Vida Homeloans return to market?

Rickydewitt

Definitely snowed under it seems. They should work in case submission date order to be honest as it's only fair. God knows
il keep reporting 

Rickydewitt

bell2020 said:

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 

If your packager said they are working on 29th Sept but you submitted on 24th Sept surely your packager would question and escalate this with them? Means they are breaching their own SLA's .

alanastill12

weve had our app in for over 5 weeks, tbh it's taking the mick a bit isn't it? 
We escallated last week on 72hr basis (was supposed to get keys last fri) but then nothing til yesterday - got an update, with underwriters, will be reviewed by end of play Wednesday - not amused! seems like the escallation doesn't mean !!!!!! all! 

bell2020

@Rickydewitt our application was submitted the 24th to lock in the product/rate but when they do the 48hr document vetting they asked for extra document and questions regarding statement on the 29th. Sent in extra documents that evening and they apparently received and looked at the case on the 1st. So they are going from 1st apparently which is why she said they will be getting to ours soon as they're working on the 29th cases. 

Our packager has excellent reviews online and I have faith in them... its just the lender 🙄🙈

Resnik001

Rickydewitt said:

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. 

Makes perfect sense mate. Ricky is really helpful mate, am in a different position due to as above so he’s doing this to help me & my family out. Though if I was paying for a MB I’d be calling him when he’s watching Great British Bake Off 😂. I agree with you, more less complex application is more faster it will be processed they must have different underwriting teams for each case. I got asked regarding COVID, though never took any payment holidays & was lucky to be working straight through. 

Each person is unique to the next person, I’ve only got 1k cc debt & my car. Just pay everything on time, though my missus has 2 defaults and one cc. I pay all her bills, just wish I could get that break in life. 

Hopefully you’ll be on the road too an offer. I think you may be if they are talking 7 days for an update 

bell2020

We finally had an update this evening -

Address ID requested for the family member gifting equity deposit.

Question regarding an arrangement to pay on my credit file ( its included in our DMP we have been paying for 5yrs )

Questions regarding linked addresses on our credit files. 

Reason for credit.

Have replied and submitted utility bill for family member. I wonder how long we will be left waiting now 🙄🙈😂

Rickydewitt

bell2020 said:

We finally had an update this evening -

Address ID requested for the family member gifting equity deposit.

Question regarding an arrangement to pay on my credit file ( its included in our DMP we have been paying for 5yrs )

Questions regarding linked addresses on our credit files. 

Reason for credit.

Have replied and submitted utility bill for family member. I wonder how long we will be left waiting now 🙄🙈😂

That’s good, things are moving then for you. Glad to hear 😊

a friend I know is applying with VIDA too, and she uploaded her reason for adverse letter yesterday and surprisingly her MB emailed her tonight saying they’ve accepted the reason and now will be booking the valuation, this again proves they are working in different ways, that was a quick update for her. 

bell2020

Oh waw, that sounds promising then. There's no written rule at all is there, can't predict how things will go or what happens next 🙈 and I'm normally a control freak 😂

thewolfgear

@bell2020 & @Rickydewitt - Are you FTB?

thewolfgear

Hey All, 

I have applied to Vida Homeloans also, I have found this forum helpful and been stalking it for a few days to see what other peoples stories are thought I'd give you mine and will keep posting along the journey just as you all have. 

Joint Application - Both First Time Buyers
I have adverse credit 1 default 20 Months ago (£269) and 2 defaults 2.5 years ago (£112, £1100) (3 in total) All defaults settled as soon as they were registered. Reason for adverse was financial independence following a divorce.
My new partner whom I'm buying with has a clean rap sheet. 
80% LTV Purchase with a Gifted Deposit of 20%. Loan Value is 2.2 x our joint income.

DIP - 20/10
Full application, Fees paid & Hard search done - 23/10
Silence - 23/10 - Current.