FTB question - Mortgage application

hunte78

Quick question for any brokers or people with experience.

FTB, mortgage application was submitted to Clydesdale this week. We had to pay a non-refundable £400 fee for survey at the time of the submission (our broker advised that it shouldn't be a problem as we are buying a new build and this is just a box ticking exercise?!) Our account was debited by Clydesdale on Wednesday but today we noticed it has been credited the £400. Is this a sign that our mortgage application has been rejected?

Heam2005

Did you find out why it was refunded?
How has your application process been so far? Ours has just gone in with Clydesdale!

hunte78

Yes, our survey fee was returned by the underwriter as they declined the application due to lack of employment history. Originally the underwriter requested further info but between us supplying it and them acknowledging it the system declined us. Our broker has appealed and it has been reinstated awaiting an underwriters decision.

Heam2005

Fingers crossed for you!
Have you heard anything?

Heam2005

Have you had any update with your application with Clydesdale hunte78?

hunte78

Yes, they came back over then last week or so requesting more information, which we duly provided. Our broker called me today to confirm that Clydesdale are happy to lend subject to valuation. How is yours going?

Heam2005

Aww amazing!! Good luck for all of that.
They have come back again asking for more information, so we provided that today.
When did you last submit more info? Looking for a rough estimate on how much longer it will take!

hunte78

The below is my rough timeline:

18/02/2019 - Application to Clydesdale
19/02/2019 - further info needed for underwriter
21/02/2019 - copy of employment contracts requested
26/02/2019 - signed employment contracts requested
04/03/2019 - Offer made subject to valuation

Good luck, stressful isn't it?!

hunte78

Does anyone know a rough timescale for Clydesdale to carry out valuations. We had our mortgage approved on a new build subject to valuation, house is still being built. Our broker let us know this on 4th March but we haven't heard anything since. We are getting a bit anxious as developer wants us to sign missives by the 13th March and their solicitor seems unwilling to extend this date.

Heam2005

How did the valuation go hunte78?
We are still waiting to hear about our decision!!

hunte78

Valuation was completed in 7th March and we received a copy of the form yesterday. Clydesdale have now confirmed mortgage approval and we should have offer paperwork tomorrow to sign.

Our broker was in contact with their case manager at Clydesdale throughout the process so they were aware of everything as it was happening, which seemed to make underwriting easier.