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

kingstreet

Yes and all you are expected to do is carry on clearing it at the end of every month.

You are not being told never to use it/them again.

Nikkilevel27

Hello all.

We are in the process of buying our next and hopefully forever home.

We've sold our flat with the new owners entry date of 11th July.

We found a house we loved in the area we wanted and put in an offer.

30 may: offer accepted on house
31 may: realised my DIP expired the day before and had to reapply with Yorkshire Building Society.
1 june: DIP approved. Took 24 hours despite being told it would be no longer than 4. Full mortgage application then completed.
2 june: receive email from Yorkshire Building Society to inform me application has been received but will take upto 3 working days to be reviewed.

Really nervous. Hope things can move quickly!! We requested date of entry to new property on 11th July, same day as we have to be out of our flat, but not sure things will move along so quickly!

YBS haven't even requested any documents yet. Apparently someone will get in touch once application has been reviewed to send them. Would have liked to have sent them along with the application to save time.

One question though. I have only just realised that my partners address on wage slips is his previous address! I could kill him. Would this complicate things? All other documents and electoral role are registered at our current address.

I'm trying not to think about it, but so nervous! Really wouldn't like to lose this property.

Anyone had any experience with YBS? Thanks!!

Lau7889

Got my nationwide mortgage offer text!! So relieved!!

lastbigspender

Lau7889 wrote: »

Got my nationwide mortgage offer text!! So relieved!!

Lau7889 how long did it take from valuation to offer??


I have had a mortgage approved in principle pending valuation which took place last Wednesday 30th May. No text since last Wednesday morning to advise valuation to take place????


I was reading it should be a 48 hrs turn around time, they are not waiting on any documents as they asked for further documents at application stage which have been submitted.


Should I call them, if so what is the number to ring?

kmills89

Finally able to join this thread again... hurray!


I've had to withdraw from three flat purchases in the past year (one due to legal issues with the Freeholder, one due to structural issues with the roof, and the most recent due to a down-valuation of £40k on a new build development) so I'm hoping for fourth time lucky!!


First time buyer, just submitted my application with Santander via broker. Fingers crossed please everyone! Anyone else waiting with Santander at the moment or recently?

Pegasaurus

Just trying to remortgage. Good six-figure salary, £10k on a credit card, £16k car PCP and a good credit history. With one painful exception. Switched away from EON in April 17 and they took 4 months to issue a final bill which I was 3 days late paying. My bad on that, but the sods have lumbered me with 4 months of arrears in July 17. Complaint in with ombudsman but won't be resolved in time for remortgage.

Painful.

Anyway, L&C seem to think HSBC might be open to our case and so an application is about to go in. I'll be amazed but it's only a soft search so we'll see. Fully expecting it to fail and for us to have to go with a sub-prime 'adverse credit' mortgage with the likes of Aldermore.

Fingers crossed, and good luck to everyone else waiting!

ks15

Delighted to say that Barclays updated TrackIt this morning and my offer is being posted out to me - yay!

Valuation was completed last Wednesday so a pretty quick turnaround. Still need to provide my proof of deposit in my LISA but pretty close to being sorted!

ks15 wrote: »

Currently waiting for a decision from Barclays:

09/05 Offer accepted on a 1 bed with Help to Buy
16/05 Full application submitted (found out this morning hard search was done on this day which is great!)
17/05 Barclays want additional info like proof of deposit, held up slightly as awaiting 2018/19 LISA bonus
18/05 Help to Buy Application submitted
24/05 HTB come back to say error on on Sales Memorandum so needed to get that fixed, resubmitted on Friday (I hope, mortgage advisor slightly annoying and slow)
25/05 Alert email from Barclays that they have requested the valuation

Until this morning I had no idea if the credit check had been done - I was really nervous about it not going through or something but checked my report and it was done on the say of application and they wouldn't be bothering with the valuation if I hadn't passed that so feeling a lot more confident about the process!

Hopefully get the offer within the next week or so!

TamsinC

valuation instructed today (should be this week), direct debit signed, lender has 'satisfied' most documents and just needs to look at pension provision for older age, and then the valuation and then hopefully the offer - fingers crossed it doesn't take too long.

Former_E.ON_Company_Representative:_Malc

Pegasaurus wrote: »

Switched away from EON in April 17 and they took 4 months to issue a final bill which I was 3 days late paying. My bad on that, but the sods have lumbered me with 4 months of arrears in July 17. Complaint in with ombudsman but won't be resolved in time for remortgage.

Painful.

Hello Pegasaurus and I'm sorry it took a long time to sort out your final bill.

With a change of supplier, it's the new supplier that drives the switch. They're responsible for sending the old supplier the meter readings they open their account to. The old supplier uses the same readings to close their account. This stops the same energy from being charged twice. The readings go through a third party (Data Collector) who checks they're in line with past readings held for the property. Sometimes, the Data Collector will make a change and both suppliers need to use the same amended readings to open/close their accounts.

I have to say, though, 4 months seems a long time to receive readings. Was there a dispute? These can happen where the respective opening/closing readings don't match or if the Data Collector changes the readings. They're usually resolved using an industry wide procedure called an Agreed Reads Dispute (ARD). This is where the two suppliers re-agree the opening/closing readings and re-submit them.

Another delay could be if the new supplier hasn't signed up to Faster Switching. Most have but there are exceptions. If they have, switches go through in about two and half weeks. If not, it could be 5 to 6 weeks.

Once we have the correct readings from the new supplier, we look to have the final bill issued within 35 days. Customers are given 44 days to pay bills before anything is shared with a credit agency. As you paid this quickly, you're right to take this down the complaints route and refer to the Energy Ombudsman as you're unhappy with our explanation.

Sorry again the switch didn't go smoothly Pegasaurus and the final bill was delayed.

Malc

RubyHouse

RubyHouse wrote: »

Also waiting eagerly to hear from Virgin. Our house is chain free and we are FTB so want to move quickly.

15th May DIP with Virgin Money
18th May Full Application To Virgin Money
22nd May Valuation Fees taken from account
23rd May Found an incorrect default on my account with Experian from HSBC in 2013 !!!8211; had a total panic but was reassured from broker that we had both passed credit checks.
Just waiting on confirmation of the survey date.


We are staying with my partners Mother whilst we wait for the sale to close so praying nothing bad happens !!!8211; although our dog is loving life there.

UPDATE - Survey and valuation booked for 4th June - just over 4 weeks from offer being accepted.

Received confirmation today from our broker that Virgin have issued our offer and it will be in the post today. Our broker is having a final check over to make sure the terms etc are okay.

What is an acceptable time to propose completion dates? The house is empty and contracts are with our solicitor waiting to be signed - should i suggest the 15th June?