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

Tufa

That's what I was questioning as well. Apparently it can happen even with same lender someone might went ahead fine and someone got down-valued (they use different surveyors..), in my case, all the other flats now sold in the building (72 flats overall), i was one of the last buyer, when i made an offer there was 6 flats was available and all sold now, most on mortgage.
The builder EA said, if this one also comes back down-valued, they will discus if they can do anything with the price as the variance is really just about 4.5% against list price.

marcmc84

After a long wait we finally have been issued our mortgage offer :j
Will be moving very soon now as all solicitor was waiting on to exchange is our mortgage offer - Cannot wait!

Heres our timeline with Santander...


Applied to Santander though broker
19th June - Full application submitted and accepted, hard credit check done (showing on Experian)
20th June - Survey booked, further documents requested from underwriters
22nd June - Submitted all documents they have requested
26th June - Survey completed (haven't heard if any issues)
26th June - Found out not passed to underwritters as broker not uploaded all the docs
27th June - Chasing broker - resubmitted docs
28th June - Docs still outstanding - santander final chase - Complained to broker, doc sent
29th June - Finally passed to underwritting
4th July - Application declined (broker called me said its because of a missing document that we had already supplied that wasn't attached to case file. Spoken to senior underwriter who has agreed application can go ahead and we are back in underwriting queue.
6th July - Back in underwriting queue
12th July - heard nothing so chased broker for response. Told it will be looked at in due course.
16th July - Still heard nothing so complained to L & C and they said they will look into and call me back. Had an email later that day saying it has fallen out of santanders accpetable timescales and they will fast track it and will have answer by morning on the 17th July.
17th July - Request for further documents from lender - some they already had and are requesting again as saying not received. We sent them in with the full application and they accepted them, more lost documents the broker has had to submit.
19th July - All documents provided and back in underwritting queue.

25th July - Further document request to confirm salary with employer
25th July - Back in underwriting queue - will be another weeks wait now!!!
01 August - Text and email from Santander to confirm mortgage offer issued :j

Wongus

marcmc84 wrote: »

After a long wait we finally have been issued our mortgage offer :j
Will be moving very soon now as all solicitor was waiting on to exchange is our mortgage offer - Cannot wait!

Heres our timeline with Santander...


Applied to Santander though broker
19th June - Full application submitted and accepted, hard credit check done (showing on Experian)
20th June - Survey booked, further documents requested from underwriters
22nd June - Submitted all documents they have requested
26th June - Survey completed (haven't heard if any issues)
26th June - Found out not passed to underwritters as broker not uploaded all the docs
27th June - Chasing broker - resubmitted docs
28th June - Docs still outstanding - santander final chase - Complained to broker, doc sent
29th June - Finally passed to underwritting
4th July - Application declined (broker called me said its because of a missing document that we had already supplied that wasn't attached to case file. Spoken to senior underwriter who has agreed application can go ahead and we are back in underwriting queue.
6th July - Back in underwriting queue
12th July - heard nothing so chased broker for response. Told it will be looked at in due course.
16th July - Still heard nothing so complained to L & C and they said they will look into and call me back. Had an email later that day saying it has fallen out of santanders accpetable timescales and they will fast track it and will have answer by morning on the 17th July.
17th July - Request for further documents from lender - some they already had and are requesting again as saying not received. We sent them in with the full application and they accepted them, more lost documents the broker has had to submit.
19th July - All documents provided and back in underwritting queue.

25th July - Further document request to confirm salary with employer
25th July - Back in underwriting queue - will be another weeks wait now!!!
01 August - Text and email from Santander to confirm mortgage offer issued :j

Well done and happy for you, got their in the end. :beer: Good luck with the rest of the transaction.

Tufa

FTB with HTB London

09/06 Offer made
12/06 Offer accepted and started to gather all the paperwork to MA
13/06 Mortgage application sent to L&C and from here every day we had to submit different paperwork to them.
21/06 All paperwork been sent finally to Halifax
22/06 ATP Issued (with wrong names)
22/06 Valuation booked in
28/06 Second ATP issued with correct names
29/06 Valuation date
02/07 Valuation rejected, down-valued the flat with an unrealistic price
06/07 More information needed
13/07 More information needed again
16/07 More information needed again
21/07 Text from Barclays, valuation booked for Wednesday.
25/07 Valuation done
27/07 Down-valued again. Tried to speak with the developer to revise the price but they have suggested to apply for a different lender. Tried to speak with Barclays to see if the valuation is correct and everything included, they had 48hr to reply.
01/08 Appeal rejected, applied to a different lender (Santander)
02/08 Valuation booked for 08/08

jaelato1

Tufa wrote: »

