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

Mattmuzz

Mattmuzz wrote: »

Hi all.. thought I would get involved..


28th June 2018 - Offer accepted on house for £193,000


2nd July 2018 - Mortgage application submitted with First Direct


5th July 2018 - Sent completed ID Forms to solicitors


10th July - Phone appointment with first direct completed and documents uploaded (Passports, 1 bank statement and 1 payslip each). AIP received


12th July 2018 - Uploaded house purchase forms to solicitor


18th July 2018 - Valuation carried out


20th July 2018 - Payment for searches sent to solicitor


23rd July 2018 - Called first direct to ask for result on valuation, came back £1000 under.


25th July 2018 - Called FD to ask for documents regarding valuation to forward to EA. I was informed there was a mistake on the valuation because the sale prices was listed at £192,000.. FD queried this.


26th July 2018 - FD informed me that the vendor directly told them that the sale price was £192,000, it seems valuation company took this as the price even though all documents involved states £193,000. First Direct aiming to get this changed.


27th July 2018 - Solicitor confirmed all applications for searches had been sent to relevant parties.


Very nervous for the mortgage application as I have read that FD can be strict. We have clean credit ratings and a salary that easily gives us £400/500 disposable income after mortgage payment and estimated bills.


Fingers crossed!

UPDATE


3rd August - Called First Direct and told valuation has been amended to the sale price! Application now goes to underwriters to confirm ID and hopefully give the green light.. nervous!!

FTB0101

FTB with Aldermore, I have a bit of a Jaded past with my credit history. Hence the need to use Aldermore.
AIP 22/06
Offer made and accepted 27/06
Full Application 04/07
Valuation instructed 10/07
Valuation completed 12/07
Additonal information requested 19/07
Additonal information provided 28/07
Validation call 03/07
Mortgage offer 06/08

Using Aldermore was the only option for me, based on 95%LTV and bad previous credit history. They did ask for a lot of information but all in all the experience was good. My advise would be to find a good broker. We didnt think we would get a mortgage for at least the next 2 years, so he was worth every penny.

Can start planning my move now :-)

AdverseCreditGuy

I too have a very dull credit report and i have used a Broker which have been amazing, completed lots of paperwork, forms, bank statements, payslips etc, after 2 weeks we received a DIP from TML (The Mortgage Lender) who are specialists with my credit background.


Sourced a Property and offer was accepted 2 Weeks ago, the application is now with the Underwriters and are awaiting a Mortgage Offer, personally i think the process has quite quick on the basis that my brokers ensured all documents & finances were in place prior to presenting them for the initial DIP.


Valuation & Process Fee was taken on the day of the initial Application to TML..


Additional information was requested 24 Hours after application.


Now just waiting for the DIP from Underwriter


Just wanted to put this on here if anyone else has similar Credit History and has no alternative but to apply for SUB-Prime Mortgage.. BUT use a Broker mine have been great and although this may not complete i have been totally assured that everything that could be done has been done..

synavm

16/07 DIP approved
19/07 Full application sent off in branch, pay slips and gifted deposit form supplied
19/07 Valuation booked in
20/07 Bank Statement requested
23/07 Valuation carried out
23/07 Additional bank statements requested and letter from Dad showing how his gift will be used to clear credit card/car loan
26/07 Phoned to chase valuation, NW confirm it has been received along with additional documents and have been sent back for review
27/07 Nationwide underwriters decline application
02/08 Natwest Application submitted, ID and documents uploaded
03/08 ID and documents reviewed
07/08 Valuation report received

... Only sticking point so far is that there is a note on the tracker for my broker to call from the 3rd August. Seems they're yet to action it. I wonder what it could be. Hopefully it's not fatal as it appears the valuation has been carried out, and given they charge for valuations (unlike Nationwide), I'm hopeful that there is some sort of offer on the way.. Fingers crossed.

