early days of application, they talked about this as if it were normal.

Timeline is as follows:

AIP in Early August
Full application submitted on 3 August
"Decision obtained" on 4 August followed by paperwork requests
Paperwork uploaded on 9 August
Now showing as "under review" on the online portal

So for anybody who knows, what type of decision was obtained on 4 August? It seemed to follow full credit checks.

And how long does the underwriting review take?

We have so far not been asked for any proof of deposit either.

Thanks!

wjr4

cazzyd wrote: »

I know what you mean, we've already had searched done by the solicitor on account of the fact we've been through this process once before...I don't understand half of it....all I know is...once I sign the paperwork with the solicitor..I'll be the happiest I've ever been. I've thought about the personal journey I've been on for the last 19 months...it's been the worst time of my life...but I had to get through that to get to where we're going to be soon...and that's making me feel better.

It will all be worth it in the end!!!! I think you appreciate the house a lot more if it has been a stressful journey! Keep going

Ftba.d

Hi Everyone ,

Just joined ...

29/07- paid my reservation fee and sent off my htb application
03/08- htb application sent back due to errors with plot address and actual address. Resubmitted the same day
09/08- htb authority to proceed received
11/08- full mortgage application submitted to TSB
11/08- Valuation fee taken from my bank account
11/08- Credit expert email an alert to say Lloyds TSB have carried out credit checks .

Quick question , how did you know when the valuation had been booked ? After reading this forum, it seems that many of you tracked the application step by step which I think would ease the nerves attached to the whole process rather than not knowing at all what is going on in the background ?

wjr4

Ftba.d wrote: »

Hi Everyone ,

Just joined ...

29/07- paid my reservation fee and sent off my htb application
03/08- htb application sent back due to errors with plot address and actual address. Resubmitted the same day
09/08- htb authority to proceed received
11/08- full mortgage application submitted to TSB
11/08- Valuation fee taken from my bank account
11/08- Credit expert email an alert to say Lloyds TSB have carried out credit checks .

Quick question , how did you know when the valuation had been booked ? After reading this forum, it seems that many of you tracked the application step by step which I think would ease the nerves attached to the whole process rather than not knowing at all what is going on in the background ?

Hello!

With nationwide you get texts to update you & say when things are booked - I think a lot of people have been going with nationwide recently!

Hope all goes well for you

CM1984

We have just been rejected by Aldermore. Fingers crossed Precise come through for us.

My credit file is atrocious but have worked hard to get things in order. Husbands score is perfect and don't want to let him down.

Does anyone know the likelihood of the application being accepted after we received a DIP?

Thank you

Jamie_Cortez

Not HSBC but it is normal with some banks, Natwest for example give you the green light in branch then it's gets forwarded to the underwriters who do a more in depth check on you etc etc and make sure the mortgage advisor hasn't missed something.

I can only assume that due to the economys uncertainty that they like to be more careful these days.

sparkly_momma

sparkly_momma wrote: »

Joining in!

FTB, £200k house with 10%deposit. We are buying off my parents and have been living in the home for the last 15mths so it will be a huge relief when it is actually ours!

22/7: approached L&C for initial quotes and advice

26/7: broker responds to say he is passing the case to a colleague as he hasn't the experience to deal with a case like ours, and we will struggle to get a mortgage with our income and because we had some minor bad credit that although had dropped off our credit file (over 6yrs old) was still going to appear to lenders. Cue tears and general desperation in our household!!

27/7: new L&C broker calls, hasn't a clue what the other guy was on about and said we were a textbook applicant. Affordability very comfortable, advised HSBC and nationwide were the best options.

28/7: decide to proceed with nationwide.
28/7: DIP received, monthly payments slightly higher than we want so ask for slightly longer term to decrease payment.

29/7: revised DIP received

At this point we decided to wait and see if the interest rates will change so delay application. We think over the weekend and calculate the difference in payments if nationwide did adjust their fixed rate to reflect a drop in the base rate and decide it's not worth worrying about £25 a month so instruct broker to proceed.

2/8: full application submitted
3/8: nationwide requests Proof of gifted deposit form
4/8: valuation booked for 10/8
5/8: solicitors instructed
10/8: valuation done,
10/8:nationwide have requested original documents to prove my husband's military pensions (they've only had copies so far). 2-3day wait for those to be processed once received so anticipating a delay now until next week
10/8: gifted deposit forms accepted

15/8: text from nationwide to say offer issued
15/8: 3hrs later full offer received from broker by email, offered full £180k as applied for.
:j:j:j:j:j

Ftba.d

sparkly_momma wrote: »

15/8: text from nationwide to say offer issued
15/8: 3hrs later full offer received from broker by email, offered full £180k as applied for.
:j:j:j:j:j

Great news! Congratulations !

OohSoHolly

Update:

So recieved mortgage offer from Nationwide last Thursday - Yey! Now just relying on the solicitors to complete their work. Had a couple of hiccups in lost paperwork and £300 payment for searches however all resolved!

I have a slight concern which I don't know if anyone can help us with, we didn't realise that Nationwide only completed a valuation not a survey so we now technically have no survey... However we are the 2nd buyers for this property as the original cash buyer pulled out (this was due to personal reasons). The sellers have been forthcoming in what was on the survey of the first buyer and informed us of some issued (albeit minor). Do you think it would be cheeky of me to ask for the survey report? They have offered to share this information already...