Vida Homeloans return to market?

Rickydewitt

bell2020 said:

thewolfgear said:

@bell2020 & @Rickydewitt - Are you FTB?

Yes we are! Not using HTB though.

Yeah, FTB and not using HTB @t@thewolfgear

bell2020

We have instructed our solicitor too! As their work can take 6-8 weeks so starting them sooner Will hopefully speed the whole process 🤞

kays69

Do we have any success stories here? Does anyone here know anyone who got offered by Vida? I think such reviews would be refreshing because we all seem to be so pent up with waiting here. Let us hear some success stories, please. Anyone?

By the way, we have had an update that a couple of days means the end of business Friday. This, in turn, means we will get an update next Monday (In November!!). 

emmabricksandmortar

Hello  just wanted to update you all as I’d stopped reading the thread because things got a little....out of hand!

Vida offered our mortgage last week but rather than the 2 year 4.1% it was on a 5 year 4.89%. With our mortgage that’s a difference of a few hundred a month and being locked in for 5 years did not sit well. This happened because our mb didn’t include my salary on the application but at no time was told of the change in product. I contacted a lovely mortgage broker I found on here who said she would be able to get the 2 year with Precise at 3.89% but after going through the pain of 6 weeks of waiting I just didn’t know what to do. We <cough> ‘discussed’ the situation with the original MB who tried to push us into the 5 year and eventually, after a week of pain, Vida agreed to reinstate the original product (which they had removed from the market’ so that we could pull our 5yr and reapply for the 2yr. 

Now I don’t really know where the missing links were but I think it’s 50/50 Vida and MB. Luckily things have turned around massively and through much ‘discussion’ and ‘gentle persuasion’ we now have the offer we wanted. 

It’s not been easy, hang in there! Once it gets to the underwriter they seem to do the job pretty quickly but the back of the queue part after that is extremely painful, particularly over a weekend!! Our underwriter escalated towards the end as the solicitor wrote a note saying we were due to exchange within the next week, which MB passed on. 

If anyone is struggling too much with Vida and wants details of the MSE board MB I spoke to dm me - not sure if I can write it on here. 

Please ask if you have any questions and I’d be happy to help. We are FTB using HTB (England), applied on 14th September! 

Rickydewitt

emmabricksandmortar said:

Hello  just wanted to update you all as I’d stopped reading the thread because things got a little....out of hand!

Vida offered our mortgage last week but rather than the 2 year 4.1% it was on a 5 year 4.89%. With our mortgage that’s a difference of a few hundred a month and being locked in for 5 years did not sit well. This happened because our mb didn’t include my salary on the application but at no time was told of the change in product. I contacted a lovely mortgage broker I found on here who said she would be able to get the 2 year with Precise at 3.89% but after going through the pain of 6 weeks of waiting I just didn’t know what to do. We <cough> ‘discussed’ the situation with the original MB who tried to push us into the 5 year and eventually, after a week of pain, Vida agreed to reinstate the original product (which they had removed from the market’ so that we could pull our 5yr and reapply for the 2yr. 

Now I don’t really know where the missing links were but I think it’s 50/50 Vida and MB. Luckily things have turned around massively and through much ‘discussion’ and ‘gentle persuasion’ we now have the offer we wanted. 

It’s not been easy, hang in there! Once it gets to the underwriter they seem to do the job pretty quickly but the back of the queue part after that is extremely painful, particularly over a weekend!! Our underwriter escalated towards the end as the solicitor wrote a note saying we were due to exchange within the next week, which MB passed on. 

If anyone is struggling too much with Vida and wants details of the MSE board MB I spoke to dm me - not sure if I can write it on here. 

Please ask if you have any questions and I’d be happy to help. We are FTB using HTB (England), applied on 14th September! 

Congrats on the offer, seemed like a pain but you got there. Did the new MB push for the 2 year deal or the original MB? It’s crazy how the MB didn’t include your salary

emmabricksandmortar

The original MB...to be fair they worked very hard to make up for their mistakes but it was not without a ridiculous amount of stress. They had me as ‘named’ but actually that took my credit file into account and not my income, which took us down a bracket.

