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

vls

HopefulOne2017 wrote: »

Does anyone know if Barclays/Woolwich instruct valuation before or after they've made a decision? Nervously waiting here 😶

Hi there - its definitely after, I've just gone through the process directly with Barclays/Woolwich (rather than a broker) and after many many questions/providing of evidence they agreed the mortgage subject to the valuation and then instructed it.

Good luck - I'm a FTB and I have to say this has been the most anxiety ridden process!

Shammi

Good luck Shammi.

I put my application in on the 18th May to Nationwide. Valuation was booked the next day - still waiting to get the final text offer from them, but nothing as yet... strap yourself in for the wait as they currently have a 13 working day turnaround on apps. All the best...[/QUOTE]

OMG :eek: 13 days

Good luck to you too! I'm sure it'll work out for the both of us....but the stress :eek:
In the mean time I am going greyer by the day.

solidsebi

Shammi wrote: »

Good luck Shammi.

I put my application in on the 18th May to Nationwide. Valuation was booked the next day - still waiting to get the final text offer from them, but nothing as yet... strap yourself in for the wait as they currently have a 13 working day turnaround on apps. All the best...

OMG :eek: 13 days

Good luck to you too! I'm sure it'll work out for the both of us....but the stress :eek:
In the mean time I am going greyer by the day.[/QUOTE]

It could be quicker, you never know... I had to supply an extra document, and there was a query on my app, which has now been resolved. Mine is a straightforward case, but still, the wait is killing me... good thing I have already lost all my hair on my head along time ago

HopefulOne2017

Ahh I really hope so! We've gone through a mortgage broker and they asked for clearer copies of the stuff we had already sent them for 'compliance regulations' but at this point had already instructed the valuation. This was last Wednesday and the valuation took place on Thursday, today we are told they are assessing the valuation and we should know more in the next couple of days! So nervous, especially as a first time buyer!

nb0825

03/04/17: called L&C mortgages, discussed options
04/04/17: thought about it, decided on hsbc based on higher borrowing amount than santander
05/04/17: full application submitted to hsbc
07/04/17: Counter offer from hsbc; reduced by £2,500, due to salary income. Counter offer submitted by Tom
10/04/17: Received reply from hsbc confirming new loan amount. Proof of deposit, bank statements and payslips emailed in
21/04/17: Spoke to 2 L&C agents, nobody could explain why there was no update. Received email from my case advisor a few hours later. He explained the loan amount was reduced by £2500 and HSBC assumed I would cancel my application because the LTV was now over the 65%, even though I applied for a 75% LTV value product. Not the case at all, given the small reduction. Documents which were sent on April 10th were not uploaded either by my case manager to the lender. Not impressed.
22/04/17: Passport, driving license and ID docs sent to L&C
25/04/17: ID Documents received by L&C and sent to lender - lender now has all documents they require
26/04/17: Transactions were queried by HSBC regarding several transfers of money to/from accounts in my name.
04/05/17: Query as to how much I would spend on TV packages and why I have a £20 direct debit to Tesco Bank.
11/05/17: Received confirmation from L&C that mortgage has been approved by HSBC subject to satisfactory valuation of the property.
19/05/17: Called HSBC and paid for £99 booking fee (not valuation fee, fee for locking in the rate offered of 1.89% above BoE)
25/05/17: Connell’s surveyors booked to see property on June 1st (another week to wait)
01/06/17: Valuation survey completed
02/06/17: Mortgage offer issued


Summary: Avoid London & country and avoid HSBC

Alchopops

Alchopops wrote: »

Newbie here, and must say I've learnt loads by just reading through other peoples stories on these boards!


We've just accepted an offer on our property and had already paid a £500 deposit for a new build, as its not due to be finished until end of July/beginning of August. My husband has only just started a new job so his debt/income ratio has not been brilliant for the last couple of months, although the only debt we now have is a car on hire purchase and his credit card with 6k, its been completely nerve-wrecking going through this whole process! Hope this makes sense..


2nd May - our house put on the market
4th May - second viewing on new build
9th May - had a DIP with Yorkshire BS verbally before viewing any houses but while going through the affordability checks a couple of days later turns out they were unable to lend us the full amount, even though nothing had changed
10th May went to L&C and received DIP in writing with them
10th May - full application in with Barclays
15th May - reservation deposit paid on new house
31st May - we accepted an offer on our house
Today - L&C have spoken to Barclays who have done the valuation so they expect hear back next week


My conveyancer is wanting funds to start the searches which is £300, would people recommend waiting until we know the outcome of our mortage application before instructing this? We can't afford to lose £300 on top of the £500 deposit if it all goes wrong!

Just an update to say we received our full mortgage offer from Barclays/Woolwich in writing this morning. Relieved is an understatement!

Contrary to some I can personally recommend L&C, they couldn't have provided a better service for us. And fee-free!

mazzyp

Hiya, just coming to sit down on the mat. Awaiting decision from Aldermore, looks like I could be in for a loooong wait! Anyone got any biscuits? x

Frances109

Just had a text from Nationwide to say they have received the valuation report! Anyone know how long until offer now? Or at least fingers, toes and whole body crossed for an offer

solidsebi

Frances109 wrote: »

Just had a text from Nationwide to say they have received the valuation report! Anyone know how long until offer now? Or at least fingers, toes and whole body crossed for an offer

It's been about 10 working days since I received my text from Nationwide about receiving the valuation report for my property. 2 weekends have passed, so I would say you still have a bit of wait - but you never know. I'm still waiting for my final offer text. If you goto the Nationwide Intermediary website, it says approx 13 working days from application to offer... good luck!

HopefulOne2017

Hi! Thank you so much we had our offer through today ☺️