Am I ever going to get this mortgage

FairyPrincessKimberley

:mad:

So after being messed about by nationwide for weeks. We abandoned ship and applied to Barclays this is my timeline:-

23/1 - DIP accepted then applied for mortgage
24/1 asked for more documents in the morning then by 3pm mortgage was agreed subject to valuation.
27/1 valuation done
30/1 valuation recieved and under review
31/1 expect offer to come up on the system.....

i thought after the mess of nationwide this is too good to be true,,,

Now i get an email from my MA saying

"Your case has been picked up for internal audit. They pick cases at random to assess. They could come back and ask for further information but this is not usually the case. The case was sent over yesterday. There is no time scale for them getting back. She said if we have not heard anything in a couple of days to give them a call."

Should i be worried? I'm a FTB and so far I've just had the most awful experience. How common is this? or has anyone had this random audit after the valuation and received the offer quickly after? I'm just so scared i get declined now... the help to buy cut off is March 31st for houses in my area so this is my only shot

David_White

What was the issue with Nationwide as perhaps Barclays have stumbled across the same problem?

FairyPrincessKimberley

David_White wrote: »

What was the issue with Nationwide as perhaps Barclays have stumbled across the same problem?

Nationwide kept requesting a new document then would take 1 week to look at it then come back and request another and the same again- they then made such a mess of it and ended up coming back to me and saying they couldn't prove my deposit even it was sitting in a nationwide savings account and they had a copy of the saving statement and on that note i bailed.

Barclays said that they had assessed all my documents and credit report etc and it was good to go this is why i am confused at this stage just before they send out the offer... its being randomly audited?!

Jaspercat17

We're similar boat now with another lender, they've asked for more wage slips after all the valuation had need done. I'm worried this isn't going to happen. Hope you find out something soon.

Newbie78

Oh this doesn't seem like a wait at all, we didn't get our offer till a month after the full application went in


Leeds BS would ask for something and not look at it till days later, now that was what I call a wait


It's been a week in theory, and offer subject to valuation was agreed in a day! Wow If only ours had been that quick!

JoeT88

I think with everything with human involvement its how long is a piece of string.

after reading through a great deal of threads and comments, there certainly does not seem to be staunch trend in time scales and what they ask for:

some are really quick without hassle for people who have declared not that good a credit, to people with self declared great credit being asked for documents upon documents, and everything in between and in reverse also.

i just keep thinking there is a bloke or a lady like me wandering into work today looking at a pipeline of proposals with mine in it, going ahh i will do that later im going for a coffee hahah!

yours sounds as though all will be fine, and good luck

David_White

Have you got any credit issues in the background such as defaults?

FairyPrincessKimberley

David_White wrote: »

Have you got any credit issues in the background such as defaults?

No i have no defaults/ccjs/bankrupcy none of that neither does my partner we've checked all 3 CRA reports ! Which is why im panicking more as i cant figure out why they are doing this! :eek:

FairyPrincessKimberley

Newbie78 wrote: »

Oh this doesn't seem like a wait at all, we didn't get our offer till a month after the full application went in


Leeds BS would ask for something and not look at it till days later, now that was what I call a wait


It's been a week in theory, and offer subject to valuation was agreed in a day! Wow If only ours had been that quick!

Lol well after nationwide wasting weeks and weeks of our time we did think wow barclays im impressed with the pace of everything,,, but now im like oh here we go again! why is it so hard for regular people to get small mortgages we are borrowing way below affordability! *scratches head*
Glad yours all came through in the end!

FairyPrincessKimberley

Jaspercat17 wrote: »

We're similar boat now with another lender, they've asked for more wage slips after all the valuation had need done. I'm worried this isn't going to happen. Hope you find out something soon.

Thanks same to you too!! people keep telling me not too get worried or stressed and its like but we are at a stage in our lives we really need to own a place to start a family and i dont want us having to waste another year of renting! :cool: good luck!

ACG

Sometimes it just happens. If they are requesting documents, they are not saying no. I would rather an underwriter ask for 10 documents and accept than 0 documents and decline.

Im not trying to make brokers sound better than we are, but this is where a broker tends to help. If I ask a customer do they want the cheapest rate or the easiest lender (assuming the cost is with £10 a month difference) 99% of the time for a purchase they will say easiest.

As an individual, most tend to go for cheapest.

trust your broker, audits happen. I have had 4 audits in my time as a broker, only one was overturned and declined - I still disagree with that as the lender changed their criteria after the application was submitted, but in the main if the underwriter has done their job, there is nothing to worry about.