Kensington Mortgage application timescale

housebuyer143

Just found this for Kensington. Turns out the valuation is one of the first things they instruct, so that's no indicator that you will get the mortgage 😭

iViewTV

Are Kensington currently offering 95% LTV Mortgages? got 2 defaults older than 3 years so wondering where i possibly stand.

danielleb91

iViewTV said:

Are Kensington currently offering 95% LTV Mortgages? got 2 defaults older than 3 years so wondering where i possibly stand.

Yes they do, we are currently going through the application for a 95% mortgage. I think if your defaults are older then 3 years then they won’t affect your application with Kensington but not 100% sure. We had 1 late credit card payment about 2 years old which they didn’t mind. 

connieee3

connieee3 said:

Needsadvice13 said:

We’ve received our offer!!!! Can’t believe it 🍾🎉🎉🎉

Amazing news. Well done and congratulations

Hey have  you received your offer in the post yet?

Needsadvice13

connieee3 said:

connieee3 said:

Needsadvice13 said:

We’ve received our offer!!!! Can’t believe it 🍾🎉🎉🎉

Amazing news. Well done and congratulations

Hey have  you received your offer in the post yet?

It arrived this morning! 😊

Happydays127

Nice surprise this morning as we got our offer! It’s been a very stressful few weeks! I’ve got to be honest! 

My MA didn’t even let me know the valuation had been done, so I was in limbo really. 

Good luck to everyone awaiting a decision x

kazanp

Late comer to the Kensington trail... we always had valuation done and sent everything they've asked for including employers emails. Such a stressful time waiting.

housebuyer143

danielleb91 said:

iViewTV said:

Are Kensington currently offering 95% LTV Mortgages? got 2 defaults older than 3 years so wondering where i possibly stand.

Yes they do, we are currently going through the application for a 95% mortgage. I think if your defaults are older then 3 years then they won’t affect your application with Kensington but not 100% sure. We had 1 late credit card payment about 2 years old which they didn’t mind. 

Any offer yet? Mine is still with the underwriter... My broker chased it and got told wait one week ago. 
The website says 23 working days is the average time for application to offer 🙄

housebuyer143

Happydays127 said:

Nice surprise this morning as we got our offer! It’s been a very stressful few weeks! I’ve got to be honest! 

My MA didn’t even let me know the valuation had been done, so I was in limbo really. 

Good luck to everyone awaiting a decision x

How long did it take in total for you? 

danielleb91

Hey @housebuyer143 no offer yet unfortunately, our employer references have only just been actioned yesterday/today. 
So I assume now we go back into the queue for the underwriter to review...praying that this is the last bit of information they need and that we get an answer this week! 

Our seller isn't expecting us to complete until Feb now but he is still a bit anxious (understandably so) that we don't actually have our offer yet... 7 weeks down the line! I think Kensington's website is a bit outdated with timelines haha.. that must have been pre-covid. Or maybe we are just the unlucky ones  

Fingers crossed you receive your offer soon enough x