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

Scottycameron1

Hey all!

We have just put our full application in with NatWest (and have a private banking manager with us) applied for 75% LTV and have £82000 deposit passed the credit check at the end of the meeting but still not sure! Have 13 month old pay day loans all paid off and have some cash advances on credit card to pay for engagement ring so the misses wouldn't find out but balance on credit card is zero and have no outstanding debts at all My partners credit is perfect and has already have a NatWest mortgage.

Fingers crossed for me guys please.

chrislee2810

I have to say that a good mortgage broker is worth their weight in gold. Mine was absolutely brilliant. He put our minds at rest and made the whole process so simple.

mrwhizzard

chrislee2810 wrote: »

Update, I have just received my mortgage offer from aldermore, I am over the moon.

Must have been processing them in bulk, received mine from them yesterday also (have been a thread lurker till now), but can certainly understand your pain / joy

chrislee2810

I was extremely shocked at how quickly it happened. Our application went in last Monday, valuation booked for Tuesday just gone and the offer arrived on Thursday. Although I was stressed, the broker handled absolutely everything. We never thought this would happen and I am still in disbelief now.
We have a different kind of worry now, we have purchased a house that needs so much work, but it will be worthwhile when it is finished.

kingstreet

Scottycameron1 wrote: »

Have 13 month old pay day loans

If your credit file is clean the underwriter never sees your record, so the PDL activity is never revealed.

Scottycameron1

Thanks kingstreet.

What do you mean by clean? I have a good score and no defaults or CCJS!

Is that right in saying a underwriter doesn't go through your credit report I thought that's what there Job was?

copperjar

Received my mortgage offer from Nationwide today via text and email! Very pleased I have to say the process with Nationwide has been extremely smooth. Texts and updates regularly and can log on to your account to check process.

I notice after the survey today, they have said that rebuild costs are £190k. We are buying the house for £235k! The rebuild isn't a reflection of their valuation is it?!

Levs01

copperjar wrote: »

Received my mortgage offer from Nationwide today via text and email! Very pleased I have to say the process with Nationwide has been extremely smooth. Texts and updates regularly and can log on to your account to check process.

I notice after the survey today, they have said that rebuild costs are £190k. We are buying the house for £235k! The rebuild isn't a reflection of their valuation is it?!

I hope not cos I got the same rebuild cost for my pruchase and its £100k more than yours. Its what it would cost if the building was demolished and had to be rebuilt from scratch.

Congrats on the mortgage offer :beer:

copperjar

Levs01 wrote: »

I hope not cos I got the same rebuild cost for my pruchase and its £100k more than yours. Its what it would cost if the building was demolished and had to be rebuilt from scratch.

Congrats on the mortgage offer :beer:

Phew! My heart sank when I first read the rebuild cost - post on here, do some research and all is well!!

Thanks for the congratulations - all very real now and heading in the right direction!

Blakey0500

Quick question. If I went to apply for a mortgage, do they base what they will lend you on your last 3 months payslips or on your annual earnings? I'm currently maxing out my overtime at work which is why I'm curious.

Thanks