08/08 Found out we've been declined for Natwest too

On the cusp of giving up. I'm not going to go for an Aldermore or an adverse lender just because of a few tricky bank statements to cover the birth of our child (particularly when our credit report is near perfect and all our commitments are being paid off). Can anyone help? Should I scrap the house and wait for my Dad to complete, come back with three clear bank statements?

jaelato1

synavm wrote: »

16/07 DIP approved
19/07 Full application sent off in branch, pay slips and gifted deposit form supplied
19/07 Valuation booked in
20/07 Bank Statement requested
23/07 Valuation carried out
23/07 Additional bank statements requested and letter from Dad showing how his gift will be used to clear credit card/car loan
26/07 Phoned to chase valuation, NW confirm it has been received along with additional documents and have been sent back for review
27/07 Nationwide underwriters decline application
02/08 Natwest Application submitted, ID and documents uploaded
03/08 ID and documents reviewed
07/08 Valuation report received

... Only sticking point so far is that there is a note on the tracker for my broker to call from the 3rd August. Seems they're yet to action it. I wonder what it could be. Hopefully it's not fatal as it appears the valuation has been carried out, and given they charge for valuations (unlike Nationwide), I'm hopeful that there is some sort of offer on the way.. Fingers crossed.

08/08 Found out we've been declined for Natwest too

On the cusp of giving up. I'm not going to go for an Aldermore or an adverse lender just because of a few tricky bank statements to cover the birth of our child (particularly when our credit report is near perfect and all our commitments are being paid off).. Gah. Mojo, our broker, have been the square root of useless too. Non-stop misadvice. Can anyone help? Should I scrap the house and wait for my Dad to complete, come back with three clear bank statements?

I think you will get better response by opening a new thread.

If you dont mind me asking what's in the bank statement that is putting lender off? Are you using unarranged overdraft by any chance? If so I hear many lender frown on this

Teamocil

Can somebody reassure me here? I'm carrying £7,500 of credit card debt on 0% offers until early 2021. The broker assures me that I'm pretty comfortable on affordability even factoring in the £200 a month I'm currently paying and he's used to seeing people with significantly more debt getting mortgages. I have no missed payments or anything and don't use overdrafts. I'm putting down a 20% deposit but I have some extra money I could use to pay down the cards if necessary.

Am I right in thinking that realistically the worst that's likely to happen here is that the bank turns me down over the debt, but the broker will assure them that I will therefore use savings to pay down the debt to reduce their risk?

~shoozy~

Just a quick update.

I'd applied on 1/8 for Help to Buy, yesterday it was declined because my DIP was for £180k but the house I'm buying is only £165k which means I can afford the house without HTB.

So frustrating!

Now I have been advised that I need a 10% deposit and to change lenders, so new mortgage application going in today and keeping everything crossed that this new mortgage application goes through.

Tufa

09/08 Mortgage offer issued!

Aberdeen-Loon

Hi all,


Getting stressed as it just seems Leeds are aking their time... (Property is in scotland so no valuation needs to be undertaken as the home report was still valid and in date).



21/07/18 - AIP reffered but approved

23/07/18 - Home Offer Accepted
25/07/18 - Full application and documents (including home report) sent to broker and Leeds
25/07/18 - Credit search has appeared on credit file
03/08/18 - Leeds request proof of deposit - Sent (advised this is the final document)

09/08/18 - Leeds waiting on copy of the home report to be assesed


Im confused as to why only yesterday that when my broker requested an update that leeds advised they haven't received the home report and are chasing it up, plus it needs assesed.


Now what im confused at is what stage my application is at? Has it been through underwriting.


When we submited the proof of deposit the broker advised she expected an offer through in the next 24 hours. When she phoned yesterday she asvised we would hopefully have the offer papers through on Monday.


Anyone advise?

SarahJ1973

My MA said I have an approval in principle subject to valuation.
The valuation has been done and the surveyor put the recommended purchase price as the same as my offer. No issues highlighted.

Does this mean a formal offer is definately on the way? I don't know what "final checks" mean before they issue an offer, I'm assuming credit and affordability checks have all been done. I can see Santander checked my credit report before valuation.

Such a nail biting time!