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

Sib2018

Just been there with natwest was with underwriters then the nail biting call that it had been approved.

Jesslb

I know the feeling. Our valuation was don't over a week ago! Been toing and frowing with documents to Halifax. Still no decision yet! Should have had it last week!

joanars

Hi All,

I decided to join the club.
FTB here, our timeline is as follows:

24.07 - AIP received via Post Bank for £190k (although we can borrow more). Valid for 30 days.
24.07 - Hard search carried out by the bank of Ireland.
18.08 - Viewed property we liked.
20.08 - Offer for £182k (95% LTV) submitted and accepted in the morning.
20.08 - Contacted MA and instructed solicitor.
21.08 - Full mortgage application submitted. Money for valuation and homeburyers survey taken from bank account, but on hold until the mortgage passes finance and credit checks.
22.08 - Solicitor had to be changed as he was not on the PO panel.
23.08 - New solicitor instructed but on hold until we get the mortgage agreed.
23.08 - Soft credit check carried out by the bank of Ireland.
24.08 - Still haven't heard anything, our MA is currently on A/L until Tuesday but promised to keep us updated via email.

I'm confused as to why did they carried out hard search for the AIP? I thought this is done when full application is submitted.

The waiting is killing me!!! I'm so nervous that we will get rejected.

Both of our credit reports show Excellent on experian, We don't have any loans, only credit cards with relatively low balance that is paid in full every month. We also don't pay any finance, our car was paid in cash 2 years ago. All bills are direct debit, utilities are always in credit balance on our accounts. We don't have children, both relatively young (28 years old). Joint income circa £51k. Hopefully everything will go smoothly but I just can't stop worrying :j:j:j

Southernman

Southernman wrote: »

I'm applying through Natwest via a broker.
15/08- offer accepted
16/08 - argy bargy as the property was on with 2 estate agents and the vendor refused to take it down with the other EA and was still accepting viewings. As the condition of the offer was to remove from both EAs i went ape and threatened to withdraw my offer. He did what i said then but demanded i had a mortgage valuation the next week.
17/08- Application has been submitted and valuation confirmed for Tuesday of the next week. Vendor got his wish.
21/08- valuation completed. Natwest need proof of my ID, potentially because i got married and have 2 names depending on where you look.

That's where we stand now. Whilst i think so far has been quite quick, i'm still nervous. My last mortgage application was 7.5 years ago!

So from the 21-24th we have been tooing and froing with the underwriters about my ID. I always assumed the main issues would be credit checks and affordability, not the issue of my maiden to married name!

My passport is in maiden, my bank statements in married but with a marriage certificate you would think it was simple. No. The application got escalated for a second opinion.

Thankfully, after all that drama and the broker being absolutely on it. (ACG who posts on here if you're interested) we now have our offer.

We only used a broker because i am new in my job and also have a second mortgage in the background. So glad i did. There was no way i could have spent all that time on the phone talking to underwriters whilst working full time. Got a funky 1.94% deal on a 5 year fixed too!

Mattmuzz

Mattmuzz wrote: »

10th August - Called up to ask if there was any progress, was told they needed 2 more payslips to confirm my weekend enhancements were regular, uploaded these the same day.

15th August - Called up against to check if anything had happened, was told out mortgage has been approved my underwriters :j:j wooooooooo

Now we are apparently waiting for the mortgage accounts team to call us up and set up the smaller details whatever that means, seems I have to ring First Direct a lot to push updates but hey ho, getting there! We are still awaiting the report from our solicitor which is on holiday next week so this looks like it is being delayed and we are getting pressure from the estate agent!

Good luck everyone :beer:

Mortgage documents received via email on 22nd (Wednesday) and now our solicitor has apparently raised enquiries to the sellers, not 100% sure what that means but as long as something is happening!


Will be withdrawing our Lifetime ISA money next week so hopefully that is a fast turnaround, all feels very close now!

Loobear5

Had our valuation done this week with Halifax and all has gone smoothly so far, then had an email to ask for bank statements showing my pay going into my account as my pay slips have our house number as 8 instead of 80 and i never noticed this before! Typical! Back to waiting agsin now, will this stress ever end!

MichaelMe

Hi guys...

I’m a little late to the party as was approved just over a month ago. However thought I would share the journey briefly.

Went with Barclays. I have to say it all went quite smoothly, mostly!

I went to them directly in branch and took all the required, original documents. I do bank with them so they didn’t require any bank statements.

Just the usual last 3 payslips and latest P60. ID documents, solicitor, property and estate agent details.

From the very first appointment on 3rd July, no further documents were requested. Valuation took place and was approved on 18th July. I was pleasantly surprised.

Although as mentioned above, a large part of why it went through so quick is because I bank with them. So they would have had access to all of my financial details, which can speed things up.

I have in the past applied through other lenders. Most notably Santander who were not very organised I must say. Also went through nationwide who were so so. Easy and simple to apply online but poor communication back in a lot of ways, I won’t go into.

Still, wish you guys the best going forward. I will be back shortly with real time updates as planning to do a BTL in the coming months!

hh1995

Hi,


I am also waiting to hear back from HSBC. They are valuing the property today before having accepted us 100%. Is this normal practice? How far have you come with them now?

~shoozy~

~shoozy~ wrote: »

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.

I chased my broker last week for an update and was advised that the application was ready to go to the underwriters on Wednesday (22nd) and I should hear something next week.
Fast forward to today and I have been told I should hear news later today. The property is still to have the valuation done on it so potentially it could still be weeks before I get the decision.

It seems the application has been sat on someone's desk from the 13th Aug until the 22nd

I've been chasing and chasing but no one at Clydesdale seems to be in a hurry.

The house is due to be finished by the end Sept, is it likely that the builder will wait for me to get the mortgage offer?

joanars

We have received response from the Post Office querying two transactions on my bank statement (one of them was our monthly rent - SO). No further documents requested at this point. Still awaiting final decision. :T