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

RelievedSheff

I just thought I would share our experience with Kensington.

We found the new build home of our dream and reserved it 9th March. We got a DIP from Magellan on 11th March and then went to pay the full holding deposit on our new house on the 16th March.

As we were placing the deposit Magellan announced that they were no longer lending so on 19th March our mortgage advisor got us a DIP from Kensington. The following are the dates from the Kensington timeline.

DIP 19.03.19
Full application 21.03.19
Valuation 26.03.19
Offer 01.04.19

We are over the moon as we had read so many horror stories about how long Kensington can take with their applications. We are now looking to complete on 18.04.19 and be into our new home in time for Easter, just.

lumpyspaceprincess

Damp and timber report in today and uploaded to Kensington, broker says SLA of 2 days to decision. There's work that'll need doing but hopefully it'll just be a condition as we're buying quite a bit under the value of the houses on the road.

latte19

Natwest - fingers crossed..

2nd March - viewed house
4th - made offer but didn’t have mortgage in place
20th - met with adviser
21st - mortgage refused due to bad credit (I have 2 other mortgages and never missed a payment yet. Due still linked to a bad account via ex husband)
26th - Experian score went from fair to good
27th - mortgage in principle approved
1st - wanted clearer payslips (my stupid printer faded them). They also might have to contact HMRC as they don’t understand them correctly ��
2nd - NatWest asking for letter explaining the bad account / bereavement affecting this

Finding this all very stressful to be honest.

Fingers crossed for everyone waiting!

MycreditscoreisWHAT

After a complete nightmare with NatWest (been a customer for 17 years, no bad credit history, £100k deposit (30%) and high salary (£70k) and was declined due to a default from British Gas from a property I moved out of)

I went to Clydesdale on Monday, credit search the same day, valuation booked for Monday. They’ve confirmed that they manually underwrite so it’ll take longer but there won’t be a ‘computer says no’ reactions.

jester212

Hi All,
My experience of BoS (Halifax) Mortgages as follows:
24/02/2019 - View already completed new build with Barratt homes, secure with £500 deposit.
25/02/2019 - AIP Accepted.
26/02/2019 - Wait for Barratt to completed home report on Part-Ex and Scottish Government to agree the sale as part ex home was part of the lift scheme.
07/03/2019 - Valuation Survey completed.
08/03/2019 - Mortgage offer issued.
25/03/2019 - Missives completed
29/03/2019 - Keys collected!!!

I must say that the whole mortgage application process was extremely straightforward and simple, i myself am a 1st time buyer but my partner has already had property. I had reservations and fear but at no point was any part of our application questioned or further checks needed. Basically supplied our 3 previous months pay slips and outgoings and that was it.

abs56d

Posting this to hopefully calm my nerves!
Single application, going through a broker.

18-03-2019 AIP with TSB, instantly rejected (broker said it might be because of my mobile phone default and limited credit history, he was surprised as was I)
20-03-2019 AIP with Santander Accepted
02-03-2019 Full mortgage application submitted
02-03-2019 Valuation Instructed (normal for Santander to do so immediately)
03-03-2019 Noticed hard check on Experian

Now just waiting _pale_

Good luck everyone, including me!

PrincessNemmie

Got offered a house from extended family, we are FTBs... timeline looks like this:

Nov18 - AIP with Barclays
Nov18 - discover can't find DH passport - or any ID, report lost, apply for Birth Certificate and all other gubbins for the passport.
Jan19 - finally get passport sent off for.
Feb19 - Passport arrives
17/3 - get DH to finally make the appointment with Barclays.
1/4 - Attend appointment, instant approval (pending valuation) - think it's an April fool haha!
5/4 - Valuation to happen

I'm now sat worrying that what we are buying it for, well what we are offered, will be higher than the valuation. Nothing has been sold in that area for about 12 years, and we know it needs work doing to it. (offered 80k, 3-bed terrace in Lancs, needs rewiring but we are a family of tradespeople) the last house of same size/build etc (same block just further down the street) sold for £80k 12 years ago...

I can't remember the last time I felt this nervous. Just want to know if we have a home.

latte19

Update, the mortgage will be approved (just pending a payslip formality) ��

The bad news is that the valuation has come back with a damp reading and a woodworm assessment needs carried out.

So either the seller now needs to either fix this, or reduce the house price ��

FTBPessimist

Hi All,

In the same boat as a lot of you and are hoping that posting here will help alleviate some of the stress (doubt it, as the name suggests, I’m a complete pessimist)!

Here’s my timetime:

20/3 - viewed property
23/3 - met with broker to discuss finances
23/3 - DiP with Post Office for over three times more than we are looking to lend
28/3 - offer on property accepted after a few back and forths
3/4 - full mortgage application in via broker (all documents e.g. payslips, bank statements etc. taken at the same time)
4/4 - further credit search by lender (update on the previous hard check as still within 30 days)

And now we wait...

Completely terrified that we will be rejected with the application. OH has some outstanding debt on a credit card (approx. £600) although pays off more than the minimum every month. The problem is, it was used directly before we found our place and so it might look bad as it’s fresh (we simply paid off the remaining balance of our upcoming holiday for convenience as we never expected to find a place so soon). I’m worried this will be viewed negatively as well as he also has an overdraft of £400 on an account he longer uses (again, can easily pay it off but never expected to be buying so soon). Broker doesn’t seem to be bothered at all by any of this but I can’t stop myself from panicking!

Let’s hope things move fast as my nerves can’t take it... buying in Scotland so don’t need to wait for valuation as home report was generated in the last 3 months so hoping that will speed things up!

Good luck to all of you who are also waiting!

Embkrip

We had an agreement in principle with them then after we paid the 410 for the valuation and that was carried out we were declined due to failed direct payment in January for car insurance. This was due to the policy automatically renewing and taking ut on a different date. Our broke has appealed this does anyone know if we stand any chance of getting this overturned?