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

kzboard

Well we got our mortgage offer through earlier this week - woohoo!

We also got our copy of the HomeBuyer's report through today, which is stressful reading. Lots of 3s and 2s. Really not sure how to judge whether we should be worried or not. Some of the points are obviously not a big deal, but others I have no idea. Part of me wants to ignore it and plough ahead with the purchase, but if I was going to do that, why did I pay for the HBR in the first place?!

Well, I'm off on holiday for a week now. Maybe I'll have an epiphany while I'm away.

liviboy

FTB couple here - thought we would join in after all the help the forums have given us...
We're in Scotland so the process is a wee bit different up here than down south and we're making use of the Nationwide's Save to Buy account...

24/12/2014 - Decision in Principle from Nationwide. Last payslip requested (submitted and approved).
03/01/2014 – First (only) viewing.
03/01/2014 - Solicitor instructed - noted interest in property.
06/01/2014 – Offer made on the property - accepted verbally.
09/01/2014 - ID verification for solicitor completed.
17/01/2014 – Full application submitted in branch - no additional documentation requested at this stage...
17/01/2014 - Home Report /Valuation Report requested from surveyor.
Now - the nervous wait ;-)

The house is currently unoccupied and as we're FTBs hopefully everything will go smoothly as we're chain free...

We're both very excited and will be keeping you posted with our (hopefully good) news :j

Rachelbr21

I thought I would join in and share our timeline. I must say I am very impressed with nationwide! We were FTB doing the help to buy equity loan.
07/01/14 - DIP from nationwide
09/01/14 - Full application - text received to say they had it.
10/01/14 - Valuation booked for 16/01/14 - text received
16/01/14 - valuation carried out
17/01/14 - valuation satisfactory & formal mortgage offer issued - text received.
I am so impressed with the time scale ! I thought it would have taken much longer and that they would request more documents etc. So glad it wasn't though I couldn't have coped with the worry lol Now to just receive our offer in the post!

FTB202

When I had my first AIP with Santander all EA's were ignoring it and instead they asked me to prove my deposit. Once they saw it they told me that I'm fantastic customer and asked me to use their in-house mortgage service. I told them I need help to find a good property - not a mortgage. So they didn't want to help me anymore. So Santander withdrawn their m-ge offer on one of the houses because there was long chain and after waiting 5 months the vendor still couldn't confirm when I can move in.

Then I found another flat. Went directly to Halifax. To my surprise, they didn't issue me AIP but told straight away that I shouldn't have problem getting a mortgage. I think the main factor for that was my deposit (30%), which they also didn't ask to prove ( another surprise). She only asked if I didn't take out any loans to fund the deposit. I never had a loan - only 4 credit cards (paid in full every month for last 6 years). Just needed to show my payslips and wait for valuation results.
When advisor typed all information in computer, the machine said 'Yes'. But when I did show my payslips (I have 2 jobs), she didn't look so confident about that, because my salary isn't same every month - depends on overtime. But when I said I was living at present address over 10 years and do one job 7 and another one 4 years plus one job gives me every year a bonus (2-3k), she changed her mind and submitted my application. She calculated my average monthly pay from last 6 months payslips from both jobs.
In total I was waiting for Halifax decision over 2 months - 7 weeks for valuation to be done and another 2 weeks for mortgage offer. Very long and stressful process.
Good luck to other people.

right_track

Another FTB here.

Here's my timeline so far...

06/01/2014 - Saw house on Rightmove.
07/01/2014 - Went to see the house
08/01/2014 - Offer made on house, rejected, 2nd offer made on house, accepted
13/01/2014 - Spoke to Broker who got AIP with Woolwich (Barclays)
16/01/2014 - Full application submitted to Woolwich with payment for valuation

liviboy

liviboy wrote: »

FTB couple here - thought we would join in after all the help the forums have given us...
We're in Scotland so the process is a wee bit different up here than down south and we're making use of the Nationwide's Save to Buy account...

