Kensington Mortgage application timescale

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 !!

woofdonkey

Joining the thread, got our DIP today after pulling out of a Santander application. Hoping it'll be swift like some of the more recent posts! Our (new) broker has everything they could possibly need, so here's hoping.

Mon 10/12 - DIP
Tue 11/12 - application went in, payment for valuation taken, credit search on Equifax
Thu 13/12 - monster list of questions: they need memorandum of sale, business bits and pieces, confirmation of pre-marriage names, confirmation of intention to pay debts off on completion. Fired back to broker within 20 minutes, so hopefully back into the queue today. He suggests not booking the valuation until we've passed this first round of checks.
Fri 14/12 - documents acknowledged

woofdonkey

Mon 17/12 - Kensington confirmed all docs accepted, so broker instructed valuation.
Tue 18/12 - Valuation carried out
Wed 19/12 - valuation OK, gone to underwriting

Broker is trying to get the offer before Christmas. Let's see...

woofdonkey

Thu 20/12 - Mortgage offer confirmed at 9am!

So that's 9 working days from application to offer. Is that a record?

Ironically, I saw a thread on these boards from 2015 that said 'Kensington getting to offer in 9 days would be a miracle' -- either they've cleaned up their act or we've been very lucky. Credit to Simon at Magnum Financial for nudging every day to get it through.

It definitely helped to have all documents scanned in and shared ahead of time so that we/ the broker could access them straight away.

Best of luck to those still waiting!

mrsdaviddickinson

Our buyer is going through Kensington and their valuation was carried out on 27th November!! Still no offer.

Poor girl is chasing every day via her broker. They'd been reassured this week that the offer would come through by close of play yesterday, but nothing. I'm now getting increasingly concerned!

I think their application was checked internally though so supposedly pretty solid.

Oh and once they do confirm an offer do they delay on finding requests too?

mrsdaviddickinson

*funding requests

jayemm82

Hi

I hope people don't mind but I am also joining this thread. I have spent time reading through the history and thought it would be good too. There are some horror stories, and some good stories so hopefully it won't be too bad or long for us!

I had issued with my credit file in the past - nothing within last 12 months, a couple of things before that. One which is actually an error on the file, but I have had no luck in getting it changed.

I have balances on credit cards, and also use my overdraft monthly (not sure if that will be an issue) given the change in my pay recently, I have started to pay off my credit card balances with immediate effect, given I read the Kensington look at your soft credit report and also to show that I am keen to get a mortgage.

I assume that we will have a number of requests for documents, reference, statements etc but having read this thread I am at least prepared for all that.

Has anyone had issues with regular use of overdraft? I never go over my overdraft, haven't missed rent payments etc and only had blip in my payments due to genuine reasons.

DiP: 20/12/2018
Offer Accepted: 03/01/2019

tdh_2

i have been trying to have a meaningful conversation with kensington for most of the 11 years that we have had a mortgage with them. they are opaque, unresponsive in any useful way and we are currently being victimised as a mortgage prisoner - i am 74. in 11 years we have paid them £66,000 in interest, never had a meaningful answer to any question, had any complaint after a meaningless response from kensington fobbed of to the financial ombudsman who have yet to respond. the latest complaint about their discriminatory punitive interest rates is around a year old and we are still waiting.
kensington only want your money and our experience with them has been a time consuming nightmare.
i am now a mortgage prisoner. i do not want anyone else to suffer the time consuming, time wasting, endless, frustrating nightmare that kensington has been. i have tried everything to get a meaningful response about why we are being charge a punitive interest rate. they couldn't care less about us and we are unlikely to be the only ones treated with the utter contempt that they have shown to us. are you sure you want to use this kind of unresponsive company?

mrsdaviddickinson

Hi

Did you ever complete mmandis?

Our buyer is the same...last minute requests after mortgage offer received just prior to exchange.

bronzebomber

Must say I was very impressed with Kensington with our house purchase. All our delays were down to our solicitor taking so long with the searches.

We had an AIP from aldemore originally so had an offer accepted on a house end of October but then alder more rejected the full application so our broker quickly got it sorted with Kensington , worked out well as the interest rate was about the same and Kensington gave us a free valuation so got £370 refund from aldermore.

They never asked for much apart from the usual bank statements and payslips , they only queried my student loan that I never declared on the application under credit commitments as after 10 years of leaving uni I forgot I was even paying as it comes out my wages before I get them - I did find out I've only got less than a year left before it's all paid off so that was a nice bonus and they didn't have a problem with it

31st Oct - AIP and full application to Kensington
6th Nov - Valuation completed - our broker was away then so never let us know valuation had even been issued
7th Nov - mortgage offer issued
12th Nov - Solicitor requested searches
Nothing happened for weeks and loads of chasing over xmas until January .
7th Jan - searches completed completion date arranged
1st Feb - Completion