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

mistree

zesh90x wrote: »

1. Could you not have gone through nationwide again, on the new property, especially if the mortgage was approved by them previously?

2. I am in the queue with skipton too, my application was submitted the day before yours, and the valuation was pretty much instructed on the same day. The valuation is taking place on Monday, and skipton expect a turnaround time of 48 hours from their valuers, therefore my broker reckons that we will have a final "decision" on the 2nd October, as the underwriting will most likely have been done by then, and it'll all be subject to the valuation most probably.

Hope that helps, and probably mean you'll also be working on a similar time frame as me given you've only applied the day after...

In response to point 1 - unfortunately not. Nationwide would have required us to make a whole new application apparently. Even so the mortgage they offered was no longer suitable as this new house is a newbuild and we only have a 10% deposit, where they require 15% on newbuilds. Has been a bit of a nightmare but positive hearing how quickly yours is going - when did you find out about your valuation being booked? We had text alerts with Nationwide but i dont believe Skipton offer this service so wondering if all communication is via broker? Have heard nothing yet.

zesh90x

mistree wrote: »

In response to point 1 - unfortunately not. Nationwide would have required us to make a whole new application apparently. Even so the mortgage they offered was no longer suitable as this new house is a newbuild and we only have a 10% deposit, where they require 15% on newbuilds. Has been a bit of a nightmare but positive hearing how quickly yours is going - when did you find out about your valuation being booked? We had text alerts with Nationwide but i dont believe Skipton offer this service so wondering if all communication is via broker? Have heard nothing yet.

Ah that's a shame buddy, ermm my broker told me the valuation date, I also got a text from skipton confirming the valuation has been booked,

Lastly it also shows on the Skipton mortgage tracker page, all you need is the Skipton account number you got on application and the postcode for the proepty you are applying on, this should open the tracker for you and show you a valuation date if they've booked one in yet.

Hope that helps buddy.

dreamingofbuying

Well further update.

19/20th Sept - DIP received from The Mortgage Lender and full application submitted.

26th Sept - request for confirmation of details on regular payments on bank statement and confirmation on balance of car loan. Also requesting bank statement confirming gifted deposit amount.

27th Sept - all documents submitted and now patiently awaiting the outcome.

New hurdle ... the home report has now gone over the 12 weeks mark and is deemed out of date and we are having to pay for another as part of this lenders criteria, we apparently have to do this 🤨 nightmare! However, seems to be progressing which is positive and hoping we hear back soon.

RailwayFTB

RailwayFTB wrote: »

Posted a separate thread as didn't realise this thread existed.
Timeline so far:

2/9 got DIP from L&C.
7/9 viewed a lot of houses.
9/9 after failing to get hold of L&C all week went directly to YBS and got an AIP with them. Also submitted under asking offer on house. 17/9 offer finally accepted.
18/9 submitted full mortgage application.
19/9 underwriter came back and asked for three month payslips and one month bank statement.
23/9 underwriters query a standing order for rent
24/9 underwriters confirm they have everything pending valuation survey - 27/9 TOMORROW

Nervously waiting for valuation survey and sign off on mortgage. Surely at this point if there was anything awful they would have rejected us (not that we have, just obvious nerves).

Mortgage offer came through today - valuation as expected :beer:

zesh90x

Awesome news, we all live in hope 😄. Congratulations buddy. :T

zesh90x

zesh90x wrote: »

I'll join the fun here... so here we go... p.s application via broker.
19th August to 23rd August - wasted time applying to LBS only to realise that they don't consider loans beyond 300k at 5%.

Moving on - change of Broker (for a much better one) and he did thorough research and here we are currently.... (P.s 10% deposit now).

24/09 - Got DIP from SN.
24/09 - Application submitted.
24/09 - SN instructed valuation
25/09 - Minimum document requirements fulfilled. (payslips, bank statements, proof of deposit etc.).
26/09 - Valuation date confirmed as the 30th September, valuation result expected to be confirmed on 2nd October.
26/09 - Realised conveyancer was not on lender panel, broker has resolved this.

Currently - > Underwriter is assessing the application whilst we await the valuation, broker reckons that by the 2nd of October, the underwriter will have done his review, and assuming the valuation goes well hopefully an offer is made..... the nerves are killing me slowly!

Quick update - My broker tells me that a fairly straight forward query came out of the paperwork assessment by the underwriter which has been cleared to the underwriters satisfaction.

The lender expects the valuation back today, and should there be no issues on that front the broker is expecting the offer to be confirmed today..... Sooooo nervous! Bricking it! :think:

newsgroup_monkey

So.... update from me. Also dropped L&C. I see this is a common thread!


3rd September AIP applied for and received same day from L&C. Very impressed!
That's where the fun stopped. 11th September, had offer for property accepted and we started the L&C process. All very slow and didn't seem at all "online" (they were asking us to call them etc. but we both work full-time and I'm in an open office). By the 16th, I told them to drop it and went to Habito.


So.....
18/9/2019 spoke to Habito, identified mortgage. All finance questions answered. They sent the forms back (electronically). All completed and returned to Habito on 19th.

20/9/2019 Mortgage officially applied for
26/9/2019 Survey completed
30/9/2019 Mortgage offer received and complete


6 working days to complete Mortgage, including survey.

If only the searches were so quick......:rotfl:

Determinedtobedebtfree

Congratulations....L&C really are awful! We got our DIP quickly from them and then when I found a property they just disappeared! Didn't answer calls, their online system just didn't work! I'm still waiting on a call to be returned from Sep 3...luckily we didn't wait on them!

newsgroup_monkey

Thank you :beer:
I'm concerned that MSE and MoneySupermarket (MSE's owners) have such a push towards L&C if this is normal. I wonder if anyone has ever taken it up with them.

zesh90x

zesh90x wrote: »

Quick update - My broker tells me that a fairly straight forward query came out of the paperwork assessment by the underwriter which has been cleared to the underwriters satisfaction.

The lender expects the valuation back today, and should there be no issues on that front the broker is expecting the offer to be confirmed today..... Sooooo nervous! Bricking it! :think:

The mortgage offer came through today - valuation as expected, and the timeline was spot on with Skipton! Credit where credit is due, my awesome broker (who resides on this forum) and Skipton have nailed it... now let's hope the conveyancer's can prove their worth:j