Kensington Mortgage application timescale

DthenG

Helsxxx wrote: »

HI All
I applied with Kensington thru my MA on friday 28th Sept after Hlifax declines and TSB offered less than i need. I was told 24hrs for initial documentation request then 48 hrs for them to review and decide.... but on reading these forums, people are saying weeks for a decision! i am on week 5 now since my offer was accepted and the estate agent is chasing for the valuation all the time. it is draining and im giving up hope - especially having to wait 4-6 weeks or so. i am hoping for a decision this week.

Hi Hels....this is not going to make good reading for you, but from my personal experience it took around 8 weeks from application to offer with Kensington. Thankfully my seller had some drawbacks otherwise I think they'd have pulled out.


Most brokers/advisors on here will probably tell you that Kensington aren't the quickest, but they get there in the end. I'd prepare for further documentation requests - we had 3 doc requests in total & after submitting new documentation your application goes to the bottom of the underwriting pile, usually a 3-4 working day wait to be assessed again!

Helsxxx

thanks for the info DthenG ... the estate agent calls daily to chase the valuation... i keep telling them its out of my hands but its draining.... and i dont want to wait 8 weeks and be given a no. its not my time im worried about, but i am holding up my buyers and the people i am buying from.. and if i get a no in 8 weeks ... it'd feel awful! not much i can do but wait and hope.
Thanks for the advice though

hunnibee_2

Finally completed our purchase today! :beer: :T
We was going through it all for MONTHS!!

First sellers pulled out of selling & then the new sellers had really slow solicitors - like we needed that on top of Kensington!

We really never thought we would get there..
Kensington were slightly different to what my solicitors were used to at the end and we completed a week after target date as they said they hadn't received paperwork :eek:
Finally though.... I'm officially a homeowner today :T

obay

hunnibee wrote: »

Finally completed our purchase today! :beer: :T
We was going through it all for MONTHS!!

First sellers pulled out of selling & then the new sellers had really slow solicitors - like we needed that on top of Kensington!

We really never thought we would get there..
Kensington were slightly different to what my solicitors were used to at the end and we completed a week after target date as they said they hadn't received paperwork :eek:
Finally though.... I'm officially a homeowner today :T

Congratulations! It's a nice feeling when you finally get on the ladder, we are with Kensington for 4 more days and we're leaving but it definitely helped us out gong with them. Just remember to sign up to the online portal, and make routine payments. After every £5k you pay to your mortgage they offer you a reduction in your monthly payment.

I know it's a reduction, but with those high-interest rates and payments, an exra £30-40 per month goes a long way...

Annielc

I'm going to join in 😊 application went in yesterday 13/11/18. Lots of documentation already submitted but I know they will require more. It's so disheartening to read this thread. Fingers crossed for a speedy process.

mmandis

Having followed this thread for some months, I just wanted to ask has anyone every had issues with Kensington at the last minute, everything is ready to go and we cannot exchange contracts because Kensington will not look at the contract until they are ready too earliest Monday we are due to complete on the Friday. I am so stressed with it all. Good luck to all of you who have just applied for a mortgage with them, you will need the patience of saint to deal with them.

Bex101

Hi there !
This is our second attempt with Kensington due to our first property being under valued by £14k back in June .
We have an offer on another property now and going through the prices again . Luckily DiP still stands so went straight to application.
15/11 back to broker / application submitted
1st week bits of info sent via broker
23/11 valuation instructed plus gifted letter and PODeposit
28/11 valuation being done

Absolutly bricking it incase we get down valued again !

Bex101

Valuation done last Wednesday , still waiting on our come although broker chasing up tomorrow (mon 3rd) more info requested Friday (Nov 30th) p60 again and bankbstatement to show deposit in place , new declaration signed , direct debit mandate and gifted deposit letter (kensigntons one formatted document)
Fingers crossed in valuation tomorrow and then can instruct solicitor !

Bex101

Update
Monday 2nd Dec valuation has come through spot on !! Absolutly over the moon after last time 😅

Few bit of info went in as mentioned in last post to kensignton Monday. Fingers crossed we should almost be there now. Broker ringing them Friday to see how things are progressing .

Bex101

Update offer came through Friday 7th yay!! Only snag was we had to change to a 2 yr fixed instead of 3 due to my credit file being just slightly not good enough but we are not phased by this.
17 days from application to offer !!