FTB with HTB London

09/06 Offer made
12/06 Offer accepted and started to gather all the paperwork to MA
13/06 Mortgage application sent to L&C and from here every day we had to submit different paperwork to them.
21/06 All paperwork been sent finally to Halifax
22/06 ATP Issued (with wrong names)
22/06 Valuation booked in
28/06 Second ATP issued with correct names
29/06 Valuation date
02/07 Valuation rejected, down-valued the flat with an unrealistic price
06/07 More information needed
13/07 More information needed again
16/07 More information needed again
21/07 Text from Barclays, valuation booked for Wednesday.
25/07 Valuation done
27/07 Down-valued again. Tried to speak with the developer to revise the price but they have suggested to apply for a different lender. Tried to speak with Barclays to see if the valuation is correct and everything included, they had 48hr to reply.
01/08 Appeal rejected, applied to a different lender (Santander)
02/08 Valuation booked for 08/08

Oh wow! 3 app in a space of 2 months?
Personally if two lenders has under-value the house then i wont even bother with the 3rd app. clearly the house is over priced. Why you want to buy an over priced house is what I find hard to understand? :eek:

TickTok

TickTok wrote: »

“
Hi all,

FTB here, using L&C and lender is HSBC. Going for 90% LTV with no financial issues, thankfully. It’s a chain-free purchase.

Week 1
-Friday 06/07: Offer accepted (already had DIP)
-Monday 09/07: Solicitor instructed
-Tuesday 10/07: Full application submitted by L&C
-Wednesday 11/07: Documents submitted to L&C branch. Valuation booked for 16/07.
-Friday 13/07: I send L&C updated online statement showing proof of deposit in the a.m.

Week 2
-Monday 16/07: Valuation done. L&C chased me for proof of deposit because case handler didn’t see my email from Friday. I resend, but we’ve now lost 2 working days.
-Tuesday 17/07: L&C Confirm there are no outstanding queries. Told to expect response by COB Wednesday......

Week 3
- Monday 23/07: Chased L&C to find out progress. They confirm valuation is fine. But HSBC want to see July payslip with my increased salary (got a raise July 1), even though they initially said letter from employer was ok. Now the wait continues until end of July, when I get paid. Still no draft contract from vendor.:( EA said he’s chasing...

Week 4
- Thursday 02/07: Success! :j:j:j Mortgage offer was emailed to me today. I submitted my July payslip on July 31st and received the offer within 48 hours.

So total of 23 days from submission of full application to offer (including a week of waiting for my payslip). Overall, it was a smooth process with HSBC and L&C were great in being responsive and following up the underwriters.

Good luck to everyone who's waiting!

Tufa

Because i know how much the other flats went for in the development. Also the first valuation was unrealistic, based on comparing the prices to lower spec flats in about 1.5 mile away (1 or 2 zone further out..).
If this valuation comes out downvalued, the developer agreed to review the price, and the second and 3rd application had free valuation, didnt loose too much other than time, however i know there is no way to find a similar spec flat not even second hand anywhere within zone 1-3, as i am searching for it a year ago.

bazza_white

Third time lucky for this FTB

Offered on a probate/company sale in November it took 4 weeks to reject offer. higher offer went in but another bidder came in. i put another offer .in but so did they and I wasnt going any more. 8 weeks wasted.

23/7 offer on a repossession, i offer 1k above asking and is accepted. another AIP done and no worries
25/7 another offer comes in higher than mine an i decided not to increase my offer.

25/7 i get a call to say another property sale has fallen through. would i like to view. i view the next day and put in my offer of 5k under the 160k asking. Offer will be accepted on the condition i clear the house and the 2 other viewers booked in dont offer.

28/7 I get a call to say another offer has gone in and its higher so we both have to put higher bids in. i offer 160k (asking price) plus ill clear the house (its a mess)

30/7 informed my offer is lower but in a better position, i think the vendors daughter was dreading clearing the house) (it sold for 168 8 weeks earlier but the purchaser got pregnant and pulled out)

30/7 Solicitor informed
03/08 mortgage application in today, loan to mortgage value 65% so fingers crossed.

Lgas

Hi all - those you are awaiting a mortgage decision, can I ask have you already instructed your solicitor? Our application went in yesterday and I am aware there can be a long wait so I suggested paying the upfront fee and getting things moving on the conveyancing side - my partner thinks we should wait until we have been approved for our mortgage. We have already had hold ups and accepted the offer on our house May 31st so I don’t want to delay things longer than necessary.

heston2014

Lgas wrote: »

Hi all - those you are awaiting a mortgage decision, can I ask have you already instructed your solicitor? Our application went in yesterday and I am aware there can be a long wait so I suggested paying the upfront fee and getting things moving on the conveyancing side - my partner thinks we should wait until we have been approved for our mortgage. We have already had hold ups and accepted the offer on our house May 31st so I don’t want to delay things longer than necessary.

It's a tricky one, we are in the process of remortgaging and getting a second mortgage for a new property. Mortgage for new property approved and still waiting for remortgage decision. As soon as our offer on the property got accepted, we instructed solicitors and hoping that remortgage will go through as we would lose monies towards fees paid but it is what it is. Like you trying to avoid any delays on the legal side so lining up everything so hopefully once remortgage comes through (got everything crossed and praying to all the gods of mortgages), it should be go go go with legals! so we hope!