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Anyone waiting on Barclays mortgage approval?
mrandmrsmole
Posts: 1 Newbie
Hello! New on the forums but have been using the MSE site for years. Feeling all the nerves right now as we await our mortgage decision! Obviously Christmas and New Year has had an impact on timescales.
We've reserved a new build which will be ready in July - 81% LTV - had a good amount of equity from our first home.
Partner employed, I'm self-employed so a little extra complexity with showing retained profits, dividends etc. Borrowed quite a bit to get my business running but all loans repaid and no adverse credit history.
17th Dec 2019 - DIP via broker, sent to underwriting.
18th Dec - Declarations signed
3rd Jan - Requested additional proof of company dividends 2018 / 2019 from my accountants
30th Dec - Valuation attempted, not done (wrong postcode and valuer couldn't find development!)
10th Jan - 2nd valuation done.
And now we wait! EEK!
UPDATE:
16th Jan: I chased our mortgage broker today because its been 6 days since the valuation. Turns out the valuer put a slightly different address on the mortgage system so he's had to mark the correction on our application. Frustrating as I didn't want to chase the MB any earlier than today, but wishing I had now as we're told we won't get an update till Monday.
2ND UPDATE:
APPROVED ON 17th!
We've reserved a new build which will be ready in July - 81% LTV - had a good amount of equity from our first home.
Partner employed, I'm self-employed so a little extra complexity with showing retained profits, dividends etc. Borrowed quite a bit to get my business running but all loans repaid and no adverse credit history.
17th Dec 2019 - DIP via broker, sent to underwriting.
18th Dec - Declarations signed
3rd Jan - Requested additional proof of company dividends 2018 / 2019 from my accountants
30th Dec - Valuation attempted, not done (wrong postcode and valuer couldn't find development!)
10th Jan - 2nd valuation done.
And now we wait! EEK!
UPDATE:
16th Jan: I chased our mortgage broker today because its been 6 days since the valuation. Turns out the valuer put a slightly different address on the mortgage system so he's had to mark the correction on our application. Frustrating as I didn't want to chase the MB any earlier than today, but wishing I had now as we're told we won't get an update till Monday.
2ND UPDATE:
APPROVED ON 17th!
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