Kensington Mortgage application timescale

Tealmummy

is anyone going through the process with Kensignton at the minute? im just so anxious and having someone to complain with might help lol

ive got 2 old defaults, both due to drop off within 12 months and 2 missed payments on my credit card from 2 years ago. personally i dont think its that bad but no high street bank will touch me.

ive offered on an apartment at £120k, got a 15% percent deposit- half of which has been gifted, i earn £31k so looking to borrow around 3 times my salary 

21/11/2023- dip
22/11/2023- full application
24/11/2023- they asked for me to sign a document, and my grandparents ID and gifted deposit form signed.

does anyone think ive got any chance here
i really dont want to give them my landlord details as hes awful but they could see on my statements 4 years of on time payments
what documents are they likely to ask for

pray for me haha

tryingtogetbackontrack

Just started our journey and so anxious too.  There doesn’t seem to be too many newer posts so hard to get a sense of what timelines are currently like 

Drlk

i am currently going through the process with Kesington, perfect credit history and score for me but partner has got 2 defaults in the past 3 years all fully satisfied in 2021 nd we've kept a clean slate since then. We have applied using our MA who recommended Kesington and asked for all sorts of documents in advance to be uploaded for our full application and my timeline is:

Dip - 23/11/2023
Full Application - 5/11/2023
Hard Search on both our credit reports- 6/11/2023
MA came back to go over our insurance and has gone completely dark since.
I tried to chase our MA who said our application is in order, within SLA and he is looking to get a valuation date.
Still no valuation date or any update from Kesington and MA and would appreciate some sort of update but I guess no news is good news. The whole house buying process is super stressful but I guess we have to be patient. 

Drlk

Drlk said:

i am currently going through the process with Kesington, perfect credit history and score for me but partner has got 2 defaults in the past 3 years all fully satisfied in 2021 nd we've kept a clean slate since then. We have applied using our MA who recommended Kesington and asked for all sorts of documents in advance to be uploaded for our full application and my timeline is:

Dip - 23/11/2023
Full Application - 5/11/2023
Hard Search on both our credit reports- 6/11/2023
MA came back to go over our insurance and has gone completely dark since.
I tried to chase our MA who said our application is in order, within SLA and he is looking to get a valuation date.
Still no valuation date or any update from Kesington and MA and would appreciate some sort of update but I guess no news is good news. The whole house buying process is super stressful but I guess we have to be patient. 

Sorry Full Application- 5/12/2023
Hard Search - 6/12/2023

I forgot to add that myself and partner noticed Kesington has now removed the hardserach from both our credit reports and I wonder if thats a good or bad thing. I'm concerned as I've read the whole thread from A-Z and yet to see anyone mentioned anything about hard search done and removed during application process. 

kingstreet

https://www.kensingtonmortgages.co.uk/intermediaries/k-hub

Drlk

@kingstreet. I have just been in contact to someone at Kensington and they’ve said we will need to go through our MA as they have requested additional information or documentation since from him but can’t tell me what the information is. I don’t know why our MA is sitting on this as they said it’s been weeks. I’m very upset as I spoke to my MA a few days ago and he didn’t say anything. I think I’m gonna be sending an email going forward to him as I see know reason why he isn’t communicating with us. 

Drlk

Tealmummy said:

is anyone going through the process with Kensignton at the minute? im just so anxious and having someone to complain with might help lol

ive got 2 old defaults, both due to drop off within 12 months and 2 missed payments on my credit card from 2 years ago. personally i dont think its that bad but no high street bank will touch me.

ive offered on an apartment at £120k, got a 15% percent deposit- half of which has been gifted, i earn £31k so looking to borrow around 3 times my salary 

21/11/2023- dip
22/11/2023- full application
24/11/2023- they asked for me to sign a document, and my grandparents ID and gifted deposit form signed.

does anyone think ive got any chance here
i really dont want to give them my landlord details as hes awful but they could see on my statements 4 years of on time payments
what documents are they likely to ask for

pray for me haha

Any news? 

They’ve requested for our P60’s which we’ve sent in so finger crossed now. I’m praying for all of us & hoping we get good news soon. 

tryingtogetbackontrack

Just to share in the anxiety. 

15/12/24: DIP and Full app
18/12/24: 1st Qs, usual stuff of payslips, P60s etc
21/12/24: Instructed valuation and 2nd round of Qs (looong list but all relatively straight forward and easy to answer).  

I thought valuation was good sign, but then got the list of questions.  KM were very quick to review the first lot of docs, but with the Xmas and new year break I suspect it will all have slowed to a stop and we’ll be in for a long very anxious January  

Drlk

tryingtogetbackontrack said:

Just to share in the anxiety. 

15/12/24: DIP and Full app
18/12/24: 1st Qs, usual stuff of payslips, P60s etc
21/12/24: Instructed valuation and 2nd round of Qs (looong list but all relatively straight forward and easy to answer).  

I thought valuation was good sign, but then got the list of questions.  KM were very quick to review the first lot of docs, but with the Xmas and new year break I suspect it will all have slowed to a stop and we’ll be in for a long very anxious January  

Really good to know that your are making progress with your application. Valuation is a good sign from what I’ve read so far and KM pay for that and won’t probably do so if they think there’s something wrong. Was thinking the same about their timescales as the break might have had some impact too. Can you share an example of the sort of questions they asked 2nd round if that’s okay? I’m very anxious as we’ve not heard anything back since sending in our P60’s no valuation date, nothing. Praying for us all still waiting 🙏

tryingtogetbackontrack

Drlk said:

tryingtogetbackontrack said:

Just to share in the anxiety. 

15/12/24: DIP and Full app
18/12/24: 1st Qs, usual stuff of payslips, P60s etc
21/12/24: Instructed valuation and 2nd round of Qs (looong list but all relatively straight forward and easy to answer).  

I thought valuation was good sign, but then got the list of questions.  KM were very quick to review the first lot of docs, but with the Xmas and new year break I suspect it will all have slowed to a stop and we’ll be in for a long very anxious January  

Really good to know that your are making progress with your application. Valuation is a good sign from what I’ve read so far and KM pay for that and won’t probably do so if they think there’s something wrong. Was thinking the same about their timescales as the break might have had some impact too. Can you share an example of the sort of questions they asked 2nd round if that’s okay? I’m very anxious as we’ve not heard anything back since sending in our P60’s no valuation date, nothing. Praying for us all still waiting 🙏

Some questions where of things we had already put in the application but they wanted us to confirm or evidence.  E.g. how will we pay off credit cards (equity in our current house), and provide evidence of the offer we’ve received on our current house.  A few others were specifics on our P60s and various account information.  Our MA thinks they are just waiting on the valuation now, so it seems positive… the anxiety isn’t any less thou.  I don’t think I’ll get a good night sleep again until we are in the new house!