Kensington Mortgage application timescale

Northstar1979

@aqua1985 you need to go and see a financial advisor/broker, they advise you and look at everything and tell you what’s the best way forward.

I have a £22k loan which is in default from 2014 and being paid off now and so far my FA said they aren’t bothered about that as long as am paying it, it’s about affordability.

Bidds10

Hello thought I would post as this forum has really helped me while going through our mortgage application with Kensington.

AIP - 6th June
Application Submitted - 26th June
Paperwork satisfied - 17th July
Valuation took place - 17th July
Valuation received - 19th July
Offer received - 22nd July

We applied for a mortgage with a 5% deposit. First time buyers. Can not fault Kensington so far, they have been amazing. :beer: now time to celebrate!

Northstar1979

Application 2nd July, satisfied 22nd July for what mortgage we wAnted, Valuation booked in for 25th July.

Northstar1979

Sorry it was the 12th July application

Blo

Thought I’d post our experience of Kensington.

AIP- 1st Aug
Full application- 2nd Aug
Valuation- 7th Aug
Offer - 8th Aug

We cannot fault them so far and hoping that the next stage with solicitors goes through quickly as this is a re mortgage for us! We are been stuck with an old northern rock mortgage for the last 13 years with a stupid interest rate!

All I will say is get yourself a very good mortgage advisor as this helps massively. Ours anticipated all the questions that Kensington would come back with so sent a full explanation of certain things with our application and I’m certain this is what got us our offer so quickly!!

RelievedSheff

I think Kensington must have gotten their act together recently as there have been lots of cases going through really quickly. We were horrified when we read the reviews online yet they sorted our case out from AIP through to the offer in 7 working days as well.

tinab93

Hi,

Myself and my Partner are First Time Buyers going through the Help to Buy Scheme, because of a few factors on our credit reports we are going with Kensington, we received the AIP roughly 2-3 weeks ago, our application for Mortgage was submitted on Tuesday 27th August and have just today received notificaiton from our mortgage advisor that Kensington have instructed the valuation. forgive my ignorance, but does this look like a positive step in the right direction?

many thanks

MsGeorge88

tinab93 wrote: »

Hi,

Myself and my Partner are First Time Buyers going through the Help to Buy Scheme, because of a few factors on our credit reports we are going with Kensington, we received the AIP roughly 2-3 weeks ago, our application for Mortgage was submitted on Tuesday 27th August and have just today received notificaiton from our mortgage advisor that Kensington have instructed the valuation. forgive my ignorance, but does this look like a positive step in the right direction?

many thanks

How did you get on?

Hannahjr

New to MSE forums but wanted to join on this thread.

Having to use Kensington due to having a couple of defaults on my file that won’t drop off until late 2020.

Rather smooth process from AIP to application. Application was sent off 18th September. Valuation was completed on the 26th September and that came back okay so just been awaiting our offer! :huh:

We were told on Thursday (11th) that our case is going under the final checks and we should have an offer in 48 hours (all going to plan)

Just received a message from our case manager apologising on the behalf of Kensington stating that there has been an error with the valuation and it needs clarifying with the company who completed the valuation that our property is bigger than 35 sqm - if it is not, we could be declined. I’ve been worried all day whether or not we will be accepted and furious that they’ve only just picked up this error even though they’ve had the report since 26th September.

I’m not the best at maths but I’m fairly certain our house is bigger than 35 sqm, but we have to wait 48 hours for Kensington to speak to Edward Mellor (valuation) then probably have to wait another few days for Kensington to decide whether to offer us a mortgage.

:mad:

psth8

Hi everyone, this is my first time posting. I am a FTB and thought I would explain my application journey because reading these forums has really helped me.

We have a 10% deposit. Had an offer accepted on a property. The property is over 100 years old but had been refurbished throughout - i.e plastered, new kitchen and bathroom, new flooring, load bearing wall removed to open up kitchen/diner.

Initially applied for a mortgage through NatWest who would only offer us a mortgage at 85% LTV because according to their underwriters the house is classed as a new build due to the refurb.

Our broker suggested Kensington because they are a specialist lender who are willing to offer 90% LTV on new builds.

Timeline of Kensington application

23.12.2019 -DIP
23.12.2019-Full mortgage app submitted by broker
08.01.2020- Valuation instructed
10.10.2020 - Kensington requested a damp and timber survey due to the surveyor spotting signs of damp
13.10.2020 - Damp survey sent to Kensington. Luckily the seller had damp and timber report done a few months ago which came back clear for signs of damp and rot.

We are now just waiting on an update from Kensington to confirm whether they will accept the report and produce the valuation. Then hopefully the mortgage offer.

This has been one of the most nerve wracking and frustrating few weeks. If Kensington come back and reject us for whatever reason we are going to put the house hunt on hold for a few months and try again after summer due to the fact that we now have 2 hard credit searches on our file from NatWest and now Kensington which has reduced our credit scores.

Would be interested in hearing any other similar experiences/circs with Kensington?