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

lmshaw

After being glued to this thread for the past week I thought I would post my timeline for Virgin Money. Although it didn't feel like it at the time, it was a relatively quick and pain free process.

Fri 28 Sept: First meeting with mortgage broker who told us to start looking at properties
Mon 1 Oct: First viewing - loved the house and knew it was "the one" immediately
Mon 2 Oct: Back to see mortgage broker, he advised us to put an offer in without DIP due to the hard search virgin do at this stage
Wed 3 Oct: Solicitor put offer in (decined), solicitor put second offer in (declined), third offer accepted!! Back to see mortgage broker, DIP done and then full application submitted immediately after. All virgin asked for was 2 months payslips and a P60
Thurs 4 Oct: Virgin confirmed receipt of application and valuation instructed
Thurs 11 Oct: Valuation carried out
Fri 12 Oct: Valuation sent to Virgin
Tues 16 Oct: Offer issued!!!!

The application took 12 calendar days from start to finish. And no one trawling through my bank statements either!! :j

winner_winner_2

28/09/2018 - DIP received
01/10/2018 - Application submitted by broker
02/10/2018 - Santander confirmed application received
05/10/2018 - Valuation completed
17/10/2018 - Offer received

luckofthe_irish

Joining up for support as I am a FTB petrified I won't get my mortgage!! I am applying for a 95% mortgage on a freehold property with Halifax.

Timeline so far:
07/10 - saw house and put offer in.
08/10 - initial offer rejected. Revised slightly and reoffered.
09/10 - offer accepted (woop).
10/10 - engaged my mortgage broker.
11/10 - interview with broker and provided ID documentation.
15/10 - decided best mortgage was with Halifax. DIP received.
16/10 - mortgage application submitted to Halifax via broker.
17/10 - Halifax came back asking for further proof of deposit as they weren't happy with online ISA statement and proof that I could cover mortgage fees as I hadn't calculated these in my deposit. I have been very lucky to have been gifted the fee by my parents so I needed them to sign a letter confirming it was a gift. All sent back to Halifax via broker.
18/10 - checked bank account and survey fees have been taken by Halifax.

Is the fact the fees have been taken a good sign?! I am not sure if this is just standard practice or if it is a positive sign!

ftbwannabe

Silian wrote: »

Thanks - and the same to you. Do you have any idea of timelines?

Edit: actually, reading your post you should know in the next day or two. Good luck!

The worst is the uncertainty. If I knew for a fact they won't lend on the property I can start my property search again. Right now my heart just isn't in it and every advert I look at I go "meh, it does not have... (mention something current choice has that wasn't even on our wish list)"

Thanks. My lender does the valuation first, and is notoriously slow, so I suspect there's at least another week of waiting, & wondering how fast asbestos can kill me ;-)
I know what you mean, I try to look at ads for other places but they aren't comparing! FIngers crossed we both get what we want (or something better). :beer:

Frankel17

Frankel17 wrote: »

Directly with Nationwide:


12/10: DIP submitted - referred to underwriters with document request for latest payslip and evidence of last 3 bonuses

15/10: Documents submitted. DIP approved.
15/10: Offer accepted

16/10: Solicitors appointed
16/10: Full application submitted to Nationwide

19/10: Valuation booked for 23/10

ironmanjason

Ok I'll jump in as well..

17/09 DIP from halifax
21/09 first viewing
01/10 second viewing
06/10 third viewing
12/10 - 15/10 offer placed and negotiation and offer acceptance.
17/10 instructed solicitor and purchased home buyer protection
19/10 mortgage dip and application submitted to nationwide

Now anxious wait time begins

novelty-socks

Hi folks! Just been pointed here after joining the 'waiting to exchange' thread. Had an offer accepted this week (after some back and forth). Just instructed a solicitor and pulling together documents for our mortgage broker this weekend.

Great seeing other people's experiences here - hoping for a smooth ride!

cherryblossomzel

cherryblossomzel wrote: »

13/10 - offer accepted
17/10 - gave my broker all the final information needed to apply for the mortgage this morning.

18/10 - spent quite a long time pulling together bank statement etc for the lender and for the solicitor. Still need to print, sign and emails back some things, but can only do that on Monday.
19/10 - surveyor was supposed to go to the flat for homebuyers report, but he's not responded to my emails and I don't know if he's been or not.

WorrierGalore

’m need of some help!

Me and my partner have applied for a mortgage with the Clydesdale Bank. The initial advice and recommendation was last Monday and that was all fine and affordability checks were fine. It had to go to an underwriter due to the stress test resulting in the affordability being an issue. The credit check person (apologies I don’t know their exact role) came back saying it was a decline. Affordability was fine, but it was the fact that we’d recently done a balance transfer each to 0% credit cards and I had recently taken a loan the month prior and they thought we were living above our means. I then explained that we only did this to lower our outgoings in preparation for the mortgage and they agreed that if we cleared 2 smaller credit cards, so just to leave 2 balance transfer cards, 1 loan and a car lease and we went for a 5 year fixed instead of a 3 years then it was approved.

The valuation has now come back and it’s all fine and the adviser has passed it to the ‘processing team’. She’s requested our last 2 payslips each, evidence of deposit and for us to complete and return the KFI and direct debit mandate. She hasn’t asked for bank statements at all, and even when I offered, she said I didn’t need to.

I’m really nervous as I’m just a natural worrier, but also we have agreed a great price for the house due to being FTB and being able to move quickly, so if Clydesdale decline us and we have to start again the we may lose the house.

What are the potential reasons we could be declinedv we’re after a 95% LTV and the deposit is a gift from my partners mum, however they haven’t asked for source of deposit, only evidence of it. Could this result in a decline?

Will this ‘processing team’ be requesting bank statements from me?

My partners last 2 payslips make it look like she’s only been there 2 months (due to her year to date earnings), but she’s actually been there a year, only 10 months of that was via an agency and she went permanent in August. I can evidence this, but I don’t know if all of these things combined will result in a decline?

Our bank statements will show is spending a lot more on food and socialising than we intend to spend once we get the mortgage, and the only reason we overspend on these things is due to the fact we don’t have a mortgage so we have the spare disposable - could this result in a decline due to them thinking we live above our means, even though this isn’t how we’d live once we have the mortgage?

Any answers to the above would be appreciated!

Bryonybee

FTB & solicitor is ready to go so just beginning to become impatient haha.

06/10 - DIP agreed
13/10- Mortgage application phone call done
16/10 - paperwork arrived
18/10 - mortgage advisor received paperwork and confirmed all was ok, took the valuation fee and sent my application to head office on 19/10.

Now just to wait 😫