Vida Homeloans return to market?

bell2020

I know. Its crazy! Thats obviously why they've pulled some of the ltv products to try and cope with the demand.

Rickydewitt

Update. Adverse Letter was uploaded, VIDA confirmed they have it and also the valuation report was sent to them Friday. We have now been told that our next update is in 5-7 working days, from here we should hear if they require more stuff from us or have any questions. Nerve racking. I called my broker this morning to get this update, he really should of called me.

 

kays69

I am not sure if this will be of any help. Our case has been in progress for over 40 days now. 
DIP 13/9/2020
Mortgage illustration: 14/9/2020
Full application: 14/9/2020
Hard searches: 15/9/2020
Adverse questions: 22/9/2020
Along the way: explanations about bank statements, debt consolidation forms, proof of returning expensive PCP, Explanation if we had Covid related holidays (we don't).

Now since two weeks ago, they have just gone quiet. Our MB says they are not picking up phones calls. So, if our timeline is anything to go by, this is taking very long. I guess beggars cannot be choosers. It reminds us that we have adverse credit files. Kind of being put into a naughty corner and wait for your turn!!!!

Hopefully, something will come of it. Please keep updating even after you get your offers and complete as I cannot see many success stories here.

Resnik001

kays69 said:

I am not sure if this will be of any help. Our case has been in progress for over 40 days now. 
DIP 13/9/2020
Mortgage illustration: 14/9/2020
Full application: 14/9/2020
Hard searches: 15/9/2020
Adverse questions: 22/9/2020
Along the way: explanations about bank statements, debt consolidation forms, proof of returning expensive PCP, Explanation if we had Covid related holidays (we don't).

Now since two weeks ago, they have just gone quiet. Our MB says they are not picking up phones calls. So, if our timeline is anything to go by, this is taking very long. I guess beggars cannot be choosers. It reminds us that we have adverse credit files. Kind of being put into a naughty corner and wait for your turn!!!!

Hopefully, something will come of it. Please keep updating even after you get your offers and complete as I cannot see many success stories here.

See with that timeline, I’ll really struggle to conclude purchase of property. We are HTB Scotland, so for argument sake if we got the offer on the 12th next month, it will be 8th December before we can conclude. My credit file is good, just my partner had a couple of defaults, was going to go myself with TSB, Halifax... Think underwriting has started as been asked questions regarding COVID. Though as mentioned above by Ricky, maybe due to Changes of withdrawing Products, applications may proceed a bit quicker. One poster took 17 days, though I understand all underwriters are really working to the max at the moment. 

Resnik001

Rickydewitt said:

@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.

Thanks Ricky, sounds positive that underwriting is progressing for you & valuation was wise decision & gets that milestone completed. See it’s my mate who has put forward the application & he’s really busy, so I can wait. My only worry is, as HTB it takes that bit longer to progress due too governmental procedures. Really getting a bit concerned, not part of a chain but my worry is family may want the cash asap especially with Christmas not far on the horizon. 

Though I think underwriting has Started for us due to being asked questions of COVID holidays. 

Resnik001

kays69 said:

I am not sure if this will be of any help. Our case has been in progress for over 40 days now. 
DIP 13/9/2020
Mortgage illustration: 14/9/2020
Full application: 14/9/2020
Hard searches: 15/9/2020
Adverse questions: 22/9/2020
Along the way: explanations about bank statements, debt consolidation forms, proof of returning expensive PCP, Explanation if we had Covid related holidays (we don't).

Now since two weeks ago, they have just gone quiet. Our MB says they are not picking up phones calls. So, if our timeline is anything to go by, this is taking very long. I guess beggars cannot be choosers. It reminds us that we have adverse credit files. Kind of being put into a naughty corner and wait for your turn!!!!

Hopefully, something will come of it. Please keep updating even after you get your offers and complete as I cannot see many success stories here.

Kay, my main gripe is people being labelled you poetically put it ‘naughty’ step. Those that Lord it Over people Squeaky clean brigade 😊, oh if you don’t pay etc... Though everyone has that moment in life, when things go wrong through ill health, mental health issues or just a rotten bit of luck.. sorry for my rant, but I do believe the banks which we bailed out, should have a quota of people they can help per year. Probably am being a fantasist, just my view. 

Rickydewitt

Resnik001 said:

Rickydewitt said:

@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.

Thanks Ricky, sounds positive that underwriting is progressing for you & valuation was wise decision & gets that milestone completed. See it’s my mate who has put forward the application & he’s really busy, so I can wait. My only worry is, as HTB it takes that bit longer to progress due too governmental procedures. Really getting a bit concerned, not part of a chain but my worry is family may want the cash asap especially with Christmas not far on the horizon. 

Though I think underwriting has Started for us due to being asked questions of COVID holidays. 

No worries mate, I'm just trying to update everyone with my progress so people can keep track. One thing my broker did tell me this morning was that each case is different, some can be progressed faster than others due to the nature of the case as a whole, someone who may not have as many defaults as someone else there case might be easier to assess hence why everyone's feedback or updates are different, if that makes sense? I haven't had any COVID holiday questions as of yet, did they ask that because you may have been on furlough? Yet again, could be different strokes for different folks. 

Rickydewitt

Resnik001 said:

kays69 said:

I am not sure if this will be of any help. Our case has been in progress for over 40 days now. 
DIP 13/9/2020
Mortgage illustration: 14/9/2020
Full application: 14/9/2020
Hard searches: 15/9/2020
Adverse questions: 22/9/2020
Along the way: explanations about bank statements, debt consolidation forms, proof of returning expensive PCP, Explanation if we had Covid related holidays (we don't).

Now since two weeks ago, they have just gone quiet. Our MB says they are not picking up phones calls. So, if our timeline is anything to go by, this is taking very long. I guess beggars cannot be choosers. It reminds us that we have adverse credit files. Kind of being put into a naughty corner and wait for your turn!!!!

Hopefully, something will come of it. Please keep updating even after you get your offers and complete as I cannot see many success stories here.

Kay, my main gripe is people being labelled you poetically put it ‘naughty’ step. Those that Lord it Over people Squeaky clean brigade 😊, oh if you don’t pay etc... Though everyone has that moment in life, when things go wrong through ill health, mental health issues or just a rotten bit of luck.. sorry for my rant, but I do believe the banks which we bailed out, should have a quota of people they can help per year. Probably am being a fantasist, just my view. 

Agreed!! Everyone deserves a second chance 

bell2020

I get that each case is different.

However our packager stated they are strictly working on case order and as of last Wednesday were working on cases on 29th September. Clearly not when ours hasn't progressed at all and there are others who applied after us that have progressed further 🙄 so frustrating 

bell2020

Vida has changed their underwriting time scale to 19 working days. It was 17 working days this morning. They are definitely snowed under 😭