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HELP! Stressing over mortgage application.
Mcgough221
Posts: 57 Forumite
Hi everyone,
First time posting here. We have finally reserved our new home. We currently live in a area where house prices have gone sky high and can’t afford the 4 bed we want/need (for long term with 3 girls). So we have decided to move out of the area by about a 20min drive and save ourselves 100k! We found a house for 210k and plan on using HTB. Used the builders mortgage advisor literally just because they was free and just to see what they said. AIP was short 3k and she couldn’t do anything else for us. That’s fine we had no intentions of using her anyways but did worry me. Then went to L&C and they couldn’t beat it so got one of the most recommended mortgages brokers around here on the case. He didn’t understand what the problem was. My husband has a few later payments (1) on report. One recent one that was a mistake and is being removed. Combined income of 40k with all current debts to be satisfied in next few weeks. We need a mortgage of 157k. He said give him 24hrs and all will be sorted. The AIP got referred. Hard credit checks was run and they asked for all documents up front. (Wage slips, letters confirming husbands new position and pay rise) and it was passed for full amount we need. Do you think I’m stressing over nothing? Am I right that most of the underwriting has already been done? We are hoping for a quick turn around because of it and not go backwards and forwards. I have a spot with him tomorrow but I haven’t slept all weekend because of this so any help and advice would be great. Tia.
First time posting here. We have finally reserved our new home. We currently live in a area where house prices have gone sky high and can’t afford the 4 bed we want/need (for long term with 3 girls). So we have decided to move out of the area by about a 20min drive and save ourselves 100k! We found a house for 210k and plan on using HTB. Used the builders mortgage advisor literally just because they was free and just to see what they said. AIP was short 3k and she couldn’t do anything else for us. That’s fine we had no intentions of using her anyways but did worry me. Then went to L&C and they couldn’t beat it so got one of the most recommended mortgages brokers around here on the case. He didn’t understand what the problem was. My husband has a few later payments (1) on report. One recent one that was a mistake and is being removed. Combined income of 40k with all current debts to be satisfied in next few weeks. We need a mortgage of 157k. He said give him 24hrs and all will be sorted. The AIP got referred. Hard credit checks was run and they asked for all documents up front. (Wage slips, letters confirming husbands new position and pay rise) and it was passed for full amount we need. Do you think I’m stressing over nothing? Am I right that most of the underwriting has already been done? We are hoping for a quick turn around because of it and not go backwards and forwards. I have a spot with him tomorrow but I haven’t slept all weekend because of this so any help and advice would be great. Tia.
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Comments
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need paragraphs, need to wait for the mortgage application as we are not the lenders and not enough information in terms of credit history, debt, deposit etc"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Sorry I’m on my phone it just won’t let me put them in for some stupid reason :mad: is it usual to have a full credit check and all documents up front? The only think they want from me for the full application was the reservation form for the house.0
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Depends on the lender. But if you only have an AIP then you haven't got a decision.0
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Yes it’s a AIP but went though to underwriters for desicion with all documents up front as they requested. Hard search run too. It’s with Natwest.0
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