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

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.

SophieP2000

ANYONE at all awaiting an offer from Coventry BS?


MA advised we would have heard yesterday following the change of product that was actioned on Wednesday, and their turnaround time is 1 working day (we had to put 10% deposit rather than 15% deposit in the end due to valuation valued 25k less than we offered, we didn't want to loose the house so paying the extra in cash ourselves)


Chased MA last night who said she heard nothing and will chase first thing this morning and let me know. I'm so stressed!!!

SophieP2000

Can anybody answer this please, we got a DIP with Coventry BS in March and we they completed a hard credit search, they later did an ID search in April, and we submitted our full application on 1st May, will they do another hard search or was the DIP hard search they did all they'll do? Haven't had any further searches... valuation etc done, and MA sad our case should be fully assessed by yesterday, obv didn't yesterday so hopefully today.

FTBNow

Not sure how Coventry BS work, but we had a soft search at AIP stage (Santander) and then a hard search as soon as the application was submitted, then passed to underwriters for further checks.

If you've had a hard check done once i can't imagine one being done again. It does usually go to the underwriters for a look over though.

freedom12

HI Guys
Is underwriter team last step before mortgage offer. Are credit referencing team and underwriter team same. Our application is stuck with underwriters at the moment

FTBNow

Who is your lender, freedom? We've never heard of a credit referencing team with ours: but Santander did do a hard check to begin with and then it went to the underwriters. I'd guess that the credit referencing team is the hard check and the underwriters are the human eyes on the mortgage application.

freedom12

Halifax Intermediaries

FTBNow

With my (very little) knowledge I'm going to guess the credit referencing team do the hard check and then forward it on to the underwriters. In our experience the underwriter was the last step before we were approved, and then it went onto approving the valuation.