Kensington Mortgage application timescale

Bucky88

@kdickinson90 It is so annoying how long it takes. We were told today it was in fact the email sent by our solicitor over 2 weeks ago which made them as the question, which he answered in that email. 

Our solicitor asked for clarity on the question they have asked and basically they want to know if our developer (a well known developer who has 6 different sites ongoing in the north west alone) was to "do a runner" in their words who would pay for the upkeep of the roads/sewers. Our solicitor has informed them that it is in the pre-contract that the developers are responsible however if they go bust then there is a NHBC surety bond to cover the roads / sewers until the council adopt them. They said this isn't good enough apparently, our solicitor has told us they are being pedantic as everything is in place to cover us and them should the end of the world come around.

Its so frustrating as we have jumped when they have asked us too. Its more annoying this was put to them over 2 weeks ago now and it has taken them 2 weeks to raise it as an issue.

 

lauraclay1727

@Bucky88 @kdickinson90

I can't even imagine how frustrated you both feel with your applications. 
I really hope you get some good news soon.
I'm sure it'll all work out in the end and it's unfortunately just the process that isn't as simple and smooth as it probably could be for you.
My fingers are crossed for you both 🤞

Tatters26

Just wanted to check as our MA doesn't often deal with Kensington and isn't sure, but thought as much about Kensington:

 They're a lender who only go to valuation stage once they've done and completed their credit checks and happy with you? Some lenders get the ball rolling both ways from day one of the application. Kensington however do it very much in two processes; the people borrowing and then the property.

We were told today by our MA that Kensington have now instructed our valuation to take place (three weeks after applying for those wondereing) and that was very good news apparently, as Kensington don't do that lightly.

Anyone able to confirm?

Amysmith21

@Tatters26 I would say that's a good thing and they would look at doing that once they was happy with everything else. I know our valuation was done once all our paperwork got the ok. I don't know if others have had different situations where they have gone ahead and done it in the middle of checking paperwork side though. I would take it as a good thing

Tatters26

They actually did a u-turn after declining us last week on Wednesday! They seem a very temperamental company, which is why I'm still apprehensive. 

Amysmith21

Oh god! Bet that was all stressful! At least they have done a u-turn with it and moving forward with it, stay positive and I'm sure it'll all work out *fingers crossed*

colink24

Does anyone know how far back Kensington go to see accumulation of deposit? Around half my deposit was a gift from my sister, who doesnt own her own home. As Kensington requires any gifted funds to come from a home owner, I am curious if they will want to see how the deposit was built up from £0, or just last 3 months?

Thanks in advance.

lauraclay1727

@colink24 we were asked for 4 months bank statements for the savings account we had the deposit in. this didn't show the savings from £0 and they were happy with that. 
I would speak to your MA and decide what is best for you. whether you say it's from savings or gifted. 
Good luck with your application

Barron1992

Hi everyone, 

my application his going in today ! Having to use Kensington has my girlfriend as a CCJ for £17 against her on a phone contract when she was 13. What do you think about us getting good news from them ? 

Thanks 

jord411

Barron1992 said:

Hi everyone, 

my application his going in today ! Having to use Kensington has my girlfriend as a CCJ for £17 against her on a phone contract when she was 13. What do you think about us getting good news from them ? 

Thanks 

CCJ’s only stay on your credit file for 6 years 

Just took this from Experian 
A CCJ will stay on your credit report for six years, even if you pay it off during this time. After six years it will no longer appear on your credit report, even if you've not paid it all off by then.