Kensington Mortgage application timescale

DougalG1

Offer received this afternoon!!!! ������

It has literally been ages but through no fault of Kensington. We made full application on 10th April and Hubby’s work reference had to be re done several times due to errors and our landlord was not returning the reference either.
We finally have the offer though.

Good luck everyone ��

absco14

Hi all,

Noticed alot of people saying Kensington query things on your bank statements. Could anyone give me an idea of what this is?

It is my partner who is applying through them.

My other question would be that i have transferred money into his savings only amounting to (approx) £200 will i need to write a gifted letter as this amount is so small? I have only transferred money to him that i wouldnt usually of had EG - receiving a complaints refund from insurance company

muhandis

Answers inline in red

absco14 wrote: »

Hi all,

Noticed alot of people saying Kensington query things on your bank statements. Could anyone give me an idea of what this is? They will be looking to make sure that there aren't any undeclared financial commitments or transactions that they class as risky or other things which don't agree with the information shared with them. Kensington are known to be very thorough with their processing so it's a matter of your partner being able to reasonably explain every transaction on the bank statement.

It is my partner who is applying through them.

My other question would be that i have transferred money into his savings only amounting to (approx) £200 will i need to write a gifted letter as this amount is so small? Given the amount, that's very very unlikely.

I have only transferred money to him that i wouldnt usually of had EG - receiving a complaints refund from insurance company

brunettegirl

OOOhhhhhh So there is a light at the end of a VERY long tunnel
The underwriter has reviewed the application and is satisfied so it has been passed to the Offer Reviewer for final checks but all being well we should have our Offer on Monday.....
Heres hoping we do!

brunettegirl

We FINALLY got our Mortgage offer today!
WOOHOO

Jasmine82

How old can a deposite be in your account iv got some deposite in my account from last june 18 from freinds family i let them borrowd and now repaid back me because its around 18k from few differnt people will that be an issue as they will see on statement and most probley ask me soon but being 1 yr old can they still look onto it or not anyone know plz basically im asking the fund in my account are now 1 yr old and been put in by few differnt people who borrowd from me but now its 1 yr old

niloufar_uk

Hi,
Aldermore bank declined the main application - they refused to accept my second job into consideration. I have found a new broker who suggested me Kensington.

29th May DIP was issued
10th June I was asked to send my passport and proof of deposit which is basically my bank statement
14th June broker asked for the valuation fee
still waiting for the underwriter to review my application
waiting and waiting and waiting.

anfieldred

niloufar_uk wrote: »

Hi,
Aldermore bank declined the main application - they refused to accept my second job into consideration. I have found a new broker who suggested me Kensington.

29th May DIP was issued
10th June I was asked to send my passport and proof of deposit which is basically my bank statement
14th June broker asked for the valuation fee
still waiting for the underwriter to review my application
waiting and waiting and waiting.

They take forever + a day to get back to you.

niloufar_uk

brunettegirl wrote: »

We FINALLY got our Mortgage offer today!
WOOHOO

congrats :beer: how long did this take for you? and what documents did they ask for? did they also contact your employer?

Bidds10

Hi All, thought I would post on here as we have recently applied for a mortgage with Kensington. We went to see a Mortgage advisor who said due to my poor credit history and defaults from 2013 and 2015 he thought it would be best. We are also doing a gifted deposit mortgage and we’re buying from our landlord. We had our DIP on 6th June, application is going off today with all paperwork so I’ll keep you posted on how we get on. We both work full time and are hoping for a 95% mortgage.