Mortgage application worries

AMJ89

Hi all,

Am new to posting on here and wanted to hear stories on mortgage applications. I’m a worrier! A big one! I have had no reason to be worried but I’m just terrified that we get our mortgage approved. We are first time buyers with a 10% deposit, no overdrafts, Little balances on credit cards (nothing major at all) Here is our timeline of application so far. We are now at underwriting stage and waiting for valuation date to be set. I suppose my major worry is the underwriters looking at our bank statements, we have no overdrafts on account, no bounces payments ect. But I wouldn’t say we skrimped on our outgoings the last few months as I didn’t expect to find a house so quickly and put an offer in, so have brought what we want as and when we wanted. Spoke to MA today to be told that is still with underwriters and we should here by Friday! My deposit has come from inheritance that I have saved for a while and 2.5% is gifted by mother.

14/7 - Offer made & accepted on house
16/7 - DIP Done/soft search
16/7 - Hard search on credit file
16/7 - Mortgage fee & HBS paid
18/7 - Mortgage declaration signed and returned
19/7 - bank statements sent
20/7 - gifted deposit form signed/sent back
23/7 - solicitor documents sent and £300 on account paid
24/7- inheritance prove sent to solicitor

So worried and nurvous!

jaelato1

You really should look at this thread - It might be helpful. I wouldnt worry tbh

https://forums.moneysavingexpert.com/discussion/4711931/anyone-want-to-join-me-awaiting-mortgage-decision

Nervousnelly

I've just been in a very similar situation to yourself and was extremely worried. We only had a 5% deposit, I had a good credit history, partner had little credit history, we hasn't planned on buying anytime soon but we found our dream home and our offer was accepted. I was extremely worried about the mortgage application because we hasn't been watching our finances on the run up to our mortgage application last week and I had found myself short on funds at the end of most months so was worried my bank statements would let us down. I was so worried I found it hard to sleep and eat! But we finally got our mortgage application accepted today! We are with RBS who I have read can be strict but we got it approved! So don't worry too much hun, easier said than done I know! If you are anything like me you have probably read horror stories online of people doing everything right and still getting their mortgage refused. But if that were to happen just remember there are other lenders you can try, That's what I told myself. But I'm sure you will be fine! Fingers and toes crossed for you.

AMJ89

Thank you for your reply’s!

Congratulations to you Nurvousnelly !!!127882; I’m hoping that we hear something by Friday, am not sure I’ll survive the weekend not knowing anything... I have literally googled the crap out every possible outcome and I’m sure my husbands head is done in my constant going on! !!!128514;...