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

Frarubvio

Okay thank you. Better keep the cash i have in the bank just incase then

JaneyLouWho

Woohoo! Mortgage offer recieved, for the correct amount this time! What a relief. Finally off to the 'waiting to exchange' thread! Hope everyone else's applications go smoothly - thanks for the support! X

mattconway

Hi everyone. I have been reading the thread for a while and wanted to join in on the thread.

Me and my partner are first time buyers using help to buy on a new build due for completion in May 2018.
22/11 - DIP & Application made to Natwest through our broker
24/11 - Valuation Fee taken out, further payslips requested and sent by broker and valuation booked in for Monday.

We are both very nervous about the process. At this point would the application have been assessed? Is the further payslips just to evidence income. We are both full time so all payslips are the same.My partner tax code is 1041L due to HRMC incorrect rebating last year so tax code change this year. Will Natwest take that into consideration do you think when assessing income. It's roughly £14 less per month than he would normally get.

Any advice is appreciated, it is a nightmare waiting as you all are aware!

mattconway

Do you think them requesting further payslips is a bad sign?

JaneyLouWho

Matt - no, in my experience they only request extra things if its not an outright no.

mattconway

Thanks for the reply. I am hoping its not a no. Hopefully we will know more this week.

3rdtimemover

Offer accepted 26th October
Mortgage application through broker to Santander on 7th November
Valuation instructed 8th November
Additional documents requested and approved by 13th November
Additional documents approved by 16th November
Passed to underwriters on 16th November
Valuation booked for 23rd November
Additional documents requested 21st November & submitted on 24th
Valuation took place 23rd

We've heard nothing from valuation (Thursday & now Sunday) & I'm stressing the underwriters are still requesting additional documentation (one being that current house is in negative equity - we plan to rent it out).
Keeping everything crossed for a positive outcome from valuation tomorrow & a decision asap. I'll be gutted if it doesn't go through. If it does I'm hoping for a completion before Christmas as the house is empty & we've no chain

yping930

Sharing our timeline here as we have chosen HSBC and they does take their time to consider our application which is only a share ownership mortgage.
16/10 Application completed online
17/10 Bank replied online asked for lists of documents
18/10 Docs sent to scan in branch and ID verified
19-11/11 weekly calls and checked progress
10/11 paperwork referred to underwritter and request 'missing' documents
13/11 Under writter asked for pension letter Again and seems they have got the numbers wrong! Promised to finalize in two working days
16/11 mortgage approved subject to valuation!!🙌🏽🙌🏽
22/11 valuation done
23/11 mortgage offered!!!
Now it's all under the good hands of our solicitor and the housing!!

Firsttimebuyers

mattconway wrote: »

Do you think them requesting further payslips is a bad sign?

No, we got asked for more payslips by NatWest too, in our case it was to evidence Overtime as we needed it to ensure we hit affordability - it might be similar, if there's a chance your Gross Pay TD doesn't match what you say your salary is?


E.g. if you're paid monthly, this month is Month 8 of the Tax Year - if they look at your Total Gross, divide it by the month number you're up to, then multiply it by 12 (months in year) and it doesn't match what you've stated your Salary is - they'll want to try and figure out why.


Good luck everyone

mattconway

Firsttimebuyers wrote: »

No, we got asked for more payslips by NatWest too, in our case it was to evidence Overtime as we needed it to ensure we hit affordability - it might be similar, if there's a chance your Gross Pay TD doesn't match what you say your salary is?


E.g. if you're paid monthly, this month is Month 8 of the Tax Year - if they look at your Total Gross, divide it by the month number you're up to, then multiply it by 12 (months in year) and it doesn't match what you've stated your Salary is - they'll want to try and figure out why.


Good luck everyone

Hello. We are not declaring any overtime , but I get paid 4 weekly so that might be the reason I guess. My partner gets paid monthly.
We have both changed jobs in June and earn more so that might be the reason I guess. They have asked for 3 more months I believe.