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

j_s2020

@TWIGLET1234
If it makes you feel any better I am in exactly the same position with Santander. Three rounds of questioning and still totally unclear as to whether my application is nearing a final answer. Expecting to hear back any day now. Good luck, hopefully your painful saga ends with success soon! 👍🏻

Bane84

TWIGLET1234 said:

Bane84 said:

Our Application went in yesterday evening and mortgage advisor got an email at quarter to 8 in the morning saying they have instructed a valuation of the property! Is that  normal to work as quick?

I got this too, but then later found out that the valuation had been placed on hold due to backlogs. I think some lenders do instruct right away but it doesn't necessarily mean that all the other checks are complete

Holy crap. Got a call of the Broker today who says that valuation has been completed.! She was very surprised at how fast they were moving. She says you can expect an offer in the coming week. Here is hoping she is right!

ayvamummy

Wahoooo! I’m able to add to this post!

APPLICATION TO OFFER- 7 DAYS!! 

Virgin money online application. 

£250k house - Offer accepted end of may £215k - ( doer-Upper) 

10th June - DIP (hard search)- instant pass £204k limit. 

10th June - Submitted full application  85% itv 

12th June - emailed application form to be signed sign and sent back. 

I emailed them requested docs ( payslips) over the weekend to them, also send form back special delivery 

15th June - (Monday)  - Full application delivered back to VM.

16th June - called to take product fee (£995) and tell me application will proceed to day 1 underwriting. 

17th June - ( my birthday!!) called  to tell me full mortgage is approved and offered subject to valuation and offer should be in the post once house valuation is ok,(she said expect delay in valuations).

17th June -EA emailed to me tell me valuation booked for Monday 22nd June

I’m super excited! Just hope nothing goes wrong! Had no broker and applied directly. 

lizhd

I got an update today. Valuation has been done on the house we're buying. HSBC did an automated valuation, which has come back as £12k more than we are paying for the property! I'm not sure how it works but I think that puts us in a different LTV bracket. We should get the final decision re the mortgage offer on Tues or Wed next week.

yelaro

@lizhd @caw379 got asked for more information, back down the pile I go 😭 any updates for you two from hsbc? 

lizhd

yelaro said:

@lizhd @caw379 got asked for more information, back down the pile I go 😭 any updates for you two from hsbc? 

Oh that's frustrating! I found out yesterday that HSBC did a desktop valuation, at £12k more than we're paying for the house (weirdly specific amount) so it's all good from that side. But apparently the underwriter still has to sign everything off so according to the broker it will be the first half of next week. So a long weekend of waiting...

clm187

TWIGLET1234 said:

clm187 said:

We’ve been told our application has passed through initial assessment (whatever that means) and is now with The underwriters which at the moment is taking 2 weeks. I’m so anxious about it. Why do they take so long!! 😂😂

I'm now at 3 weeks since application and my case has been with the underwriters for the most part of this. They keep firing questions off to us, we answer, and then we are at the back of the queue again. Each time I expect to hear if we are approved or declined, I get more questions. A very slow and nail biting process this mortgage business!!

Any news today? 

TWIGLET1234

@clm187 nope! I’m thinking Monday now 

clm187

TWIGLET1234 said:

@clm187 nope! I’m thinking Monday now 

It’s going on for so long now  

caw379

lizhd said:

yelaro said:

@lizhd @caw379 got asked for more information, back down the pile I go 😭 any updates for you two from hsbc? 

Oh that's frustrating! I found out yesterday that HSBC did a desktop valuation, at £12k more than we're paying for the house (weirdly specific amount) so it's all good from that side. But apparently the underwriter still has to sign everything off so according to the broker it will be the first half of next week. So a long weekend of waiting...

Ah thats good about the valuation. Yeah we are in the same position, hoping for news early next week. We just don't want them to come back with even more questions