Kensington Mortgage application timescale

anfieldred

DEB82 wrote: »

No news still my end.

Had my valuation completed on the 18/6 and sent in my landlords reference on 21/6. Broker told me yesterday that they now have everything so I'm hoping to receive an answer this week.

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
14/6/18 - Requested landlord and accountants reference
18/6/18 - Valuation completed
21/6/18 - Confirmed they have received all required information (for now)

Sounds promising though if you've had the valuation done etc. I've sent my solicitor forms back today - been just under 2 months from DIP to getting to this point.

Cjj87

Not much on the internet In regards to Kensington and other people!!!8217;s experiences So here!!!8217;s our timeline
Applied for aip 12/05/18
Declined
Appealed decline
Kensington asked for proof of debts being cleared, bank statements, 3 years accounts, the whole lot,
After all that we got our aip,
15/06/18 full application went in
22/06/18 valuation was done
Today our broker said they are reviewing it and should have an answer Thursday
Fingers crossed !!!55358;!!!56606;!!!55356;!!!57340;

DEB82

Good news everyone! I received my offer today from Kensington for the full amount. So now just waiting to exchange which should hopefully be in the next week or two. So despite all the worrying it actually only took me a few days over a month to go from DIP to offer. Think a good broker is worth it's weight in gold as mine has been excellent and updated me constantly.

Denspe

That’s amazing news! I’m so pleased for you. This does give me hope. How exciting, Good luck with the house completion. :j

Denspe

So heard back from Kensington. Mortgage valuation came back £14k under offered price. They are classing the third bedroom has a box room & also commented about damp injection. Not sure where we go from here. Really love the property but just worried we will be over-paying. I understand surveyors value on the side of caution & also value properties day after day so would take what there saying to be correct. Any advice greatly received.

mrsrawls

We got our offer on Friday 29 June, for the full amount we needed to borrow. Loads of mistakes in the valuation document but we got there and without the initial proposed rate being increased which through this thread I've noticed happens sometimes. And helpfully the property is already valued at more than we are buying it for. I'm hoping the rest will be super smooth as we have already instructed the conveyancing so our solicitor has been sitting around waiting. Our broker has been great, I know she has harassed Kensington everyday to keep things moving.

hunnibee_2

So I had a call Friday from the estate agents who told me that the valuation had been completed last week :huh:
I didn't know it was happening yet! So I asked my broker this morning who has confirmed that it has taken place & there were no issues & he's spoken to the underwriter who is going over the final details now & we should have a decision by end of day tomorrow.... I won't hold my breath as I've seen other experiences where it's taken ages for the offer to come through so I'll wait.

Does anyone know if anyone has been declined past this stage? I'm still so nervous! I had tried to forget about it for a while until my grandfather was back but it seems that things are still moving, surprisingly.

anfieldred

hunnibee wrote: »

So I had a call Friday from the estate agents who told me that the valuation had been completed last week :huh:
I didn't know it was happening yet! So I asked my broker this morning who has confirmed that it has taken place & there were no issues & he's spoken to the underwriter who is going over the final details now & we should have a decision by end of day tomorrow.... I won't hold my breath as I've seen other experiences where it's taken ages for the offer to come through so I'll wait.

Does anyone know if anyone has been declined past this stage? I'm still so nervous! I had tried to forget about it for a while until my grandfather was back but it seems that things are still moving, surprisingly.

Sounds like they've just done a drive by valuation. As you've seen from my posts I moaned more than anyone about how long it took. Mine took 3 weeks from valuation to offer as I had to clarify an old loan, but Ive signed the solicitor forms now. It was just under 2 months from AIP to offer for me - you'll get there

hunnibee_2

The estate agent did say that Kensington were asking to make an appointment with the sellers to view the house, so phone numbers were exchanged.

I'm not hopeful for the offer to come today anyway as they still don't have the deposit letter.

Out of interest, after the offer - how long is it until completion? Bear in mind that solicitors aren't being instructed until after offer is secured.

Thanks

anfieldred

hunnibee wrote: »

The estate agent did say that Kensington were asking to make an appointment with the sellers to view the house, so phone numbers were exchanged.

I'm not hopeful for the offer to come today anyway as they still don't have the deposit letter.

Out of interest, after the offer - how long is it until completion? Bear in mind that solicitors aren't being instructed until after offer is secured.

Thanks

Think it depends really - doesn't really help I know. FWIW, my offer came on the 25th/26th June, and there was a form to say "complete ASAP", however as I'm remortgaging I have to wait until the end of July at the earliest to avoid early repayment charges. There was actually a provisional date of the 1st July on my solicitor forms, so I had to ask them to not do this.

It will depend on the seller's solicitors too as to when they can complete. Once the solicitors for Kensington received my paperwork they emailed me to say that they will be in touch again with a completion date