Kensington Mortgage application timescale

Kareng1978

Yay!! let us know when it arrives.

I didnt like to post last week whilst people were still waiting but mine came through a week ago, 2 weeks 5 days from application to offer. I know a lot of people have had issues with them but i found it very smooth to be honest. As long as you are honest with them and provide the extra information they ask for (but never more than they ask for!) then they are fine. Good luck to everybody waiting....

DEB82

I'm also in the midst of applying with Kensington as well. Agents are chasing me for a valuation date. Hopefully hear back from my broker soon but will keep you updated on my application.

24/5/18 - Offer accepted on property
24/5/18 - DIP
25/5/18 - Full application submitted + valuation fee
30/5/18 - Came back with 10 points that needed clarification and required different solicitors
8/6/18 - Sent all information requested across

anfieldred

Fingers crossed it comes today now. I've given them everything usually within an hour of them asking for it - just hope it all goes through now!

anfieldred

Hasn't come through and broker's not heard.

hunnibee_2

I'm going to be brutally honest on my account - I am feeling like I will probably be the one that gets declined. If we do get approved then I will be very surprised!

My broker has been on the phone all afternoon!
I think he is as stressed as me..
They've asked for most recent bank statements (supplied immediately), they then said that they wasn't sure about our affordability - had already asked Broker about this as I had seen on here they're quite strict with things like Costa etc & factor it all in.
Hubby uses his overdraft but has been in the process of getting rid of it (it was £1000 - is now £800) but all they see is that he uses it - this could cause us an issue.
I have £1000 on mine and never use it though.
So they told us that they may accept based on a 5 year fixed instead of 2 year - not ideal, I asked the broker what the fees will be in 2 years to change (£1300) being as a much better rate with a high street lender will potentially bring the mortgage down every month I will more than likely pay it off then.
So broker has told them I accepted the terms & we wait some more.
They have also asked for my current landlord details. Does anyone know if they contact them directly or shall I anticipate they'll ask for a rent statement and ask for one ready?

ggb85

After being turned down by Halifax, I was worried about applying with Kensington as the seller wanted a quick sale and everyone has been saying how slow they are!

Luckily, it has only been 21 days from application to offer!

21/5 Full aplication made

28/5 couple of extra pieces of info requested.

6/6 Underwriting complete & survey/ valuation instructed

12/6 Survey completed

13/6 Received an email from the broker to say they have received the mortgage offer and that Kensington will have it in the post to me and the solicitor within 2-3 days!

After the survey I was expecting a long wait, but it was less than 24 hours.

DEB82

hunnibee wrote: »

I'm going to be brutally honest on my account - I am feeling like I will probably be the one that gets declined. If we do get approved then I will be very surprised!

My broker has been on the phone all afternoon!
I think he is as stressed as me..
They've asked for most recent bank statements (supplied immediately), they then said that they wasn't sure about our affordability - had already asked Broker about this as I had seen on here they're quite strict with things like Costa etc & factor it all in.
Hubby uses his overdraft but has been in the process of getting rid of it (it was £1000 - is now £800) but all they see is that he uses it - this could cause us an issue.
I have £1000 on mine and never use it though.
So they told us that they may accept based on a 5 year fixed instead of 2 year - not ideal, I asked the broker what the fees will be in 2 years to change (£1300) being as a much better rate with a high street lender will potentially bring the mortgage down every month I will more than likely pay it off then.
So broker has told them I accepted the terms & we wait some more.
They have also asked for my current landlord details. Does anyone know if they contact them directly or shall I anticipate they'll ask for a rent statement and ask for one ready?

I'm presuming you had a DIP with them first? I've read others who have had conditional offers where they have had to clear overdrafts or debts first. So I wouldn't write yourself off just yet.

hunnibee_2

Thanks DEB82,
Yes we did/still do after adjustments.
We have had mine & my son's birthdays over April & May so I know they may consider those as factors and also see how we spend during those times aswell.
I don't think we could clear hubby's loans right now. I don't think they will ask for that though.

anfieldred

hunnibee wrote: »

Thanks DEB82,
Yes we did/still do after adjustments.
We have had mine & my son's birthdays over April & May so I know they may consider those as factors and also see how we spend during those times aswell.
I don't think we could clear hubby's loans right now. I don't think they will ask for that though.

FWIW I have a much bigger overdraft that I'm in on my application and I got a DIP, and am waiting for the offer, so I wouldn't lose hope (and that's coming from the biggest doom & gloom merchant in this thread!)

hunnibee_2

Bless u anfieldred! Thanks for the hope :rotfl: u got more than me atm.

Requested rent statement today in anticipation.