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

moo313

I am currently undergoing a remortgage dea with Natwestl so I can purchase the remain 50% share off my housing association (its a shared ownership property) This is my current timeline

• AIP issued: 17th June (Full credit check performed)
• Application Submitted: 18th June (Soft credit check performed)
• Valuation: 25th June
• Natwest requested additional docs confirming my annual salary and apartment service ground rent charges. Both submitted on the same day: 26th June
  
• Natwest informs me the service charge causes me to fail the affordability requirements and made a revised offer. Mortgage broker advised me reducing my credit card debt from £3000 to at least £1500. This will make the pass the affordability requirements. I agreed to this. Broker informed Natwest of this: June 27th

So far I am waiting on feedback on Natwest if they will agree to my offer to reduce my credit card balance. I did offer the mortgage broker. I am more than happy to pay off the entire balance. The broker told me there isn't a need to as a 50% reduction should pass the affordability assessment. He also mentioned he is surprised that Natwest now takes in service charges as part of their affordability calculations.

clm187

We are still waiting too. AIP received on the 8th June. Application in on the 10th.
 I’ve been told it’s 5 days for the initial assessment. Then up to 2 weeks for under writers. 

16th. Hard search 
17th over to underwriters and additional info uploaded. 

Heard nothing since. 

2 weeks is up on Wednesday. 

I can’t take this wait anymore!!!! 

Creditfixer3021

clm187 said:

We are still waiting too. AIP received on the 8th June. Application in on the 10th.
 I’ve been told it’s 5 days for the initial assessment. Then up to 2 weeks for under writers. 

16th. Hard search 
17th over to underwriters and additional info uploaded. 

Heard nothing since. 

2 weeks is up on Wednesday. 

I can’t take this wait anymore!!!! 

Who is the lender?

clm187

Creditfixer3021 said:

clm187 said:

We are still waiting too. AIP received on the 8th June. Application in on the 10th.
 I’ve been told it’s 5 days for the initial assessment. Then up to 2 weeks for under writers. 

16th. Hard search 
17th over to underwriters and additional info uploaded. 

Heard nothing since. 

2 weeks is up on Wednesday. 

I can’t take this wait anymore!!!! 

Who is the lender?

Buckinghamshire Building Society 

Creditfixer3021

clm187 said:

Creditfixer3021 said:

clm187 said:

We are still waiting too. AIP received on the 8th June. Application in on the 10th.
 I’ve been told it’s 5 days for the initial assessment. Then up to 2 weeks for under writers. 

16th. Hard search 
17th over to underwriters and additional info uploaded. 

Heard nothing since. 

2 weeks is up on Wednesday. 

I can’t take this wait anymore!!!! 

Who is the lender?

Buckinghamshire Building Society 

I can’t get my head around the length of time it takes to get a mortgage. 

I know it’s a big decision by the lender but surely it doesn’t take weeks/ months to check documents, credit checks and valuations. I know they receive 1000’s of applicants but it still seems so long 

clm187

Creditfixer3021 said:

clm187 said:

Creditfixer3021 said:

clm187 said:

We are still waiting too. AIP received on the 8th June. Application in on the 10th.
 I’ve been told it’s 5 days for the initial assessment. Then up to 2 weeks for under writers. 

16th. Hard search 
17th over to underwriters and additional info uploaded. 

Heard nothing since. 

2 weeks is up on Wednesday. 

I can’t take this wait anymore!!!! 

Who is the lender?

Buckinghamshire Building Society 

I can’t get my head around the length of time it takes to get a mortgage. 

I know it’s a big decision by the lender but surely it doesn’t take weeks/ months to check documents, credit checks and valuations. I know they receive 1000’s of applicants but it still seems so long 

Agreed! I just hope it’s not a no! Seems a long time to wait when surely they would have known a week ago? 

Memie

Creditfixer3021 said:

clm187 said:

Creditfixer3021 said:

clm187 said:

We are still waiting too. AIP received on the 8th June. Application in on the 10th.
 I’ve been told it’s 5 days for the initial assessment. Then up to 2 weeks for under writers. 

