Kensington Mortgage application timescale

ontheedgeofmyseat

mclewlow1 said:

Hi, I heard from Kensington today asking for proof of address as I have a gap in my electoral roll, and they want proof of deposit and the 3months worth of mortgage payments they require now due to covid which we've done. Have you heard back about a date for your valuation yet? 

Hi,  yes, we know that they are going to value our property on 25th June 2020. However, they have now asked for more info, that being proof of savings for the mortgage payments. Have you heard back from your valuation?

ukblogger

ontheedgeofmyseat said:

We have heard back from Kensington today, and the mortgage broker advised all documents have been satisfied, but we just need to provide a letter explaining why our financial commitments are so high. We are planning to pay them all off you see.

We are also just awaiting a valuation, but there is a just a bit of a backlog because of Covid. 

Just wondering if anyone else has experienced this request for a letter, and what that meant for them, I.e where you successful in the end or did they come back and ask more questions?

thanks 

I had to do a letter with them, explaining why I had loans/credit cards (what the purpose of them was) - think it's common with them.

ontheedgeofmyseat

@ukblogger hi, thanks for this, was your application successful? 

Did they come back to you with more questions after this? (unrelated to the letter as well as)

ukblogger

ontheedgeofmyseat said:

@ukblogger hi, thanks for this, was your application successful? 

Did they come back to you with more questions after this? (unrelated to the letter as well as)

Sorry for the slow reply.
Application was successful yeah - although it was very, very slow! After the letter there were no more questions, but initially they wanted a lot of paperwork - they wanted copies of all my credit agreements, and reasons for taking them out. They also questioned a few transactions on my bank statement, but they did complete eventually. I had a bad credit history and a high amount of debt which was consolidated onto the mortgage, and it still went ahead.

vixelite

ukblogger said:

ontheedgeofmyseat said:

@ukblogger hi, thanks for this, was your application successful? 

Did they come back to you with more questions after this? (unrelated to the letter as well as)

Sorry for the slow reply.
Application was successful yeah - although it was very, very slow! After the letter there were no more questions, but initially they wanted a lot of paperwork - they wanted copies of all my credit agreements, and reasons for taking them out. They also questioned a few transactions on my bank statement, but they did complete eventually. I had a bad credit history and a high amount of debt which was consolidated onto the mortgage, and it still went ahead.

Hope you don't mind me jumping in on the conversation.
How slow was slow? Was it over 4 weeks?  We are hoping to apply at the start of July and if successful just trying to gauge the wait.  We are due to exchange on a property.  Thanks 😁

mclewlow1

So I'm still awaiting to hear from my broker regarding the valuation or if they are satisfied with the paperwork sent. Just hate this waiting game! We are meant to have an update by the end of today, so still time yet I guess 🤞 ontheedgeofmyseat has anything progressed your end? 

ontheedgeofmyseat

mclewlow1 said:

So I'm still awaiting to hear from my broker regarding the valuation or if they are satisfied with the paperwork sent. Just hate this waiting game! We are meant to have an update by the end of today, so still time yet I guess 🤞 ontheedgeofmyseat has anything progressed your end? 

We are still waiting 😔 fingers crossed we know by the end of today, did you hear back? 

greendale

Hi all, just applied for a DIP with Like Mortgages the recommended Kensington broker and we’ve been referred for DIP! Anyone had this before? Did get a reason something to do with they can’t access the credit file or something. Clarifying with the broker for exact reason. I am a bit worried that if we are referred at this early stage we won’t even get to an application stage! Anyone experienced a referral for DIP? Thank you! 

mclewlow1

Nope still heard nothing. Broker has said everything is taking a lot longer at the minute unfortunately. Did you hear back the other day? 

ontheedgeofmyseat

mclewlow1 said:

Nope still heard nothing. Broker has said everything is taking a lot longer at the minute unfortunately. Did you hear back the other day? 

Still waiting.. fingers and toes are crossed we can an offer this week, we have been advised of the same.