Mortgage application - is no news good news?

confusionanddelay

Broker put our mortgage application in last Friday (15th Feb) and the hard credit searches were done that day. Since then … nothing …

I don't want to chase as i know it's not really that long, but it feels like forever!

Is that normal? I was expecting requests for more info just going by the timelines on here. If there was a problem we'd be told wouldn't we?
It's Leeds we've applied to and their website says they have an 8 day turnaround at the moment.

i'm trying and failing not to stress about it!

[Deleted User]

No news is no news.

Just sit tight or give your broker a call.

Bermonia

WOW... that is literally NO time in mortgage world!

Be patient it is a very long and drawn out process.

Thrugelmir

confusionanddelay wrote: »

Broker put our mortgage application in last Friday (15th Feb) and the hard credit searches were done that day. Since then … nothing …

Lender needs to follow due process. Might be half term week as well in their office. Which may delay the process a little. If the lender needs nothing from you then it's most likely good news.

MalcRH12

They have an 8 day turnaround at present and you're worrying after 5 days. Chill :beer:

Anxiousannie

Do they have half term too??? Might explain why ours hasn't looked at our case for 7 days now
Never realised some mortgage companies take off half term too!

confusionanddelay

Thanks all. I really do need to chill (and stop googling timescales for Leeds building society mortgages etc!)

I wasn't expecting a decision so soon, but I thought we would be asked for more info or something.

We supplied 3 months payslips, 3 years accounts and SA302's for my husband, 3 months bank statements, but only his business accounts, not personal, and only my personal account which shows my salary credits and general expenditure. I haven't supplied our joint bills account which we both pay into for food rent etc and I thought we might be asked for these.

I had an operation in October which required 6 weeks off, so my payslips show some sick pay - I thought they might query this. They might still I suppose.

I realise noone here can tell me what's going on, just hoping a few people might share their experiences.


Ours is a new build, and we're FTB so no chain to worry about, so it's really just our mortgage i'm worrying about.

confusionanddelay

Anxious, I didn't realise they had half term either!

katherz44

confusionanddelay wrote: »

Thanks all. I really do need to chill (and stop googling timescales for Leeds building society mortgages etc!)

I wasn't expecting a decision so soon, but I thought we would be asked for more info or something.

We supplied 3 months payslips, 3 years accounts and SA302's for my husband, 3 months bank statements, but only his business accounts, not personal, and only my personal account which shows my salary credits and general expenditure. I haven't supplied our joint bills account which we both pay into for food rent etc and I thought we might be asked for these.

I had an operation in October which required 6 weeks off, so my payslips show some sick pay - I thought they might query this. They might still I suppose.

I realise noone here can tell me what's going on, just hoping a few people might share their experiences.


Ours is a new build, and we're FTB so no chain to worry about, so it's really just our mortgage i'm worrying about.

I completely understand your impatience as I am also a FTB and am feeling just the same!!:rotfl: I don't know if it's of interest as our mortgage was applied for with Halifax but our timeline is:

15th Feb - application for full mortgage submitted via broker
19th Feb - broker uploaded all supporting documents for lender to review
20th Feb - query from lender regarding additional income, (our broker captured child maintenance payment as investment income so a quick fix)
21st Feb - call from broker to advise our valuation is booked for tomorrow

Expecting to receive our mortgage offer mid next week all being well.

At this stage I'm telling myself to stay patient as the process is going to be a long one, but I'm sure your broker won't mind your ringing for an update.

confusionanddelay

Thanks for that, nice to hear from others in the same boat! Wow, that's all really quick! Sounds like it should be plain sailing now :j

Ours is with Leeds who I've heard can be slow - but their response time on their website says 1 working day to the initial assessment, 3 working days for underwriting and 8 days in total.
I'm telling myself that if there were any serious problems we would know by now. So stressful!

katherz44

I would agree with you in that no news is good news... however, I have read some posts on these forums where there's been a breakdown in communication between lender, broker and customer.

Give them a call, explain you're feeling anxious being a FTB, and ask them for an update and also next steps. You won't be the first nor the last to ask for an update...

What's the worst that can happen? They'll ask you to call back in a few days, or they might even have some news for you!?