Kensington Mortgage application timescale

Clelja2442

ecoco said:

Just thought I’d update -

They’ve declined our application on affordability, We’re both self employed.  

We gave them a years worth of bank statements to prove our income and the standard HMRC docs, but they were expecting us to earn the same amount each quarter, which doesn’t happen with the nature of our businesses.  We jumped through every hoop, proved what they were asking of us but even at appeal they still declined.  They actually declined the appeal by saying we needed the last 3 months statements backing our income figures, which they did and we provided 🤦🏼‍♀️

So yeah, not quite the human approach they promise with our case! 

Oh no! I am so sorry to hear this. I hope you let broker can find another lender for you!

SDA1985

Long time Lurker, just wanted give everyone my experience with Kensington and to say whatever the situation do not give up hope, I have 5 defaults unsatisfied totalling £8912 and 2 CCJ unsatisfied totalling £2105 (3.7 years old) 

DIP : 27/04/22
Application Submitted : 29/04/22
first set of queries : 04/05/22
2nd set of queries:08/05/22
valuation booked for: 26/5/22
offer received: today (30/5/22)

Just want to let everyone now that yes they come with questions and can take there time but they are there for a reason and be patient

Clelja2442

That is brilliant - congratulations. We submitted our application a couple of weeks ago, we had one set of questions 48 hours later and the valuation was instructed. The valuation doesn’t take place until next week but we haven’t heard anything since the initial query 48 hours after our application. Hope that is a good sign!

mrso2012

Im a bit late to the party but thought I’d join while we await our mortgage offer 😬

1/5 got our AIP 💷

5/5 🎉OFFER ACCEPTED!! 🎉 

13/5 mortgage application went in 

19/5 questions from Kensington just about OH’s work pattern, & some one off payments on my bank statement

31/5 valuation 

Now we wait, the last update I had from my broker was that the valuation was booked, all affordability checks were done and satisfactory, they were just waiting on a landlord reference? 

The valuation took place today so I’m hoping it’s soon we find out if we’ve got the mortgage or not so I can sleep at night again! 

Clelja2442

That sounds promising mrso2012. I am assuming our affordability is ok as they haven’t come back with any queries?

NR231213

Hey everyone I’ve been lurking a while now to see what’s been happening with everyone’s applications 👀

here’s ours so far 

30/3/22 AIP

Qualified offer acceptance 16/5/22

Mortgage application submitted 17/5/22

First round of questions asking for landlords email address and husbands P60 19/5/22

second round of questions asking to see proof of deposit (which was already sent 😅) 25/5/22

Valuation carried out 26/5/22 ….

Now silence … the wait is killing me 😭

mrso2012

Clelja2442 said:

That sounds promising mrso2012. I am assuming our affordability is ok as they haven’t come back with any queries?

Fingers crossed - it’s consuming my every thought at the moment! The short week this week doesn’t help either 🤣 

I’m not sure but my broker said they’ve been pretty quick lately with asking for queries if they’ve had any. I was expecting a lot more questioning by now but the few questions they asked were really simple. 

Clelja2442

mrso2012 said:

Clelja2442 said:

That sounds promising mrso2012. I am assuming our affordability is ok as they haven’t come back with any queries?

Fingers crossed - it’s consuming my every thought at the moment! The short week this week doesn’t help either 🤣 

I’m not sure but my broker said they’ve been pretty quick lately with asking for queries if they’ve had any. I was expecting a lot more questioning by now but the few questions they asked were really simple. 

Same here - they asked two really simple questions 2 days after our application went in and we have heard nothing since. We know the our sellers have the valuation booked for next week but that is it.

mrso2012

Update from our broker today that they spoke to our underwriter this afternoon who said that following the valuation, we'd have a decision by close of play Monday 

ARGHHHH how am I supposed to get anything done Monday now, going to be a LONG weekend 

NR231213

I’ve heard wine helps 😂😅

we still have no decision yet they said a file didn’t come through on their system properly so we were told it had been escalated and to be gone over on Monday also 😫 need to keep busy so it goes in fast!