Vida Homeloans return to market?

bell2020

Resnik001 said:

bell2020 said:

FINALLY!!! Just had an email from our broker to say they are happy with our case and its now subject to valuation. Valuation has been instructed today. 🤞🙌

Many Congratulations 

Thank you 🥰 

bell2020

SarahMayhtb said:

Hi everyone, 

I have been following this thread for sometime now. Our application went in on 13/10/2020. On the 19/10/2020 Vida asked for more statements and payslips for Jan/feb of this year. Since then it has been radio silence. Today our mortgage broker has said Vida have instructed the valuation however our case is still in the queue for initial underwriting which is due on 23/11/2020. Apparently Vida are very far behind and are speeding things up as much as they can but this seems like a very long timescale. I thought Vida only instructed the valuation once initial underwriting was completed. Has anyone else had similar. I can see a few of you have had the valuation instructed today? 

Hi, we had radio silence for about 4 weeks. Then all of a sudden they asked us for proof of address from 2019 and 2018. Last we heard from them was Monday. But today we have heard they're happy with the case and its subject to valuation. Our broker said they won't instruct valuation until they are happy with the case. I know others on here had valuation instructed before initial underwriting was done though. You run the risk of losing valuation fee if they decline you after valuation x good luck 😊

Rickydewitt

bell2020 said:

FINALLY!!! Just had an email from our broker to say they are happy with our case and its now subject to valuation. Valuation has been instructed today. 🤞🙌

Yay well done!! Your nearly there

SarahMayhtb

bell2020 said:

SarahMayhtb said:

Hi everyone, 

I have been following this thread for sometime now. Our application went in on 13/10/2020. On the 19/10/2020 Vida asked for more statements and payslips for Jan/feb of this year. Since then it has been radio silence. Today our mortgage broker has said Vida have instructed the valuation however our case is still in the queue for initial underwriting which is due on 23/11/2020. Apparently Vida are very far behind and are speeding things up as much as they can but this seems like a very long timescale. I thought Vida only instructed the valuation once initial underwriting was completed. Has anyone else had similar. I can see a few of you have had the valuation instructed today? 

Hi, we had radio silence for about 4 weeks. Then all of a sudden they asked us for proof of address from 2019 and 2018. Last we heard from them was Monday. But today we have heard they're happy with the case and its subject to valuation. Our broker said they won't instruct valuation until they are happy with the case. I know others on here had valuation instructed before initial underwriting was done though. You run the risk of losing valuation fee if they decline you after valuation x good luck 😊

4 weeks 🙈 such a long wait! How did you cope?! I’ve seen people have had the valuation done prior to initial underwriting however we’ve not asked for it. It seems they have instructed us of their own accord to speed thing up. But 23/11/2020 seems an awfully long time for initial underwriting when the case was submitted on the 13/10/2020 🤷🏻‍♀️

bell2020

Rickydewitt said:

bell2020 said:

FINALLY!!! Just had an email from our broker to say they are happy with our case and its now subject to valuation. Valuation has been instructed today. 🤞🙌

Yay well done!! Your nearly there

Thank you - I hope so 🤞

SarahMayhtb said:

bell2020 said:

SarahMayhtb said:

Hi everyone, 

I have been following this thread for sometime now. Our application went in on 13/10/2020. On the 19/10/2020 Vida asked for more statements and payslips for Jan/feb of this year. Since then it has been radio silence. Today our mortgage broker has said Vida have instructed the valuation however our case is still in the queue for initial underwriting which is due on 23/11/2020. Apparently Vida are very far behind and are speeding things up as much as they can but this seems like a very long timescale. I thought Vida only instructed the valuation once initial underwriting was completed. Has anyone else had similar. I can see a few of you have had the valuation instructed today? 

Hi, we had radio silence for about 4 weeks. Then all of a sudden they asked us for proof of address from 2019 and 2018. Last we heard from them was Monday. But today we have heard they're happy with the case and its subject to valuation. Our broker said they won't instruct valuation until they are happy with the case. I know others on here had valuation instructed before initial underwriting was done though. You run the risk of losing valuation fee if they decline you after valuation x good luck 😊

4 weeks 🙈 such a long wait! How did you cope?! I’ve seen people have had the valuation done prior to initial underwriting however we’ve not asked for it. It seems they have instructed us of their own accord to speed thing up. But 23/11/2020 seems an awfully long time for initial underwriting when the case was submitted on the 13/10/2020 🤷🏻‍♀️

It is isn't it. Their timescales online at the moment say 21 working days for initial underwriting. When we applied it said 9 working days however from the day of application going in to today has been 30 working days 🙈 it seems all cases are different 🤷‍♀️

Resnik001

Just heard that have instructed our valuation. Is that good?. 

SarahMayhtb

Resnik001 said:

Just heard that have instructed our valuation. Is that good?. 

Ours was instructed today too. Our mortgage advisor said initial underwriting wasn’t complete but they are instructing valuations to speed up their back log. Did your MB say anything like this? 

kays69

SarahMayhtb said:

Hi everyone, 

I have been following this thread for sometime now. Our application went in on 13/10/2020. On the 19/10/2020 Vida asked for more statements and payslips for Jan/feb of this year. Since then it has been radio silence. Today our mortgage broker has said Vida have instructed the valuation however our case is still in the queue for initial underwriting which is due on 23/11/2020. Apparently Vida are very far behind and are speeding things up as much as they can but this seems like a very long timescale. I thought Vida only instructed the valuation once initial underwriting was completed. Has anyone else had similar. I can see a few of you have had the valuation instructed today? 

Hi SarahMayhtb. That is my understanding as well. It took a while for us to get to the valuation instruction. I believe if you pay for your own valuation you can instruct it whenever you want, but there is a risk that if the underwriting fails then you lose your valuation. In our case, Vida are paying the valuation as part of the mortgage, so I believe they only instruct if they are okay with underwriting. Every case is unique so it may be different for other people. i also understand that the rules for Scotland, for instance, are different to England. So maybe someone else here knows differently. Just hang tight. 

sirjp82

Yeah we also had ours passed initial underwriting and passed to valuation today. I have a feeling these may have been done in past but they only got round to updating brokers and systems today . Hence the influx. May be wrong tho. Our application was submitted on 06th oct

JaneEyre

bell2020 said:

FINALLY!!! Just had an email from our broker to say they are happy with our case and its now subject to valuation. Valuation has been instructed today. 🤞🙌

Great news!! So happy for you! 
We were hoping to have our offer today, as they've had our valuation back since Monday, but we've heard nothing.  Our entry date is 2 weeks today.