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

Silian

scotgal30 wrote: »

10/10/18 - mortgage offer received!! :T :j

Congratulations!! You must be so relieved.:beer:

Craigzeh

16/09/18 - Seen Property
17/09/18 - AIP approved from Halifax
18/09/18 - Offer submitted on house
19/09/18 - Offer declined
20/09/18 - Revised offer submitted
20/09/18 - Offer accepted
20/09/18 - Halifax Mortgage application submitted.
25/09/18 - Halifax Formal Mortgage offer sent out.
27/09/18 - Formal Offer received to myself and Solicitor.
10/10/18 - Missives concluded and everything sorted.

Now just the wait, roll on 9/11/2018!!

shane4949

8/9/18 - Property reserved (New build)
13/9/18 - HTB application submitted
18/9/18 - HTB officer asked to confirm some information in my application and relied them immediately.
20/9/18 - ATP received
1/10/18 - Full application submitted to Halifax via broker and valuation booked on 5/10/18 (Friday)
5/10/18 - call from seller office saying that the valuation has been done
8/10/18 - update from broker saying that the valuation is done and the lender is doing the final check before signing off, and very likely to get the approval on Wednesday (10/10/18)
10/10/18 - Broker confirmed that the mortgage has been approved and sent me the electronic copy of formal offer (dated 9/10/18).
11/10/18 - formal offer received in post.

Very impressed with Halifax efficiency given that I am a visa holder with HTB and it took just five working days from application to approval.

I had been very nervous as Halifax is the only lender who would consider my application (5% deposit plus non EEA nationals). First local mortgage advisor (recommended by seller, excellent review on trustpilot for bad credit) refused to help. He firstly helped me to obtain AIP from Santander (strangely as I knew I am not qualified for their mortgage) and two days later he told me he couldn't help to get me a mortgage from either Santander and Halifax. My world was turned upside down. Then, I went back to an online MA who I firstly spoken to before appointing the local MA. They weren't appointed in the first place because the seller (a sales lady) thought they are just unknown robot (which I strongly believe not!) Online MAs are extremely helpful in answering my questions and happy to help me to proceed the full application. Such a relief!

Wish you all good luck and do not give up your hope!!!

cherryblossomzel

Can I join? Just got a call from the EA that my offer was accepted and the property will be taken off the market. Next step - have a chat with my broker, and solicitor.

mouthscradle

We've now applied for our mortgage, so putting my timeline in (if I can remember it :think:):

10/09/18 - Viewed house
18/09/18 - Increased offer finally accepted after some to-ing and fro-ing
24/09/18 - Started new job! Applied for proof of salary letter from HR
04/10/18 - Salary letter received, phoned First Direct to do initial part of application. Made appointment for full application phone call. Uploaded payslips and salary letter as requested
10/10/18 - Full mortgage application phone call
11/10/18 - Mortgage Key Facts received by email. Phoned to pay booking fee. Our independent Homebuyers survey carried out.
12/10/18 - Told valuation booked in for 16/10/18.

So far so good!

MERFE

Received our formal mortgage offer from Santander today, I know someone else was also waiting for Santander. It's taken so long.

1/09/18 reserved new build
11/09/18 mortgage application went in
20/09/18 request for tax credit award notice
26/09/18 HTB authority to proceed received
28/09/18 Valuation took place
9/10/18 Chased up with broker who advised at some point they had to resend the CML, something to do with the incentives not being acceptable
15/10/18 formal mortgage offer received.

ftbwannabe

ftbwannabe wrote: »

Tiny update: a valuation was instructed, & booked, the same day that we had our DIP. That valuation is happening tomorrow. I’m assuming the underwriter won’t start until after a successful valuation, so still expecting a few weeks (or more) until full mortgage decision.

Update: no firm news, just fuel for worry:
Had a copy of the valuation report direct from the surveyors, & they are recommending a small-but-unaffordable retention. We won't be able to afford this place unless we get the full 95% mortgage up front. Need to wait to hear what the lender actually offers, which I guess will still be a week or more. Feels like the time-frame should move up now I am expecting bad news, but I suppose the underwriting process will take as long as it would if the valuation was 100% positive?
Have been pretty good at not being stressed up until this point, but it's caught up with me now. Really want this place, & hope the seller will be helpful if there are any retentions in final mortgage offer.

ftbwannabe

ftbwannabe wrote: »

Update: no firm news, just fuel for worry:
Had a copy of the valuation report direct from the surveyors, & they are recommending a small-but-unaffordable retention. We won't be able to afford this place unless we get the full 95% mortgage up front. Need to wait to hear what the lender actually offers, which I guess will still be a week or more. Feels like the time-frame should move up now I am expecting bad news, but I suppose the underwriting process will take as long as it would if the valuation was 100% positive?
Have been pretty good at not being stressed up until this point, but it's caught up with me now. Really want this place, & hope the seller will be helpful if there are any retentions in final mortgage offer.

Question about credit card borrowing after mortgage offer received: I'm so trained to not use credit in advance of applying for mortgage, but I guess it won't affect the offer on the table if we spend afterwards?
I'm thinking worst-case, need-cash-now scenario, if due to a mortgage retention we end up 4k short of the house price & sellers won't accept a lower offer, we could use a money-transfer from a credit card to get that 4k. Then we complete on the house, complete the works, get the 4k back from retention, pay credit card. We'd be out of pocket for the money-transfer fee, but not out of the game as far as completing on the house. Not my ideal scenario, but do-able? Any obvious 'that's a stupid idea' risks you guys can see?
I guess I'm just killing time thinking up new ways to get in debt...

ftbwannabe

Congrats! Nice to hear good news :T

ritz55

ftbwannabe wrote: »

Question about credit card borrowing after mortgage offer received: I'm so trained to not use credit in advance of applying for mortgage, but I guess it won't affect the offer on the table if we spend afterwards?
I'm thinking worst-case, need-cash-now scenario, if due to a mortgage retention we end up 4k short of the house price & sellers won't accept a lower offer, we could use a money-transfer from a credit card to get that 4k. Then we complete on the house, complete the works, get the 4k back from retention, pay credit card. We'd be out of pocket for the money-transfer fee, but not out of the game as far as completing on the house. Not my ideal scenario, but do-able? Any obvious 'that's a stupid idea' risks you guys can see?
I guess I'm just killing time thinking up new ways to get in debt...

So lender does a credit check just before completion, notices you've borrowed the 4k and pulls the mortgage as a result. Happens a lot and then you loose the deposit you put down for exchange as well.