Kensington Mortgage application timescale

Firsttimebuyer7

Creditfixer3021 said:

Firsttimebuyer7 said:

I have just had my weekly update from my broker. My valuation has been booked for 21 September!! Sorry but does anyone else think this timescale is ridiculous? My broker is so SO good and has done everything he can throughout this whole process. I have contacted the Estate Agents to confirm whether the delay is due to Seller/access to the property or whether it is just Connells. Feeling disheartened as I was hoping to have completed by then. 

When did you start the application process?

So we submitted application on 6 August 2020, so only 3 weeks ago. However, we have technically been waiting 8 weeks now as we originally had put our application in with Clydesdale and they were a nightmare! I contacted the seller direct yesterday and reason for the delay is partly the sellers fault as he is away on holiday from 6 September (who goes on holiday in the middle of selling their property!? When the end is near!). Anyway my broker is going to contact Kensington and Connells today to see if they can squeeze us in before 6th and waiting until 21st seems extreme. I am a Solicitor and have done all of the Conveyancing myself so it is just an offer we are waiting for. 

Bex_27

Creditfixer3021 said:

Bex_27 said:

Hi all, 
Our application went in yesterday! My MA says we have bags of affordability, my other half takes home £2,300 and myself £1850 each month after tax. We both have cars, £200 for his and £160 for mine. We are paying off 3 debts, my overdraft, his credit card and a small loan with a lump sum but will be keeping a £3,400 loan running as it is £120 a month and when we have another lump sum we will look to pay off these. My question is, has anyone had a loan whilst applying for a mortgage? I have never missed a payment for any of these (including the car), the only thing that hinders us is 2 missed payments from last Sept and Nov for a mail order, which was just my silly forgetfulness as I thought I'd paid them! My other half has a default that finished 2 years ago and we don't have amazing credit scores, hence using Kensington. 

I have been preparing for our mortgage application for a couple of weeks so wrapped up everything and sent to our mortgage advisor, this included a document from my partners ex-solicitor showing the lump sum we will receive once she has finished with taking my other half off his old mortgage. We also did a document to show what we will pay off.

Thanks in advance!
B 

I was asked to pay off a loan (I had already paid it off the week before the application). I was then asked to provide evidence as my credit report hadn’t been updated.

ive seen several say they were ok with keeping their loans and credit cards so if you’ve been upfront, I’m sure you’ll be ok 

Thank you, we have included it in all of our stuff given to the MA, so hopefully they won't ask too many questions. I've packaged up everything I think they could possibly ask :S

Creditfixer3021

For any self employed applicants, it might be worthwhile doing your return for 20/21 (that’s due by 31st Jan 21)

we had mine requested to check affordability, takes time for your accountant to submit and HMRC to supply the sa302 so could be worth doing it now

Bex_27

Had a notification this morning to say they have carried out their hard search...let's see what happens next! I am so nervous. I was recently very ill and something that prompted us buying a house and seen then my anxiety has been through the roof, buying a house will really test me!

Creditfixer3021

Bex_27 said:

Had a notification this morning to say they have carried out their hard search...let's see what happens next! I am so nervous. I was recently very ill and something that prompted us buying a house and seen then my anxiety has been through the roof, buying a house will really test me!

Good news Bex. My biggest tip is not to think you’re getting a decision soon as it’s constantly plays on your mind.

if they’ve just done the hard search, expect it to be around 4 weeks with document requests along the way!

Creditfixer3021

After a horrible few months, we’ve just been approved 

blogger201719

Creditfixer3021 said:

After a horrible few months, we’ve just been approved 

Congratulations! All the best with your house move. We are only 3 weeks in and let's hope after valuation next week things may be a bit positive.

Bex_27

Creditfixer3021 said:

Bex_27 said:

Had a notification this morning to say they have carried out their hard search...let's see what happens next! I am so nervous. I was recently very ill and something that prompted us buying a house and seen then my anxiety has been through the roof, buying a house will really test me!

Good news Bex. My biggest tip is not to think you’re getting a decision soon as it’s constantly plays on your mind.

if they’ve just done the hard search, expect it to be around 4 weeks with document requests along the way!

After reading this forum, I am expecting 4-6 weeks :S This gives my partner enough time to get him off his old mortgage, his ex-partner has an agreement from Halifax to proceed but the solicitor is just waiting for the letter so she can send us the title to the deeds form to hand it over, then it will be over and we can never speak of her again...thank god!

Congratulations on getting your mortgage today, totally deserved! Good luck with the move

Creditfixer3021

Thank you. Good luck to all of you!!

Bex_27

Application sent and hard search carried out but MA has just said someone else has come back on the market with 2.5% apr, 5 year fixed. He is putting in a DIP, what would you do? Stick with Kensington or do another one. We tried NatWest and unfortunately got declined and they also did a hard search...don't want to effect my credit score :S