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

spendinglikemad

Sahmed660 wrote: »

2 weeks since application to Nationwide today and no offer. Gave them a call and she said if no more documents are required then by the end of next week seems realistic. Sigh

Aw its so painful waiting - same here though our valuation is in for checking and after requesting Feb payslips no current requests for info so hoping to get offer next week - was hoping for today but maybe half term slows everything down?

SLM

Resh

I have found my people! LOL

FTB waiting for offer. Mortgage valuation happening on Wednesday the 1st of March and I'm a nervous wreck. Normally quite stoic about everything but apparently not this. Decided this morning to sign up for the forums here to commiserate with folks in the same boat.

AllyT90

Hi Resh,

I feel your pain. My application only went in on Friday and I am already so nervous to find out if its been successful or not.
Id say if your valuation is on wednesday then you should have an answer by Friday. Fingers crossed for you.
The lady I dealt with in the bank said if it was declined that I would likely hear soon but that it can take up to 10 working days for an offer.....its going to be a long 10 days :eek:

Whos is your mortgage with if you dont mind me asking?

spendinglikemad

Resh wrote: »

I have found my people! LOL

FTB waiting for offer. Mortgage valuation happening on Wednesday the 1st of March and I'm a nervous wreck. Normally quite stoic about everything but apparently not this. Decided this morning to sign up for the forums here to commiserate with folks in the same boat.

Hi Resh - its a horrible waiting game.....we can sympathise and encourage each other!

Last time I did this was 19 years ago and it didn't feel a long wait - maybe it wasn't then!! (pre-internet!!)

SLM

Resh

It feels like the longest wait EVER! My husband is ready to smother me with a pillow because I keep nagging him about everything like that will even help. We must have looked at the photos of the house a million times by now.

We got a DIP from TSB - although our credit ratings are fine we only had 5% for the deposit. I've made the actual timeline although the first half of the month is a complete blur.

18 June - current tenancy end of lease
MORE NAIL BITING
1 March - mortgage valuation
NAIL BITING
20 Feb - mortgage application
13 Feb - seller accepted our offer
1-12 Feb - viewings, initial appt with mortgage advisor, DIP

AllyT90 wrote: »

Hi Resh,

I feel your pain. My application only went in on Friday and I am already so nervous to find out if its been successful or not.
Id say if your valuation is on wednesday then you should have an answer by Friday. Fingers crossed for you.
The lady I dealt with in the bank said if it was declined that I would likely hear soon but that it can take up to 10 working days for an offer.....its going to be a long 10 days :eek:

Whos is your mortgage with if you dont mind me asking?

AllyT90

Myself and my Fiance have done the exact same thing. The more we look at the photos, the more nervous I get so I should really stop looking at them.
The mortgage is solely in my name so feeling under a bit of pressure as I will feel like its all my fault if its declined.
We initially had a 5% deposit but the bank recommended 10% as didnt think we would get approved on a 95% mortgage.
So we managed to get our deposit up to 10%, which has killed our wedding savings.
Anyway, hopefully it will all be ok.
My credit rating is "poor" on experian because of an o2 default, which they have agreed to remove but have not yet done so. However I have a letter from them confirming it was their mistake, but the lady in the bank said they usually disregard phone contracts so it should be fine.

Other than that, I have 2k on a credit card, with the same bank and my student loans.
I have passed the affordability check so the MA said its all down to my credit rating so Im scrutinising everything lol

Fingers crossed for us both, and you too spendinglikemad :beer:

Resh

For us the mortgage is in both our names although I'm listed as the house person because I don't have enough records of my self-employment to satisfy a lender and we didn't want to overcomplicate the thing. So that's kind of weird but our advisor said to come back and remortgage in two years which is when they'll get my income in there, too. I was like can we get this mortgage first before we start talking about remortgages haha. I feel like calling him right now even though there's nothing he can tell me.

spendinglikemad

AllyT90 wrote: »

Fingers crossed for us both, and you too spendinglikemad :beer:

I have been trying not to pester our broker and he said we should hear something this week.

Ours isn't a standard mortgage as we are borrowing the deposit against our current property on an interest only basis (we may let it out if it doesn't sell before end of summer) its a BTL mortgage but buys us some time as we had to move fast to secure the house we wanted - hence we went to a broker as our bank (lloyds) doesn't do this type of mortgage any more !

Oh and we have a massive stamp duty bill to pay so we want to sell ours once (hopefully) we move and then claim back the additional amount paid for having 2 properties

SLM

AllyT90

Resh, I was the same, I was doing my application over the phone last week and discussing the fixed rate terms, I agreed to 3 years fixed and already she was advising me of the best course of action as soon as the 3 years are up! Ehh lets get this mortgage approved first Mrs Mortgage Advisor!

SLM, If your Broker said youd hear something this week, surely it wouldnt be unreasonable to ring him on Wednesday morning to get an update.
I always tell myself that this is their job and Im sure theyve dealt with much worse than me lol
At least I hope they have!

This time next week we could all be laughing our way to our new houses!!

spendinglikemad

AllyT90 wrote: »

R
SLM, If your Broker said youd hear something this week, surely it wouldnt be unreasonable to ring him on Wednesday morning to get an update.
I always tell myself that this is their job and Im sure theyve dealt with much worse than me lol
At least I hope they have!

This time next week we could all be laughing our way to our new houses!!

thanks - yes I will save myself for a Wednesday update if I haven't heard anything by then!!