Kensington Mortgage application timescale

Leesabee1

Aberlourj said:

My MB put my application in last Friday and they asked the scariest of questions today including one about a credit card they said wasn't declared (even though it was and its on my equifax credit report) and for bank statements proving money deposited into my LISA was mine (so I've sent like 10 statements to them) and about credit lines opened in the last 12 months.

Should I be scared, or is this normal?

They ask the most amount of questions and can make mistakes in what they ask but it is normal. It took around 6 weeks for me from full application to offer. The waiting and questions will drive you nuts but it’s part of their process it seems

Aberlourj

Leesabee1 said:

Aberlourj said:

My MB put my application in last Friday and they asked the scariest of questions today including one about a credit card they said wasn't declared (even though it was and its on my equifax credit report) and for bank statements proving money deposited into my LISA was mine (so I've sent like 10 statements to them) and about credit lines opened in the last 12 months.

Should I be scared, or is this normal?

They ask the most amount of questions and can make mistakes in what they ask but it is normal. It took around 6 weeks for me from full application to offer. The waiting and questions will drive you nuts but it’s part of their process it seems

Thanks! I'm just pooing myself thinking the mortgage will get declined, as I feel that it's my only option.

I have been very clear and upfront with my broker though, so I imagine I should probably stop worrying about it!

kingstreet

Our latest Kensington app was submitted on 29 September. We've had requests for further information and we thought we'd finally finished on 3 November when an Accountant's reference was returned.

They have now decided they want a Landlord's Reference. Forty-two days after receiving the application complete with Landlord's name, address and phone number and they want us to ring the Landlord and get an email address for them!

Aberlourj

More information requested today on proof of deposit, which was annoying as I had two different accounts to move money in so had to explain every transaction in my LISA (including a £1000 of the government bonus, which completely boggled my mind as I'm sure they'd know that already?)

Time to looks at docs has significantly gone down now though!

robfranklin

robfranklin said:

Hi all, long time lurker here.

just curious around the stages and order in which Kensington do things in and would appreciate a bit of advice. 

Getting a remortgage with Kensington to consolidate debt, had initial DIP approved on 3rd of March, then full application submitted 8th and then follow up documents requested on the 12th.

Now have a valuation booked in for Monday 22nd. Can I check if this means I passed underwriting (with exception of valuation). Seems very quick considering what everyone on here has been saying!

thanks all.

Hi all,

Just wanted to revisit this post and share my own experience with Kensington. (positive!) 

They are slow and do revisit questions, we all know that, and they will likely ask for second proofs and such, and my journey took 6/7 weeks due to pandemic and other delays back in March for full offer, very stressful! 

However despite this, they did come through with an offer after all of that and have been reliable and their customer service now is simply excellent. It’s worth the wait and I know super stressful, but hold the line as they do come through.

Aberlourj

I have a LISA with Moneybox, Moneybox are in partnership with Investec and Investec hold the funds. For some reason Kensington are not accepting Moneybox statements as proof that the account is mine, they want Investec statements.

The problem is I dont get statements from Incestec, just Moneybox. Moneybox themselves have said noone has ever been unhappy with their statements.

Has anyone else had this issue?

danielleb91

Hi, 

I am new to this forum! I wanted to ask how the rest of you have got on with your mortgage applications with Kensington? 
Have you received your offers yet?

Me and my partner got our DIP on 26th November, full application submitted same day (if the broker did actually submit same day). We had back the declaration form and a form to sign because we are borrowing past state retirement age on 30th November. Which we signed and sent back the next day. But now its all gone quiet! No queries on any of our initial documents and no valuation scheduled either  

We were hoping to get our offer in time for Christmas but not sure if this is likely now... we have nearly lost the house we want to buy a couple of times due to delays (previous mortgage declined with Leeds BS). Any info on anyone else's timeline from application to offer would be greatly appreciated!

Thank you
Danielle

Needsadvice13

danielleb91 said:

Hi, 

I am new to this forum! I wanted to ask how the rest of you have got on with your mortgage applications with Kensington? 
Have you received your offers yet?

Me and my partner got our DIP on 26th November, full application submitted same day (if the broker did actually submit same day). We had back the declaration form and a form to sign because we are borrowing past state retirement age on 30th November. Which we signed and sent back the next day. But now its all gone quiet! No queries on any of our initial documents and no valuation scheduled either  

We were hoping to get our offer in time for Christmas but not sure if this is likely now... we have nearly lost the house we want to buy a couple of times due to delays (previous mortgage declined with Leeds BS). Any info on anyone else's timeline from application to offer would be greatly appreciated!

Thank you
Danielle

Hey! 

We submitted our full application on 2nd December and having a similar experience… Mon 6th they asked us to re-submit the customer declaration as the page number was cut off the bottom of the page during printing 😂 seemed pedantic but an easy fix… we sent that back off same day and it’s been radio silence ever since! 

Our broker did mention on the 6th that the valuation had been requested so not sure what that means for our application 

danielleb91

So frustrating! 
Our broker actually chased them today and has said things are looking good...whatever that means!?
We have been asked to provide proof of deposit so I'll need to get 2 recent statements for each savings account. 

And they have also asked for our shared ownership offer letter...nothing too major. 

Annoying they didn't ask for this stuff until our broker chased them... I hope you hear something soon @Needsadvice13

Needsadvice13

@danielleb91

it really is very frustrating! After reading this thread I was expecting constant requests for more information but don’t know what to make of the silence. We are due an update tomorrow so will keep this thread updated so others in the same position know what to expect! Good luck and fingers crossed for a positive outcome for you soon x