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

LucasH

joanars wrote: »

Our mortgage offer was issued today! Yay! :beer::ybeer::beer:
Here's a full timeline of our application:

24.07 - AIP received from Post Office for £190k. Valid for 30 days.
24.07 - Hard search carried out by the Bank of Ireland.
18.08 - Viewed property we liked.
20.08 - We submitted our offer for the sum of £182k to estate agent and it was accepted shortly after on the same 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.
28.08 - PO came back querying two bank transactions.
29.08 - Mortgage approved subject to valuation.
31.08 - Valuation carried out together with homebuyer's survey.
03.09 - Valuation report has come back accepted and the mortgage offer was issued.

That was a lot quicker than what I was expecting it to be!! We only just received our solicitor pack in the post today! :T:T:T

When the PO queried two transactions, how did they contact you?

synavm

Finally, finally after two declined applications and two and a half months of waiting, we have an offer. Delighted!

Sanne

synavm wrote: »

Finally, finally after two declined applications and two and a half months of waiting, we have an offer. Delighted!

Congratulations!

Sanne

Sanne wrote: »

I’m re-joining - new mortgage application went in yesterday as another property had come back onto the market - same layout and size, slightly more to do (choice not condition per se), quieter location as further from main road. Had an offer accepted of £32k less than the first property so cancelled the first application.
Chain is ready to go (sale fell through 3 days before exchange) - no pressure...

To speed things up I have split the survey for my homebuyer report and the basic valuation this time, using a local surveyor - Nationwide had four weeks lead time last time! (Which was good for us - at least we have lost nothing by changing property as nothing had been done yet!)

Hoping to get the valuation appointment notification today and for the application to go through quickly.

Application put in on Thursday, still no valuation booked - last time it took less than 24 hours and Nationwide say 1 day on their intermediary website. Mortgage advisor has sent an email tonight...

LucasH

synavm wrote: »

Finally, finally after two declined applications and two and a half months of waiting, we have an offer. Delighted!

Congratulations,

After the application was declined, what process did you follow, reapply?

synavm

LucasH wrote: »

Congratulations,

After the application was declined, what process did you follow, reapply?

Well, it was with different lenders. First was Nationwide who rejected based on usage of authorised overdraft evidenced of bank statements (most recent of which at the time covered the birth of our child, so it was an extremely expensive month!), second was Natwest through a broker - which in hindsight was a poor recommendation. As I'm aware, Natwest are super flexible and easy for brokers to deal with, but if there's one thing they don't like, it's overdrafts. Broker then tried to direct me towards adverse (which was daft given our credit reports are spotless), so we sacked them off and went direct with TSB who understood our circumstances and got to offer without much trouble - it was between them and Halifax, but TSB had the better rates so we went with them.

On this site, the most common phrase is 'contact a broker', but in our case we were able to do our own research and get a result far better than the path that our broker was leading us down.

LucasH

Thank you for getting back to me. We're with a broker and when doing their comparison found Brclays so are getting the DIP/AIP today or tomorrow. My credit report is clear of defaults but on my bank statement I have final payment being made to a historical debt. (Essentially I've been clearing my feet so I have a clean slate) I'm panicking incase they come back and say no

kingstreet

Sanne wrote: »

Application put in on Thursday, still no valuation booked - last time it took less than 24 hours and Nationwide say 1 day on their intermediary website. Mortgage advisor has sent an email tonight...

The lender doesn't book the valuation.

The lender instructs the surveyor and the surveyor uses the access details provided make the booking.

So it's important you know where in the process you are. Are you awaiting valuation instruction, or are you awaiting surveyor call for access.

Sanne

kingstreet wrote: »

The lender doesn't book the valuation.

The lender instructs the surveyor and the surveyor uses the access details provided make the booking.

So it's important you know where in the process you are. Are you awaiting valuation instruction, or are you awaiting surveyor call for access.

We were awaiting instruction - all sorted now and booked for Friday.
Hoping to have a decision next week, hubby has used his authorised overdraft, not huge but hoping this doesn’t ruin it! Went through a broker but reading the above makes me nervous now!

JoshyBC

Had a few updates since i last posted

06/8 Bid accepted on property (3rd time lucky, bidding war)
08/8 Broker found & Documents sent same day.
09/8 Solicitor makes contact to send documents over, sent same day.
10/8 DIP from Platform (co op)
10/8 Hard credit check carried out with experian
12/8 Documents sent to broker.
15/8 Full application made via broker and application fee payed.
17/8 Broker sends documents which Platform ask for same day.
18/8 Conveyancing carrying out searches and fee payed.

24/08 valuation instructed by lender
30/8 Told valuation taking place 5/09
3/9 All searches come back from solicitor, then advises coal mining report.
4/9 Coal mining report comes back all good. MB asks us to resend a document we sent weeks back because it is hard to read our signatures.. hmm meh.
5/9 valuation day.

Also whilst i think of it, a hard check was carried out by platform on the 10th august. i then received an email around 20th off Experian a change to your credit report etc, i looked and the hard check has turned to a soft check, tad strange? once again good luck all