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

Ashers92

Ashers92 wrote: »

Time to join the mix on this after two years of hard saving!

My girlfriend and I, both FTBs, purchasing a new build 2 bed, as shared ownership.

August - Noticed some shared ownership properties popping up on a new development in the area so decided to check them out.
September - Contacted the Housing Association to make enquires and show interest
October - Working in India for a month. Not much happened. Kept pestering for viewings. Put back and back for 'safe access' to site.

06/11 - We finally had a formal viewing of the property. Having took it upon ourselves to visit the property numerous times beforehand, we had a pretty good idea of what to expect and how we wished to proceed. But it was good to actually get inside and see it properly. Offered first refusal to reserve at conclusion of viewing. 24hrs given to confirm.
07/11 - Reservation of the property with deposit payment
08/11 - Reservation forms returned
13/11 - Solicitors instructed
14/11 - Memorandum of Sale issued to all parties
20/11 - Informed draft contract papers will be received by end of week, latest
20/11 - PM - Second meeting with broker, docs handed over for full application with Nationwide
21/11 - AM - Mortgage application completed. Text received to confirm
21/11 - PM - Valuation instructed

Housing Association want exchange within 28 days, so I'm holding out hope that we can complete before Christmas!

Ashers92 wrote: »

23/11 - Text and email received stating valuation booked for 05/12.
Starting to think completion before Xmas is not going to happen.

Forgot about this, but had good news whilst on holiday last week.
The valuation took place as planned on the 5th, Nationwide were happy with it and we had the Mortgage Offer on December 7th, with the email coming through not long after I had proposed to my girlfriend under the Brooklyn Bridge! So all in all, very happy!

Just waiting on the solicitors to do their bit now and we should be in around mid-January :j

claireda

We had a really good experience with nationwide and received an offer very quickly in September.
We are buying a part exchange property bought by builders. Contracts exchanged in November and we are expecting to complete Tuesday.
Had a really positive experience with nationwide.... still worrying though just in case anything happens before Tuesday. Started reading about offers being withdrawn after exchange

Berriemarie17592

EyeonthePrize wrote: »

During my mortgage application I have found this forum very useful. I am a natural worrier and being able to read other people’s timelines has helped to keep me calm while waiting for my mortgage. So thought I would add my timeline

Nov 26 Offered on property and accepted
Nov 26 Mortgage API from Coventry
Dec 1 Declined by Coventry (due to non standard construction):eek:
Dec 3 New application made to Nationwide AIP given
Dec 5 Documents requested and submitted
Dec6. Scottish Single Survey submitted from Homebuyers report. This means a valuation is not required.
Dec 14 Mortgage offer received via text :j

So overall less than the 10 working day average quoted by Nationwide however it felt much longer! The decline by Coventry was very unexpected and really made me nervous. In total it’s been 3 weeks since I had my offer accepted and each day has been consumed with worries about being declined. So relieved to know that I will definitely be moving.

Good luck to all those waiting - hope you have good news soon.

Same thing happened to us with Coventry! We are also buying non standard construction and were so shocked when we got declined from them - their reason was because it was steel framed ! Yet they knew this from day 1. They shouldn’t say they I’ll lend on the them if they won’t!

Anyway good luck with the house move! Lovely present for Xmas! X

tomble22

Currently have an application in with Accord Mortgages (current YBS customer) so thought i would update on our timeline. We are 3rd time buyers moving to a new build.

27/11 - DIP received
28/11 - Full application made
30/11 - Request for further information due to wife on maternity leave
03/12 - Valuation instructed
07/12 - Valuation completed
13/12 - Update to say final underwriting checks being carried out

Just waiting for final confirmation that an offer has been issued, hoping for something before Christmas!!

woofdonkey

Santander self employed mortgage application

30 Oct - Application submitted
31 Oct - Bounced back for documents
05 Nov - Santander increased product fee by £500
12 Nov - Documents supplied
13 Nov - Valuation instructed
15 Nov - Bounced back for documents
15 Nov - Documents supplied
15 Nov - Bounced back second time
16 Nov - Documents supplied
19 Nov - Chased
20 Nov - Letter 1 supplied
21 Nov - Chased again
22 Nov - Letter 2 requested
26 Nov - Letter 2 supplied
27 Nov - Bounced back - letter 2 is not long enough, they want letter 3
27 Nov - Letter 3 supplied.
29 Nov - Dropped amount they will lend by £30k, no reason
29 Nov - Back to underwriting queue
05 Dec - Chased
06 Dec - Getting seriously fed up, asked broker to escalate
07 Dec - Business manager admits the application has been lost for the last 8 days. Apologises and promises an answer today. But underwriter puts it back in underwriting queue for 2-3 more days for "missing" info provided 3 weeks ago
10 Dec - Promised a decision by business manager, again no decision came

Asked for broker to delete the application at this stage. Found out a week later Santander were still working on it! They also did a valuation that the broker didn't tell us about when we asked. Very odd.

