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

anteguardian

Hey everyone,

Like others in this thread I’ve also found this forum to be really helpful since me and my partner started buying our first home, so thankyou!

We weren’t actually going to start looking for our first home until later in the year, but came across the perfect property and would kick ourselves if we didn’t try and go for it.

Our journey so far:

08/06 - Went and viewed property.
09/06 - AIP w/Virgin successful (via Mortgage Broker) and put an offer in.

Sleepless nights begin... haha

11/06 - Offer Accepted,
12/06 - Solicitor instructed and had to reapply with a different lender for an AIP + Proper Mortgage application at the same time (via Mortgage Broker) due to Virgin being pulled from market.
15/06 - provided all documents for Mortgage and completed all paperwork.

The Mortgage guys have the valuation on the property booked in on 23/06!
Fingers crossed it all goes well... is it normal to worry about everything? Haha

onthemend88

anteguardian said:

is it normal to worry about everything? Haha

Absolutely! We have just got to the point of exchanging contracts and our completion date is the 17th July. Will be on tender hooks until we get those keys! 

templeofdoom

Hi everyone! 
Longtime lurker on here and its so nice to read of others who are in the same position, feel like things are even more nerve racking given the state of the economy and world at the moment  We are first time buyers buying a new build with help to buy so plenty to worry about there already. 
So this is our journey so far 
13/06 - Went for meeting and saw a floorplan and specs ect (its a new build so nothing to see yet  )
15/06 - AIP (via mortgage broker) accepted with Halifax, did all paperwork ect
16/06 - Instructed solicitor 
17/06 - Mortgage application submitted and valuation report instructed (no idea when this is being done)
18/06 - Authority to proceed from Help to Buy agent 
Now just waiting aaaaaaaaahhhh

anteguardian

onthemend88 said:

anteguardian said:

is it normal to worry about everything? Haha

Absolutely! We have just got to the point of exchanging contracts and our completion date is the 17th July. Will be on tender hooks until we get those keys! 

I honestly don’t know how people sell and buy at the same time and have a new found respect for them...it’s nerve racking enough just buying haha

Looks like you’ve come a long way... Home stretch now though, I’ll keep my fingers crossed for you!

Kiwistrawb1990

Meeeee!! Has anyone applied to Natwest recently? Any idea of timescales and processes etc? AIP and full application through our broker on Friday. Hard search showing on credit report from Friday too

lizhd

Monday again - back to waiting. I'm told I should hear this week, so am on tenterhooks.
Bumped into our buyers yesterday, they said the survey they had done on our house is back and is fine, so that's good news. Just want the mortgage offer so I can get on with instructing a surveyor to look at the house we're buying.
How's everyone else doing?

thePhilster69

Hey, been a long time since I posted anything on MSE, but this thread seems like the perfect thread to join, and share our worries and hopefully get some reassurance...

We're in Northern Ireland, and put out house on the market around the middle of May. At that point, the market in England had reopened officially, but not in NI. We chose that time because we had used lockdown savings and time to fix the few things up that needed fixing, and thought it made sense to get listed while the house still looked great. We weren't anticipating much action before July, tbh.

And then, we had a few socially distant viewings, a flurry of offers, and agreed a selling price AND a buying price all on the same day. Talk about stress!!

Since then, we've appointed solicitors, and have made our official application to Halifax (who gave us a DIP no problem) on a 85% LTV. I can honestly say I don't remember feeling this stressed when we bought our current house... but that might be because we were young and child-free back then!

So we seem to be in the same boat as most people here... just waiting... and hoping... and waiting... I guess the next step is hearing that Halifax have instructed a surveyor to check out the property. We negotiated a £20k discount on the asking price and the house is around 18 years old, so we're hopeful that this will fly through. But that doesn't make it any easier to wait!

Almostfree

Hi, can I join this thread? We weren't going to even look for a house until Jan/Feb next year (3 years since IVA discharge) but we saw a house that was perfect so found a wonderful broker who assured us we could be considered now. Our timeline:
Halifax DIP 02/06
Offer made and accepted 04/06
New work contract obtained 18/06
Application submitted 19/06
Valuation fee paid 19/06
Hard searches x 2 19/06

Our broker says we should hear back after the initial underwriting may Tuesday or Wednesday this week. I am so nervous. Our circumstances are a little different. I'm just at the end of my nursing degree, I'm on a temporary contract working in A&E (because of covid) and my permanent contract starts in September. We meet the lending criteria for Halifax, our broker has been through it with a fine tooth comb to make sure. But I'm still worried things could go wrong. We have no credit commitments except for £300 on my husband's credit card (£12000 limit) which will be paid before completion. The house is 70000 less than our DIP offered and we have a 15% deposit saved, plus an extra £13000 for improvements etc. The monthly mortgage payments would only account for a 5th of our joint net monthly income. I cant see anything wrong with the figures in terms of affordability, it's just our circumstances that might hold us back.

Almostfree

I've also just noticed a soft affordability search was done on 20/06 as well. Our online tracking with our broker is at read only as the advisor is updating it. I'm holding my breath so much it's starting to hurt 🤪

thePhilster69

@Almostfree Your application timetable is very similar to ours. Full application was made (and valuation fee paid) Wed 17th June, and Credit Karma shows 2 x Hard Credit Searches on the same day, as well as 2x Soft Credit Searches (1 for affordability) on the 18th. 

TBH, I wasn't expecting to hear back from Halifax for a few weeks (hence the nervousness) so the fact that your broker thinks you might heard back this week on progress gives me a bit of hope!