Resnik001

emmabricksandmortar said:

Hello  just wanted to update you all as I’d stopped reading the thread because things got a little....out of hand!

Vida offered our mortgage last week but rather than the 2 year 4.1% it was on a 5 year 4.89%. With our mortgage that’s a difference of a few hundred a month and being locked in for 5 years did not sit well. This happened because our mb didn’t include my salary on the application but at no time was told of the change in product. I contacted a lovely mortgage broker I found on here who said she would be able to get the 2 year with Precise at 3.89% but after going through the pain of 6 weeks of waiting I just didn’t know what to do. We <cough> ‘discussed’ the situation with the original MB who tried to push us into the 5 year and eventually, after a week of pain, Vida agreed to reinstate the original product (which they had removed from the market’ so that we could pull our 5yr and reapply for the 2yr. 

Now I don’t really know where the missing links were but I think it’s 50/50 Vida and MB. Luckily things have turned around massively and through much ‘discussion’ and ‘gentle persuasion’ we now have the offer we wanted. 

It’s not been easy, hang in there! Once it gets to the underwriter they seem to do the job pretty quickly but the back of the queue part after that is extremely painful, particularly over a weekend!! Our underwriter escalated towards the end as the solicitor wrote a note saying we were due to exchange within the next week, which MB passed on. 

If anyone is struggling too much with Vida and wants details of the MSE board MB I spoke to dm me - not sure if I can write it on here. 

Please ask if you have any questions and I’d be happy to help. We are FTB using HTB (England), applied on 14th September! 

Thank you Emma, for the extensive breakdown. Really appreciated, Emma is this initial underwriting which is the quickest part. From valuation to offer how long was this?. 

How long did it take to receive offer email/post. 

 And just one final question 😂, did you have any communication yourself with underwriter at Vida. 

JaneEyre

We had an update from our broker today, to say that the underwriter was happy with everything we'd supplied and a valuation has now been instructed. I was a bit shocked as I had spoken to the broker yesterday, explaining that I was anxious that the seller might put the house back on the market, as we're almost 5 weeks in! He then came back saying Vida had requested 2 further documents (a copy of my savings account statement and our first home fund award letter). I thought this might mean we would end up at the back of the queue again.  

Our date of entry is supposed to be 3 weeks on Friday, but I'm not convinced that will happen. Who knows though?!  I'm just relieved that we're seeing some progress! 

@bell2020 If you haven't had any updates, hopefully you will soon, as we applied on the same day!

emmabricksandmortar

From valuation to the wrong offer it was 3 days working days....I think that was due to the solicitor letter. As soon as the offer was released we were emailed a copy and it arrived in the post the next day.

No communication with the underwriter at all, I figured as they don’t speak to the applicant there was no point in pushing for that. The MB said they seemed good though, the only problem was getting hold of them!

bell2020

JaneEyre said:

We had an update from our broker today, to say that the underwriter was happy with everything we'd supplied and a valuation has now been instructed. I was a bit shocked as I had spoken to the broker yesterday, explaining that I was anxious that the seller might put the house back on the market, as we're almost 5 weeks in! He then came back saying Vida had requested 2 further documents (a copy of my savings account statement and our first home fund award letter). I thought this might mean we would end up at the back of the queue again.  

Our date of entry is supposed to be 3 weeks on Friday, but I'm not convinced that will happen. Who knows though?!  I'm just relieved that we're seeing some progress! 

@bell2020 If you haven't had any updates, hopefully you will soon, as we applied on the same day!

Ohh fab, well done!! Do you know how soon your valuation is? 

We had an update yes. They requested proof of address for our family member gifting equity. We have already provided proof of our cash deposit. And they asked our reason for bad credit. They also asked for an explanation of a linked address on our credit file. I checked our reports and on my husbands there is an address we have never lived at. Its the same street and postcode as our previous address but different house name. No idea why. Hoping it isn't going to cause issues!!