So we're now trying Kensington with a new broker:

11 Dec - Application went in
13 Dec - Requested documents and info, asked when we wanted valuation doing
14 Dec - Kensington confirmed documents received
17 Dec - Broker rang to check all OK & instructed valuation
18 Dec - Valuation carried out

More waiting now, but the difference so far is night and day...

Didymus

Emywoo84 wrote: »

I'll join! We've not been waiting long at all so far, but I'm still a very nervous first time buyer!

Our timeline so far -
21/11 - AIP from Halifax
22/11 - made offer on first property
10/12 - offer rejected on first property
12/12 - viewed 'the one' and put in an offer. Estate agents came back saying the vendor was hoping for a bit more. Offered £3000 more with the proviso that the property was removed from the market immediately. Offer accepted half an hour later and property marked as 'Sold STC'.
12/12 evening - Made full application over the phone with Halifax mortgage advisor. Passed credit checks, valuation fee taken.
13/12 - upload requested proof of income (3 payslips each as my partner earns commission and I earn a shift allowance for working nights and weekends, and CMS letter to prove nominal maintenance from ex husband).
14/12 - call from Halifax as notes have gone on about our payslips. They noticed additional income (holiday pay) and wanted to confirm whether this was included in annual salary. Advisor tells us at the same time that valuation booked for 17/12 and all is looking very good as affordability well within (we're borrowing £229000 and they are willing to lend up to £330000), credit checks all fine and just waiting on valuation.

So now, we wait!

Had the valuation on Monday 17th, notes uploaded by surveyor that same night saying valuation ok, subject to current tenant moving out before mortgage starts.

18/12/18 - advisor emailed to say he had sent off the valuation etc for final review from underwriters.

One step closer, but still very nervous!

zozo1992

Emywoo84 wrote: »

I'll join! We've not been waiting long at all so far, but I'm still a very nervous first time buyer!

Our timeline so far -
21/11 - AIP from Halifax
22/11 - made offer on first property
10/12 - offer rejected on first property
12/12 - viewed 'the one' and put in an offer. Estate agents came back saying the vendor was hoping for a bit more. Offered £3000 more with the proviso that the property was removed from the market immediately. Offer accepted half an hour later and property marked as 'Sold STC'.
12/12 evening - Made full application over the phone with Halifax mortgage advisor. Passed credit checks, valuation fee taken.
13/12 - upload requested proof of income (3 payslips each as my partner earns commission and I earn a shift allowance for working nights and weekends, and CMS letter to prove nominal maintenance from ex husband).
14/12 - call from Halifax as notes have gone on about our payslips. They noticed additional income (holiday pay) and wanted to confirm whether this was included in annual salary. Advisor tells us at the same time that valuation booked for 17/12 and all is looking very good as affordability well within (we're borrowing £229000 and they are willing to lend up to £330000), credit checks all fine and just waiting on valuation.

So now, we wait!

Congrats, if I may ask how much was salary/combined salary? Want to compare to the willing to lend up to 330K as a multiply.

Thank you!

Didymus

Combined salary is around £70,000. Hope that helps!

Didymus

Emywoo84 wrote: »

Had the valuation on Monday 17th, notes uploaded by surveyor that same night saying valuation ok, subject to current tenant moving out before mortgage starts.

18/12/18 - advisor emailed to say he had sent off the valuation etc for final review from underwriters.

One step closer, but still very nervous!

Called this morning as we're both on a day off, so thought it would be a good time to sort any final docs etc if required. The person on the phone (not our advisor) had a look at the file and said the underwriters have put notes on saying that there were a few things the mortgage advisor needed to do before the stop was removed and it could go to offer. She said there was nothing we needed to do or provide and it was all generic final stuff the mortgage advisor had to do before an offer could be issued. She said she couldn't see anything alarming that would stop it going to offer. Does this all sound normal? This is all new to us and still convinced something is going to go wrong!

RhiannonEmily

Just thought I'd add to the post as I've been reading this thread endlessly for the last 24 hours.


Friday 14th offer accepted
Monday 17th broker sent all our documents and application to Santander
Wednesday 19th Valuation
Thursday 20th (today) got an email from Santander saying offer was accepted!


Assuming the actual offer is coming in the post. Can't believe how quick it was. We're FTB with a good credit score (but haven't particularly used credit so was a little nervous). Having a broker definitely made it easier for us though. Guess we'll just have to wait for the mortgage offer in the post and for the solicitors to do their bit.