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

wjr4

OohSoHolly wrote: »

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...

Yayyyyy congrats!! Quick note - their fixed rates have dropped slightly so check if you are able to switch before completion (if you want!). It might only save £20-30 a month but works out a lot over the longer term! Re the survey: I would definitely ask for the report!

dgtazzman

@Cardinal - my HSBC application in May went straight to the underwriters for initial processing. Only took 2 days or so and at that point the online tracking showed that the mortgage was already approved (this is the 'decision obtained' you are seeing as explained to me when I took my paperwork into a local branch) pending receipt of my paperwork and it corresponding to what I had filled in on the application (bank statements and payslips) and valuation. Valuation was instructed a few hours later.

Once the valuation was received and processed, the underwriters called me with a few small questions about my paperwork and an hour later they issued the offer. Whole process took under 2 weeks, over a bank holiday weekend.

I wouldn't worry about it.

P.S. it seemed to help to call their call center when I felt things weren't moving. I did it twice, and both times my application suddenly got updated soon after.

Proof of deposit would normally be one for your solicitor to deal with, or maybe your statements say enough for them.

cazzyd

OohSoHolly wrote: »

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...

That's fabulous news...definitely ask for the survey report.

So...Nationwide have come back today and requested a full structural survey...so I'm guessing the same...that it was just a valuation and not a survey...the previous offer didn't stipulate we had to have this, and the mortgage broker said they haven't given a reason why...and Nationwide haven't given us an offer yet so I'm guessing they won't until we have this.

If it wasn't for the orginal set of circumstances...which could have been avoided...none of this would be happening, and now we are looking at having to shell out another £700.00 for this survey to be done. Mortgage broker currently trying to get to the bottom of it...but can't find out for another three days...

Why is nothing ever straight forward...we deserve this...we've waited patiently for 19 months:mad::mad::mad::mad::mad::mad::mad::mad:

fxyzfxyz

Hello everyone!

We're FTB buying a shared ownership property - looking to borrow 84k on a 35k joint salary, 90% LTV. Affordability is good, got a DIP for 10k more than we needed and have been working with an excellent broker who is very confident things will go smoothly - but that doesn't stop me worrying half my hair off! We generally seem to be a straightforward case, no issues on either of our credit cards although my husband has little credit history (2yrs only) and we get paid through a mix of cash and bank tsfrs, which Halifax and our broker said may mean we need additional docs and employer refs to confirm our income. No chain involved and the vendor is looking for a very quick move, as are we!

Here is our timeline
19th July - Financial assessment and DIP through broker done. Requested additional documents that would take a few days to come in through the post (thanks to being paperless -_-). Appointed solicitor.
28th July- sent all paperwork to broker and solicitor
2nd aug - received and sent off memorandum of sale
9th august - mortgage application officially made (took time because broker was on leave)
12th august - the Halifax asked for July payslips and bank statements understandably because by now its mid august and we had given all documents in just prior to the end of July
16th aug - Halifax confirmed its received the new paperwork

Little things are really holding things up! Our broker said we should hear something from Halifax in 4 working days and should have a better idea of where things stand. He said he expected a valuation of the property to be instructed next week.

Will be biting my nails off and following the MSE forums obsessively till I hear back from them!

Thrugelmir

fxyzfxyz wrote: »

and we get paid through a mix of cash and bank tsfrs, which Halifax and our broker said may mean we need additional docs and employer refs to confirm our income.

Lenders have access to an income verification service through the HMRC if there is doubt.

steph2901

I got my mortgage rejected today because they won't take bank statements as confirmation of maintenance payments I've been receiving it for over 5 years! But don't have a court order or CSA agreement because we agreed it ourselves.

So I've exchanged on my house and going to rent until we sort this mortgage mess out.

Bonfire_Bride

steph2901 wrote: »

I got my mortgage rejected today because they won't take bank statements as confirmation of maintenance payments I've been receiving it for over 5 years! But don't have a court order or CSA agreement because we agreed it ourselves.

So I've exchanged on my house and going to rent until we sort this mortgage mess out.

That is really awful. Did you go straight to the lender or via a broker? Is there no way around this?

Cardinal-Red

dgtazzman wrote: »

@Cardinal - my HSBC application in May went straight to the underwriters for initial processing. Only took 2 days or so and at that point the online tracking showed that the mortgage was already approved (this is the 'decision obtained' you are seeing as explained to me when I took my paperwork into a local branch) pending receipt of my paperwork and it corresponding to what I had filled in on the application (bank statements and payslips) and valuation. Valuation was instructed a few hours later.

Once the valuation was received and processed, the underwriters called me with a few small questions about my paperwork and an hour later they issued the offer. Whole process took under 2 weeks, over a bank holiday weekend.

I wouldn't worry about it.

P.S. it seemed to help to call their call center when I felt things weren't moving. I did it twice, and both times my application suddenly got updated soon after.

Proof of deposit would normally be one for your solicitor to deal with, or maybe your statements say enough for them.

Hi thanks for this.

I got a call yesterday from the underwriters who said it had all been approved and now they would instruct the surveyors. Great news.

But on the website, the update yesterday now says "Manual referral" - which does not sound like approval.

Did yours say the same?

nataliekatemese123

Hi everyone,

Been reading this boards like a maniac the last few days, first post though.

Here's where I am. FTB, H2B, 265k house, 15k deposit:

11/08 - Got AIP for 270k property
12/08 - Made offer on dream house at 265k
13/08 - Offer accepted. Headed straight to bank (Nat West) to begin official application process. At this point they said we weren't eligible for H2B for some reason, and we'd need to speak to the advisor on Monday. PANIC.
16/08 - Spoke to advisor who explained the 95% LTV mortgages are very tight on credit checks, and something had flagged on ours. Got reports from Experian and Equifax and turns out two old settled and satisfied defaults (satisifed in 2013) are making my report look bad. Everything else seems fine. Partner is fine. Explained everything in length to advisor and he said that we should be fine and not to worry (we earn 66k+ combined) and to come to full application on Saturday (20/8).

Obviously now I'm MASSIVELY worrying. He seemed quite positive, but I can't stop thinking that these two old defaults are going to wreck my chances of getting our dream house

Nervous few days ahead.

dgtazzman

Nope, no manual referral in my case, but I think they have changed the status flags in their system recently. Mine was on 'offer accepted' for 3 months and a few weeks ago it changed to 'progressing offer', while nothing has happened. Solicitor won't be drawing funds for around another 10 days and the offer is still live, so I've put it down to them updating the tracking system software.