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

Jickyjay1

Hi my names Anna I’m 21 . Me an my partner are doing the help to buy scheme and have just applied for a mortgage . We have been accepted for the mortgage in principle by principality . Does anyone know what the chances are of getting accepted for actual mortgage ? Thanks

[Deleted User]

Jickyjay1 wrote: »

Hi my names Anna I’m 21 . Me an my partner are doing the help to buy scheme and have just applied for a mortgage . We have been accepted for the mortgage in principle by principality . Does anyone know what the chances are of getting accepted for actual mortgage ? Thanks

You're better off starting your own thread.

However a DIP is usually a guarantee - it depends if they have ran full credit checks against you and completed income statements etc.

kelseyjohn3

FTB's here
Offer accepted - 5th August
Solicitor instructed - 6th August
AIP with the Halifax (gone through broker)- 6th August
Full Mortgage application with Halifax - 6th August
Valuation instructed - 9th August
Valuation booked - 14th August

No further update from MB yet.... have emailed today asking if they know if the Valuation report has been looked at / signed off - we are then booking an independent home buyers survey.

Then what - rest is in solicitors hands I guess??

Good luck everyone also waiting on offers!

TSal

First Time Buyers, definitely driving our Mortgage Adviser insane with questions!

Offer accepted - 15th August
Solicitor Instructed - 15th August
AIP with TSB (with broker) - 15th August
Full Mortgage Application with TSB - 19th August

Waiting for confirmation of valuation and survey booking, hopefully all goes through smoothly. We've been looking since last October so glad to finally find the house we want.

Good luck to everyone else!

kelseyjohn3

Hi All,

Valuation has come in - undervalued by 8k

Really unsure why, house does need work doing but for the area it seems really low...

Broker is away until 27th also! Not going great.... the office lady says they are still 'reviewing documents so this is subject to change' - what could they be reviewing? is it likely to change? The owner isnt going to drop another 8k, we already had loads of back and forth with offer initially.

Nothing else in that area in our budget so feeling really disheartened

TSal

TSal wrote: »

First Time Buyers, definitely driving our Mortgage Adviser insane with questions!

Offer accepted - 15th August
Solicitor Instructed - 15th August
AIP with TSB (with broker) - 15th August
Full Mortgage Application with TSB - 19th August

Waiting for confirmation of valuation and survey booking, hopefully all goes through smoothly. We've been looking since last October so glad to finally find the house we want.

Good luck to everyone else!

Valuation booked for 22nd and TSB are happy with my income and employment as I started a new job 3 weeks ago!

Fingers crossed.:)

[Deleted User]

kelseyjohn3 wrote: »

Hi All,

Valuation has come in - undervalued by 8k

Really unsure why, house does need work doing but for the area it seems really low...

Broker is away until 27th also! Not going great.... the office lady says they are still 'reviewing documents so this is subject to change' - what could they be reviewing? is it likely to change? The owner isnt going to drop another 8k, we already had loads of back and forth with offer initially.

Nothing else in that area in our budget so feeling really disheartened

To be honest, in my experience valuations rarely change (they generally go through some form of audit/quality check before the lender gets them).

I'm guessing you aren't able to make up the £8k unfortunately?

Are you at the top LTV/affordability offered for your circumstances?

You never know about getting the value changed - even if you could get £5k knocked off the purchase price, that's then £3k to make up which is potentially possible? With brexit etc, I'd hope sellers are more flexible.

Have you tried speaking to the lender directly to see if they have any valuers comments? That might help you understand, and you can then possibly take that back to the sellers.

Hopefully it'll all work out for you

Keepclimbingthathill

Story so far -
16/7 DIP from Masthaven
30/7 all-requested documents sent
1/8 Application submitted
7/8 Request for info on home improvement and waiver for non dependent and reason for previous arrears.
7/8 part of valuation fee refunded as lender did an AVM valuation.
14/8 - currently in the underwriters queue
Update:
20/8 requested last 2 years mortgage statements!

I don’t understand why they are unable to ask for information in one go not weeks after you submit your application 🤷!

TiberUK

Keepclimbingthathill wrote: »

Story so far -
16/7 DIP from Masthaven
30/7 all-requested documents sent
1/8 Application submitted
7/8 Request for info on home improvement and waiver for non dependent and reason for previous arrears.
7/8 part of valuation fee refunded as lender did an AVM valuation.
14/8 - currently in the underwriters queue
Update:
20/8 requested last 2 years mortgage statements!

I don’t understand why they are unable to ask for information in one go not weeks after you submit your application ��!

Yes, reading through this forum I have been very surprised by how some of these companies seem to operate.

I got approved on Saturday and I found the process surprisingly straightforward. We applied directly through the bank, rather than via a broker. We had an pre-application meeting with the branch manager, he looked through our payslips and statements checking for any obvious red flags. Meeting lasted about 20 mins, he then booked us an appointment with his mortgage team for a couple of day later and we were told to bring everything we had, statements, p60s, payslips, credit card info etc with us.

Had our meeting with the adviser last Wednesday, she said that they would contact us in a few days with a final decision and that in the unlikely event that they needed any more info (they didn't) they would call. We were approved Saturday morning. Very painless process have no clue why some lenders seem to ask for info piece by piece

Keepclimbingthathill

That’s great news I hope that ours will be offered soon 🙏🏻