Kensington Mortgage application timescale

berkshirelass

vixelite said:

We finally got our offer this afternoon! Completely in shock that we got it done in 17 days from application.  
DIP - 4th July
Full application - 6th July
More documents requested - 9th July
Valuation booked - 13th July
More documents requested - 14th July
Valuation (visit) carried out - 16th July 
Valuation accepted - 17th July
Mortgage offer received - 23rd July 
Now pass me a glass of wine! 
 

Fantastic news! Congratulations! We had our valuation on Monday so I’m keeping everything crossed we hear back tomorrow 

vixelite

berkshirelass said:

vixelite said:

We finally got our offer this afternoon! Completely in shock that we got it done in 17 days from application.  
DIP - 4th July
Full application - 6th July
More documents requested - 9th July
Valuation booked - 13th July
More documents requested - 14th July
Valuation (visit) carried out - 16th July 
Valuation accepted - 17th July
Mortgage offer received - 23rd July 
Now pass me a glass of wine! 
 

Fantastic news! Congratulations! We had our valuation on Monday so I’m keeping everything crossed we hear back tomorrow 

Honestly don't think you will be waiting much longer, I'm really impressed how they have handled everything considering the circumstances.  Especially when even the high street lenders are taking 4 weeks plus.  I'll be keeping my eyes peeled for your update! 

greendale

vixelite said:

We finally got our offer this afternoon! Completely in shock that we got it done in 17 days from application.  
DIP - 4th July
Full application - 6th July
More documents requested - 9th July
Valuation booked - 13th July
More documents requested - 14th July
Valuation (visit) carried out - 16th July 
Valuation accepted - 17th July
Mortgage offer received - 23rd July 
Now pass me a glass of wine! 
 

Brilliant news! Congratulations!!! 

kaynat123

vixelite said:

We finally got our offer this afternoon! Completely in shock that we got it done in 17 days from application.  
DIP - 4th July
Full application - 6th July
More documents requested - 9th July
Valuation booked - 13th July
More documents requested - 14th July
Valuation (visit) carried out - 16th July 
Valuation accepted - 17th July
Mortgage offer received - 23rd July 
Now pass me a glass of wine! 
 

Fantastic- and breathe...

Creditfixer3021

Im joining the conversation.

dIP/ full application - 15th July 
16th - submitted additional documents that were requested 
23rd - valuation completed 
27th - further documents requested 

now I’m back in the waiting game 

Bex_27

We've got a DIP with Kensington and just wondered whether anyone has similar circumstances. We have a small loan, £4000 in total, £600 of which will be paid off within the next two weeks, I also have an overdraft which will be all paid off too. We have two cars on finance. 2 missed payments within the last 12 months but other than that a clean record. All payments like loans and things paid on time. We are first time buyers, have a £13,500 deposit and are using HTB. What should I expect with the next steps?

Creditfixer3021

Bex_27 said:

We've got a DIP with Kensington and just wondered whether anyone has similar circumstances. We have a small loan, £4000 in total, £600 of which will be paid off within the next two weeks, I also have an overdraft which will be all paid off too. We have two cars on finance. 2 missed payments within the last 12 months but other than that a clean record. All payments like loans and things paid on time. We are first time buyers, have a £13,500 deposit and are using HTB. What should I expect with the next steps?

You will need to prove you have 3x mortgage payments were savings on top of your deposit (we have to supply evidence this week). Just a heads up. Good luck with the full application. If you got the dip, it’s a good start! 

Bex_27

Creditfixer3021 said:

Bex_27 said:

We've got a DIP with Kensington and just wondered whether anyone has similar circumstances. We have a small loan, £4000 in total, £600 of which will be paid off within the next two weeks, I also have an overdraft which will be all paid off too. We have two cars on finance. 2 missed payments within the last 12 months but other than that a clean record. All payments like loans and things paid on time. We are first time buyers, have a £13,500 deposit and are using HTB. What should I expect with the next steps?

You will need to prove you have 3x mortgage payments were savings on top of your deposit (we have to supply evidence this week). Just a heads up. Good luck with the full application. If you got the dip, it’s a good start! 

Oh really, that's an odd request! Will have to work out what the monthly costs will be, our deposit is £13,500 and we have some spare cash afterwards from my gifted deposit.

berkshirelass

Creditfixer3021 said:

Bex_27 said:

We've got a DIP with Kensington and just wondered whether anyone has similar circumstances. We have a small loan, £4000 in total, £600 of which will be paid off within the next two weeks, I also have an overdraft which will be all paid off too. We have two cars on finance. 2 missed payments within the last 12 months but other than that a clean record. All payments like loans and things paid on time. We are first time buyers, have a £13,500 deposit and are using HTB. What should I expect with the next steps?

You will need to prove you have 3x mortgage payments were savings on top of your deposit (we have to supply evidence this week). Just a heads up. Good luck with the full application. If you got the dip, it’s a good start! 

We got asked to show that we had enough savings to cover 3 months mortgage payents.  Our Broker said its becuase they are worried about people losing their jobs because of COVID.  I get that they are being super cautious about this given the crazy times we live in.  Overall though, be ready for a slow process.  They have come back 4 times to ask for more information since we applied on 7 July.  The last requst was yesterday asking a question on a piece of information they have had since day one.  Why they didn't ask about this on the first round of questions frustrates me beyond belief.  Their underwriting process is very disjointed.  I don't think it helps that my broker is useless, people who have good brokers seem to get through quicker.  Good luck!

Creditfixer3021

berkshirelass said:

Creditfixer3021 said:

Bex_27 said:

We've got a DIP with Kensington and just wondered whether anyone has similar circumstances. We have a small loan, £4000 in total, £600 of which will be paid off within the next two weeks, I also have an overdraft which will be all paid off too. We have two cars on finance. 2 missed payments within the last 12 months but other than that a clean record. All payments like loans and things paid on time. We are first time buyers, have a £13,500 deposit and are using HTB. What should I expect with the next steps?

You will need to prove you have 3x mortgage payments were savings on top of your deposit (we have to supply evidence this week). Just a heads up. Good luck with the full application. If you got the dip, it’s a good start! 

We got asked to show that we had enough savings to cover 3 months mortgage payents.  Our Broker said its becuase they are worried about people losing their jobs because of COVID.  I get that they are being super cautious about this given the crazy times we live in.  Overall though, be ready for a slow process.  They have come back 4 times to ask for more information since we applied on 7 July.  The last requst was yesterday asking a question on a piece of information they have had since day one.  Why they didn't ask about this on the first round of questions frustrates me beyond belief.  Their underwriting process is very disjointed.  I don't think it helps that my broker is useless, people who have good brokers seem to get through quicker.  Good luck!

I agree. It seems an odd way of doing things and very slow. They ask all applicants for 3 months evidence now (it’s on the website)