What does it mean when underwriter has signed off documents?

Jaystarrr

Been a long time lurker but I thought I'd write here about my process.

FTB trying to purchase a new build flat on SO 50%. We put in a deposit of 22% (an odd number but they suggested it based on affordability). We both have combined income of £50000.

23/11/15 spoke to broker
23/11/15 DIP with Barclay's. All seems OK
01/12/15 full application made
01/12/15 all documents submitted
We received a text from Barclay's that app is being processed with track it login details. Logged in and absolutely nothing apart from a tick next to valuation is being instructed and that that will let me know from when.
04/12/15 esurv text saying valuation completed
Nothing on track it and no text on update.
07/12/15 contact broker as to why we haven't heard from Barclay's.
07/12/15 broker called back saying problem with address on survey which is being rectified.
07/12/15 broker contacted us saying 48 hours for valuation to be ammended and 48 hours to be reviewed.
07/12/15 email from broker saying all documents "signed off" but waiting on valuation.
Still nothing on track it and stuck on 'valuation being instructed' despite this already being done. :mad:

What does this mean? I feel I've contacted my broker far too many times and a little embarrassed as I don't actually understand what this entails. Will my entire application get underwritten again? I hope not as I am extremely nervous. Need to get out of parents place as me and my baby struggling with 9 other people in a 4 bedroom house.

amnblog

Don't be afraid to ask your broker if you do not understand anything, that is what he/she is there for.

Sounds like is it all good waiting for valuation.

Jaystarrr

Thank you amnblog. Been having a pretty tough time over the past two years and I worry about every little thing. I've been reading some horror stories on here as well as some promising stories. Hope I cab be one of the latter!

amnblog

Please don't come on here and say 'everything went smoothly with no hitches'.

Jaystarrr

Lol I won't if it does happen. I just had a specific question regarding the underwriting. And it'll be a lie anyway as it was extremely tough getting to this stage! I always get a little envious reading the positive stories!

Thrugelmir

Jaystarrr wrote: »

04/12/15 esurv text saying valuation completed
Nothing on track it and no text on update.
07/12/15 contact broker as to why we haven't heard from Barclay's.
07/12/15 broker called back saying problem with address on survey which is being rectified.
07/12/15 broker contacted us saying 48 hours for valuation to be ammended and 48 hours to be reviewed.
07/12/15 email from broker saying all documents "signed off" but waiting on valuation.

Texts are supposed to keep you informed. Not create additional work for all concerned. The 4th was Friday and the 7th Monday. You aren't the only people applying for a mortgage. So chill out a little, try taking up yoga. Allow people some time to their jobs. As your chasing isn't going to speed the process up.

You are only at the beginning of the process. So you'll need your energy for the days ahead. Property transactions are more often or not extremely stressful. Without self infliction.

Jaystarrr

Still waiting for news about mortgage. The valuation had to be redone due to wrong address on report (new build so a brand new address and some discrepancies). However, the lender is having issues accepting the new valuation so broker has been in constant contact. Apparently we gave them the wrong details but broker is adamant that it was correct and showed proof.
I have a great broker, just shame about the issues with lender but understandable. It is their money after all!