Virgin Mortgage Application

Irishgirleen2015

Hi all,
I am just checking if anyone else has gone through Virgin Money for a Mortgage application recently on a straight forward purchase and see how long it has taken??


Our survey was completed and results fine today. So they know this now. Just wondered how long it should take from here.
Im so impatient but I suppose I have a fear factor too.

We got the Decision in Principal on the 11th December.


At this stage what kind of things could have our application rejected. Originally it was send for referral to an underwiter as we are both self employed and they advised we need to up our deposit to 15% which we have agreed to. With an underwriter having said yes in principal rather than a computer deciding will this stand as a positive?


Nervous and anxious


we currently rent so only need to give a months notice

ACG

Theyre only taking around 24-48 hours to look at paperwork. So if you assume they get the valuation back tomorrow you should have an update by Thursday I would have thought.

amnblog

Occasional issues with VM post valuation, but you should be OK with an offer early next week if not this.

Irishgirleen2015

Hi thanks for the replies.


Are we in a better position seen as the underwriter dealt with the In Principal decision?

Jaxer

Just been through the application process with Virgin as a one-man company director (ie. treated as self-employed) as follows:

19 Nov 2014 : DiP received and full application made.
25 Nov 2014 : Accountants Report requested
26 Nov 2014 : Survey carried out (Homebuyers Report)
28 Nov 2014 : Survey came back with valuation at asking price and no serious issues.
2 Dec 2014 : Formal offer issued

It all went pretty smoothly in hindsight, although it was stressful getting the paperwork together for the broker as they were very specific in what they wanted. My broker was good and kept me in the loop.

Good luck!

Irishgirleen2015

thank you Jaxer.

Its nice to here from someone who has been through a similar process. yours seems to of gone really well. Heres to hoping ours does too.

Didnt think id be this anxious.

Id be buzzing to get the offer through this week so we can crack on with searches etc

Irishgirleen2015

would love some info today by post or something. I want to be in the packing up frame of mind ha.... oh these things take time I suppose.

M0ney

I'm currently waiting on a decision from them ATM too. Called yesterday and they said that they have everything they need, hopefully I will get a decision today or tomorrow.

I have my fingers crossed for you too. Good luck!

Irishgirleen2015

Fingers crossed all around M0ney.


Did they ask you for much or any info after your decision in principle??

M0ney

Not info as such but they asked for 2 payslips, 2 P60s (because my length of service with current employer is <1yr), employer's reference, bank statements, forget if there was anything else now.

Irishgirleen2015

Sorry I meant after the survey did u get asked for any additional docs???
Thanks for the reply