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

Fiesto88

Offer came through the post today - unexpectedly, there was a copy of the valuation report attached. All in order, no issues. We had been worried we'd get a downvaluation as we're buying significantly above local sold prices, but it's a quirky property. The valuation report had a very long description of the unique features of the property, so i'm assuming that's part of the justification for the valuation figure.

Timescale then:

27th July - viewing
28th July - second offer accepted
29th July - phone call with broker and AIP obtained from lender
2nd August - solicitor instructed
4th August - full application submitted
7th August - underwriter queried some entries on bank statements, prompt answer given and approved same day
10th August - valuation carried out
24th August - valuation report returned to lender and offer sent out

I'll ring the solicitor next week to see how that side of things is progressing - hopefully pretty straightforward as it's a chain free, vacant purchase.

Cheery_Daff

I am being SO impatient about this! :eek:

9th Aug: offer accepted
17th Aug: full mortgage application put in (broker was away for a few days before this)
22nd Aug: building society requested couple of extra docs, sent straight away
24th Aug: emailed broker to check progress as he'd said valuation would be done end of that week - told me to be patient...

Had a call from seller's estate agent today saying they'd not heard about a valuation yet so chased the building society directly - apparently they've emailed the broker today saying 'based on affordability' they'll only lend £3000 less than we asked for :eek:

When we did the original decision in principle, it was for a different house, and we applied for a mortgage of £200k (with a deposit of £200k from sale of existing house). DIP came back saying they'd lend £215k, with the potential to go up to £224k once they'd seen all our docs.

In the meantime, we found a new house and sold ours for over the asking price, so full application was for £215k with £210k deposit. Now they're saying they'll only lend us £212k...

That's a difference of £13 a month in repayments... :mad:

I'm due a pay rise this month, which they know about and have taken into account, but it'll be slightly more than expected so have emailed details to the broker, and told them we can bump up the deposit if necessary too.

Going away for a few days tomorrow so hoping they can sort something out today but not holding my breath. Glad I rang the building society myself rather than waiting for the broker or presumably we wouldn't have known until we'd left the country! :eek:

Deep breaths...

benlan_2

MORTGAGE OFFER RECEIVED TODAY!

Over the moon and all wrapped up in 28 days!

Good luck all.

AIP (119K): 2/8/2017
Plot reservation paid: 4/8/2-17
Full application made (Precise): 10/8/2017
Hard Credit search made: 11/8/2017
HTB Application made: 11/8/2017
ATP: 17/8/2017
Valuation instructed: 21/8/2017
Valuation booked for: 24/8/2017
Mortgage offer received 29/8/2017

tt07

Cheery_Daff wrote: »

I am being SO impatient about this! :eek:

Had a call from seller's estate agent today saying they'd not heard about a valuation yet so chased the building society directly - apparently they've emailed the broker today saying 'based on affordability' they'll only lend £3000 less than we asked for :eek:

That's frustrating, we are in limbo awaiting valuation survey which is booked for Monday, good luck sorting.

benlan wrote: »

MORTGAGE OFFER RECEIVED TODAY!

Over the moon and all wrapped up in 28 days!

That's good going well done.

bubblerawk

We are still waiting on an update. We were told last Tuesday that the mortgage app went in on the Monday (21st) and they were going to book the valuation. We haven't heard since, I've chased the broker but not heard back. I'm so impatient ����

MrCH

Valuation and homebuyers survey being done today
It was originally the 21st, then moved to the 23rd and finally moved till today.
No rescheduling email received so hopefully it is going ahead.

bubblerawk

we have had an update now. Valuation is tomorrow and all ok subject to the valuation. Roll on tomorrow ��

Cheery_Daff

Well I am NOT impressed :mad:

30th - decision in principle for £215k
9th Aug - offer accepted
17th - full application done through broker for £215k
22nd - broker requested extra docs
29th - building society got back to broker to say would only lend £212k
29th - I emailed proof of impending pay rise which will easily cover the extra £13 a month
31st broker emailed to say senior underwriter will now only lend us £195k (rising to £202 once pay rise has started) due to my student loan payment - which both broker and building society have known about from the start :eek:

To say I am NOT impressed is an understatement :eek: surely the point of a broker is to avoid such shennanigans? And how come building society would lend us £212k on Tuesday but only £195k two days later??

:eek:

Tried ringing broker but no answer. I'm actually on holiday and could do without this!

Jader123

Jader123 wrote: »

New to the forum

Going through a broker through santander. Feeling so nervous and can't think about anything else!

9th Aug - viewed the property
11th Aug - DIP approved through our broker with santander
12th Aug - 1st offer on property declined, 2nd offer accepted
25th Aug - finally broker has all documents needed, was waiting on one document I had to request new copy of!

Hoping broker submits today, so nervous and literally told about 5 people as don't want to get hopes up and then not get mortgage offer

What's santander turn around like from full application to mortgage offer?

Good luck everyone who is awaiting a mortgage offer

25th Aug - underwriter got straight back saying I had sent wrong copy of document so had to wait even longer

1st Sept - finally right document came and sent straight to broker who forwarded straight to santander.

Now a nervous wait 🙈🙈 going to be a long weekend!

Jaglad111

31/08/17 - Valuation done

01/09/17 - 'Hello call from Aldermore'

01/09/17 - Full offer! Thanks ACG, Dawn @ Mortgage success!