Vida Homeloans return to market?

jmilne

bell2020 said:

@jmilne 20 working days? Or just 20 days? Oh really... I'm hoping ours won't take that long!! Are you using a packager? 

Yes Vida removed themselves from the market. I don't think we will have a full blown lockdown again. Just local lockdowns. There is very little cases where I am in Wales so it wouldn't make sense for us to go into lockdown. I'm hoping little lockdowns will happen instead 🤞🤞 good luck!

No they’ve just had it 20 days, since the 3rd of September. That’s when our mortgage broker sent off the full application to Vida and we paid vidas £180 fee. We aren’t using a packager but over the past week they’ve required a couple etc documents from my fiancée as she has had a couple of different addresses in the past couple of years. I heard there might be a 2 week full national lockdown at the end of October so hopefully we have our offer by then ha

periwinkleperkins

bell2020 said:

@periwinkleperkins thats amazing!!! Congratulations!! 

Our broker said once our full application has been submitted she will also instruct the solicitor too? Was that how yours was done? I assumed a solicitor was instructed after a mortgage offer!? 

We instructed a solicitor when our offer was accepted, there was a risk we’d have to pay their fees even if a mortgage offer didn’t happen, but we wanted things to progress quickly... didn’t speed things up in the end as they used a search agent instead of local authority and our lender won’t accept it so we’ve started the searches again! 

emmabricksandmortar

Such a relief to hear the good news on your application @periwinkleperkins you must be so pleased...other than having to wait a couple of weeks.

I was speaking to a guy at work today whose sister is a solicitor - she’s adamant even if lockdown happens the mortgages will carry on because of the havoc it causes on the entire market when they are pulled.

bell2020

Our solicitors quote says "no completion, no fee" and they'll be instructed once full application goes in by Friday.

We have just paid £520 to Vida.... £340 valuation fee & £180 assesment fee!? 

emmabricksandmortar

Who asked you to pay the valuation fee, @bell2020 ? We paid the £180 last Tuesday but nothing on a valuation fee - did that request come from Vida?

bell2020

@emmabricksandmortar my broker sent me a link to make the payment. It was from our packager and for £520. She is putting our application through on Friday

emmabricksandmortar

We’ve been told our application is with the underwriter who has asked for confirmation of HTB. Unfortunately we didn’t realise we needed to do this until last week and haven’t heard back from the HTB scheme yet 😬 does anyone know how long HTB applications usually take? 

alanastill12

which HTB are you using - i'm in scotland so it's all diffrent 

emmabricksandmortar

England - midlands! On the phone to try and get through to them now but 50th in the queue.

jmilne

We’ve got our HTB approval already and sent it to the solicitor and our MOrtgage advisor. It didn’t take too long, about 2 weeks? What’s this extra Vida fee? All we have had to pay is £180 and then an arrangement fee of £995 which is getting added onto our mortgage. So we only have had to pay the £180 upfront.