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

Fisa002

loobiej1 wrote: »

Thank you, i still haven't had any text regarding valuation even though its meant to be ok, i bet i only get it once its passed assessment, did you get one?
I hope i get my offer soon Its been 12 working days today which is what they say online is their current average time from application to offer

Ok so valuation was done on 16 feb.
NW txt on Fri 23 feb to say they received it - a week later (then was the weekend) and took 2 working days to evaluate and offer.

Don’t worry about those timelines. They really are nonsecal. Mine must be a record at over 33 days.

Your broker said close of today right? Usually means tomorrow you will find out. X

Fisa002

jward93 wrote: »

I am pooing my pants...passed the credit scoring now just waiting for the underwriter to do his job! Don't want to face the embarrassment of telling the estate agent I cannot obtain a mortgage!
NatWest have already booked the survey....just worried the few blips on my credit history from when i was young and dumb will come back to haunt me!

Dont worry ! Why don’t you post up a full timeline to help others in the same position as yourself. X

loobiej1

Fisa002 wrote: »

Ok so valuation was done on 16 feb.
NW txt on Fri 23 feb to say they received it - a week later (then was the weekend) and took 2 working days to evaluate and offer.

Don’t worry about those timelines. They really are nonsecal. Mine must be a record at over 33 days.

Your broker said close of today right? Usually means tomorrow you will find out. X

Thank you, yes my broker said it was just waiting on valuation been assessed & would hopefully completed by end of business today. I was just worrying as ive had no text regarding valuation that was carried out last Tuesday

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!