Kensington Mortgage application timescale

greendale

vixelite said:

berkshirelass said:

Our valuation has been booked in for 20th.  Hopefully that's a big step forward.  did anyone get their valuation back yet?  Were there any more questions after that?

Our valuation was yesterday and we were told today that it was all okay.  Our broker said they are just waiting for my partners employer to confirm his salary because his July payslip was released early (the email from Kensington to his employer was sent today) and that should be it (fingers crossed)  I'll keep you all updated next week

How weird it’s such different timescales. Do you mind if I ask who your broker is? I am seriously thinking our broker is just useless. 

berkshirelass

vixelite said:

berkshirelass said:

Our valuation has been booked in for 20th.  Hopefully that's a big step forward.  did anyone get their valuation back yet?  Were there any more questions after that?

Our valuation was yesterday and we were told today that it was all okay.  Our broker said they are just waiting for my partners employer to confirm his salary because his July payslip was released early (the email from Kensington to his employer was sent today) and that should be it (fingers crossed)  I'll keep you all updated next week

Great news! Fingers crossed as we new build like you we should get same prompt response - but who knows with these guys! Fingers crossed we both get our offers soon

kaynat123

We have just had a valuation with Kensington after the most stressful few months. They really want to know everything! The developer is threatening to re market the property if we don’t get the mortgage soon- we can’t go any faster! Hoping for good news soon! 

vixelite

@greendale I was pretty surprised myself to be honest, because what I've read on here was nothing like that timescale.  We are just with a local, whole of the market broker that all my family have used for years.  The only thing I can think of that's improving our timescale is that we have no debt, I've worked all the way through the lockdown and the other half is back at work, both PAYE.  I'm just taking a wild guess though! 

@berkshirelass Yes not getting my hopes up too much yet, but we'll see how next week pans out but I have everything crossed for all of us waiting on here.  🤞

greendale

@vixelite glad to hear you have such a good broker! I’ve messaged Kensington through Twitter (I find companies are reasonably quick to respond this way) asking for some timescales and hoping they will respond tomorrow with something. I’ll update on here if I hear anything (and if Twitter is a good way to get in touch with them). We’ve not necessarily got a bad credit history, not impacted by Covid either due to the type of jobs we have but my hubby has an underpayment recorded on his file that’s within last 6 months and we went for Kensington purely not to pull out of sale of our place and loose the house we found to buy. Otherwise we could have just pulled out and waited 6 months or so to be eligible for high street lenders. It does seem they are just a very slow lender but still better than NatWest who we were told would take at least 51 days between application and decision 😱 

greendale

Update: Twitter is no good for general contact. 

vixelite

Our MA chased today and the reply was that they are running behind on their service levels, ours will be assessed by Thursday.  Lets wait and see but I'm not holding my breath 😂

greendale

We just got told we got our offer. So ecstatic I still can’t believe it! All in all it’s been a short time between full application and offer but because it’s such a stressful time it just seems so much longer. 

Here’s our full timeline, this is our 3rd mortgage/move and we are not buying new build:
02/07/20 - DIP

03/07/20 - late on in the afternoon - full application made. 

06/07/20 - supporting docs sent to broker. See my earlier post for what we had to send. 

13/07/20 - valuation carried out. 

13/07/20 - further doc sent - bank statement with 3 months mortgage payments. 

21/07/20 - mortgage offered. 

All in all from full application to offer it’s 18 calendar days or 12 working days. 

greendale

vixelite said:

Our MA chased today and the reply was that they are running behind on their service levels, ours will be assessed by Thursday.  Lets wait and see but I'm not holding my breath 😂

That’s similar to what we were told. I have fingers crossed for you! 

vixelite

greendale said:

We just got told we got our offer. So ecstatic I still can’t believe it! All in all it’s been a short time between full application and offer but because it’s such a stressful time it just seems so much longer. 

Here’s our full timeline, this is our 3rd mortgage/move and we are not buying new build:
02/07/20 - DIP

03/07/20 - late on in the afternoon - full application made. 

06/07/20 - supporting docs sent to broker. See my earlier post for what we had to send. 

13/07/20 - valuation carried out. 

13/07/20 - further doc sent - bank statement with 3 months mortgage payments. 

21/07/20 - mortgage offered. 

All in all from full application to offer it’s 18 calendar days or 12 working days. 

Absolutely over the moon for you! Congratulations!