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

caw379

yelaro said:

Hello everyone,
Both myself and hubby are FTB and our mortgage application went in with HSBC 27th May and waiting for whether they've accepted us. Valuation was done last Wednesday. Mortgage adviser has said they have ok'd hubby's accounts etc he’s self employed and now they are going through mine. I’m employed but swapped jobs in April, still same line of work.
I'm a bit concerned as much as MA has said its looking ok so far, I went and checked my Experian report and I noticed four soft searches by HSBC in the last week, one also stated 'employment check' which I thought was odd because I'm quite sure employment details don't go on your credit report? Am I wrong here? I’m concerned because they’ve not done a hard search. I know scores aren’t really considered by lenders as they don’t see this but both mine and the hubby’s are excellent so it’s just circumstances and 90%LTV that’s worrying me. Very nervous wait! 

I can't reassure you much but we have also gone with HSBC, 2nd June it went in, we've had around 4 soft searches since and no hard checks either, also a very nervous wait! *fingers crossed* 

yelaro

@caw379 eeeek, very nerve racking, fingers crossed for you! 

It worries me when you read that they do hard searches when a full application goes in and all I seem to have are soft searches. 

I can only describe the feeling similar to when I was waiting to find out whether my daughter had got into the primary school we’d chosen 😂

caw379

I know same, but I can only hope that they do them soon and we pass!! 
Hahah I know what you mean, around this time last year I was 2nd reserve to get onto a doctoral course and was waiting and waiting to find out, very similar feeling!!! 

SimonBck

Hi, I had a mortgage offer from HSBC in March. I never had a hard search done on my credit reports. I had 1 affordability search on Transunion and 7 unrecorded enquiries and 1 ID check on Expedian and no checks on Equifax. Not sure why there is no hard search. I have only checked on the credit agency apps, so I do not know if I am missing something or for some reason a hard search was never done. This was a joint application with my Wife. I have not checked her credit reports. I would imagine if they were to do a hard search then they would do it on both of us.

yelaro

@caw379 oh yes waiting to see if you got the place on a doctoral I can imagine is another one especially as the application/proposal for it has to float the boat of the teaching team. Did you get on it? 

@SimonBck Thank you so much for letting us know about your situation. That has made me feel a little better 😊. 

I think it is just circumstances of swapping jobs in April, hubby self employed, high LTV and maybe use of some of our credit cards (30%utilisation on last credit report but a lot less now) but we both have excellent credit scores, just concerned having read how picky lenders are. 

SimonBck

Our offer was 90% LTV. My wife is self employed. My credit history was not perfect but rectified over time. Was surprised when my mortgage broker went to HSBC as read that they were one of the most pickiest of lenders. They asked for a couple of extra bits of info from us and then made the offer, no problems. 

caw379

@yelaro I did, I hope my luck hasnt run out!!
@simonbck this is so reassuring thank you for sharing! Ours is 90%, with past spotty credit history but better in the last few years. Fingers crossed!   

SimonBck

Fingers crossed for you.
The valuation was done on a Thursday Morning, the offer came through in the afternoon. This was pre Covid so I do not know if it will be as quick. 

caw379

Thanks @SimonBck
We had a valuation on Monday, they have asked for some more docs like p60s, the broker has said there is a 5 day turn around atm with new documents so hopefully, we should know by next week. 

mrspydey

Valuation was done on 18 with HSBC
Still no offer GRRRRRRRRR¬¬