Vida Homeloans return to market?

Rickydewitt

Evening all

MB just messaged saying VIDA have asked for an explanation for both of our adverse credit history. My partners is clean, it’s just mine. However I wanted to ask if anyone here has been asked to do this also? If so how was it done? Sent in a email? Do I give them a story? I was basically young, stupid and wild. 

bell2020

Yes that's standard procedure. They say every mortgage has a story. We haven't been asked that yet but I know someone else on here said they told their broker and they emailed it across 

Rickydewitt

bell2020 said:

Yes that's standard procedure. They say every mortgage has a story. We haven't been asked that yet but I know someone else on here said they told their broker and they emailed it across 

Oh okay, thanks for confirming
Our MB has just uploaded it to the VIDA potal. I hope they understand my story and how the adverse occurred. Have you been asked anything since submitted your App? 

Resnik001

Rickydewitt said:

Evening all

MB just messaged saying VIDA have asked for an explanation for both of our adverse credit history. My partners is clean, it’s just mine. However I wanted to ask if anyone here has been asked to do this also? If so how was it done? Sent in a email? Do I give them a story? I was basically young, stupid and wild. 

Hi Ricky, did valuation move this along for you. Or do you think this is them doing the initial underwrite, our app was 2 days after yours. So that will give me an indication. Cheers. 

bell2020

Fingers crossed for you.

No, absolutely nothing. Its driving me insane now and I'm constantly chasing my broker. We were asked for extra document and to confirm transaction on our bank statement but that was end of September. I've asked about booking in valuation and she said they won't proceed to valuation until they are happy. So frustrating!

Resnik001

bell2020 said:

Fingers crossed for you.

No, absolutely nothing. Its driving me insane now and I'm constantly chasing my broker. We were asked for extra document and to confirm transaction on our bank statement but that was end of September. I've asked about booking in valuation and she said they won't proceed to valuation until they are happy. So frustrating!

Hoping this comes through for you & you’re family my friend. 

bell2020

@Resnik001 thank you, you too!
 It's driving me insane now just waiting. They told me they are working in date order and are on applications on 29th September. We had to submit extra documents that they received on 1st October. But theyre clearly not working on date order if Ricky's application has progressed and ours hasn't 🙈 I feel like I am turning psycho!!! Just emailed my broker again. I think she is sick of me 😂

Rickydewitt

@Resnik001 - The valuation was done last Thursday 22nd, I have no idea how it went, Esurv did say to the estate agent that the report is sent to the lender in 48-72 hours so I think VIDA either have it or they will have it by tomorrow, although our MB said he can see on the portal it's been carried out. It was this morning he messaged me saying they want an explanation of my adverse so I sent that across asap. I am guessing that we are in the underwriting stage to be honest, but I could be wrong. I would chase your broker vigorously, my attitude is that If I've paid my MB upon application I expect a service so I don't feel bad chasing him 24/7. My understanding is that it's 17 working days for underwriting, we are on day 11, I'm not expecting to hear anything now for this week however I will be chasing my MB for an update Thursday.

@bell2020 - I would defo chase the broker, maybe even use this forum as some examples as that's what I done and magically it got moving, and as for the valuation I can 100% confirm that if you have paid the fee for it you are allowed to request it based on the understanding that if you get declined then that fee isn't refundable, I was just confident and pushed for it and it was done! Question this with your broker, I am proof that the vacation has been carried out during the underwriting stage.

bell2020

@Rickydewitt yes that's what my broker said. She said they don't like to book the valuations in until they are happy to progress because the fee is non refundable after valuation has been carried out. I have emailed her this morning and had an automatic reply to say she is out of the office today 🙄 grr

When we submitted our app it was 9 working days but the next day it changed to 11 working days. Its now been 22 and we've heard nothing!! Just isn't good enough. Apparently it can only be escalated with a solicitors letter. I've tried to be patient but now this is beyond insane 🙈

Rickydewitt

@bell2020 22 days is past their SLA levels so I would be tearing my hair like you are, it's not good enough for sure. I just don't understand why they would take some many applications if they can't the work load, it's beyond me.