Kensington Mortgage application timescale

lumpyspaceprincess

We've just submitted an application via our broker to Kensington on 08/03, following a DIP on the 4th. Let's see how long it takes for us to get our offer, varied stories for everyone else!

lumpyspaceprincess

20/03 - Survey happened, so the EA took the house off as SSTC and is sending the pack. Yay
21/03 - Kensington request more bank statements to prove deposit source, also the surveyor thinks they've seen damp so we've been asked to arrange a Damp and Timber survey ASAP.
We live in a damp rental now and haven't noticed any of the usual signs there, so hopefully this won't pop anything up. D&T report should take place next Weds. So £200 down and fingers crossed. Once this is in if all OK current SLA for Kensington is apparently 2 working days for underwriting.

lumpyspaceprincess

We've had our damp and timber report back and uploaded to Kensington, some work identified on there, should have an answer within a few days. Broker thinks it might be subject to the work being done within 6 months, which we could do - fingers crossed!

onthemend88

Hi everyone

We were initially looking at getting a mortgage in 2020 however, we have done really well with saving over the last year and have at least a 10% deposit on up to a £250,000 property.

We have spoken to a mortgage advisor and due to previous adverse credit, have been told that we will should be able to get an AIP with a 90% LTV from Kensington in July 2019.

I have been reading that they require a LOT of paperwork and would like to try and prepare for this for when we are able to apply.

We are both full time employed with the NHS and understand that we will need 3 months wage slips, 3 months bank statements, proof of ID and proof of address, proof of deposit, P60?

What other information/documentation will be required for a company like Kensington?

We have paid all of our debt off over the last year as well - would they require proof of this as I can start getting this information from our creditors now.

anfieldred

Depends on your circumstances really. I was asked for:

4 months payslips
4 months bank statements (although, both of these were because we applied 3-4 months before my existing mortgage deal ended)
3 year's employment history (just names, addresses of companies)
Passport, proof of address
Letter explaining adverse credit - how/why got into it, what steps have you taken to avoid it happening again (in my case, it was remortgaging to clear some debt).

I think there's a few people further back in this thread that had to do a letter too. If you're both full time employed it might be a bit more straightforward, but just prepare for it being a slow process.

lumpyspaceprincess

I had to do a letter explaining how I got the adverse also, we provided broker with one payslip for me 3 for my partner, 3 month bank statements, p60s for 2 years and then passport /licence for ID.

Emma1987

Morning. I dont know if anyone will be able to help but I’ve had my mortgage offer from Kensington on Wednesday but my broker emailed yesterday
Kensington, just need to see confirmation of these payments in order for them to proceed. I know this may be a little confusing for you with them already issuing your mortgage however there are several departments and final checks that need to be carried out before everything is final. Please rest assured that this is nothing to worry about and that once they have the information they require then everything can proceed.
. Has this happened to anyone else?

Kelda1

We are waiting to see if we get offer with Kensington been through AIP all docs submitted, then more docs asked for - sent them now waiting. What payments do they want confirmation of in order to proceed ?

Chrisrts

Got declined mortgage application from main stream banks due to poor credit on my partners side so applied with kensington, up to now its been 10 days give or take, credit checks and DIP accepted after 2 days, they asked for us to fill out the direct debit mandate and send over more paperwork.. just the usual p60s etc etc. Nothing out of the ordinary really..

Everything seems to be on track as after 5 days all documents had been ‘satisfied’ by the underwriter.. spoke to my broker today and he tells me they have now instructed the valuation on the property...

The question that im woundering is if the valuation goes well is there really anything that can go wrong at this point? We are first time buyers and this is all new to us... i would never have thought it would be this stressful

Any replies thankyou so much!!

For the people in this thread who have posted previously thankyou! Helped lower stress levels knowing abit more about how kensington operates

DougalG1

We got declined by a high street bank due to my husbands previous credit although all clear now and no late payments or defaults.

We received DIP 09/04/19
Full application made 10/04/19
Further docs requested 11/04/19 ( P60’s, 3 months bank statements, proof of deposit and landlords name, address and phone number)
Just a waiting game now......

We reserved a plot last month on a new build and had originally agreed to exchange on the 12/04/19 and complete in May. Feeling anxious that we will miss out on the property as we have not secured a mortgage offer in time. Especially when I’m reading the timescales that Kensington work to.