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

tori.k

we finally get to join you guys
Timeline
5/3 house viewed
7/3 offer excepted
10/3 DIP reproduced
12/3 mortgage application with platform (co-op) via broker

This should be a fairly easy process as we were set up with another property that fell through so hopefully looking to complete in 5/6 weeks time.

Village_Idiot

Booo, looking like bad news for us

Looking at a joint application with my wife, she's full time salaried and I'm self employed - only due to get my first year of accounts next month, so we had been patient and hadn't started the property search yet (but had started talking to brokers). One such broker got in touch saying he could help us early, and got us a DIP really quickly a few weeks ago. (main reason for being able to help early, the company has been trading for 10 years+, I just bought into it this year as a Director)

We had gone to view a load of properties, put an offer in on one which was accepted. Lender (via broker) took the survey fee, requested a load of paper work (payslips, letter from accountant, unaudited results for the company for this year, etc etc) which was all promptly sent. Got a message this morning that the underwriters have binned it all off, no details yet - but sounding like it's the lack of company accounts whilst I've been a Director.

So frustrating, as we're only a month away from being able to do this with the appropriate accounts - but I allowed our hopes to be built which allowed us to choose a property, which we're now likely to lose. Grrr!

GL to all those who are still pending decisions.

Roo89

Got the offer this morning!!!

Got our DIP with Nationwide 30/01/18
First Viewing 10/02/18
Second Viewing and Offer Made 12/02/18
Offer Accepted on house 12/02/18
Mortgage Application Submitted 22/02/18
Valuation and Survey completed 27/02/18
Solicitor instructed 27/02/18
NW required more documents (sent back same day) 02/03/18
Survey report received 12/03/18
Solicitor started Searches 13/03/18
NW hard offer received for full amount 14/03/18
:beer:

We had some issues with Nationwide, I think we got unlucky with the person reviewing our application, because we had to notify them 4 times about a standing order payment before they updated their system.

Slick88

So having been lurking for awhile I'm ready to join the thread!

03/02 - AIP with Natwest
12/2 - Appointment with independant MA to look at available options
14/2 - First and Second viewing of a property new to the market that day!
14/2 - First offer rejected (it was a very cheeky offer
15/2 - Second offer rejected
17/2 - Third and final offer accepted
22/2 - Began to instruct Solicitors
23/2 - AIP with MA for TSB accepted and full application submitted
26/2 - Full application received by TSB - Credit check appears on file - Survey money taken
26/2 - MA puts survey on hold until Application process has moved forward.
5/3 - More documents requested and alteration to Gift declaration (make sure if your getting a gift and a joint applicant both your names are on the gift statement!)
5/3 - Documents returned same day - MA passess info across and tells us survey should be instructed week of 12/3
13/3 - emailed MA yesterday for an update yesterday and patiently waiting for a reply.

I am ridiculously nervous about the process and im terriffied that something is going to go wrong! The house is exactly what we wanted and thanks to the generoisty of the OH's parents we now have a 10% deposit instead of a 5%...

It's probably not made any better by the oter half being so chilled out about it! :mad::mad::mad:

Slick88

Update

14/3 - MA just called to advise that he is letting the survey go ahead and that TSB are now reviewing the documents we submitted last week.

He's fairly confident that once the survey has gone ahead we should get our mortgage offer :j

*fingers crossed*

stripedbanana

It's probably not made any better by the oter half being so chilled out about it!

Mine too. I am obsessing over it and OH is horizontal. I need somebody to stress with, it's why I'm here :rotfl:

Our application tracker hasn't changed at all since last Wednesday at "valuation report received, we will contact you when it has been fully assessed". :wall:

Slick88

Ah that sucks!

I'm almost glad I don't have a mortgage tracker app... I think I'd go mad and just sit in the corner of a room in the dark refreshing it until something happens. :undecided:undecided

I'm losing so much sleep staying up at night reading horror stories on the forums, I think my students think I'm ill!:eek:

JBBROWN94

At last I am at the end of my journey and I get the keys to my first home on Friday!!

walkersneed

Hey all, I wanted to share my experience as I've been so impressed - I've spent the last three months stressing out over so many 'what if's, and I ended up just going for it and applying for a mortgage as I'd found a really lovely flat I can see myself living in.

Background: FTB, approx. 55% LTV, clean credit history (no overdrafts, no credit cards, no loans, no mortgages, no CCJs, no bankruptcies, have three hard searches in the last 3 months due to various reasons)

12/03 evening: Applied with Natwest direct over the phone (paperless system) (took two hours, from 6pm to 8pm). I had uploaded 3 months' bank statements and 3 payslips and 1 proof of ID beforehand onto their digidocs system. The advisor who helped me was so lovely, and whenever I freaked out over interpretations of questions she was so good at reassuring me.
13/03 morning: Natwest sends me a text message confirming they've received my application.
13/03 afternoon: I receive a text message from 'Valuation' saying that they'll carry out a valuation on behalf of Natwest on the 15/03.
14/03 morning: can finally access the tracking system. Nothing shows up of interest.
14/03 afternoon: I receive a text message from Natwest saying 'Good news! Your mortgage application xxxx has been agreed subject to receiving a satisfactory valuation.'
14/03 night: I call up the Natwest mortgage centre to make sure this text was not a system error - and it was not! The advisor was able to assure me that an underwriter had actually reviewed my application and clicked 'send' to send me that lovely text message. :j

So the turnaround for underwriting was less than 48 hours from submission of full application! I would recommend making use of the Paperless system that Natwest set up - I only used it because I wanted a 6pm appointment (due to work hours), and in-branch couldn't offer me that. But I'm impressed. It actually sped up the process and got me to this stage so quickly! :beer:

Alarae

Alarae wrote: »

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:

As predicted, Santander are asking for more. This is information they definitely could have asked for last week! Need to provide more payslips, last year p60, letter to confirm I will continue zero hour (second job) and confirmation of our current outstanding mortgage balance.

Annoyingly I can find every p60 except for that one job for that year. Asked payroll to try and email me another copy otherwise I'll have to wing it and send my last March payslip instead.

It's just one thing after the other. Will be another week wait as well