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

Vampgirl

gazfocus wrote: »

Congrats on getting the mortgage offer but I would have major concerns about exchange and completion being so far apart (granted, I don't know if this is 'the norm').

My concern would be that anything can happen in 4-6 months, you could end up on a reduced income, the mortgage market could change and you could end up having the mortgage offer pulled...absolutely anything could happen...once you've exchanged, you're legally obligated to complete whether you have a mortgage or not.

Its pretty much standard process when buying off-plan: 28 days to exchange, and then you complete "on notice" when the build is ready.

marginex

marginex wrote: »

UPDATE..
05/02 - Broker called to say evidence/documents all received ok, they have instructed valuation for this week and all looking ok so far...

Is the fact valuation being started a good sign?

Virgin Money said they sent out the request for my accountants reference to my accountant on Monday, still no sign of it!

I want my normal blood pressure back lol, this is so stressful!

kingstreet

Vampgirl wrote: »

Its pretty much standard process when buying off-plan: 28 days to exchange, and then you complete "on notice" when the build is ready.

... and normally there's a clause in the contract allowing withdrawal if unable to get a new/another mortgage if the old one runs out due to the period between exchange and completion.

plumfin

plumfin wrote: »

Can I join? I am a first time buyer so incredibly nervous!

03/01 - DIP agreed
4/01 - saw property and fell in love
08/01 - second viewing, just confirmed my feelings
09/01 - first offer rejected, second offer made
10/01 - second offer accepted!!
13/01 - app put in, payslips and ID all verified with the broker

will keep you updated.

Update solicitor expects to complete Wednesday morning, 33 days after offer accepted! Seems bizarrely wonderful!!

robdevil

robdevil wrote: »

Help To Buy and First time Buyers 95%LTV

18/01/14 Got AIP from Halifax
21/01/14 Found House
24/01/14 House Viewing
25/01/14 First offer rejected, next offer sent
27/01/14 Decided to go with asking price and accepted(love house so much)
28/01/14 EA visited and Solicitors Instructed
01/02/14 Full Application submitted and Valuation booked(Halifax)

11/02/14 Valuation date

Kca

Arghhhh application still with underwriters

Can't stop thinking about it- I just need to no that they approve
everything then I can relax, won't get full offer unroll my 1st payslip from new employer
(18th/19th fingers crossed maybe tomorow!!

Valuation was valued £5k below what I estimated but £20 k over buying price is this ok?

Thankssssssss

Newstart2014

Nightmare journey


18th Nov - view wonderful house and put offer of full price on leaving
19th Nov - Told others have also put offer in (house had only been advertised on the 15th Nov)
20th Nov - Sealed bid in. Later in day found that we got it. 6 bids in total.
22nd Nov - Start looking at brokers
27th Nov - Major operation (10 wks off work)


Broker having a hard time finding us a mortgage. Issue is that I divorced April 2013 and still on previous mortgage which had a late payment in the same month. Affordability great, no problem. As part of the divorce ex has to take me off the mortgage.


6th Jan - Told that no products around for us. I cried like a baby for 2 days. Email sent to EA. But I just couldn't give up and found another broker. Luckily EA was off ill so hadn't seen email

7th Jan - Submitted papers to Family Court as I now need to force the issue


8th Jan - DIP agreed with Woolwich
10th Jan - Full Application and forwarded to senior underwriters as over £500k
29th Jan Valuation completed
4th Feb - all good, offer on the way
6th Feb - received offer but then see in T&C's I need to be off previous mortgage. Broker going to speak to Woolwich armed with my consent order from divorce, a declaration of trust which states I have no liability (drawn up by lawyers) to the property, and letter from family court, with court date (12th March, a week after we need to complete)


Ex has informed me he's going through a re-mortgage, and will check with broker on the process ????? shows his commitment


We had been prepared to exchange on Monday, and complete on the 4th March. Do we still go ahead? If it all goes to the dogs, I'll loose the house, but will make sure that my old house is sold, and my deposit taken from the equity (I'll stop at nothing to make sure this happens).


What's the chances that Woolwich will change the offer and remove as a T&C ???


I have a 15 yr daughter and someone who loves me and I just want a fresh start and a good life for us all. From the stress of my operation and all this I can't think straight.

pcd87

I am going to join this

Went to see the property - 05/12/13
Offer made - 07/02/14

The previous owners have seperated! 1 party has accepted waiting to hear from the other... very nervous!!

gazfocus

gazfocus wrote: »

05/01/2014 - Saw house on Rightmove and fell in love.
11/01/2014 - Viewed house and loved it even more (only needed the one viewing really).
11/01/2014 - First offer made on house.
15/01/2014 - First offer rejected.
15/01/2014 - Second offer accepted.
15/01/2014 - Got AIP from Natwest for £7k more than needed.
16/01/2014 - Instructed Solicitors.
21/01/2014 - Received Memorandum of Sale from EA.
21/01/2014 - Full Mortgage Application Submitted via IFA.
21/01/2014 - Valuation Fee Paid.
21/01/2014 - Valuation booked for Friday 24th January.
27/01/2014 - Valuation came back ok
27/01/2014 - Halifax have requested 3 payslips for me. MA to submit.
28/01/2014 - MORTGAGE OFFER ISSUED (trying not to hurt myself as I bounce off the walls lol). Cannot believe it's only taken a week.
29/01/2014 - Mortgage Offer received in the post (solicitor also received Mortgage Offer today).

Small update:

03/02/2014 - Have to go back to Halifax to have requirement for current mortgage to be repaid taken off the offer as we're renting out our current house on completion.
05/02/2014 - Ammended mortgage offer issues by Halifax.
05/02/2014 - Current house advertised to let on Facebook.
06/02/2014 - Email from solicitor confirming receipt of satisfactory replies from sellers to her queries and confirmed just waiting for searches to come back.

Kca

Still waiting to hear from the underwriters it went to them on Wednesday, I was told i should hear by today worse case senario Monday! Should I call or not arghhh????

The wait is killing me