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

MisalignedHalo1971

We had our valuation on the 30th April with nationwide, and that came back on the 2nd May as all okay. Although we did have to send off some info that help to buy were asking for last week.
Ours appears to be a little back to front as our notice to proceed from help to buy only came through yesterday. And once again we wait...

Chanlf91

We're still waiting on our offer, our MA has chased lenders as nothing has changed on his portal.
Here's our timescale so far

19/4/18 got DIP from Aldermore
20/4/18 viewed property, offer accepted
24/4/18 full mortgage application went in
27/4/18 further documents requested
3/5/18 valuation instructed
8/5/18 valuation carried out
15/5/18 had welcome call, aldermore requested original documents from earlier request but overall application complete upon receiving original document.

Why they didn't ask for the original document when we sent off the documents on the 27/4/18 I do not know. We'd have a mortgage offer now if we didn't have to chase for an update!

Steph2617

We are applying for additional borrowing from Nationwide. Valuation was done on 3rd May, but still showing as under review. All documents received and satisfactory. I will call them tomorrow, but is this likely to be a problem with the valuation or is it just that they have a bit of a backlog at the moment?

Sargold

FTBNow wrote: »

Still nothing our end from Santander.

Submitted on 26th April.
Valuation instructed on 26th.
Passed to underwriting on 27th.
Valuation carried out 3rd May.
Requested information on statement on 4th.
Back to underwriters on 8th after Bank Holiday.

And here we are, nearly three weeks later! I can't bring myself to e-mail my poor mortgage adviser again.

Did Santander come back to request anything else other than information on statement? sent an explanation last week for some DD they queried. Just sat biting nails now!

FTBNow

Sargold wrote: »

Did Santander come back to request anything else other than information on statement? sent an explanation last week for some DD they queried. Just sat biting nails now!

Nope: nothing else was requested. They just wanted some info on a standing order I had set up for my Masters loan, and a direct debit my partner had for his (now cancelled) gym membership. They queried on the 4th, we answered on the 8th and the application was agreed on the 15th - so all in all took 5 days.

I was advised by my MA that they were behind and working on a 4-5 day turnaround currently.

SophieP2000

Update... we were putting 15% deposit on a £350k house with Coventry BS, they came back and maximum they valued it was £325k, had to renegotiate with the vendor who said they would come down to £345k so 5k saving, to do this we have had to put 10% deposit down on the 325k valuation, and pay £20k cash for the difference. So I'm really thankful we have managed to get the house as we both love it.


Mortgage advisor advised she changed over the product yesterday (from 85% LTV to 90% LTV) and the case will be fully assessed within 1 working day, so should find out today. I'm so stressed and I hate waiting!!


Any one else awaiting offer or recently received one from Coventry BS? A hard credit check was done when we originally asked for the AIP 2 months ago which was accepted, and full application went in on 1st May, came back on 10th May about valuation, we confirmed yesterday about negotiated price and should hear today, so far been 12 working days, getting so impatient!

SophieP2000 wrote: »

Update on our case.... received an email from our mortgage advisor yesterday advising us that Coventry BS have come back and undervalued the property we are buying by 25k. We offered 350k which was the asking price (houses sell within days!) and they valued it at 325k.


We are in the process of trying to appeal, so stressed out! Please no comments saying count your blesses you aren't overpaying etc as I know we aren't ! I thought maybe we were overpaying by 5 to 10k max, but not 25k! the valuer they got in was not from the area, and I don't know what he based his findings on, and they won't supply us with a report. The last house sold 18 months ago for £330k, and this house in question was smaller as it didn't have a conservatory whereas ours does, yet they've valued it 5k less, and the house prices have increased in 18 months not decreased! so now we are stressing.


Requested mortgage advisor to fight our case to appeal the valuation, vendor isn't prepared to come down to 325k, we are arranging 3 further estate agent valuations and hoping this helps our case. Vendors are really lovely and have spoken to them direct, but they need the money for the house they purchasing. if the valuation is correct then they will have the same problem if they pull out, so something we all need to think about!


