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

jaelato1

Tufa wrote: »

09/08 Mortgage offer issued!

Congrats!:beer:

jaelato1

Lizzielou1205 wrote: »

Second time buyer. Buying property alone, and also waiting on ex's mortgage approval to buy me out! 95% LTV with no credit issues.

Some time in July - DIP from Lloyd's
28/07 - offer made
31/07 - offer accepted
4/08 - spoke to broker and DIP requested with Digitial Mortgages
7/08 - DIP declined because of 3 addresses in last 3 years!
9/08 - DIP received from post office
10/08 - valuation fee paid
10/08 - underwriter saying credit file shows credit not on application, confirmed to broker there is nothing I didn't disclose (existing mortgage, car lease and £50 overdraft!)

All very stressful and added stress of waiting for ex to be approved too.

First time hearing that, I think the lender must be one of the picky ones

Could the undisclosed credit be car insurance - if you monthly then you probably have a credit account opened from the car insurance lender on your file, only thing I can think of.

liviboy

Update:

09/06/18 - Viewed property - verbal offer made.
10/06/18 - Decision in Principle received.
11/06/18 - Formal offer made - offer accepted in principle. Estate agent instructed on the marketing and sale of our house.
13/06/18 - Estate agent measured our property, home report instructed and a few other bits and pieces. Negotiation with solicitor regarding included items in sale of new property.
14/06/18 - Full mortgage application made (Nationwide). Home report and survey carried out on my current house. Documents requested from Nationwide: Last payslip and proof of wife's bonus - both submitted electronically. Valuation booked for 15/06/18.
15/06/18 - Valuation received and under review.
18/06/18 - Application "passed for full assessment". Guessing it's just a waiting game now?
20/06/18 - 2 Decision in Principle - Decline notifications on the tracker - called up and they are questioning items on both my and my wife's payslips. Info provided over the phone and e-mailed in April's payslip.
21/06/18 - Called Nationwide to check if any further info required. Told no at the moment but documents would only be reviewed after Tuesday..another long weekend wait!!! Certainly not as smooth as 2014 when we were FTBs!!
27/06/18 - Verbal offer made on our current property - accepted.
28/06/19 - Written offer received.
28/06/18 - Another Decline - called up and got it all figured out...full story here: https://forums.moneysavingexpert.com/showpost.php?p=74469916&postcount=6
28/06/18 - Decision in Principle - Accept, Offer Generated!
04/07/18 - Offer received in post

13/08/18 - Funds sent to solicitor for their fees, LBTT, estate agent fees and estate factor fees.
14/08/18 - Missives concluded on sale.
14/08/18 - Missives concluded on purchase.
14/08/18 - Text from Nationwide: “Nationwide here. Funds will be sent on 16/08/2018. If you're moving, this may be a day or so before you move. Other applications complete on this day.”

Date of entry still set for Friday (17/08/18) so hoping all goes well.

Fee-bee

Hi all.. joining in here.

First time buyer and finding it awful!!

10/7 offer accepted
10/7 DIP
18/7 paid for home buyers report and valuation booked
19/7 solicitors who we are using through MA wrote to us to sign a declaration that we are ok to use the same solicitors as the vendor (is a different solicitor)
20/7 all documents submitted for mortgage through MA
3/8 valuation completed and survey took place
6/8 valuation report received undervalued 5k
7/8 new DIP with Santander
9/8 2nd valuation took place

Currently still waiting for result of that! Has anyone used Santander? Wondering if anyone has any ideas of time scales etc? !!!55357;!!!56876;
We expected to have the result of valuation today but still nothing!! Thanks in advance

laurenlel

I'm currently in the process of getting a mortgage. I've got my DIP, and i've got an appointment next week at a HSBC branch to complete the full application. Do you have to have a valuation done through the lender or is that an option? I was under the impression that any surverys that needed doing are done through the solicitor?

~shoozy~

Quick update:
25/07 DIP received from Nationwide
28/07 Reservation fee paid to builder
31/07 Full application submitted to Nationwide
01/08 Help to Buy application submitted
08/08 HTB declined due to my DIP being for more than the price of the house, therefore I can afford the house without the need for HTB.
13/08 Full application submitted to Clydesdale
14/08 Proof of deposit requested and sent
15/08 Valuation fee paid to Clydesdale

Keeping everything crossed for good news.

Silly question but I've paid £500 reservation fee, and expected to pay another £500 on signing the missives, does this £1000 come off the price of the house, or off the deposit to be paid?

Teamocil

Teamocil wrote: »

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?

Nobody reassured me :undecided

Anyway, the application is now in with Barclays. The mortgage is only £90,000 and a little less than 3x salary so I'm hoping it's considered a low risk, even with the other debts I'm carrying.

jaelato1

Teamocil wrote: »

Nobody reassured me :undecided

Anyway, the application is now in with Barclays. The mortgage is only £90,000 and a little less than 3x salary so I'm hoping it's considered a low risk, even with the other debts I'm carrying.

I think you should be fine provided you don't have anything in your credit history that can make the alarm go off.

Scott87

Had a rubbish experience with YBS even though they did put an offer on the table of £180k in the end. Less than what the DIP was.. Grateful for the offer but not a great experience and waited nearly 7 weeks for a decision.

Now applied with Leeds building society and really hope to get a better offer. Full application went in yesterday.

Looking at 95% LTV but could increase my deposit to 10%.

Teamocil

jaelato1 wrote: »

I think you should be fine provided you don't have anything in your credit history that can make the alarm go off.

I've never missed any kind of payment so hopefully nothing horrible there.

BUT, I've just realised that I have some betting from four months ago on a statement. tbh I can't remember why I sent the broker four months rather than three, so hopefully they were bright enough to only provide the three statements and therefore not the fourth with the betting on it. If they have submitted that, then I guess it's getting turned down and I'll get a new broker. What am I paying them for if not to spot my silly mistakes?