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

loobiej1

Yay i have received a text well 3 all at once
1, valuation recieved & will be intouch once reviewed.
2, valuation approved.
3, Good News weve issued a mortgage offer
Please read carefully.
I'm not sure if this will be any different to application, i hope not. I received the text from NW when my broker had finished so hoping to speak to them tomorrow !!!9786;

So here is my timeline
Application submitted 9/02
Documents sent over 10/02 + 11/02
Valuation carried out 20/02
more documents required 21/02
27/02 -Mortgage offer text received = 12 working days.

Thank you all for your support

Sazzy7

Congratulations on such a quick process, who is your mortgage with if you don't mind me asking? I'm self employed (director of a limited company) with only one year's accounts getting a shared ownership mortgage. My mortgage broker found Halifax and said they would offer me a mortgage, but wanted 15% but he would appeal it, they wouldn't budge but I said I could get the extra money from a family member. I paid for the valuation and chased him for three weeks, he said Halifax were being slow, then he said they needed a new scan of my passport, then he said they are increasing my deposit requirement from 15% to 20% because the building is converted into new build flats and isn't technically a new build. But they haven't even done a search on my credit score, as nothing has shown up. All seems rather strange. It has taken nearly a month and I was supposed to exchange two weeks ago and now trying to find another lender.

Fisa002

loobiej1 wrote: »

Yay i have received a text well 3 all at once
1, valuation recieved & will be intouch once reviewed.
2, valuation approved.
3, Good News weve issued a mortgage offer
Please read carefully.
I'm not sure if this will be any different to application, i hope not. I received the text from NW when my broker had finished so hoping to speak to them tomorrow !!!9786;

So here is my timeline
Application submitted 9/02
Documents sent over 10/02 + 11/02
Valuation carried out 20/02
more documents required 21/02
27/02 -Mortgage offer text received = 12 working days.

Thank you all for your support

YESSSSS! see told you an offer would be here similar to mine. All you had to do was have faith. Honestly the brokers know what they are talking about. Mine was definitely worth the weight in Gold. Think I owe him a drink after I get the keys to my house. Now you can relax a little and get on with the conveyancing. Let’s take over that other thread :D

Fisa002

Sazzy7 wrote: »

Congratulations on such a quick process, who is your mortgage with if you don't mind me asking? I'm self employed (director of a limited company) with only one year's accounts getting a shared ownership mortgage. My mortgage broker found Halifax and said they would offer me a mortgage, but wanted 15% but he would appeal it, they wouldn't budge but I said I could get the extra money from a family member. I paid for the valuation and chased him for three weeks, he said Halifax were being slow, then he said they needed a new scan of my passport, then he said they are increasing my deposit requirement from 15% to 20% because the building is converted into new build flats and isn't technically a new build. But they haven't even done a search on my credit score, as nothing has shown up. All seems rather strange. It has taken nearly a month and I was supposed to exchange two weeks ago and now trying to find another lender.

Oh no. I’m a director of ltd company too but buying residential FTB. We had ours accepted by nationwide.

Why did the broker go with that lender in the first instance? I think you need to speak to another broker- pref a whole of market one and try and get this sorted as soon as.

Or post it on as a main thread on the forum asking for advice. Maybe one of the online MBs may be able to assist you x

Sazzy7

Thanks for the advice. Mine is a residential purchase too. The broker said Halifax was the only lender that would offer me a shared ownership mortgage with only one year's accounts. I have spoken to another broker and they are going to come back to me in the next day or two after speaking to some lenders. I really hope I can get this sorted, I don't want to loose my flat. It's so annoying as it took the broker two weeks to find the mortgage with Halifax and then three weeks of the deposit requirement constantly increasing and now it seems that there never was an actual agreement in principle. I went with him as he is connected to the estate agent working on the property and thought it might speed up the process, but I was wrong.

Fisa002

Sazzy7 wrote: »

Thanks for the advice. Mine is a residential purchase too. The broker said Halifax was the only lender that would offer me a shared ownership mortgage with only one year's accounts. I have spoken to another broker and they are going to come back to me in the next day or two after speaking to some lenders. I really hope I can get this sorted, I don't want to loose my flat. It's so annoying as it took the broker two weeks to find the mortgage with Halifax and then three weeks of the deposit requirement constantly increasing and now it seems that there never was an actual agreement in principle. I went with him as he is connected to the estate agent working on the property and thought it might speed up the process, but I was wrong.

Oh no. They always say on here to avoid those kind of agents like the plague on here. Did you have to pay anything at all? Hopefully your new broker maybe able to help. Doesn’t help to also see another one and get somone else to look simultaneously to ensure your getting the right information and more importantly quickly x

jward93

So far so good with my application with NatWest I really shouldn't have worried so much...I am now full of confidence with my Broker, others have refused to even put the time and effort into trying due to a spotty credit history some time ago.

Mon 26 Feb - AIP
Mon 26 Feb - Application completed by broker with supporting documents
Mon 26 Feb - Valuation booked for Thur 1 March and fee taken
Wed 28 Feb - Get a call from broker saying that he has spoken with the lady Underwriting and that everything looks great, they just needed 3 months more payslip as the P60 is so old they want to check the regular commission and overtime payments.
Wed 28 Feb - Payslips sent are perfect and now just awaiting valuation and should have an offer by Monday

Broker said that NatWest are acting super fast on cases at the moment and a week turnaround is average for them, especially as they survey at the same time as Underwriting.

Feeling 100x better about the whole situation now!

sandyk01

This is soooo helpful! My Valuation was uploaded a day after yours on the Saturday (Im with Nationwide too)

So.... hopefully my offer comes soon!! :eek: eagerly looking at my phone for 'that' text message!

steph2901

I can finally post on here after months of looking for a house (we've missed out on so many)

I saw a house come up on Right Move on Saturday morning, made an appointment to see it later that day. Made an offer immediately, offer was accepted that evening I contacted a broker on Monday and have received my DIP today. So now I'm just about to send off my bank statements and payslips. Now the waiting and stress begins, keeping my fingers crossed it all goes ok!

Lovely to read everyone's success stories

Exoterror

I've been lurking on here for a few days while waiting for my mortgage offer, and now I have received it I thought I would share my timeline to help out others waiting.

Sat 3rd Feb: Offer Accepted.
Fri 9th Feb: Mortgage Advisor meeting, had provided requested documents beforehand.
Thu 15th Feb: Mortgage Advisor meeting to make full application. Application made to Virgin Money.
Wed 21st Feb: Further documentation requested, and sent.
Thu 22nd Feb: Valuation.
Fri 23rd Feb: Further documentation requested, and sent.
Wed 28th Feb: Mortgage offer received.

It feels like such a huge relief to have the offer, and we can breathe a little bit easier now. As a FTB the last few days have been tough to get through. We were comfortably within the maximum that VM would lend to us, by around 7-8k. Even then, until we actually heard that yes from them we couldn't help but be worried that something would crop up.