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

lena_halo

MissMagpie wrote: »

That is fantastic - I am so pleased for you! Happy new home!!! :beer: Fingers crossed mine goes the same. I had word from the conveyancer yesterday which said

“My clients are expecting their mortgage offer by the end of this week.
My clients are now asking if any items of furniture are staying, in particular the wardrobes. They would be happy if they were to be left.”

That, to me, still didn't say whether it had been approved or not, and I asked as much and she replied

"If the purchasers are waiting on their mortgage offer that would normally mean that the mortgage has been approved and that the mortgage offer is on its way. I will let you know when I hear more"

So I will continue to wait....and hope.....

It is making it feel real now! Can't wait to see the actual document :D:D

Ooh fingers crossed, sounds like yours is on the way :beer:

Jeden

@Chanlf - broker called us today to say Aldermore are running a bit behind and haven!!!8217;t had chance to look over the valuation and my wife!!!8217;s paylips yet bt they will have done by mid morning tomorrow.

Fingers crossed for a decision in the morning! I!!!8217;ll keep you updated if I have news.

Chanlf91

@jeden

Thanks for the update. Our MA mentioned there's a backlog. Last documents submitted Monday so surely should hear something soon. I feel like I'm pestering our MA but I can't rest at the minute so I'm gunna have to give him a call today for updates.

Yes please keep me updates, the only thing keeping me sane in this post knowing that other people are in the same situation!

Good luck and fingers crossed for you!

FTBNow

Our current status is this:

16/04: Offer accepted on house.
25/04: AIP with Santander
26/04: Ful application, valuation requested and full credit check carried out (hard search came up on my Experian file and took off 36 points. Ouch!!)
03/05: Valuation being carried out today.

Am I to assume that because the valuation has gone ahead we're basically "in the clear" as far as the credit check goes? I know there are probably finalised checks, but...

I had endless nightmares last night of logging on to MATS and seeing "mortgage application declined". Argh!!

Kweedan

Hi Everyone

Myself and my partner are first time buyers with Nationwide.

We had an offer accepted on a place in January, did a full mortgage application, and after 4 weeks it was accepted and offer was sent through. A few weeks after this the property fell through So we have found somewhere else.

New property has gone like this so far...

27.03.2018 - Did a DIP online for a property that was going to best and final offers and wouldn't accept any offers without a DIP to back this up. Was a house with no chain (owner had passed away) and family wanted it gone, and was told that it was between us and another lady who had to sell her house first.
29.03.2018 - Didn't get the place, apparently more people came in at last minute.
30.03.2018 - House that we saw back in November and LOVED comes back on the market.
03.04.2018 - Go to view house. Came back on the market as cellar had flooded due to the bad snow, and previous buyer did not feel up to repairing (Single lady living on her own) My partner is a carpenter and felt up to the work should we get it.
04.04.2018 - Make offer.
05.04.2018 - Offer accepted on the house for £8,000 under the original asking price due to the current conditions and problems.
09.04.2018 - Amended original DIP with new address and purchase price, and full mortgage application submitted.
19.04.2018 - Valuation carried out.
20.04.2018 - Valuation comes back and is not good. Highlights all the problems that we didn't already know about before we offered, however property is valued at £7,000 less than what we paid for it and £15,000 less than what they were originally asking for it.
23.04.2018 - Speak to estate agent to renegotiate price. Advisor at Nationwide says either bring price down or they will impose a retainer of £10,000 until problems are fixed, as they believe it is worth what we were paying for it without the problems.
25.04.2018 - Get an e-mail from Nationwide to say our application had been declined. Rang call centre and they wouldn't tell us why or anything about it, just that a senior underwriter had found something on our credit report (?). Estate Agent tells us that the vendors want to accept our offer but it puts them in affordability issues, so they are going further up the chain to renegotiate what they are buying.
27.04.2018 - Advisor comes in and gets feedback to say it was the valuation rather than our credit reports. Amends the mortgage application based on our new purchase price and deposit. Decision goes back to accept.:j
02.05.2018 - Get a text from Nationwide to say that the valuation has been assessed and is acceptable.

And that is it for the moment! We have had lots of ups and downs and I think I have aged about 20 years in the last week :eek:

The estate agent has also come back recently to let us know that even if the house that the vendors are buying falls through, they still want to sell and want to sell specifically to us, so they will look for somewhere else. We have said that this is fine, as long as we get the mortgage offer then it lasts for 6 months and we are more than happy to wait We are both FTB living with parents.

We hope we are coming to the end of it now!!

Best of luck to everyone xx

Jeden

@Chanlf -

Just had a text from our mortgage advisers saying that our mortgage offer has been issued!! So happy and relieved this stage is over!

I have my fingers crossed for you guys now. Please do let me know how you get on.

Chanlf91

@jeden

Great news! I bet you're over the moon!

We're calling our MA adviser today for an update. We're about a week and half behind you so hopefully we'll have news about valuation being booked in this week.

Hopefully the next stage won't be as stressful as waiting for the mortgage!

I'll keep you updated on our progress but hopefully see you on the waiting to exchange thread soon!

Jeden

@Chanlf

We have to exchange within the next 2 weeks as it's a new build and the builders terms require exchange within a very small time frame, So i doubt I will be on that thread for long

Hopefully you will have something by the end of next week.

Chanlf91

@jeden

Wow so things will be moving pretty quick then! I wish all exchanges would be that quick.

Well we've had a call from our MA, they've passed the application and they're booking valuation in for next week! So hopefully in 2 weeks we'll have an offer :j

Time to instruct our solicitor to commence work!

gjheward91

We've finally got our mortgage offer!! We had the valuer round our house for our buyers mortgage... fingers crossed they don't undervalue!