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

Annieireland71

UPDATE** The Leeds have now asked for pension statements** this is because new mortgage is 3 years over pension age...

FTB_CO

elsimsy wrote: »

Hello,

New here, but wanted to join to be with other people stressing over the same thing! We were convinced we wouldn't get a mortgage, but within 1 week of seeing a broker, we have had an offer accepted on a flat, and are now awaiting a decision from Nationwide!

DIP - 6th June
Offer accepted - 8th June
Application to Nationwide - 10th June
Valuation booked for 14th June.

The waiting is soooo worrying! Our current landlord is selling our flat, so we were kind of forced into this - because of that we haven't been careful with our finances at all recently. Our credit is good as we've never defaulted, but we do have a hefty loan and car credit. But I'm worried they'll look at our bank accounts and refuse us! Our broker thinks we are worrying over nothing, and Nationwide haven't asked for statements so far.

I'm crossing everything at the moment!!

Hey - I was recently in your position. We are FTB and have had a mortgage accepted with Nationwide. I was a mess as so many people told me that you need to have clear statements for 3 months, no reckless spending, always take cash out etc.. and the house we found came out of the blue so did not prepare for it.

Turns out I worried for no reason at all. Nationwide did not ask for any bank statements, not even my payslips! Only my partners payslips. And it was accepted! If you have the valuation on Friday, depending on the time you may hear back the same day, if not I can guarantee it will be on Monday.

My advice would be to download the "MyNationwide" app - you can ask them for an update on your application. I used this to ask if our documents had been checked whilst we were waiting for the valuation to take place and they confirmed for me that all our documents had been checked and approved and that they were just waiting on the valuation.

Good luck!

Crumble2018

FTB_CO wrote: »

Hey - I was recently in your position. We are FTB and have had a mortgage accepted with Nationwide. I was a mess as so many people told me that you need to have clear statements for 3 months, no reckless spending, always take cash out etc.. and the house we found came out of the blue so did not prepare for it.

Turns out I worried for no reason at all. Nationwide did not ask for any bank statements, not even my payslips! Only my partners payslips. And it was accepted! If you have the valuation on Friday, depending on the time you may hear back the same day, if not I can guarantee it will be on Monday.

My advice would be to download the "MyNationwide" app - you can ask them for an update on your application. I used this to ask if our documents had been checked whilst we were waiting for the valuation to take place and they confirmed for me that all our documents had been checked and approved and that they were just waiting on the valuation.

Good luck!

Thanks! I think I've now gone from worrying about how our finances may affect the mortgage, to worrying about the valuation not coming back high enough! It's so stressful, I've got a tummy upset today through the stress!!!

Istinne

My partner and I are first time buyers, our offer was accepted 2 weeks ago and apart from some faffing about with my grandparents over giving us a gift toward the deposit things have been going quite smoothly! Can't wait for things to start progressing though!



24/05/19 - offer made, some negotiation over price and appliances

24/05/19 - offer accepted
30/05/19 - mortgage advisor ready to submit offer, call from dad to say grandparents want to help but we have to go see them in person
31/05/19 - mortgage advisor goes on holiday
01/06/19 - visit grandparents, recalculate mortgage figures
03/06/19 - Received call from estate agents advising the vendor has now found somewhere she wants to buy but it is chain free, previously she was going to move into rented as she hasn't found anything she liked
06/06/19 - Chase solicitors as no contact received. Advised they are waiting on memo of sale. Estate agents told us that they couldn't issue memo until solicitors were formally instructed. Give solicitors details to estate agents.
11/06/19 - decide that gift from grandparents too much effort following call from mortgage advisor after speaking to lenders about legal agreement. Revert to original deal at 90% LTV.
12/06/19 - mortgage illustration received from mortgage advisor. Bank statements and evidence of deposit sent over.
14/06/19 - final information requested frok mortgage advisor - Full mortgage application submitted.



Our mortgage advisor in good spirits that valuation will be arranged on Monday. Hopefully things will finally start moving - we're hoping for a mid to late August completion if everything goes smoothly!

Crumble2018

We got our offer today! Nationwide sent a text this afternoon to say they’d issued an offer - we then assumed we’d have to wait until Monday to confirm it was for the full amount. But our lovely broker e-mailed us the offer documents from home so we didn’t have to wait! I could have kissed him! :beer:

Jen2112

Well it seems this is where I am supposed to be ....
Offer accepted on 31.5.19
Mortgage application in 5.06.19
Valuation done 12.6.19
I am just waiting for a decision. Convinced it will be a no. I am finding the whole process very stressful and as a single woman buying my first home I am feeling quite stressed and alone.

