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

JoeT88

I think it must just depend on how busy they are.

Its funny how nobody on the thread has the same experience even with the same lenders, or same type of credit etc. makes life a little more stressful as we all just cling to the hope e are progressing haha!!

we submitted full app through broker Monday, spoke to the builder who said they have booked valuation for monday but still not heard anything directly from Natwest.

Who knows eh??:rotfl:

all the best

[Deleted User]

Who knows indeed!

Hope it all goes smoothly for you :j

Harryp_24

Timeline.
1/11/2016 - DIP from nationwide
25/1/2017 - Offer accepted on house
26/1/2017 - Solicitor Instructed
31/1/2017 - Another DIP accepted as old one would run out before Mortgage App
2/2/2017 - Mortgage App Completed
2/2/2017 - Survey Fees taken from account


Wait. (god i hope this works out)

streetlovin

Hi all,

I finally get to join this thread! Not sure if it is a good thing considering how everyone in this thread is constantly stressed out!

Ok, so I got an sales memorandum on shared ownership property. Submitted application with Leeds throught broker. Below is the timeline:

25/01/2017 - viewed property
26/01/2017 - offer letter issued from HA, contacted broker and get affordability tested, solicitor instructed
27/01/2017 - received a quote and decided to go through with a full application with Leeds, on the same day full application submited.
30/01/2017 - received email from Leeds saying the AIP has been accepeted and assessed by DIP team.
01/02/2017 - required documents submitted to Leeds
02/02/2017 - Received a letter from Surveyer i chose to go with Homebuyer valuation so both valuation and survey are done together) but just to say they have been instructed to value the property but there is no date on there to suggest when this will take place..
03/01/2017 - received sales memorandum from HA

Not sure what to make of this, I have been told before that if a valuation is taking place then it is good news...my broker said they already did credit report assessment when i submitted full application on Friday 27th and didnt ask for anything else. I am hoping to hear from them next week at some point but so far they have not asked for any other documents.

Anyone has experience with Leeds? If a valuation is taking place is it kind of good news?

Also, the quote that you received from illustration...can the final result come back even better? Eg. if the illustration suggests you get interest rate 2 year fixed at 2.5% can it come back even lower after assessing all your income/outgoings?


Thanks

Harryp_24

streetlovin wrote: »

Hi all,

I finally get to join this thread! Not sure if it is a good thing considering how everyone in this thread is constantly stressed out!

Ok, so I got an sales memorandum on shared ownership property. Submitted application with Leeds throught broker. Below is the timeline:

25/01/2017 - viewed property
26/01/2017 - offer letter issued from HA, contacted broker and get affordability tested, solicitor instructed
27/01/2017 - received a quote and decided to go through with a full application with Leeds, on the same day full application submited.
30/01/2017 - received email from Leeds saying the AIP has been accepeted and assessed by DIP team.
01/02/2017 - required documents submitted to Leeds
02/02/2017 - Received a letter from Surveyer i chose to go with Homebuyer valuation so both valuation and survey are done together) but just to say they have been instructed to value the property but there is no date on there to suggest when this will take place..
03/01/2017 - received sales memorandum from HA

Not sure what to make of this, I have been told before that if a valuation is taking place then it is good news...my broker said they already did credit report assessment when i submitted full application on Friday 27th and didnt ask for anything else. I am hoping to hear from them next week at some point but so far they have not asked for any other documents.

Anyone has experience with Leeds? If a valuation is taking place is it kind of good news?

Also, the quote that you received from illustration...can the final result come back even better? Eg. if the illustration suggests you get interest rate 2 year fixed at 2.5% can it come back even lower after assessing all your income/outgoings?


Thanks

If you paid for the valuation, no, it doesn't mean anything.

streetlovin

Thanks Harry. I rang Leeds today and the valuation/survey has been booked for 8th. They said it takes 2 days to assess the valuation then 3 more days to process to offer... Ugh! It is so nerve-wrecking! Cheked Equifax and they checked my credit report on 27th Jan and they no longer need anything else from me. I think my HA list the purchase price lower than the market value too so if it all goes well the valuation should come back higher than purchase price...hopefully Leeds thinks this is a good thing and give me the money!

Harryp_24

streetlovin wrote: »

Thanks Harry. I rang Leeds today and the valuation/survey has been booked for 8th. They said it takes 2 days to assess the valuation then 3 more days to process to offer... Ugh! It is so nerve-wrecking! Cheked Equifax and they checked my credit report on 27th Jan and they no longer need anything else from me. I think my HA list the purchase price lower than the market value too so if it all goes well the valuation should come back higher than purchase price...hopefully Leeds thinks this is a good thing and give me the money!

Yeah, im in the same boat. Days off being non stop on the phone sorting htings out choosing solicitors surveyors ect making appointments then bam. Nothing but wait for weeks. lol

JoeT88

24th jan- AIP through broker
30th-Full App
30th- Valuation fees taken
survey booked for Monday 6th
1st Feb- email from broker to say underwriting all done and approved subject to survey
4th feb- cal from house builder to say surveyer had been 2 days early
today and this week is just a wait..................

seems to be coming along ok I hope

[Deleted User]

Congrats Joe!! Fingers crossed for you! We have had some issues with my other half having an old bank account registered at his old parents address so we are having to deal with that before they will go any further!

But we have everything signed now and sent off so hopefully we should start the usual process soon!

JoeT88

ahh that should be fine Nellie no doubt, they have to dot the I's and cross the T's, so i would not worry

its the wait that kills us all haha!!!

However up until now they have been pretty quick and look like they have for you too!

hope all is well