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

DeeDee87

Well I think I left it a bit too late to join in on this thread!

I honestly thought it would take longer to get our mortgage as FTB's.
Here is our timeline if anyone is waiting on HSBC to approve

22/05/18 - Vendor accepts offer
29/05/18 -DIP placed by broker
30/0518 - DIP accepted by HSBC
30/05/18 - (Late afternoon) mortgage application submitted to HSBC...
2/6/18 - application passed to underwriters.
5/6/18 - Confirmed by broker that HSBC have approved the application subject to the
valuation

YAY!

I wish you all speedy decisions if you are waiting

crosejames

We've now received the offer text from Nationwide! Need to wait to see the full offer and conditions before we can get too excited, but the text confirmation is a huge relief!

crosejames wrote: »

Partner and I first time buyers currently waiting on a mortgage decision from Nationwide. He's outwardly very relaxed whereas I'm freaking out, struggling to sleep and can only just concentrate at work. I've been reading this forum a lot and finding it so helpful to read other people's experiences. Our timeline so far (below) isn't outside of our lender's averages, but I can't stand the waiting.

Our timeline so far:

mid-March - told the flat we currently rent is being sold, letting agent can't say if we'll be allowed to stay under the new owner
31/3 - initial conversation with L&C to check affordability, how much we'd be able to borrow etc, receive their decision in principle (not official DIP from a lender, and not based on a credit check)
April - lots of house hunting
9/5 - offer accepted on house we love, another conversation with L&C to let them know. L&C very reassuring about our chances as the price we're paying is approx. 40k less than we could afford to borrow
10/5 - receive mortgage recommendation from L&C
14/5 - receive AIP from Nationwide, submit full application and provide payslips. Nationwide text to say application received
15/5 - Nationwide text to say valuation scheduled
16/5 - Nationwide ask, via broker, for proof of our deposit
22/5 - Nationwide ask for an additional payslip (my partner gets an annual bonus, they want proof of its consistency)
23/5 - text from Nationwide to confirm valuation has taken place, they state 48 hour review period
25/5 - chase broker to see if any news, they confirm Nationwide is happy with the property value and that they will get in touch when they have more news
31/5 - chase broker for an update, they say Nationwide want partners Jan 2017 payslip as proof of bonus. We provided this already on the 22nd, but send again. Broker says we don't need the bonus in our affordability assessment so he's had this requirement waived. Says nationwide working through a backlog and nothing to be worried about.

The wait continues....

Pegasaurus

E.ON_Company_Representative:_Malc wrote: »

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

Hi Malc,

No - there was no dispute. Also, I was given 14 days to pay the final bill not 44. EON customer services acknowledged it was really unfortunate but coudn't change credit file. Hence the ombudsman.

Thanks.

Pegasaurus

Pegasaurus wrote: »

Hi Malc,

No - there was no dispute. Also, I was given 14 days to pay the final bill not 44. EON customer services acknowledged it was really unfortunate but coudn't change credit file. Hence the ombudsman.

Thanks.

Ah, sorry. Correction - it was 44 days before it was sent to CRA but that didn't acknowledge that I'd been waiting on a reply from EON re: a payment query (with two chases) in that time.

EMCS

EMCS wrote: »

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.

May 16 - broker submitted application
May 17 - valuation scheduled
May 25 - valuation
May 29 - valuation approved
May 29 - Nationwide queried a payslip (because it was in a different format due to the new financial year)
May 30 - broker sent information about payslip
June 5 - offer received

KingMob

Anyone had recent experience with Danske Bank? FTB struggling to get a feel for milestones and how long process might take.

Early April - Placed initial offer - recently asked if minded waiting till Oct for vendor to decide if they were moving or not!

24th May - Offer placed and accepted on another property. No chain, vendor moving to new build early July.
30th May - Another appointment with adviser. Documents provided. Mortgage application made.
1st June - Solicitor quotes obtained and one instructed.
4th June - AIP obtained, request for current payslip and payment details for valuation.
5th June - Solicitor info packet received in post, filled in and returned.
6th June - Full application expected today.

Assume getting valuation booked is the next milestone. Not clear to me if Danske will contact me directly or if all comms will go via adviser.

crosejames

Full offer received via email and all looks fine. :beer:

That means from full application to offer, it's been 15 working days. It's been such a comfort reading other people's experiences and timelines, thank you!

crosejames wrote: »

We've now received the offer text from Nationwide! Need to wait to see the full offer and conditions before we can get too excited, but the text confirmation is a huge relief!

Former_E.ON_Company_Representative:_Malc

Pegasaurus wrote: »

Hi Malc,

No - there was no dispute. Also, I was given 14 days to pay the final bill not 44. EON customer services acknowledged it was really unfortunate but coudn't change credit file. Hence the ombudsman.

Thanks.

Pegasaurus wrote: »

Ah, sorry. Correction - it was 44 days before it was sent to CRA but that didn't acknowledge that I'd been waiting on a reply from EON re: a payment query (with two chases) in that time.

Thanks for the update Pegasaurus. Sorry again the final bill was so late and hope all goes well with the Ombudsman.

Malc

Pegasaurus

Got a DIP from HSBC but I don't think they'll like our bank statements so going to find a lender who doesn't need them. Any ideas who they are at the moment?

jedthehumanoid

jedthehumanoid wrote: »

We can finally, tentatively join this thread. Our previous credit history isn't great but fingers crossed that our broker knows his onions...


15/03 Initial chat with Natwest, AIP given with soft search.
30/03 Issues on credit reports shown to Natwest, new AIP given.
15/04 Contacted broker as did not believe Natwest would accept our full application, they agreed
16/04 Begin house hunting in earnest
21/05 Initial offer made, rejected 24/05
24/05 Second and final offer made
25/05 Offer accepted
25/05 Back to broker to discuss options
31/05 AIP referred with Principality, as expected with previous credit issues declared (not a straight decline, woop!)
31/05 Progressed to full application with Principality


Nervously waiting now. Did not expect to be at this point as soon as we are - prepared for another 12 months wait at least.

Small update...


05/06 Broker contacted us to say Principality are happy to progress on to the valuation. Have upgraded to Homebuyers so may take a couple of weeks, but another positive step forward.