A bit of background.... I had an AIP with Natwest, it went to application and they declined straight away. Then the mortgage broker advised another company so we have sent everything but apparently they are not quick. I don't really understand the affordability aspect of it so I think that could fall down and then the valuation scares me. I feel sick constantly.

lovedeathcab

FTB here, very nervous and had a hiccup so far that's set me back. Bit of a timeline here

23/5/19 - Reserved a new build flat and given an exchange date 4/7/19 (6 week timescale)
29/5/19 - Appointment with broker, decide to go with Nationwide as the best deal
30/5/19 - Instruct solicitors
3/6/19 - Application in with Nationwide, looking good, valuation booked 7/6/19
11/6/19 - HTB authority to proceed received, Nationwide turn down mortgage due to ground rent/service charge (??? anyone else come across this, it's affordable)
13/6/19 - Application in with Santander but they want additional info which the broker is sending off

Which leads me to today, stressed out and still awake after 11pm. Panicking that the developer will either pull out when my exchange date/reservation time limit runs out or up the asking price. Also doesn't help that my solicitors hasn't responded to any of my e-mails, was away last week with terrible phone service. Going to ring for an update tomorrow. Anyone have any advice about the reservation time limit thing? So stressful all of this

Angelschild

Angelschild wrote: »

My second 'waiting for mortgage decision' post!


Timeline so far:
Feb 2019 - viewed first property, made offer, accepted etc.
Feb 2019 - other legal work started in the background to remove me off the mortgages and title deeds of marital home and 2 x BTL properties
Mar 2019 - first mortgage application goes in and is turned around within 3 weeks, so mortgage offer issued at the end of March
April 2019 - all searches complete, in theory I'm ready to exchange, transferred all monies including deposit over to my solicitor
May 2019 - other legal work still ongoing, had no idea it would take so long.
May 2019 - vendor gets bored of waiting and advises me that they are putting the property back on the market, can't blame them I never intended to keep them hanging on
May 2019 - I decide to formally withdraw my offer, I'd had a few doubts over the property and they weren't happy to wait, so seemed the right them to do.


24th May 2019 - new property drops into my search criteria on Rightmove, I instantly love it so book to go and view.
25th May 2019 - view property, fall in love, make offer, second offer accepted
31st May 2019 - other legal work progressing well, final title deeds signed over so that should now complete in the background within a couple of weeks
3rd June 2019 - saw Mortgage Advisor to run through new mortgage required and get last 3 months payslips, hopefully he'll be submitting new application this week
5th June 2019 - sale officially instructed
6th June 2019 - original deposit returned from previous purchase, bank balance looks healthy again for the time being!


So now I am back in the waiting game, back in the waiting for searches etc. but I am super excited about the way things have turned up, even despite losing £770 on searches and fees on the other aborted purchase.

Full offer received today, whoop whoop! moving over to waiting to exchange thread now, good luck to everyone else still waiting!

Mrshix

Hi everyone. We are a couple of first time buyers and we could not have had it any harder I dont think!

Application process was a bit of an expensive faff but thanks to our broker it was simple enough, however last week our mortgage was refused because of an 'undisclosed debt'. When we looked into this it turned out that they assumed an old loan was still being paid off (it was paid in full 4 months before the application went in). Our broker put in a complaint, resubmitted the application as advised and we were due to hear our decision on Friday, then additional tax credits awards notice were requested. Leeds said that our decision would be made today, but called our broker to tell her that our case has been pulled for auditing!

We currently rent and have had to give notice on our flat, luckily our landlord is who we are buying our next home from so they have been extraordinary, and have promised not to bin us out on the street should this take much longer (we have two children, 6 and 2 so we are so relieved).

Broker is very confident that we will be approved, but this audit has made my bumhole twitchy again.

Does anyone know how long an audit with Leeds Building Society can take? Valuation is all complete and solicitors are prepared so this is all we are waiting on now before we exchange.

agiriraj

Hi guys,
My mortgage adviser submitted my mortgage application a week ago, I have been told, decision will be quick with NatWest that I may get my decision within 24 hours. its been more than a week now, no news !
Also NatWest deducted £995+£75+£173 from my account without notifying this morning.
I am bit worried now. has anyone faced similar situation?
Any advice would be helpful !
Thank you,
Apoorva