Kensington Mortgage application timescale

CJohn65

It’s so nice reading everyone good stories about Kensington applications, not so much the bad ones!

We’ve bought a brand new build, application gone in with Kensington on 24/04/2019 and just waiting to hear on the valuation stage.

Broker said Kensington are now working towards at 2 week turn around to offer, especially on new build properties due to deadline of exchange.

So stressful, I’m an estate agent myself but don’t realise the stress until you’re in that position :rotfl:

DougalG1

feekerry wrote: »

No nothing although I was here when the valuer came (remortgage not purchase) and he was done in a bout 3 mins!
As long as I haven’t heard either way on the valuation I am hoping that is a good thing, broker didn’t mention it in her message, just that my email thing outstanding...

DougalG1 wrote: »

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.

Further information requested yesterday (30/04/19) proof of deposit in bank, proof of my pay increase last November. They are also awaiting references from our letting agent and hubbys work so wanted email addresses to chase these. Hoping a decision is close, the waiting is killing us.

CJohn65

Further documents requested on the 30/04/2019 by Kensington, wanted proof of statement showing gifted deposit being transferred and ID for person gifting deposit and both P60s.

Sent all back today and also got our Authority to Proceed from Help to Buy today so, progress!!

No doubt they'll be back asking for more documents soon and lose a day with bank holiday coming up...

DougalG1

valuation has been completed. Had further queries today about some outgoings on bank statement. Hope they are close to making a decision and hopefully an offer

redman1989

Why so many questions after they accept the application?

Thanks,

DougalG1

Our broker warned us the application would take longer than a high street lender and they question absolutely everything

CJohn65

We seem to be flying through it so far, see if that continues but so far, so good :j

Application went in 24/04/2019
30/04/2019 further documents requested
01/05/2019 sent back everything
02/05/2019 valuation instructed

Broker thinks we’ll have offer by end of next week... subject to valuation

Kensington have been fine so far, I’ve had cases with high streets take longer to instruct valuation

CJohn65

So just FYI for anyone following this thread... Valuation is now booked for 10/05/2019 as earliest the valuation company can get to site, pretty standard really.

Kensington have satisfied everything already according to broker, wanted to know what an outgoing on my GFs statement was which was a car finance, final payment made in January...

Kensington have been a dream so far... Don't lose hope people! :beer:

janoid19

Hey everyone.

Just moved to this thread from the Precise one.
Our mortgage broker just cancelled our application with Precise after 5 weeks as they had a problem with a employment gap my partner had between his old job and current job. They wanted 1 year continuous employment and he had a 2 month gap between this job and his old one.

Application was sent in yesterday so lets hope this one goes better.

Good luck everyone x

brunettegirl

Hello,
I thought I would join the waiting game.
So we are buying a new build and using the mortgage broker RSC Homes. They were originally telling us to apply to Kensington, then at the last minute changed to precise as the rate was better. They did a credit check with precise and there was a query about hubbys age as he will be over 70, so they queried job and then it turned out our solicitor wasn't on their panel (this was all without even submitting an application!) So the Broker suggested we went back to Kensington, our solicitor is on their panel and we had been waiting over a month on precise already and thats just soft checks ect.
Finally a mortgage application went in on Wednesday 1st may

Fingers crossed we won't have weeks of waiting like others seem to of had. Our new build is already built and waiting to be moved into. We reserved back in March! Can't beleive we wasted a month going back and forth with precise and we hadn't even submitted the full application.

Our timeline
App submitted 1/5/19 (sent 4 months bank statements, 3 months payslips, self employed sa302, tax overview, passport, D/licience, signed DD mandate, Signed document for Kensington)
Kensington did a hard credit check on 1/5/19
2/5/19 - valuation booked for 3/5/19
Broker is expecting an update on Tuesday.