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

contractor

contractor wrote: »

Here goes my turn. So stressful.

We're buying a repo. In order to move secure it quick we are going to rent our current house out, swap from a Santander residential mortgage to a Clydesdale BTL 75% mortgage and use the resulting equity as a deposit for the repo. The repo mortgage is with the Halifax. We're trying to complete by 20/12.

I'm confident with my conveyancer and mortgage broker. My concerns are around mortgage acceptance, Clydesdale timings, and someone gazumping us prior to exchange.

26/11/13 1st view
28/11/13 both view
29/11/13 offer made/accepted.
01/12/13 complete all dox (ID/forms/statements etc).
02/12/13 send dox to mortgage broker by email
03/12/13 submit Halifax residential and Clydesdale btl applications. Post off ID.
04/12/13 Rental agency comes round to check expected rental
04/12/13 get and email rental letter to broker, confirming rental > 125% of BTL
04/12/13 get solicitors letter laying out timescale, email to broker to send to Clydesdale so they can prioritise the application. All conveyancing searches requested etc.
05/12/13 Solicitor's details swapped. Call from mortgage broker saying I should get EA to call Colley's to bring forward valuation. emailed EA.
06/12/13 EA gets valuation brought forward to 10/12/13
07/12/13 received letter from surveyors. Send back signed solicitor's pack, send back surveyors letter

10/12/13 hbs done
11/12/13 halifax offered. Clydesdale application underway, valuation to be arranged

philby79

lee-h wrote: »

Another day and nothing - has anyone else had the same?

We had the same with Woolwich. It was listed as under review for about ten days until the survey went through and then it went straight through as expected. I think they just have it as 'under review with underwriters' as there is no other relevant status to ove it onto until after the survey is done.

Try not to worry!

lee-h

thanks philby79, we've had to pay the searches to kick the legal side off while we wait for the offer - I just hope it's all fine! We've nothing to hide and they were happy with all the paperwork, just takes time I guess

kingstreet

lexilex wrote: »

I read that yesterday, and asked her if it was an option but she said some mortgage lenders won't accept it?

You're getting it faxed to your broker, not a lender. How the broker passes it to the lender is their affair and we've never had a problem with it.

BelleBot

I applied for my first mortgage today with Nationwide.
Single first time buyer.

27/11/13 - DIP granted and wage slips submitted
27/11/13 - 2nd viewing on house
28/11/13 - 1st offer made and rejected
05/12/13 - Final offer accepted on the house
12/12/13 - Mortgage application made and submitted

As I submitted my wage slips when I got the DIP they've already been verified and what not, which will hopefully speed things up and I had nothing to prove at application stage.

I'm so excited now the ball is well and truly rolling. I'm just hoping the valuation all goes well.

ajay1987

Still waiting for decision from the Woolwich, all paperwork submitted 02/12, my broker has been on the case chasing them. Fingers crossed for a decision soon

lee-h

I got an offer today but for the wrong figure...seems the broker put 75% instead of 80%, it's been ammended and gone back to review by tomorrow! Apparently no negatives on system from the underwriter which is good

ispookie666

19 & 20/11 - Offer Accepted
5/12 - Finally application put in my MA
12/12 - Valuation done
Waiting for the underwriters to make a decision. Solicitors work put on hold.

Applied to Halifax.

Flashybike1

Hi everyone, my wife and I applied for a mortgage for 143,950 on 2/11/12 for a property of 160k, £16,050 deposit.

• Aip done 22/11
• Full mortgage app 2/12
• Only docs requested were one months payslips
• 4/12/13 2 additional payslips of my wife march 2013, September 2013 as this is when she gets her bonus's (twice yearly).
• 11/12/13 mortgage agreed subject to valuation
• 13/12/13 Valuation booked for the 19/12/13

Crossing absolutely everything!!

Does anyone have any experience with how long it takes to get feedback from the date of valuation / who Santander use to run the valuations / drive by etc?

James

lee-h

It depends on where you are (postcode lottery) and the firm. I had Colleys up north doing mine and I was able to phone directly and get feedback the next day, I also got the paper valuation through the post within 48 hours.