Concerned I may not get a mortgage

Teaandtoast0124

Nationwide are ringing me up on the 2cnd to go through the dip. Got a feeling im not going to get it. Its a sole application (banks love joint application) and i had a lot of payday loans in 2011-2012. No defaults or debt though.

gestion

I had a lot of pay day loans, mostly in 2011.

Even a couple that defaulted, in fact.

It wasn't brought up.

Ours was a joint app. Worth noting, though, that my wife's income is about £500 a month so in the grand scheme of things in terms of income that wasn't really significant.

Teaandtoast0124

Thanks for your reply. What are you wAiting on to proceed your application?

gestion

Picking a product and applying for it on Monday. I don't know how long that takes exactly but for the reasons mentioned it should be quite straight forward.

Why aren't they calling you until the 2nd? That seems like quite a long wait.

Thrugelmir

gestion wrote: »

N
Finding it quite frustrating that in this day and age, companies won't accept electronic copies of things.

Documents can be edited very easily.

gestion

Indeed. But that applies to electronic copies or printed copies. There was nothing special about the SA302 that I received. It was just black ink on white paper. If a person was so inclined, they could forge that.

That's why it's madness.

But, hey ho, they got to do what they got to do, as defined in their procedures.

Once the HMRC posted the documents I requested, it took 2 days. Problem is it took them 7 days to post it. It wouldn't be so bad if things weren't so bureaucratic that it takes a whole week for one person to print one document and put a stamp on it. But, of course, one person ordered it, it probably went to someone else to approve it, and then another person to print it, then placed in a box for another person to collect it for another person to then put it in an envelope/frank it/stamp it for another person to then pick it up.

Crazy, really.

Thrugelmir

gestion wrote: »

Indeed. But that applies to electronic copies or printed copies. There was nothing special about the SA302 that I received. It was just black ink on white paper. If a person was so inclined, they could forge that.

That's why it's madness.

If you take it that extreme then yes. However really not comparable with everyday amateur forgery. Which is far more common as people attempt to adulterate figures. Quite rightly therefore that lenders take steps to minimise the risk.

Teaandtoast0124

Thats when there available for application

gestion

Full application was submitted today and valuation fee paid. Does anyone know, roughly, how long it will now take for that to be completed and the full mortgage offer to come through?

kingstreet

Not without knowing when the valuation might be done.

Anything from three days to three weeks would be best guess.