Kensington Mortgage application timescale

feekerry

Our valuation was done today and valuer said he would get his report of by tomorrow. Yesterday the broker said they wanted a p60 which I had already sent but they had to submit again and today I was asked for a settlement figure on a loan that has to be on headed papers addressed to Kensington. That will take a few days at least to obtain

sterow

still waiting here.. broker going to chase again in the morning.. any one else had any further news?

feekerry

Our valuation was done last Wednesday. Broker messaged me on Tuesday asking for a copy of an email re a settlement figure for a loan and said this is the last item outstanding or required... so I am hopeful in 5 days or similar we may have something firm!

sterow

Did you get a copy of the valuation or confirmation of what they valued it at?

feekerry

No nothing although I was here when the valuer came (remortgage not purchase) and he was done in a bout 3 mins!
As long as I haven’t heard either way on the valuation I am hoping that is a good thing, broker didn’t mention it in her message, just that my email thing outstanding...

sterow

I have had an email off our broker and the offer is on its way apparently.. however we are still querying the rate that has been offered which is now 3.44, however was 2.89 to start with. Checking their site it looks it shoulld be 2.99 or 3,14 so lets hope ours comes down!

juliette0307

Not sure how they manage to stay in business. My AIP was late September, offer took 6 weeks for a simple straight forward remortgage. They then lost another 2 weeks reissuing the offer: they review all soft credit checks every 6 weeks, so If you use your credit cards, it will affect the balance. So they reduce the figure they offer, looking only at the credit cards going up, not the personel loans going down.
#It's now nearly Christmas, and I have given myself until the end of the week for them to move to completion or they can go and stuff their subprime antics where they should be.....
They also asked for extra survey because their surveyor saw a bit of condensation, noting there wasn't cause for concern but there was a bit of condensation (that's £250 of survey) but forgetting to mention the Transfer of Equity I had pre warned about since the AIP.....


And because they only work through intermediary, you can't talk to them, ever!!!

feekerry

Have to say I have found them pretty good. Took about 5 weeks from app to offer and towards the end they were assessing our documents same day. We are due to complete first week in January and we applied mid October. We could complete sooner but delayed so don’t incur a penalty with existing lender

Vneckjumper

Can anybody tell me how many months bank statements Kensington require if in salaried employment?

movingonup2018

After firstly being told by a rude woman at Countrywide Mortages that we would never get a mortgage (had no interest in actually trying to assist) and being let down by Aldermore we went with Kensington (via local Broker) and I was expecting a real hassle after spending hours reading this forum. However I was very pleased to receive our written offer within 2 weeks (this included us being on holiday just after we submitted application so would have been quicker). We are only using them due to us both being self employed with only one years account, no adverse credit, in fact pretty good credit history so I think that made the difference.

We sent and were asked for -
Three month bank statements (just for personal accounts not business)
Landlord details although they never contacted him
Details of house purchase (new build)
Help to Buy Authority To Proceed (this delayed things due to me not scanning a page properly)
SA302's and Tax Year Overview
Copy of passports

I was expecting loads of questions about everything and anything and the only thing they came back and asked for was proof of me living at my house for another year as they couldn't see it on the Electoral Roll, I sent them an old bank statement and job done.

Within a week of the application being submitted they had done the valuation and within two weeks we had the offer. To be honest I am still gobsmacked it was so easy. We did for three months beforehand amend our spending habits via bank statements, I did this by mainly using my Amex card for anything above low spending. I was worried they would ask for credit card statements as they could see balances but thankfully they did not. We also paid off all credit cards we could well in advance so they showed a nil balance on the credit file and I closed lots of accounts we were not using. I think it all paid off in the end and that is mainly thanks to this forum and lots of research, I wanted it to be as painless as possible. Now hopefully in a few years of further trading we can get a better rate with a high street lender.

It is also worth noting they only check Equifax, it states this on the offer and I also check all three agencies every few days and they definitely don't check any others which is useful information.

Good luck everyone, there is hope!