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

Tcmichael

I own a property with consent to let in my own name. My new wife and I have applied for a new mortgage for our dream home. Total borrowing is £100k less than affordability calculator on Natwest.com

Got DIP and passed credit score
Sent paperwork and payslips (we bank with Natwest)
They've now asked to see statements for personal loan and hire purchase - is this normal?

We're worried sick! We've also been waiting two weeks to get a hire purchase statement so have sent the loan documents to Natwest now saying the rest will follow.

PheoUK

Currently falling apart nerves wise here. Applied H2B with Abbey around 16th Jan. All OK, initial credit checks passed no problem. 3 Months bank statements requested and sent, valuation subsequently instructed.

Have since found out that my OH has managed to run up two late payment charges in the last three months due to "forgetting to pay"

To say I'm now pulling my hair out would be an understatement. Just hoping against hope that as the affordability is firmly in our favour (£1400 disposable, easily pass affordability at 7.5% interest, good balances on our current accounts which are all in good standing) that it'll still go through.

Survey was done on Thursday, so they should have received the valuation today (48 Hr SLA). So another thing to worry about.

OH is currently distraught. Sigh. This isn't fun. Maybe I should say renting!

Wozza85

PheoUK wrote: »

Currently falling apart nerves wise here. Applied H2B with Abbey around 16th Jan. All OK, initial credit checks passed no problem. 3 Months bank statements requested and sent, valuation subsequently instructed.

Have since found out that my OH has managed to run up two late payment charges in the last three months due to "forgetting to pay"

To say I'm now pulling my hair out would be an understatement. Just hoping against hope that as the affordability is firmly in our favour (£1400 disposable, easily pass affordability at 7.5% interest, good balances on our current accounts which are all in good standing) that it'll still go through.

Survey was done on Thursday, so they should have received the valuation today (48 Hr SLA). So another thing to worry about.

OH is currently distraught. Sigh. This isn't fun. Maybe I should say renting!

The fact you passed credit check with those late payments it shouldn't be an issue. They would have come up in the Credit check so they must be aware and don't mind.

lexilex

lexilex wrote: »

Hope nobody minds but I could do with a bit of a vent among people in a similar position to ourselves.

Nothing seems to be happening at all. Our survey all came back okay, and about two weeks ago our broker said she had spoken to the solicitor and he was done, she even contact the EA to arrange dates. Now all of a sudden our solicitors are still waiting for some documents relating to our purchase, and the sellers solicitors are still awaiting replies to some questions they had. I asked for a rough idea of dates but he couldn't even give me that. Our solicitors keep telling us they will contact us with an update but if it wasn't for us chasing them we wouldn't have heard anything at all.

Currently got a washing machine and fridge freezer in my parents hallway and it feels like we're never going to complete.

Meanwhile we know people who had offers accepted weeks after us and have already completed. I know every situation is different but it's all very frustrating :mad:

Rant over

And still nothing has happened.

Is it too early for me to start losing my temper? Our offer was accepted 28/11. Our solicitor is still waiting on the same things he was waiting on over 2 weeks ago. We've furniture due for delivery on 28/02 and I am panicking now.

This is all knew to us and I don't know what, if anything, I should be saying to hurry this along.

FreddieFrugal

Was terrified this morning when I received a text saying "a revised mortgage offer has been issued."

After thinking everything was sorted mortgage wise - immediatley assumed that something bad had happened, they were reducing the amount, everything would be thrown into chaos!

Turned out after calling them its just because solicitor updates them on a very slight change. (Ive queried this as i think the change is wrong, it's added the adjoining main road to the full address, below the name of the close and missed off the first part of said main road's name). Other than that all is well.

Should have known when the text began with "we are delighted to..." But I assumed it was a sadistic comment!

right_track

06/01/2014 - Saw house on Rightmove.
07/01/2014 - Went to see the house
08/01/2014 - Offer made on house, rejected, 2nd offer made on house, accepted
13/01/2014 - Spoke to Broker who got AIP with Woolwich (Barclays)
16/01/2014 - Full application submitted to Woolwich with payment for valuation
22/01/2014 - Survey being carried out today
23/01/2014 - Survey carried out and valuation received - valuation is what our offer was so that's okay, may need additional damp survey
24/01/2014 - Paid solicitor to begin searches, 2012-2013 SA302 form requested from HMRC, 2011-2012 & 2012-2013 signed & stamped company accounts requested from accountants
27/01/2014 - Additional damp & timber survey carried out - awaiting results
28/01/2014 - Company accounts received from accountants & sent to Woolwich
4/02/2014 - Most recent SA302 form received from HMRC and sent to Woolwich
11/02/2014 - Broker has advised that underwriters have said MORTGAGE APPROVED! Offer letter being posted out today.

charleyroo

Eeeek I'm joining!!

26th Oct 2013 - House on sale
29th January 2014 - Price reduced
6th February 2014 - Offer accepted
7th February 2014 - Deposit paid on new build, engaged with broker, ordered valuation on current property for Shared Equity purposes
10th February 2014 - Solicitors instructed by myself and buyer
11th February 2014 - Chose mortgage deal and doing paper DIP with broker

marginex

Congrats Charleyroo!

Im still waiting :-( feel sick!!!

charleyroo

i feel pretty sick too! i'm impatient to get on with things as my builder wants me to exchange within a month and i know a day here and a day there all adds up. so i'm doing all my bits and bobs as quick as possible.

i had a DIP accept for well over the amount i want in October so it hasn't long expired dammit lol

hope you hear something soon.

gazfocus

gazfocus wrote: »

05/01/2014 - Saw house on Rightmove and fell in love.
11/01/2014 - Viewed house and loved it even more (only needed the one viewing really).
11/01/2014 - First offer made on house.
15/01/2014 - First offer rejected.
15/01/2014 - Second offer accepted.
15/01/2014 - Got AIP from Natwest for £7k more than needed.
16/01/2014 - Instructed Solicitors.
21/01/2014 - Received Memorandum of Sale from EA.
21/01/2014 - Full Mortgage Application Submitted via IFA.
21/01/2014 - Valuation Fee Paid.
21/01/2014 - Valuation booked for Friday 24th January.
27/01/2014 - Valuation came back ok
27/01/2014 - Halifax have requested 3 payslips for me. MA to submit.
28/01/2014 - MORTGAGE OFFER ISSUED (trying not to hurt myself as I bounce off the walls lol). Cannot believe it's only taken a week.
29/01/2014 - Mortgage Offer received in the post (solicitor also received Mortgage Offer today).
03/02/2014 - Have to go back to Halifax to have requirement for current mortgage to be repaid taken off the offer as we're renting out our current house on completion.
05/02/2014 - Ammended mortgage offer issued by Halifax.
05/02/2014 - Current house advertised to let on Facebook.
06/02/2014 - Email from solicitor confirming receipt of satisfactory replies from sellers to her queries and confirmed just waiting for searches to come back.

Another update...

09/02/2014 - Secured a tenant for our current house.
11/02/2014 - Ammended mortgage offer received from MA.
11/02/2014 - Solicitor received searches back - Environmental search has failed due to possible contamination. Needs to be approved by Halifax before we can continue.