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

latte19

Just depends on the bank. It was fairly recent which isn’t good but these things happen to us all. If an explanation is given and there is nothing else problematic then I don’t see why not. Good luck

Embkrip

Thank you. In the meantime the house we were after has been sold to someone with a higher offer even though they accepted ours is that even allowed?

abs56d

It is allowed unfortunately, it's called gazumping.

Embkrip

That seems unfair. We are now with thistle finance to see if they can help

IcePigeon

I’ve stalked this thread endlessly for the past 2 months to get an idea of timescales etc so wanted to add in my timeline thus far.

13th March - First Viewing
16th March - Second Viewing
18th March - Offer accepted
20th March - DiP from Nationwide
29th March - Full application submitted
11th April - Valuation took place this morning and mortgage offer sent via text in the evening.

Written down like that makes it seem very straightforward but it’s been a stressful time as a FTB and was worried about the valuation as had heard a lot about down valuations etc!

Just the full survey to go now and then waiting to exchange!

lumpyspaceprincess

10/04 We got the valuation back finally, with a retention due to the work needed.

11/04 Negotiated a discount on the price, will make the rest up from the deposit (as ltv means less req. now) Case going back to Kensington underwriters, should know about the offer in the next few days & the revised memorandum of sale.

jasperconran

I am gonna join in as this stress is doing my head in!

we are currently going through a mortgage with kensington and its been very stressful I must say lol. We are on week 4 (I cannot include 2 weeks as we were waiting for tax overviews etc) and we are almost there!! so frustrating as my hubby earns flipping well!! underwriters ,we are told, have to just check figures (even though accounts were accepted!!) and we are now waiting in the queue as it were lol. we were due to exchange in about two weeks time and really want kensington to hurry up! as no survey been done yet!

I swear I am never moving again lol!

Nutella18

Thought I would join in. Situation in Scotland a single applicant borrowing at my max amount. Halifax 10% Deposit. Restricted to certain lenders as house is of non-standard construction.

DIP-28th March(thur)

Full Application-1st of April (mon)

Valuation is back fine(in Scotland) so just verifying the home report - 3rd April (wed)

Halifax come back as I am short 1.7k on borrow amount as they can’t verify my bonus, suggested to MA if my April rise would count...employment ref requested -4th April

Reference sent -5th April(fri)

Halifax come back saying no regency sent (it was) Apr 8th (mon)

Amended reference sent Tue Apri 9th (tue)

Halifax come back as it was not addressed as to Halifax, new one sent same day Wed Apr 10th

Halifax come back again 12 Apr Friday saying it’s not signed/letter heard rejected again, another reference sent.

Mortgage offer issued April 12 Friday afternoon for the amount required...������

Waiting in paperwork now....

Such a stressful week, my payroll department are not too happy with the demands lol

jasperconran

hate all this waiting been a good 20 years since the last time we moved lol!

The only thing I dont understand from reading some of the older posts is how people are getting valuations done when the mortgage offer isnt in? must be missing something as my broker advised that Kensington will not do a valuation on the house we are buying (which is stupid cos if they did they would see its worth way more than what we wanna borrow!!!) until the offer is in. now we are back waiting in the stupid queue, he advised friday that hopefully we should hear by Tuesday. I hope so, its been a long 4/5 weeks lol

lumpyspaceprincess

For me the mortgage application is in via my broker to Kensington, and that's when the valuation occurs as part of their underwriting.
The result of all that leads to the mortgage offer being issued hopefully! (Think this is just a difference in terminology)