Mortgage application.

Legacy_user

We have applied for a shared ownership mortgage with Leeds bs on a new build.

02/05/18 DIP
16/05/18 broker sent all documents to Leeds.
18/05/18 I can see a credit check has been done by leeds.
22/05/18 Ring Leeds as our broker isn't replying to emails and I was stressing after reading how long Leeds take and what a pain they can be and Leeds said it's been to the underwriter and everything's been ticked off? and a valuation had been instructed for 26/05/18 (Friday just gone)

We have been told we should know by next Friday.

If it's been to the underwriter and everything has been ticked off and they instructed the valuation I'm hoping it's going to work out ok.

System

Does this sound positive? We are FTB some I'm a bit clueless with everything. I don't think the house will get under valued as it's in a nice area. Do the underwriters do more checks after the valuation. I'd be grateful for some advice. Leeds told me that the underwriter hadn't asked for anything else or wrote any notes on their findings, just that they had ticked everything off.

Thrugelmir

There's no reason to think negatively. However you'll either receive a mortgage offer or you won't. There's little point in second guessing or trying to wheedle information out of the lender.

The mortgage is the relatively straightforward part of the process. The next stage is potentially far more stressful. Relax and chill as much as you can. As much will be out of your direct control.

System

I'm a stress head and hate things being out of my control so I'm struggling mentally, I just can't help it.
Can I ask what you mean by the next stage is potentially far more stressful? Thanks.

Thrugelmir

BeckyH1988 wrote: »

Can I ask what you mean by the next stage is potentially far more stressful? Thanks.

When you've moved properties a few times in your lifetime you'll understand better. As there's no knowing what might happen. Sometimes matters simply fall into place. Other times can be a complete and utter nightmare. Many many variables. That doesn't include the fact that people with different agendas are involved.

jarshay

Do not stress at all - we not long bought our first house and I stressed soo much over the mortgage, but honestly, getting to exchange if contracts was much more stressfull.

bethwilliams95

BeckyH1988 wrote: »

We have applied for a shared ownership mortgage with Leeds bs on a new build.

02/05/18 DIP
16/05/18 broker sent all documents to Leeds.
18/05/18 I can see a credit check has been done by leeds.
22/05/18 Ring Leeds as our broker isn't replying to emails and I was stressing after reading how long Leeds take and what a pain they can be and Leeds said it's been to the underwriter and everything's been ticked off? and a valuation had been instructed for 26/05/18 (Friday just gone)

We have been told we should know by next Friday.

If it's been to the underwriter and everything has been ticked off and they instructed the valuation I'm hoping it's going to work out ok.

Hi,

I was just wondering what happened with your mortgage offer and how long the process took. Our broker has sent our application in today with leeds.