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

Cheery_Daff

Is this what the brokers have told you? - 'don’t think they will need more wage slips as it’s back with the under writers again after validating documents.'

That seems to mean that, at the minute, the lender (bank/building society) don't need you to provide any more wage slips, as your application is currently being looked at by their underwriters (who are the people who make the decision about whether or not to give you a mortgage). It seems they have validated your documents - which just means they have checked them (at this stage they've probably just checked they have everything they need from you).

Does that help? It seems to mean the lender has everything they need for now so you'll have to be patient and wait for them to get back to you!

If that doesn't make sense in context, you should probably go back to your broker and ask them what they meant

feekerry

Got a call on Friday from broker saying lender happy with application and could I clarify a few points. Then got a text last night saying valuation instructed for next week!!!!
Lender is paying for valuation so hopefully this is a massive plus point they have instructed this!!

middy991

mortgage offer received this morning, sellers solicitors seem to be holding it up been over 3 weeks nd my solicitor still waiting on the contract pack from them

mailmannz

Well, this was quick. Applied last week for a mortgage through Barclays with the paper work being sent off on Friday morning.

Got a letter today (Wednesday) from Barclays saying "congratulations, find enclosed confirmation of your mortgage offer"

Now to get the ball rolling with everything else!

Regards

Mailman

Budapest123

Bit of an update: found out yesterday that the mortgage has gone through and the formal docs are in the post!

Now just to try and get our solicitors to do sonething!

:j:j:j

LittleMac13

I'm hoping Santander are quick with mine too! They've been pretty speedy so far :-)

16-Oct-17 - Applied for AIP (8pm)
17-Oct-17 - Got AIP certificate (at 9am hah!)
23-Oct-17 - Submitted full application with broker
26-Oct-17 - Submitted extra info as Santander requested
28-Oct-17 - Received call for valuation appointment
31-Oct-17 - Valuation!!
*EDIT* - 06-Nov-2017 - MORTGAGE ACCEPTED!

Just hoping now that the valuation goes okay and I received an offer soon :-) Fingers crossed!

One question, does the fact I'm at the valuation stage mean I've "passed" whatever criteria Santander look for when underwriting? Or do they just run alongside each other?

:-)

tkel01

Got AIP approved after referral with Leeds BS.....full application went in on Friday.....cant sleep...feel 10 years older!

LittleMac13

Had the valuation at 10am today and they said I'd hear in a couple of hours, however I've not heard a pip :-(

Makes me wonder whether they've undervalued my property. Hmm, fingers crossed they've just been busy...

Grantley1988

Hi,

We are pleased to confirm that your mortgage application of £225,000 on behalf of G WHITE and S JOHNSON has been accepted.

The following product(s) have been secured;
INC825 Fixed Interest, INC825 FIXED RATE;Fixed at 1.99% until 31.01.2023

Where we have asked you to provide documentation please send or fax to the address below, ensuring all correspondence has the mortgage account number displayed on it.

PO Box 820
1 Lovell Park Road
Leeds
LS1 9PD
Fax 0845 609 8847

We have instructed a valuation and we will keep you updated of the outcome of this.


What does this mean exactly? Is it just confirmation of application or that they have accepted our application?

I’ve copied the main part of the email forwarded to our broker from TSB.

Thanks

bowlhead99

Grantley1988 wrote: »

What does this mean exactly? Is it just confirmation of application or that they have accepted our application?

They have accepted your application subject to receiving any documents they asked for (if they actually requested any) and that documentation being consistent with what you said it was, and on the valuation being satisfactory.

If you do go ahead and buy that property, that agreed product rate is secured - they have accepted the idea of you and your declared personal circumstances buying that property using their mortgage at that rate for that term.

However, it's not the actual formal 'offer' of the mortgage. Until they have those documents they requested from you (if any) and they've had an independent valuation performed to show the property is worth what you want to pay, they won't just hand over the cash. But if everything proceeds according to plan, then yes you can borrow that amount on that property at that rate.