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provider instructing survey, does this mean mortgage decision is a yes?
houseownerwannabe_2
Posts: 34 Forumite
Hello
I've never had a mortgage before so not sure how it works. Our adviser submitted our application this weekend and it has apparently passed. We had a DIP agreed last week and the yes is apparently on the full app. Survey is being instructed and needs paying but underwriters are not looking at it til next week. Is it still likely to be declined at this stage? I'm worried as I thought underwriter would check it before survey was done? The only thing that could hinder us is my partner has 3 weeks unpaid holiday last year when he was doing agency work but is now under a contract. I'm just a bit concerned it may affect it.
Thanks
I've never had a mortgage before so not sure how it works. Our adviser submitted our application this weekend and it has apparently passed. We had a DIP agreed last week and the yes is apparently on the full app. Survey is being instructed and needs paying but underwriters are not looking at it til next week. Is it still likely to be declined at this stage? I'm worried as I thought underwriter would check it before survey was done? The only thing that could hinder us is my partner has 3 weeks unpaid holiday last year when he was doing agency work but is now under a contract. I'm just a bit concerned it may affect it.
Thanks
0
Comments
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If the underwriters have not looked at your case yet, all it means is that you have passed the credit check. The underwriting has not been started yet.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Who is the lender ?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Many lenders now instruct valuation on application before they consider anything else so this is not indicative of anything.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
no, this is only the beginning of a mortgage process, your mortgage lender will still have to do further credit checks before you are approved0
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Credit checks? That will have been done on submission of the application.
The checks now are assesing bank statements and payslips etc.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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