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

Newbie78

We have been advised our offer has been issued


I NEVER ever want to go through this again, sorry if I sound overdramatic but each day wseemed like a lifetime.
Just over 5 weeks and I feel like I have my life back :)

PMurphy

Slight development my end. My wife has always worked from home, and as such has a working from home allowance on top of her salary to the value of about £600 per year.

Had a message from the adviser late Friday saying "Slight issue as NW will not consider this allowance as salary, so they are lowering the amount they will lend you"

My reply was "Does this mean the amount we want is reduced? The total amount we could be offered has been reduced, as we set our own limit regardless of what we could lend? Or the amount we require to purchase the house (which is £17k less than we asked for with the DIP)?"

Seems mad that they accept overtime or bonuses which can be taken away, but this is guaranteed and wont take it.

The answer I got was "They will let us know more next week".

That is about as helpful as a poke in the eye. Still waiting.... Getting greyer.

downhillfast

FTB
Having worked out that if the current upward trend of prices continues in our area our saving rate wouldn't outweigh the increase in property value; we've bitten the bullet and had an offer accepted on a property at the very top of our budget. At the current rate of price increases we wouldn't be able to afford this property next year! Having to go for a 95% mortgage right at the top of the lender's £350k max for this product. All being done via broker. Had DIP yesterday evening and full application should be going in imminently. Keeping everything crossed as the chain we have completed want to complete be the end of Jan... which I can't see happening to be honest but you never know!

LauraB89

Not much development here - spoke to the broker today, he needed the gift letter from my parents (we haven't had the funds yet from them, but wont need it for a little while I don't think).

I asked how it was all going and he said it was all fine and not to worry!

Good news - the estate agent told us that the previous buyer (that pulled out at the last minute and helped us to get the house for a great price) had the solicitors searches done, which will save us ££ and time

I checked on Santander's website and the processing time is just under 10 days and we put our application in on the 9th.. so we are halfway there to getting it approved!!!

So much to do, once the mortgage in confirmed I really want to get a survey done on the house.

Hope everything is going well for everyone xxxx

PMurphy

We've had further back and forth with Nationwide in the last 48 hours.

As a result we've scrabbled around at got the 10% deposit, which lowers our monthly repayments and the risk (apparently).

Home Buyers has been done, just waiting now though. Wondering if the change in deposit means a new application, or if Nationwide can just alter the number during the process and get new figures. Either way, it'll be another long wait. Although according to the guidelines it should all be done and dusted by now...

SophieMarie1

That's great news Newbie78! Congratulations.

We've also had more hold ups with Nationwide asking for more documents twice and then waiting for them to review. It's all in relation to my employment (and the temp contract issue no doubt!)

We were delayed putting our application in due to our H2B form being sent back to the developer twice (due to them putting the address wrong, both times!) so really anxious to get an answer now!

Hope others get some news before the weekend!

LauraB89

Just spoke to the broker- he said everything has been agreed and we are just waiting for the paperwork!!!!!

Linds88

We are FTBs on the Help To Buy Equity Loan scheme - just had our mortgage offer through Santander We used a broker.

20th November - plot put on hold with the developer
24th November - AIP issued
27th November - full reservation with developer
30th November - full mortgage application and HTB application in
6th December - HTB Authority to Proceed issued & passed to Santander
7th December - Santander accepted Authority to Proceed and passed to underwriting queue
9th December - underwriters agreed mortgage
16th December - valuation
19th December - mortgage offer!

Now just waiting for the paperwork. We were delayed by HTB as our application just sat doing nothing whilst we waited for their agreement, if we take out that delay we waited 9 working days from application to offer, including 5 days waiting for the valuation to happen which isn't too bad!

schmutz

Hi everyone. I'm a first time buyer and have had an offer accepted on a lovely little studio flat. I went to see the broker the estate agent recommended on Monday and she has started the application for me with Nationwide. I was surprised to be offered a lot more than she had initially thought, however I am massively relieved as it will now leave me with a bit of money to do some work on the flat as well as have a mini emergency pot. The initial part has been approved so now just have the stressful wait for them to do the valuation and home buyers report. I'm rather excited to get Christmas/New Years over with to hopefully speed everything up!
Good luck to everyone awaiting approval

flowers1990

Hi all I am new can anyone help me we are going with Halifax when they book in a survey dose this mean u have the mortgage subject to survey we are just waiting on them to get back to us I really hope they can get it booked it now for after Xmas thank you x