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

klloyd89

We put our application in on 30th april with nationwide. Waited from mid may until 17th june for a valuation. Still awaiting result from valuation. 
Been so long and  now another weekend of waiting!

minttie

We submitted our application to Santander via broker on 19/05. Broker was informed by lender that our case is now "referred on head office for review, no timescale on it, apparently could be up to 2 weeks depending on how many cases they have". This is somewhat expected as our case isn't the most straightforward. I actually felt relieved as I've read a few cases here where mortgage offer issued then withdrawn just before exchange or even after exchange when it failed the head office audit.

New build £234,995
20% HTB Equity Loan
18.7% deposit (3.8% UK saving, 14.9% overseas gifted deposit from my dad from non-EEA country)
61.3% LTV

I'm full time employed, currently on 20% pay cut but still working. Santander has factored 80% of my annual salary. OH is self-employed, affected by covid, and received gov grant. After submitting three years tax calculation, tax year overview, actual tax return upon request, Santander has factored 50% of the annual net profit. I think the complexity within our case is mainly due to the size of gifted deposit from non-EEA as well as self-employment status.

yelaro

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...

That’s brilliant they’ve done the valuation! Yes the waiting game is really not fun anymore. 

I’m not a fan of my MA anymore either, if I ask questions, answers are rather blunt and come across quite hostile. 

lizhd

yelaro said:

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...

That’s brilliant they’ve done the valuation! Yes the waiting game is really not fun anymore. 

I’m not a fan of my MA anymore either, if I ask questions, answers are rather blunt and come across quite hostile. 

Did you go with a local broker or one of the big online ones? We went with Habito after failing to get anyone from L&C to speak to me (we'd used L&C last time we remortgaged) and so far I've been happy enough with them. I am trying not to pester for updates too much, but to be fair they've kept me pretty well informed.

yelaro

@lizhd we went with someone local as they’d been highly recommended. I have pestered a total of 3 times in 25days since we paid and application supposedly went in and that’s because on two of those of occasions they said they expected to hear back by then. I’m quite good at seeing things from other people’s points of view and understand it’s a busy time but just feel the very valid questions I have asked are met with quite blunt and arrogant responses. Shame really as they are making this experience more stressful then it need be. 

Liamo3

Developer just called me to say that valution was booked yesterday for Monday. My case was passed to senior underwriter last Thursday after it was assessed by the underwriting team for review. I seen someone from the bank access my credit report yesterday again. Would you say this is a positive sign?

clm187

Liamo3 said:

Developer just called me to say that valution was booked yesterday for Monday. My case was passed to senior underwriter last Thursday after it was assessed by the underwriting team for review. I seen someone from the bank access my credit report yesterday again. Would you say this is a positive sign?

Absolutely 🤞🏻🤞🏻🤞🏻

lizhd

yelaro said:

@lizhd we went with someone local as they’d been highly recommended. I have pestered a total of 3 times in 25days since we paid and application supposedly went in and that’s because on two of those of occasions they said they expected to hear back by then. I’m quite good at seeing things from other people’s points of view and understand it’s a busy time but just feel the very valid questions I have asked are met with quite blunt and arrogant responses. Shame really as they are making this experience more stressful then it need be. 

Oh that doesn't sound good at all.

FunnyBunny85

Hi people,
long time lurker her but the anxiety is getting untenable so I need to just write it down where others can relate haha!

My dream home which should be perfect for me for a number of years became reavailable during lockdown so I bid straight away. That was end of April. 
It felt like just getting to an AIP took forever (sensibly my broker would not submit an application until confident the lender was happy with me too). 
So my (hopeful) lender manually reviewed my details was happy and all has gone along to valuation which was scheduled for last week. There was no fee on the valuation, the lender covered it so presumably that’s a good sign they wouldn’t do that unless they were still happy??
what is the difference between the AIP (that was all manually looked at, including bank statements payslips etc) and the offer? And what’s a usual timescale from a valuation to the offer? 

 

Creditfixer3021

Hi follow house buyers
Ive really found reading this forum very useful over the last week. 

We’ve taken the plunge and started the (attempted) buying process. 

Our timeline.

12/6 - found a lovely new build
13/6 - got an AIP with Santander - higher than the asking price of the house 
17/6 - offer accepted and decided to take advantage of the equity help to buy scheme 
18/6 - instructed solicitors 

19/6 - full mortgage application with Santander (via MB) approved subject to underwriting and valuation 
20/6 - the sleepless nights started 

I’ll keep you posted, not feeling overly confident