Kensington Mortgage application timescale

firstimebuyer18

Reading all this and feeling worried! Got DiP done and approved today and then full application with supporting docs also submitted today. Also paid valuation fee.  Broker hasn’t mentioned 3 months mortgage payments to us - has everyone accepted recently had to do this? Be helpful if they told you up front!  Broker seems pretty relaxed - it’s Like Financial.  anyone got any experience of them? Has been very quick to deal. When we first discussed it with then he advised we could borrow more than we were actually looking for so fingers crossed that helps. 

sam791

Joining thread after being declined by precise who do not accept our builder warranty. 

How has everyone found them ? 

We are within affordability however I earn much less than my husband and sometimes go over my overdraft slightly . His statements are fine. I can’t bear to go through all this again ! 

maryjoashley

JustJane101 said:

How long is everyone waiting on average for their offers with Kensington at the moment?

Ours took about 9 weeks.  But we had a crap broker that cost us a couple of weeks..!

maryjoashley

firstimebuyer18 said:

Reading all this and feeling worried! Got DiP done and approved today and then full application with supporting docs also submitted today. Also paid valuation fee.  Broker hasn’t mentioned 3 months mortgage payments to us - has everyone accepted recently had to do this? Be helpful if they told you up front!  Broker seems pretty relaxed - it’s Like Financial.  anyone got any experience of them? Has been very quick to deal. When we first discussed it with then he advised we could borrow more than we were actually looking for so fingers crossed that helps. 

We were told a few times the 3 month mortgage payment thing didn't apply, but then just before offer we were told it was the case for all applications now.  That was a few weeks ago so might have changed since but I'd be prepared for it just in case.

firstimebuyer18

Following on from the three month payment I asked our broker and he said it’s not something Kensington advertise but 3 months payments in a savings account is now standard for them in pretty much every case.

bigwillie

Currently going through a similar experience - 3 month mortgage payment evidenced by regular savings -  was not made aware of this requirement at the start of the application. 
Kensington is now unwilling to accept funds in my savings account because it has only recently been paid in :-( 
Any ideas how to get round this?

sam791

Will they not accept it In a gifted form instead ? 

bigwillie

No they will not - because the money has to come from an immediate member of family who must also be also be a UK homeowner. 
so so frustrating

sam791

They have now asked for a landlord reference . I live in social housing . This will take weeks ! 

They already have a years rent statement? 

mundell99

Our application went in at the end of August and we finally got our mortgage offer this week. It wasn't easy, we had to resubmit loads of information sometimes more than once! I had to ask our old landlord for a reference which was abit of a headache. All in it took about 8 weeks. Kensington are very slow but they get there in the end.