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

heston2014

Sammy_J wrote: »

I've only been on this thread since last weekend, but it's now time for me to move onto the waiting to exchange thread as our mortgage was approved this afternoon! Our timeline below in case it helps anyone:

16/07: Offer made, negotiated and accepted
17/07: Appointed mortgage broker
18/07: Instructed solicitor
20/07: Received AIP from Halifax
22/07: Submitted full mortgage application to Halifax
22/07: Valuation booked
23/07: Query from Halifax about my payslips (they struggled to open them as they're password protected)
25/07: Mortgage financially approved subject to valuation
26/07: Valuation took place
26/07: Mortgage offer confirmed

Still can't believe it happened so fast!

Best wishes to everyone still going through the process!

Congratulations and good luck with next steps!

scholesfan88

We have the dreaded nervous wait ahead now!

02/07: AIP recieved through Broker
20/07: Viewed house
22/07: Offer placed £10k under asking
24/07: Offer accepted
25/07: Solicitors instructed
26/07: Full application completed with broker and submitted to The West Brom

The West Brom have taken the survey fee from my account already.

Broker states a 24 hour turn around for The West Brom to review application and the same amount of time to instruct survery/valuation.

Fingers crossed it all goes to plan, plenty of sleepless nights ahead expected!

dingling68

I have had a very long and frustrating journey to get this far on my purchase of a second property by the sea.

I am remortgaging my current home with Halifax to fund the deposit [more than I paid for my first house 30+ years ago :shocked:] and using Halifax again for the purchase of the property.

The property first appeared on Rightmove almost a year ago and I discounted it as too expensive. As it was still on the market in February I had a viewing ... and two days later they dropped the price. My offer was accepted 25/2/19, £5k below the reduced asking price!

As my best friend says "what's meant for you won't go by you" so I have stuck with it [issues with new lease and both solicitors blaming each other etc etc etc] and here I am finally awaiting mortgage offers ... more than 5 months down the line!!!

25/7/19 paperwork received from solicitors acting on the remortgage.

26/7/19 valuation carried out on the property I am purchasing.

Sooo another wait begins ...

heston2014

dingling68 wrote: »

I have had a very long and frustrating journey to get this far on my purchase of a second property by the sea.

I am remortgaging my current home with Halifax to fund the deposit [more than I paid for my first house 30+ years ago :shocked:] and using Halifax again for the purchase of the property.

The property first appeared on Rightmove almost a year ago and I discounted it as too expensive. As it was still on the market in February I had a viewing ... and two days later they dropped the price. My offer was accepted 25/2/19, £5k below the reduced asking price!

As my best friend says "what's meant for you won't go by you" so I have stuck with it [issues with new lease and both solicitors blaming each other etc etc etc] and here I am finally awaiting mortgage offers ... more than 5 months down the line!!!

25/7/19 paperwork received from solicitors acting on the remortgage.

26/7/19 valuation carried out on the property I am purchasing.

Sooo another wait begins ...

Are you renting out your first property? Is the Halifax basing the two mortgages on income affordability or also taking into account rental income?

slinger55

slinger55 wrote: »

Haven't seen many of these recently with Platform so thought i'd post:

Offer Made - 10/7/19 (best and final offer)
Offer Accepted - 12/7/19
Solicitor Instructed 15/7/19
Mortgage Application submitted to Platform via Trussle - 19/07/19
Hard credit check by Platform - 19/07/19

Valuation has been booked in for Friday by Platform, however not heard back about the initial underwriters decision yet. Our broker said we should hear by close of business tomorrow.

Hopefully them booking the valuation is a good sign!

Valuation done - 26/07/19
Broker received valuation for our offer value 30/07/19
More information about employment requested and sent - 30/07/19

Waiting patiently for a decision now!

rosieflowers

rosieflowers wrote: »

20/07 - offer accepted
22/07 - sols instructed
25/07 - MA back off holiday, he submits application to Natwest... the wait begins

26/07 - at 14.22 L&G email to confirm they've booked the valuation survey for 08/08
30/07 - application approved subject to valuation!

So 2.5 working days from application to 'approval subject to valuation'. Is this normal? I wonder if it's because we both bank with Natwest? Me for over 14 years and DP for the last 2 years. They didn't request bank statements.

Email from Natwest says once completed valuation report received, they will forward us a copy and if satisfactory, Offer should be sent within 2 working days. Shame we have to wait until the 8th for the valuation. We're on holiday 9-19th so hoping for the Offer when we get back!

dingling68

heston2014 wrote: »

Are you renting out your first property? Is the Halifax basing the two mortgages on income affordability or also taking into account rental income?

No, I live in my first property and rent out two more. The Halifax are taking into account the rental income and the equity I have across the three properties

Senplist

Senplist wrote: »

FTB 95% LTV Mortgage with Santander:

18/07 - Full Application via MA, Valuation Booked
22/07 - Requested Additional Information

Here's hoping I haven't gone to the back of the queue!

18/07 - Full Application via MA, Valuation Booked
22/07 - Requested Additional Information
25/07 - Requested Additional Information
30/07 - Requested Additional Information

Does anyone know how long Santander roughly takes for a decision?

firsttimebuy1

weve just had our offer accepted for our first house!

so far our timeline is

20/07 first mortgage advisor meeting, went over rates, deposit etc - would have had a DIP but I had to get a permanent contract for my role which I got the following week.
27/07 Halifax DIP issued from broker so no footprint would be left on credit reports
31/07 final offer accepted and negotiated to have house removed from market and have other viewings for the property cancelled.

We have got all our documents ready to apply for our mortgage application which will hopefully go smoothly as we have never had any issues with defaults, excessive loans etc and both our reports are great, fingers crossed it all goes smoothly with nationwide ��

[Deleted User]

Senplist wrote: »

18/07 - Full Application via MA, Valuation Booked
22/07 - Requested Additional Information
25/07 - Requested Additional Information
30/07 - Requested Additional Information

Does anyone know how long Santander roughly takes for a decision?

Generally with all lenders when they request additional info you do go "to the back of the queue" as you say. Hopefully, if this information provided satisfies them then it'll be subject to their usual turnaround times so approx 3 working days if you provided the info today.

Do you know when the valuation is booked in for?

I've got some cases where the valuation has been booked for 3 weeks away (unusual, but it can happen!) so all this backwards and forwards doesn't actually make much of a difference until you get to nearer the valuation date.

If the valuation has already taken place, then of course that's when it's more urgent to get to the bottom of whatever the issue(s) are and get the offer sorted. Hopefully you'll have clarity soon

As you send info in, they are still looking at the case - so you could get to a stage where they just ask 1 question and as soon as you've answered, it's ready for offer.

They are the type of cases I flag up to review quickly when I see the client has responded (lenders want offers out just as quickly as buyers, and sorting out the 'quick hit' "1 item outstanding" cases are the easiest for us to achieve that!)