Waiting for offer

Niccj

Hello all. 
The full app for our mortgage went in last week and the valuation was completed and reported on on Tuesday this week. The surveyor said that there was some historical movement but nothing recent and that it should have no impact on the mortgage offer. My broker told me on Wednesday that he hoped to get an offer that afternoon and he would call me. I haven't yet had the offer and when I have messaged he hasn't responded. Should I be worried or do was he being optimistic saying it should be later in the day on Wednesday? The mortgage is with Kent reliance. They have said they dont need any more information. Opinions please. 👍😊

[Deleted User]

Even if the valuation was done on Tuesday, the surveyor has to send it back and then it has to go through quality checking etc. before the Lender sees it. Then the Lender check it to see if they are happy with it.

So it may not have even got back to the lender until Friday (usually quicker, but some firms do take a long time to put the reports on the system). Assuming Underwriter then has to check it, they could be off or just have lots of work on - so that could take another day or two. 

Or they could well have seen and checked it already, but have queried something (e.g. the movement) with somebody more senior before being able to hopefully approve it.

I think Wednesday was very optimistic for a valuation done on Tuesday. It happens, but more often than not I'd say Thursday as a minimum timescale, and for the unlucky few, Monday/Tuesday.

Hopefully the historic movement isn't causing any issues and you'll hear more early next week, just wanted to let you know that it's not automatically a problem because it's taken so long since Tuesday! Good luck

Thrugelmir

School half term. Reduced staffing levels in the office. 

Niccj

Thanks. Hopefully hear back tomorrow or Tuesday. Really anxious as we went bankropt 10 years ago and surrendered our house as part of the br and have seen that Kent don't lend to people who have had repossessions although the broker said its fine it's there in black and white saying they don't accept so I'm on pins. 

Niccj

I have my offer! 😁

Sammyja15

Hi everyone, reading all the posts and it seems Kent Reliance seem to be good. 

We had our AIP in January. valuation carried out on the 10/2/21. Hard search done on the 3/2/21. We had to provide more documents on 22/2/21 and still not heard anything.
does anyone know the time frames of hearing anything about getting a yes or no answer. We are buying a shared ownership. 

The solicitors have instructed all the searches. 
This waiting is so stressful.

Blade71984

Were going through Kent Reliance, we have the AIP, were just waiting on the property to be released to the market before we can submit our full mortgage application, it's a new build, shared ownership. It's so stressful already, we have had adverse credit in the past, but our MB thinks we should be fine, it's the waiting that kills you.

hippocrates1

Santander gave me an offer same day as application. I don’t think it’s bank dependent. Just about how straightforward the case it. 

katkin804

i had my valuation yesterday and all documents say recieved and satisfactory and credit search done so i'm hoping itll be done soon. it says online valuation received - under review