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

n90bar

Well after negotiating with our purchase since xmas! We've finally started moving forward. We're staying with Santander.

Timeline

9/02 AIP agreed
13/02 full application submitted
14/02 asked for bank statements
15/02 survey booked for 20/2

We're keeping everything crossed it all runs smoothly. Anybody used Santander recently that can share experiences?

Harryp_24

starshapedbrick wrote: »

Joining in on this one - we are on our second application to Nationwide (first cancelled after valuation led us to pull out of purchase) so here's where we are:

13/02 DIP requested and accepted
13/02 Full application completed and 1 month's payslips sent
14/02 Valuation booked for 16/02
14/02 Bank statements (linked from previous app) and Payslips awaiting approval

So just waiting now to see how valuation goes tomorrow - happy so far as has been really smooth process and they have been really responsive so fingers crossed!

Damn thats quick. From app to valuation i was 13 days!

clur84

our story so far we are buying a new build under our local council affordable housing scheme and have a 10% deposit this restricted us to only a handful of lenders.

Dec - Looked around a new build
7th Jan - DIP gained from broker (Halifax)
8th Jan- application submitted to the council
19th Jan - Application successful meeting criteria for affordable housing
21st Jan - reservation fee paid for new build plot
5th February - Full mortgage application submitted
6th Feb- fees taken
7th Feb - Recent wage slips and bank statement requested
10th Feb - requested letter from my employer
13th Feb - Email from broker to say everything was fine just waiting for the valuation.
15th Feb- received a copy of valuation from Halifax through the post - States the property is valued at the same price we are asking for.

From the broker saying everything is fine and us receiving the valuation would you hazard a guess that we are all good? This is the hardest longest wait of my life and I have been pregnant twice so know how to wait lol!

starshapedbrick

Harryp_24 wrote: »

Damn thats quick. From app to valuation i was 13 days!

Nationwide say it takes up to two weeks to arrange a valuation after application but both times round for us it has been organised within 2/3 days. Don't know if that's just luck, or good surveyor availability!

Valuation is today at 11am so fingers crossed we will hear something soon..

orangesmartie

Going to join in this thread:

13/02 Offer accepted on property
15/02 DIP obtained
16/02 full mortgage application submitted


ETA: 16/02 valuation booked for 20/02

LKA87

LKA87 wrote: »

We are finally making progress! After 8 days of phone calls from our mortgage broker, and a very curt email from me, our accountant finally sent back the requested information to Nationwide. I've had an update today from MB to say nationwide have all the information to hand, valuation has been done and it is now under review. :eek: We should hear about an offer in next few days so fingers crossed for good news!

Spoke too soon...turns out the accountant has STILL not completed the form correctly, we will be changing accountants after this fiasco as she is just demonstrating her incompetence to us! In addition to this the valuation has come back 2k under our offer (we already knocked 8k off the asking price) so waiting to see if vendors will reduce price or complete the suggested works
We have a fantastic broker but still finding this all very stressful and frustrating!!

Sahmed660

Heard back today from Nationwide and they say on affordability they can only lend us 40k less than asked for. Someone must be fudging their figures somewhere since the affordability assessment would have taken place at DIP stage.

Apparently the broker didn't include student loan then. But that's only £140 a month so don't see how that takes 40k off affordability!

spendinglikemad

Sahmed660 wrote: »

Heard back today from Nationwide and they say on affordability they can only lend us 40k less than asked for. Someone must be fudging their figures somewhere since the affordability assessment would have taken place at DIP stage.

Apparently the broker didn't include student loan then. But that's only £140 a month so don't see how that takes 40k off affordability!

ugh thats pants - what will you do now?

SLM

spendinglikemad

offered/accepted 8th Feb
mortgage advisor meeting 10th Feb (has gone through projections in 2016 so we knew the ballpark mortgage wise)
because of the nature of the offer - solicitors instructed 9th Feb (and confirmation letters in post)
Surveyor booked for 13th Feb - our own building report
mortgage in principal done
valuation fees paid today 16th Feb and formal mortgage applications submitted (BTL and residential)
next will be valuations to book in

Good luck everyone
SLM

Dutsey

Mortgage AIP
Reserved house - £500 - 11/02.
Awaiting to hear from Mortgage Broker