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

Stultus

FTB and very lucky as there’s no chain on the other end either!

29/04 - submitted mortgage application via L&C with Nationwide
30/04 - valuation ordered and took place same day
02/05 - additional documents submitted (employment contract, gifted deposit, help to buy ISA statement)

And waiting since. The case worker at L&C said the valuation came back as expected but when I chased after a week (when I was told I should hear by) he said they had advised I would hear by Wednesday.

ashley987

My husband and I are currently waiting for our mortgage approval.
Our plan has completely changed, we had an early bird reservation on a new build in our area but they changed the build programme meaning the property wouldn’t be built until April 2020. Anyway, an older house came up for sale which is absolutely perfect for us so we’ve started the process.

04/05 - Viewed house & made verbal offer to the estate agent. Told we wouldn’t hear back until Tuesday because of the bank holiday.
06/05 - Mortgage Advisor gets AIP from Digital Mortgages. (We previously had an AIP from our Bank)
06/05 - View an newer Build in our area just to be sure it wasn’t for us. Wasn’t for us thankfully.
07/05 - Verbal offer on first house accepted.
08/05 - Solicitor instructed
09/05 - Solicitor sent our written offer.
10/05 - Mortgage Application submitted.

I’m on tender hooks as since we decided to pull out the early bird reservation we didn’t plan on buying a house until the end of summer to allow us to save a little more and have our bank accounts nice and neat without mindless spending, we also have 2 credit cards and I have a loan, however everything is always paid on time. All that being said, the MA thinks everything is fine, we’ve nothing to worry about and thinks he will have a good update for us come Friday this coming week. Digital Mortgages are willing to offer us £377,000, we are only borrowing £137,750 so hoping that counts for something too.

We aren’t telling any of us friends of family because I am so worried we will be refused a mortgage :undecided

Stultus

ashley987 wrote: »

We aren’t telling any of us friends of family because I am so worried we will be refused a mortgage :undecided

I think that’s really sensible and something I wish I’d done. It’s only been 4 weeks since we first viewed the house we’re buying and I’m already sick of friends and colleagues asking about it!

I’m also with you on being really worried about not getting a mortgage offer. There’s nothing bad in our credit reports but there’s not a huge amount good either (neither of us has ever had a credit card or bought anything on credit). I’m like the most financially sensible person I know but for all they know I’m a risk.

klew356

I am single and buying a house, it’s the first time I have ever felt that I would like to be doing this with someone. After months of looking I put an offer in, first offer refused second offer accepted. Valuation took place last week and so far so good with the mortgage. Solicitor sorting things her end. Its stressful though. I have only told a couple of friends and my parents what I am doing. I am not sure at which point I will mention to collegues. Would be quite happy for the line manager to find out at change of address time – if it goes ahead. I don’t feel excited about it yet as I feel like until the valuation and survey has been done nothing is set in stone.eeek.

Amoux

Over 5 weeks in and I have hit another snag with Leeds Building Society. They finally completed the valuation report but they now want a structural engineer to check a potential issue with the house. This will now add at least 2-3 weeks of delay because all the local engineers are busy and overbooked - and cost a further £400. If the engineer comes back with bad news, then we may not be able to get the mortgage altogether!

EternalOptimist

Goodness, this is such a painful, torturous process for us all!

We're having a long, drawn-out nightmare. We're now on week 5 since our application, and just seem to be going back and forth with our broker and Natwest.

The issue is that we're self employed and while initially, we were given an AIP for much higher than we needed, when we applied, they came back with a lower amount they'd lend us. Seems the reasons for this is because they've taken an average of our earnings over the past two years, rather than our most recent income. We've since jumped through 101 different hoops with various different documents including our accountant's projections for this year, company accounts and bank statements, etc. Hopefully now we've submitted this year's tax return which proves our income for 18/19, it should all be fine, but at this stage, I've almost lost faith it'll all come good. Natwest have this info now and since then have come back asking for better bank statements as the last ones were from our online banking and didn't have our name/address on it. I'm hoping this is a positive sign...?

If not, I'm guessing we'll need to go back to a specialist lender for those who are self-employed... I just want to be able to sleep at night, this stress is horrid!

2scompany3sfamily

Ugh... we are both self employed... separately though. Husband is CIS and I have a teeny business but we are submitting to Natwest this week via our broker and I'm S******* bricks whilst trying to stay calm for my husband. Our AIP went through without a hitch and apparently we were hard searched... worried that they will drag us out with other docs etc though. And worried we might not get it at all!!!

Fingers crossed for you - and us!

EternalOptimist

Thanks 2scompany, it's painful isn't it?

We were hard searched and all was fine, it looks like the tricky bit has been proving our income, so make sure you have your SA302s up to date, and you'll be fine, I'm sure.

Good luck! We were meant to know yesterday, then today and as it's hurtling towards 5pm, it's looking unlikely it'll be today. I'm slowly losing the will to live...

Frugal_Saver

Mortgage application with Nationwide was submitted nearly 3 weeks ago now.

The valuation is finally booked for Thursday, mortgage advisor says I should get confirmation next Monday or Tuesday.

Missives should be done on Thursday but I’m buying a new build and they’re happy everything is progressing so shouldn’t be a problem.

Will be glad when this is over and I can start looking forward to my new home

ifu05596

What are people’s experience with Yorkshire Building Society valuations, are these typically more than home report or the same? Asking to select the correct LTV