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

kingstreet

crystalpinks wrote: »

Yay I can finally join this thread!!!
Full app went in today and passed credit check, advised that valuation will be booked next week!
So excited as it's been the most stressful thing I've ever done so far! decided to go it alone Which may not have been the best decision but at least things are finally moving forward!
We are using help 2 buy and only lending £80k (have a 80k deposit - 200k purchase price) but have had lots of missed payments and a default in the last couple of years- as well as the fact we have just scraped through affordability!

Anyone else gone it alone when buying a new build? We are getting pressured from the developer big time for not using their broker (or any broker) as in their words, 'they have no control' !!!!! Anyone else think that's a bit much?!

Lots of missed payments and a default and wanting to borrow £80k on a £200k purchase price? Who is the lucky lender you've chosen for this?

Assume you've submitted your own PIF/Res and HTB affordability calculator to the right HTB Agent?

crystalpinks

Yes I've got ATP after applying to H2B

Can you explain what you mean by lucky lender? :eek:

It's Halifax

I thought it would be fairly straight forward but it's been quite stressful! As I said, I wish I'd used a broker but it's done now, just keeping my fingers crossed 🤞
Mortgage payments would be half of what I pay in rent so would be life changing for me and my kids

Grimupnorth

Jumping on this thread as we await our mortgage decision.

17/01 - view property
18/01 - place an offer
19/01 - AIP with Santander secured with broker
20/01 - offer accepted by vendor
22/01 - full application submitted to Santander by broker and they confirm they've received.

Feel like the proper waiting game begins now! Eek.

FloppyDisk

Did you all wait until there was a complete chain before commencing mortgage applications? We are good to go but our vendors haven't found an onward purchase yet so I don't think we should start yet, though keen as mustard!

juniordoc

Floppy disk I see a fair few buyers on here running into trouble because their mortgage offer is expiring and their chain/purchase isn't progressing fast enough. I would definitely wait until your vendor has found somewhere (and give them a reasonable timeframe before you start looking at other properties/ ask them to move into rented).

robgoode

We are currently going through this process atm but starting to get worried about it all.

Found mortgage and spoke with broker. All documents sent and received by them Friday 19th January. Told by broker the application would be done straight away. Its now Tuesday going into Wednesday and I've been told our application still hasn't been put in due to various reasons which have been out of our hands.

House builder has an exchange of contracts date 5th February which is likely not to be met now due to the delays with the broker/mortgage company. I've been told by the broker that it isn't an issue as the house builder will allow an over run and will reschedule the exchange date so long as the application is pending. Is this true? I'm getting anxious now as the timelines people have mentioned means we definitely won't be ready to exchange come 5th February.

Spikecast

Just thought I would update to say we completed on the 19th as planned and moved stuff across over 19/20th. Good luck to everyone else

JAPETH

I am waiting for Virgin to get back to me I hate the wait apparently it will be next week. Everything was happening so fast and seems like its stopped. Here is my timeline...

29/12/2017: AIP with Virgin
18/01/2018: Offered placed and accepted on house
18/01/2018: Application submitted with P60s.
19/01/2018: Gifted deposit form had to be filled in (not sure why broker didn't pick up on this earlier). Because I've been at my place of work for less than 6 months Virgin asked for employer reference. Sent this to the wrong HR email....
22/01/2018: chased employer reference
23/01/2018:: Valuation took place today
23/01/2018:: Extremely worried as Virgin had apparently a computer glitch today and they were asking why my deposit was £30k more than it needed to be. Asking what this was for. Their computer was showing my mortgage application of £250k rather than £205k. Set them straight on that and was told I should hear back next week....which I thought was odd maybe I've been referred.

So thats me. Waiting is painful!

Size4riggerboots

Thought I’d join in this waiting game. Everyone’s wait seems rather quick compared to me so read on to make yourselves feel better

15.10.17: Viewed show home.
25.10.17: Applied to open international account with Barclays as it is a prerequisite to applying for a mortgage.
17.11.17: Reserved new build due to complete April 18’.
21.11.17: Account finally opened.
05.12.17: Scheduled telephone mortgage appointment; contact choose to be unprofessional and not answer. Instead sent an email stating due to cross border rules and regulations they could not offer a mortgage. (Even though from day 1 we were very clear about my partners nationality and transferred 25k into the bank account they allowed us to open!).
05.12.17: Stressed what the hell to do now.
09.12.17: Spoke to mortgage advisor who was very helpful. Found us a mortgage packager.
13.12.17: Submitted all requested documents in the hope of an AIP.
21.12.17: AIP with NatWest International.

Christmas and New Year meant everything paused

08.01.18: Full application submitted. Requested more documentation.
09.01.18: All additional documents submitted.

Now it feels like forever waiting on news. I must be the most annoying client ever constantly emailing the mortgage advisor and broker. I’ve been told due to being a specialist mortgage the valuation is done last after all the financial underwriting.

Good luck everyone

Grimupnorth

We submitted formal application on 22/01 to Santander and been told by my broker today (24/01) that they've instructed a valuer to go to the property, probably in the next week or so.

Glad to see things progressing for a few of us, especially a completion!