24/12/2014 - Decision in Principle from Nationwide. Last payslip requested (submitted and approved).
03/01/2014 – First (only) viewing.
03/01/2014 - Solicitor instructed - noted interest in property.
06/01/2014 – Offer made on the property - accepted verbally.
09/01/2014 - ID verification for solicitor completed.
17/01/2014 – Full application submitted in branch - no additional documentation requested at this stage...
17/01/2014 - Home Report /Valuation Report requested from surveyor.

20/01/2014 - "Valuation appointment" booked for 06:00 today - presume this simply means the report either requested or received as there are two "other documents received - awaiting approval" messages on my tracker.

lexilex

lexilex wrote: »

09/2013 - Saw property on RightMove, whilst on holiday!
04/10/2013 - First viewing
12/10/2013 - Second viewing.
14/10/2013 - Received London & Country decision in principle.
15/10/2013 - First and second offers made, both rejected.
16/10/2013 - Third offer made, rejected.
28/10/2013 - Met with a local broker, found out DIP from L&C wasn't valid and we would have to wait until end of Nov to get another DIP due to an issue with wage slips.
31/10/2013 - House sold!
09/11/2013 - House reappears on RightMove!
26/11/2013 - Got wage slips needed, met with new broker.
27/11/2013 - DIP with Santander. 85% LTV.
28/11/2013 - Offer finally accepted.
03/12/2013 - Full application with Santander and solicitors instructed.
10/12/2013 - More documents requested.
12/12/2013 - Docs submitted
16/12/2013 - SA302 submitted, application sent to underwriters.
02/01/2014 - Valuation instructed
03/01/2014 - Valuation carried out and mortgage offer.
04/01/2014 - Solicitors forms returned
05/01/2014 - Homebuyers survey booked.

We have had no letter confirming our mortgage offer from Santander. Our broker has chased this up but still nothing. It's making me a bit panicky! Surely it shouldn't take 2 and a half weeks to send a letter.

liviboy

liviboy wrote: »

FTB couple here - thought we would join in after all the help the forums have given us...
We're in Scotland so the process is a wee bit different up here than down south and we're making use of the Nationwide's Save to Buy account...

24/12/2014 - Decision in Principle from Nationwide. Last payslip requested (submitted and approved).
03/01/2014 – First (only) viewing.
03/01/2014 - Solicitor instructed - noted interest in property.
06/01/2014 – Offer made on the property - accepted verbally.
09/01/2014 - ID verification for solicitor completed.
17/01/2014 – Full application submitted in branch - no additional documentation requested at this stage...
17/01/2014 - Home Report /Valuation Report requested from surveyor.
20/01/2014 - "Valuation appointment" booked for 06:00 today - presume this simply means the report either requested or received as there are two "other documents received - awaiting approval" messages on my tracker.

20/01/2014 - MORTGAGE OFFER ISSUED - Text Message!

That means from full application to offer only took ONE DAY!

I honestly can't believe it!

gazfocus

gazfocus wrote: »

Loving all the excitement in this thread so thought I would join in

We are going to be renting our current house out in order to buy our forever home.

05/01/2014 - Saw house on Rightmove and fell in love.
11/01/2014 - Viewed house and loved it even more (only needed the one viewing really).
11/01/2014 - First offer made on house.
15/01/2014 - First offer rejected.
15/01/2014 - Second offer accepted.
15/01/2014 - Got AIP from Natwest for £7k more than needed.
16/01/2014 - Instructed Solicitors.

Now sitting tight waiting for IFA to submit the full application...gonna be a long weekend me thinks.

Just a quick update

21/01/2014 - Received Memorandum of Sale from EA.
21/01/2014 - Full Mortgage Application Submitted via IFA.
21/01/2014 - Valuation Fee Paid.

roast

roast wrote: »

Update
17/01/2014 -Email from broker saying they are dealing with the mortgage, outlining the amounts, asking for proof of address, ID, P60's, payslips and bank statements etc - all sent.
17/01/2014 - Valuation booked for the 22/01/2014

21/01/2104 -Seller has pulled out, he has wasted everyone's time.
Not that gutted really, wasn't meant to be. Back to rightmove.