Morgage Approved

jenks48

Thank you yes the underwriter had explained so I will get the offer for the lower amount which is better than nothing
 Don't want to lose the house so going for it.

Thank you 

jenks48

haras_n0sirrah said:

if this is an equity share scheme then they will put a 3% interest charge even if you aren't paying it.
I do a lot of equity loans with barclays.

Yes thank you I was also told today been approved the lower amount physical valuation has now been instructed. Do hopefully an offer will come through fingers crossed at some stage..
Thank you.

jenks48

Just to give you an update on my application with Barclays. Underwriter has been assigned my case after the broker put a complaint in.. underwriter has apologised for the mistakes made on my case and the mistake informed information sent pre Coronovirus. I have been accepted a lower amount he has now instructed a valuation. Hoping for a Desktop as I'm only borrowing 65% but not sure if they will on new builds.
Anyone know if this is possible if it has to be a physical valuation my application will go on hold. Shame if it goes that way as house is a new build and empty. Obviously more important things going on

Carl2510

So your having to put down a massive deposit? 

jenks48

its a 30% equity scheme plus I was putting down an extra 5% but my application the amount offered was that I had to put 10% so it's actually 60% my mistake their.

Carl2510

Oh right was going to say that’s a big !!!!!! deposit needed! Lol.

jenks48

Yes there is no way I could raise that. Hard enough finding the shortfall..
Just waiting on valuation but this has been going on for quite some time.

Raajx

We are buying a new build 75% Ltv and put our mortgage application in with Barclays on the 12/3, our valuation was booked for 26/3 obviously this then got cancelled, our mortgage advisor and is did not expect to hear anymore until after lockdown at that point as the valuation was put on hold but we received our mortgage offer unexpectedly on the 22/4 so Barclays are definitely doing desktop valuations on new builds! Fingers crossed they do for you! 

jenks48

Raajx said:

We are buying a new build 75% Ltv and put our mortgage application in with Barclays on the 12/3, our valuation was booked for 26/3 obviously this then got cancelled, our mortgage advisor and is did not expect to hear anymore until after lockdown at that point as the valuation was put on hold but we received our mortgage offer unexpectedly on the 22/4 so Barclays are definitely doing desktop valuations on new builds! Fingers crossed they do for you! 

Arhh that's nice to know. Hopefully they will fingers crossed. Thank you so much for replying and letting me know.

jenks48

Latest on Morgage Application. Underwriter has not instructed a valuation not sure whether it will be a desktop it's a 65%ltv. Am I right there is a good chance of getting a morgage offer if a valuation has been instructed?.
This is a New build and the application seems to have gone on forever..