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

Firsttimebuyer29

Offer accepted here, just waiting to start the mortgage process.

Extremely nervous first time buyer, and my colleague at work warned me today about down valuations from lenders. Just what I needed!! Anyone have any experience of how often this happens?

brendon20ukk

Hi all.

Heres our timeline so far:
12 June - AIP accepted with natwest
18 June - Full application sent to broker
19 June - Broker taken valuation fees £175 + £75.

Felt them taking the valuation fees were too quick. Now solicitors are asking £150 search fees to be sent tomorrow but rather hold off in paying in case... anyone know if this is a good idea? If it would delays things? Thanks.

[Deleted User]

agiriraj wrote: »

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

That looks like arrangement fee + valuation fee + something else. It won't be without notifying you, the numbers would have been on your application. Don't worry, they say MAY decide in 24 hours, but often it takes longer.

[Deleted User]

brendon20ukk wrote: »

Hi all.

Heres our timeline so far:
12 June - AIP accepted with natwest
18 June - Full application sent to broker
19 June - Broker taken valuation fees £175 + £75.

Felt them taking the valuation fees were too quick. Now solicitors are asking £150 search fees to be sent tomorrow but rather hold off in paying in case... anyone know if this is a good idea? If it would delays things? Thanks.

Solicitors won't start searches without the money, so yes it is delaying things from that side. If you are worried about losing money if the mortgage isn't approved then you're doing the right thing, don't worry about the small delay.

Don't be surprised they've taken the valuation fees so soon, they won't process applications without the money.

brendon20ukk

Thanks SparkGrad.

Just to let you all know, we've received an email today from the broker saying Natwest application has been agreed and is subject to valuation (come in at 3pm today) also that the valuation is being done today so hopefully more news early next week.

Meeting solicitors monday to give then ID and paperwork fingers crossed and good luck to everyone else waiting...

Bennettxoxo

Hi all,

So far for us:
28 May - Made offer on property
31 May - Offer accepted
08 June - Full mortgage application completed with broker
08 June - Paid for valuation via broker
08 June - Provisionally paid for searches with solicitor (searches will not be done without our say so but can be put into motion straight away once we have our valuation back without delay or will be refunded if we don't go ahead)


23 June - Chased up our broker and he confirmed that we're still waiting for the bank to complete the survey.


So we are back to waiting. I guess I need to be a little more patient.

Jess269

Hi can i join the wait please im so stressed.

12/06/19 got dip with skipton
12/06/19 put in full application
17/6/19 valuation don
18/06/19 lender got valuation back which was fine
19/06/2019 more information required i sent it that day
25/06/2019 yet more information wanted sent in just now.

Is this a bad sign that they keep asking for more information?

[Deleted User]

Is this a bad sign that they keep asking for more information?

Not necessarily, it means they want more information. If they'd found something 'bad' they could just say no.

Jess269

Thank you, think im just overthinking everything.

brendon20ukk

A quick update from us

24th June - received an 'offer of loan' from Natwest after valuation was successful.

26th - 'authority to proceed' from help2buy application.

... waiting for conveyancer from solicitors to hurry up.:j