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

Orangesandlemons

Hi all, can anyone help put my mind at rest? Here is our current timeline. We haven't had a valuation instructed get and it's been 9 days since full application was submitted.

19/02 - DIP applied for via IMA with Nationwide - referred to underwriters
20/02 - DIP approved
28/02 - a new DIP done due to change in price of property (not borroring more, just adding more deposit as agreed price was a little over) and full application submitted with all supporting documentation
01/03 - proof of our half of deposit (half is a gift) provided immediatly
09/03 - another copy requested of the proof of deposit as they couldn't see hubbys name on the form - sent immediately. The advisors PA said everything else is great and NW are just waiting for this..

Why hasn't a valuation been booked yet? Isn't this normally done in the first few days?

HampshireH

Virgin seem quite fast.

I pushed the button on application via my advisor on 7th march Valuation booked for today 10th march.

My paperwork is going in to them monday.

Scary.

happytails

Hampshire, I agree, We gave the OK on the 6th and had our valuation on the 9th. Solicitors have sent us paperwork, just waiting for a decision now!

kajstring24

So things are moving forward!!

22/01: After no plans to buy a house, my partner and I spot a property we love and decide to have a look.
23/01: First viewing.
24/01: AiP accepted with Barclays.
27/01: Second viewing with parents.
03/02: First offer made - declined. Second offer made almost immediately.
05/02: Second offer accepted.
14/02: Mortgage application approved subject to valuation after passing credit checks.
22/02: Valuation takes place.
24/02: Valuation comes back 13k below purchase price
26/02: We try to negotiate down to the bank’s valuation but the seller wasn’t interested, so we pulled out the sale.
Hours later, EA calls back to say the seller has had second thoughts and we agree on a reduced rate!
07/03: Mortgage offer arrives in the post.

Now we’re just waiting on the solicitor to tell us what to do next!

allyant

Thanks for posting that there doesn't seem to be many reports on Barclays timeframes, currently waiting for valuation report coming back

Roo89

I think I'm actually going crazy with the waiting...

Nationwide asked for additional information March 2nd which I sent across the same day, the online tracker said the bank statement was received and approved for the same day too.

It's now showing a pending request for another bank statement on the tracker dated March 5th but I haven't been asked for anything.

I phoned 4 times last week and they said they had everything they needed from us and our application was with the final checks team but we still haven't heard anything!

Seeing other timelines is making me stress more that something is going wrong, the valuation was on Feb 27th and we got a text to say NW had received it, they've said the application is on final checks for the last week, they don't need anything from us, so why have we not got the hard offer?!?!

Alarae

Just checked the progress on the tracker and the application was passed back to underwriters on 10 March.

Santander are currently looking at applications to underwriters from 7 March. Probably won't get check until Wednesday now, when no doubt they will ask for something else and then will be another wait for underwriters.. :wall:

At this rate my solicitors will have the legal work done before we have the mortgage offer! :eek:

xanderuk2

Smooth sailing with Nationwide for us

Our broker got us a DIP on December 14th, but decided to hand fire on the full app as completion on our new build isn't due until July 27th (delayed due to bad weather)

March 6th:
All requested documents supplied and full application submitted by broker

March 6th:
Valuation booked by Nationwide. Surveyor due on site March 8th.
I thought this was strange but it seems even during a new build that isn't done yet the mortgage company will still send out a surveyor to review progress and ensure the development is on track to complete on time

March 8th:
Text from Nationwide - Surveyor report is in - they will review within 48 hours and get in touch if they need anything else.

March 9th:
Call to my mobile from underwriters.
Very nice lady just went over a standing order I have on my bank statement. This was our monthly rent, which wasn't very clear.
No further issues and she apologised for not realising this is what the standing order was for.

March 9th:
Text message to say offer issued. This was for the full amount requested a s our broker also sent us a copy.

:T

steph2901

Precise have asked a couple of questions about items on our bank statements. They want to know why my husband got paid more in December (it was £500 annual bonus) and asked about maintenance payments I receive from my ex. I didn't mention them when I applied as they will be stopping in August.

Also been told the valuation has been instructed. I hope that's a good sign!

happytails

Our Valuation was done on Friday - today we have an email from our Mortgage advisor saying the underwriters at Virgin are requesting proof of address - sent her our water bill. She says she expects to hear back from the valuation tomorrow but im not sure if we will get our offer tomorrow or not.

Hopefully this is a good sign and fingers crossed we get an offer - it is so stressful!

Happytails x