Kensington Mortgage application timescale

mrsrielly

Hi! So we got our mortgage offer last week, our application went in 14th January, Kensington asked for more documents a few different times then there was a delay as they wanted our house we are in at the moment on the market so there was around a week and half lost due to that. 

I would likely say if the documents are all ok and it is just down to the valuation then yes it should be ok, our broker also told us that they wouldn't instruct the valuation if they were going to say no as they have to pay for that.

Just keep thinking positively and calm even when they ask for more documents! 

mrsrielly

I will put a timeline of our application as that might help people, I found it helped me when I was not so patiently waiting!

26/01 - Application Submitted
08/02 - Kensington asked for a new Solicitor that was on Kensington's panel and had a minimum of 3 partners at the firm (the original solicitor we picked only had 2 partners and they also required Business Bank Statements from my husbands business (this took nearly 2 weeks to receive from the Bank as they required paper copies)
03/03 - Kensington wanted a Tax Year Overview to go with husbands SA302, valuation booked for 07/03
07/03 - Valuation carried out
08/03 - Told documents had all been accepted and valuation was satisfactory too
09/03 - Told that our current home required to be on the market so I organised Home Report and Estate Agent 
16/03 - House put on the market and Home Report and link to marketed house sent to Broker
18/03 - Mortgage Offer! 

Hope this helps someone

missCelt

Reading some of these posts is giving me hope. 

After being refused by high street lender my broker suggested Kensington.
3rd May, got my DIP. Broker advised seller would have to pay for a new home report as the one we had was 6 months old. 
4th May, full application was sent with documentation. Asked the same day about previous landlord details. (I’m in arrears due to covid issues)
5th May, credit file shows hard search from Kensington. 

16th May, broker contacted me to say Kensington have received the report and he will be in touch as soon as the mortgage is approved.
I’m nervous as they haven’t asked for any more documentation or clarification and it seems to be a theme on here. 

Is it a good thing or bad thing to not be asked for any more documentation? 

missCelt

Just to edit previous post, it is March, not May. Autocorrect 🙄

kppeanut09

Mortgage offer received! So happy 😀 

Star194

Hi, 
We processed our application yesterday but I have been reading some of the comments on here. What is the criteria for solicitors? I’m beginning to worry because we have started the process with solicitors and neither Kensington or our solicitors have mentioned it. I’m just assuming it will be ok but I’m overthinking it now! 

mah0109

Star194 said:

Hi, 
We processed our application yesterday but I have been reading some of the comments on here. What is the criteria for solicitors? I’m beginning to worry because we have started the process with solicitors and neither Kensington or our solicitors have mentioned it. I’m just assuming it will be ok but I’m overthinking it now! 

I’d also seen a few people mention it but 3 weeks into our application…..solicitors haven’t been brought up. 

They’d a pretty big firm and I’d be surprised if Kensington took issue with them. I think they’re just not too keen on smaller firms (but that’s the extent of my knowledge on the subject)

Star194

Thank you! Its just the waiting isn’t it, Its giving me time to think of every negative possibility!!

Noneforit999

mah0109 said:

RRS1999 said:

Hi there we have full application in with Kensington 1 week ago and today we have been told that the valuation has been instructed and planned for Wednesday this week 

Is this a good sign that all the documentation, questions and answers supplied are all OK with the underwriter and now it just comes down to the property valuation ?

My understanding is that the valuation is instructed upon receipt of the application.

Not always. Our buyers are using Kensington and the valuation was only instructed 4 weeks into the application.

We are on week 6 or 7 now and they still don't have a mortgage offer.

They are going a BTL on their current house so need a remortgage and then another mortgage on ours so its taking a while.

Frustrating as a vendor though because I am reluctant to spend too much money on conveyancing etc until they have an offer. Our solicitor is chasing me to pau the £425 for the management pack for our house but I am not doing that until they get an offer, hardly my fault they picked a slow lender.

Olivia42

5 weeks in, pretty much about to get our offer as they had all info and valuation was ok, then our seller pulled out! So frustrating and upsetting. There is not really anything alternative for us currently on the market either