Abbey/Santander application - Delay

Eviesmummy

chriskellym86 wrote: »

Well done, you are finally there. My valuation is today! Hope to get my offer later today or early next week. Such a long stressful process

Good luck for today, I hope you get a quick response.

brenda10

Eviesmummy wrote: »

23/3/14 - AIP
24/3/14- full application submitted
3/4/14 - more info submitted
15/4/14 - approval pending valuation
22/4/14-valuation at 8.30am, approval 11.30 am

I've not received confirmation through the post yet though.


So a month exactly and that includes 10 day delay for info that our broker should have submitted in the first place, and a 3 day bank holiday in between. I don't think that's bad at all. But my application went in just before the extra MMR checks came into place (phew!)

A slow process:
AIP early march
House viewed 14th march, offer accepted
Mortgage application submitted 19th march
Sols on board -told to do nothing until mortgage confirmation
Info submitted as requested
27th March With underwriters......
more info several times from there until last week
proof of deposit, if boyfriend any part in mortgage=no
etc etc
back and forth to underwriters
last info requested 14th April
and today at long last
MORTGAGE APPROVED with Abbey through L&C.
JUST OVER 5 WEEKS from application to approval, Abbey value house after mortgage confirmation so lets hope nothing changes to complicate things
Next step valuation visit date to be confirmed!
Only prob is sellers of the house I am buying are waiting on other family to move out of house they have bought....my sellers have been informed my mortgage has less than 6 month, actually never told sellers mortg not through at that stage, so they are now actively relooking as they want to move on and we want to move in and they want us to have their home=we are nice couple and now friends of our sellers, they are nice people as are we.
We have 2 months notice to give on our rental property and off on holidays for 2 weeks in middle of all as we had not planned to buy a home(renting for 6 years though to save for deposit) so fingers X'd


Thanks for every1's help and if I can help in anyway just ask.
Solicitor fees all in costs to be £2690 for 190k property so happy with that so far.


Well done to every1 and it is a game of patience.

Chyna81

Hi All,

Thought I would update you.

28/03 Viewed property and placed offer.
31/03 Offer accepted.
03/04 Mortgage agreed in principle with Santander via MA
03/04 Full application made all documents sent via MA
03/04 Documents with assessment team.
15/04 Documents gone to underwriters.
21/04 Outstanding documents.
24/04 Documents gone to underwriter
25/04 Mortgage Approved - Awaiting Valuation :j

brenda10

BeauLiLuLu wrote: »

That would be far too easy! :eek:



I feel the pain!



This is my biggest worry too... :(:(

As much as I love a Bank Holiday, the wait has been painful!!!

It is a slow process but gets there in the end, now waiting on written confirmation Good Luck.

Rmphotography

we had aip agreed on 25th February
More info requested mid march.
More info requested again
Off to underwriters
More info requested
Back to underwriters
More info requested
Business development manager now speaking to underwriters to get them to reverse a decision they made about wife's wages.
Been a very testing time

chriskellym86

Got the offer to solicitors today, going in tomorrow to sign. They said will get keys next Friday. Phew! If you are waiting on your broker or the bank, pester them and ring the bank too to check progress.

Eviesmummy

chriskellym86 wrote: »

Got the offer to solicitors today, going in tomorrow to sign. They said will get keys next Friday. Phew! If you are waiting on your broker or the bank, pester them and ring the bank too to check progress.

Congratulations!:j
I'm still waiting on my searches to come back, I sent the info and paid for them on the 22nd so probably still another week to given ANOTHER BH this weekend. My seller is also stalling their sale slightly (bad survery on the property they are buying - needs 16k of work doing to it and their seller refusing to even negotiate on price) They are going through with it as they love the house, but they arn't telling the vendor that until their paperwork is all ready to sign - making them sweat lol

BeauLiLuLu

brenda10 wrote: »

It is a slow process but gets there in the end, now waiting on written confirmation Good Luck.

I've cancelled my app with Santander now, and gone with another lender - who in 5 days has approved me and my survey has been done!

Rmphotography

BeauLiLuLu wrote: »

I've cancelled my app with Santander now, and gone with another lender - who in 5 days has approved me and my survey has been done!

Do you mind me adding who you have gone with as we are just about to cancel if we don't hear anything definite soon and we need a speedy turn around due to all the wasted time

essex.cyclist

Hi everyone - I'm joining the 'Santander club', having had an offer accepted on a property and instructed my mortgage broker to start the process for the mortgage.


He says he'll have a decision on the Agreement in Principle by tomorrow, and if all is okay, it'll take 7-10 days for a final decision. Sounds like it might be longer, from reading the stories on here!


I am particularly nervous, but then I am usually worried about most things.


Our affordability has been checked, and our documents stack up in terms of having the money for the deposit, having the income we claim etc.


However, the MMR has made me concerned, because it's a bit of an unknown.


I was a little silly and lived in an overdraft for a while, but realised a month ago that this would look bad and so paid it off and have lived in the black ever since. I'm not sure if that will be a problem.


Has anyone had any experience of the new regulations affecting things?


Here's hoping things go okay and we get the house. I anticipate several weeks of nervousness


Jason