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

Sncjw

Is having valuation booked on same day of application mean it’s passed the underwriters? We applied around 4 hours ago and already have valuation booked for 10/3. 

Lews_100

Sncjw said:

Is having valuation booked on same day of application mean it’s passed the underwriters? We applied around 4 hours ago and already have valuation booked for 10/3. 

I'm not really an expert but my understanding was they book the valuation on receipt of the case and then begin the checks whilst awaiting the report back. Different lenders may act differently though! 

bumblebee1986

Anyone waiting on Santander?

Chrisabian

Some certainly seem a lot faster than others! Supposedly getting an update by close of business today from Clydesdale. Horrible how it drags on.

Danny174nw

Just joined the waiting game! Applied to Barclays via broker
aip - 5/02/20

advised via broker that initial credit check has been passed and is now subject to underwriting 
full application submitted - 12/02/20

28/02/20 - received a text today to say mortgage offer has been issued!!! And will be posted to us in the next few days.. absolutely delighted! 

onthemend88

17/02/20 - DIP

18/02/20 - Mortgage Application completed, hard credit check (Experian), HTB Application Completed

24/02/20 - HTB Granted, Hard Credit Check performed from HTB Wales (Equifax), Authority to Proceed obtained

25/02/20 - Full Mortgage Application Submitted, Valuation Fee taken

27/02/20 - Further documents and info requested from Precise. Broker informed Precise to hold off on valuation until underwriting has been completed.

28/02/20 - Further document and info requested from Precise

29/02/20 - Precise underwriters happy with all documents and information submitted and valuation instructed 

Anyone know which company Precise use to complete the valuations, and also, how long valuations usually take?

December1

When a valuation has been instructed and completed does this mean its passed the underwriting stage? I got informed that my vaulation was on the same day! waiting to hear back this week. Fingers crossed

19alreadyforgot

December1 said:

When a valuation has been instructed and completed does this mean its passed the underwriting stage? I got informed that my vaulation was on the same day! waiting to hear back this week. Fingers crossed

Valuations are often done via a computer or a drive by and for the mortgage company . A survey is different and for you . The underwriting is done with all of the information in your financial information and the house valuation. If you got a DIP and the valuation is is near to the price you need a mortgage for, you should be fine . 

CheesyWiggles

The stage from deciding to buy a house, to an agreement in principle happened very fast for us.
Within a couple of weeks we had an offer accepted on a house that we love.
We're waiting on the house valuation now. Our lender are one of the more thorough/slower ones.

onthemend88

Anyone else happy it's Monday? Will hopefully find out our valuation date today.