We already lost the first house we were buying as we got gazumped above and beyond what we could afford, we don't want to loose the 2nd one houses don't come up in the area we are looking at very often!!

hhunter

FTBlalala wrote: »

Hi, I have loved all these posts and really appreciate them.

Thought I'd add my experience as it was pretty smooth with Virgin Money arranged through free broker L&C which I've noticed has mixed reviews on here.

Way back in March, AIP with Halifax to start the house hunt, we are both FTB's. I will probably post the whole journey on the House buying thread as we are a few weeks from exchange (I hope!) but see below the mortgage side...

23/04 - Mortgage finder application submitted to L&C
24/04 - L&C adviser phones me to discuss needs and wants
25/04 - L&C provide first recommendation (ending up not being suitable - Clydesdale)
26/04 - L&C provide second recommendation (ticks all boxes - Virgin Money)
27/04 - Morning... Confirm we are happy via email and phone, full application submitted to Virgin Money
30/04 - 10am ish - L&C Case tracking account set up and assigned Case Manager. Awaiting VM to confirm what docs needed.
30/04 - 4pm ish - L&C Case Manager confirms docs needed and sends over DD mandate and declaration to fill out and sign. (Docs needed: Proof of H2B ISA deposit savings for each of us, proof of deposit in normal savings accounts, 3 x latest payslips for each of us, P60 for each of us, signed DD mandate, signed declaration and confirmation of chosen solicitor's)
01/05 - Send all docs requested to L&C Case Manager.
02/05 - Slight mix up with childcare/college fees category, no dependents not childcare, money in that category is for professional education ongoing.
03/05 - Confirmed and resolved query
04-07/05 - Even though it's early days, discover I am not as patient a person as I thought I was. Bank holiday weekend stressing me out :rotfl:
09/05 - Email a polite nudge to Case Manager asking if the valuation has been booked as money has been taken.
09/05 - Afternoon, Case Manager confirms valuation was done YESTERDAY (8/5) and she is going to chase tomorrow for an update and see if further docs are needed.
10/05 - 6pm "Great News - your mortgage offer has been issued". :eek::rotfl::T anxiously awaiting the posted hard copy :T

Now just waiting on the solicitors..... boo

Keeping my fingers crossed for all those waiting!

Thanks for this. It’s given me hope as my process so far has been very similar to yours (also a FTB, and did my AIP with Halifax at the end of Feb to enable me start looking. L&C also recommended Clydesdale, and that’s the one that I’ve gone for).
10/5 - Confirmed wanted to proceed with L&C recommendation
11/5 - Application submitted
14/5 late morning - L&C case tracking account set up and case manager assigned
14/5 around 4pm - L&C case manager sent list of docs needed and DD mandate and declaration to fill out and sign. (Docs needed: Proof of H2B ISA deposit savings, proof of deposit in normal savings accounts, 3 x latest payslips, 3 x latest bank statements for account that salary gets paid into, signed DD mandate, signed declaration, and confirmation of chosen solicitor)
14/5 evening - Sent all docs requested to L&C Case Manager.
16/5 - L&C Case Manager confirmed documents received and asked for H2B ISA proof to be resent as name was missing from page
16/5 - Sent another copy of H2B ISA proof
17/5 - Contacted case manager to confirm latest H2B ISA proof was received and acceptable

Now the waiting game begins...wish I had asked whether the valuation has been booked, but I’ll try to wait until next week before I start pestering them for updates!

EMCS

First time buyer.
Still awaiting H2B authority to proceed (should be Monday latest) but broker has pushed on regardless and started the application proper with Nationwide.

Valuation scheduled for May 25th.

FTBNow

Still waiting for ours: valuation returned £16,000 less :eek:. Despite the estate agent's best attempts to deter the vendors away from us, we had a phone call last night to say they're sticking with us (woohoo!). So mortgage is now for £145,000 not £161,000.

MA is getting in touch with Santander this morning to let them know so hopefully not too far away now. :T

kbm271186

Application submitted - 19th April
Valuation booked for - 8th May
Valuation received - 14th May
Valuation approved - 17th May

Now just waiting for the offer.