16th. Hard search 
17th over to underwriters and additional info uploaded. 

Heard nothing since. 

2 weeks is up on Wednesday. 

I can’t take this wait anymore!!!! 

Who is the lender?

Buckinghamshire Building Society 

I can’t get my head around the length of time it takes to get a mortgage. 

I know it’s a big decision by the lender but surely it doesn’t take weeks/ months to check documents, credit checks and valuations. I know they receive 1000’s of applicants but it still seems so long 

I agree we applied to Halifax by 16/6 I just don’t know what to think 🤔 

Process90

I gave up trying to contact/chase HSBC today. A good hour spent trying to get through. It’s ridiculous. 

adierei

heston2014 said:

adierei said:

heston2014 said:

Hi,

Submitted an application to HSBC yesterday, but unfortunately, had missed one of main expenditure on the form. It went to “Decision obtained” and full credit check, I tried updating it but there was a fatal error on the online application. So I rang customer services and was advised to submit a new application and first one would be cancelled. Did that and it’s gone to “Decision obtained” status again. Solicitor and valuation option provided, but as it’s a joint application, under “who’s applying”, it’s showing my husband’s status as “awaiting details”. 

We haven’t received any request to upload documents yet, I’m confused why it’s showing “Decision obtained” AND “Awaiting details”.

My husband is going to log in to check his details, in case something’s holding things up.
Why would it say “Decision obtained” at this stage? 

I can also see two hard search on my credit file from the two applications yesterday. So not sure what to make of it, as surely, no one has looked at our application that quickly?

I think the hard search is automatic rather than by a person. We had hard searches before underwriting and then 4 soft searches about 3 days before we got our offer subject to val. 

The details for the second applicant come through the post (we applied on a Thursday and they came on the Monday). The second applicant then has to ring and activate their details. Once that happened, our application went from decision obtained to application under review. 

adierei said:

heston2014 said:

Hi,

Submitted an application to HSBC yesterday, but unfortunately, had missed one of main expenditure on the form. It went to “Decision obtained” and full credit check, I tried updating it but there was a fatal error on the online application. So I rang customer services and was advised to submit a new application and first one would be cancelled. Did that and it’s gone to “Decision obtained” status again. Solicitor and valuation option provided, but as it’s a joint application, under “who’s applying”, it’s showing my husband’s status as “awaiting details”. 

We haven’t received any request to upload documents yet, I’m confused why it’s showing “Decision obtained” AND “Awaiting details”.

My husband is going to log in to check his details, in case something’s holding things up.
Why would it say “Decision obtained” at this stage? 

I can also see two hard search on my credit file from the two applications yesterday. So not sure what to make of it, as surely, no one has looked at our application that quickly?

I think the hard search is automatic rather than by a person. We had hard searches before underwriting and then 4 soft searches about 3 days before we got our offer subject to val. 

The details for the second applicant come through the post (we applied on a Thursday and they came on the Monday). The second applicant then has to ring and activate their details. Once that happened, our application went from decision obtained to application under review. 

Had to ring HSBC on Saturday to reconfirm my husband's details, our first application had to be cancelled due to a fatal error.  The second application required confirmation again as it's a joint application. Today, we received a link to upload documentation. So far, latest payslips, proof of bonus and pension contributions were asked to be provided.
So our timeline so far:
23/05 - DIP obtained
26/06 - Offer accepted on house
26/06 - Full application submitted twice due to an error, two hard searches showing on credit file
27/06 - Confirmed joint applicant details
29/06 - Received email with link for uploading our documentation

Waiting for the next step, keeping everything crossed. 

That sounds stressful. We had a problem with our online log in details and kept being told different things by HSBC (one of those things was a fatal error) but it seems ok. Did they give you any indication of timeframe? 

I’ve not had word on a valuation yet, a bit less stressed now that we’ve been approved subject to valuation but just want it done and dusted as I will find things to worry about until we’ve moved in! 

Hope you’re not waiting too long 

clm187

I just hope that if we’ve got this far down the line it’s good news. You’d think if we’d failed something they would make us aware immediately!