Vida Homeloans return to market?

Rickydewitt

bell2020 said:

Underwriting for us was 30 working days 🙈 

The valuation company contacted the seller Friday to book it in. No appointment was made though, not sure why 🙄🤷‍♀️ 

Strange that no appointment was made. Usually they call the seller or estate agent don’t they to book a date. That’s what happened to us

Resnik001

JaneEyre said:

Resnik001 said:

All I know is that we were in underwriting stage, have supplied all docs, pay slips etc. I’ve got no adverse credit, just my partner has some defaults paid off about 3 years ago. Got told it went to Valuation stage, unsure what to do - do you book that yourself?. 

Our broker dealt with our valuation.  I didn't think we needed one, as we're in Scotland and I know some lenders use the Home Report, but we did.

We are in Scotland also, apologies if am sounding stupid!!, believe Home report was sent through with full application. Do you need to pay for valuation?. or does Vida pass home report over?.  Then you hear about it. 

JaneEyre

Resnik001 said:

JaneEyre said:

Resnik001 said:

All I know is that we were in underwriting stage, have supplied all docs, pay slips etc. I’ve got no adverse credit, just my partner has some defaults paid off about 3 years ago. Got told it went to Valuation stage, unsure what to do - do you book that yourself?. 

Our broker dealt with our valuation.  I didn't think we needed one, as we're in Scotland and I know some lenders use the Home Report, but we did.

We are in Scotland also, apologies if am sounding stupid!!, believe Home report was sent through with full application. Do you need to pay for valuation?. or does Vida pass home report over?.  Then you hear about it. 

You're not sounding stupid at all. It's all quite confusing and I struggle to get my head around it all!!
I can't remember if we sent them the home report when we were applying, but I think we did.  We didn't have to pay for the valuation as it was included in the deal we applied for.  I thought they would just use the valuation from the home report, but they didn't, they arranged their own physical valuation.  
Hope this helps! 

SarahMayhtb

Rickydewitt said:

Resnik001 said:

All I know is that we were in underwriting stage, have supplied all docs, pay slips etc. I’ve got no adverse credit, just my partner has some defaults paid off about 3 years ago. Got told it went to Valuation stage, unsure what to do - do you book that yourself?. 

Not sure if this helps but the timescale they post on there website I.e currently 22 days means that’s how long the case in the queue for, I know ours hasn’t been underwritten yet as my MB confirmed that, he said it’s due to be looked at this week. I thought all along it was 22 days for the whole underwriting process. 

We thought exactly the same and then our MB said we were still in the queue and hasn’t been done yet. I’ll keep you posted too @Rickydewitt it’s really helpful having someone at the same stage as us. 

Rickydewitt

SarahMayhtb said:

Rickydewitt said:

Resnik001 said:

All I know is that we were in underwriting stage, have supplied all docs, pay slips etc. I’ve got no adverse credit, just my partner has some defaults paid off about 3 years ago. Got told it went to Valuation stage, unsure what to do - do you book that yourself?. 

Not sure if this helps but the timescale they post on there website I.e currently 22 days means that’s how long the case in the queue for, I know ours hasn’t been underwritten yet as my MB confirmed that, he said it’s due to be looked at this week. I thought all along it was 22 days for the whole underwriting process. 

We thought exactly the same and then our MB said we were still in the queue and hasn’t been done yet. I’ll keep you posted too @Rickydewitt it’s really helpful having someone at the same stage as us. 

Likewise, thank you 😊

Happy Sunday to everyone 

sirjp82

We are at same place from 05th nov . Valuation booked and on our mortgage portal shows initial underwrite complete and next step is valuation. But broker said it’s getting looked at week commencing 16th nov 

Resnik001

JaneEyre said:

Resnik001 said:

JaneEyre said:

Resnik001 said:

All I know is that we were in underwriting stage, have supplied all docs, pay slips etc. I’ve got no adverse credit, just my partner has some defaults paid off about 3 years ago. Got told it went to Valuation stage, unsure what to do - do you book that yourself?. 

Our broker dealt with our valuation.  I didn't think we needed one, as we're in Scotland and I know some lenders use the Home Report, but we did.

We are in Scotland also, apologies if am sounding stupid!!, believe Home report was sent through with full application. Do you need to pay for valuation?. or does Vida pass home report over?.  Then you hear about it. 

You're not sounding stupid at all. It's all quite confusing and I struggle to get my head around it all!!
I can't remember if we sent them the home report when we were applying, but I think we did.  We didn't have to pay for the valuation as it was included in the deal we applied for.  I thought they would just use the valuation from the home report, but they didn't, they arranged their own physical valuation.  
Hope this helps! 

In Scotland when doing a valuation as you know it’s probably just a desktop one, taking advice of the surveyor. Thanks Jane 😊, yes some people do have different steps in this process everyone is unique in their application. 

I know last update I had was we were in initial underwriting stage, though I was only asked if I took any payment holidays and nothing else. So was thinking the initial underwrite is ok otherwise wouldn’t instruct the val. 

Then once that is complete, it goes back to underwriting for offer stage 

Hopefully for us all it all goes well, hopefully looking at moving in. Due to renting, I don’t want to be paying anymore rent money which can go on buying things for the new home. 

Resnik001

Rickydewitt said:

bell2020 said:

Underwriting for us was 30 working days 🙈 

The valuation company contacted the seller Friday to book it in. No appointment was made though, not sure why 🙄🤷‍♀️ 

Strange that no appointment was made. Usually they call the seller or estate agent don’t they to book a date. That’s what happened to us

Initial underwrite must be compete mate? Surely. As days shown on website you go by when application was sent in, and any future changes to initial underwrite is for new applications. Hope I made sense there. 

For example if you sent it in on the 8 nov and site showed initial underwrite 8 days, then you’re app would be looked at in that sequence of dates. But if the number of days goes up, then that’s for new applicants. Sure that’s what Bell2020 was told by the MB. 

Rickydewitt

Resnik001 said:

Rickydewitt said:

bell2020 said:

Underwriting for us was 30 working days 🙈 

The valuation company contacted the seller Friday to book it in. No appointment was made though, not sure why 🙄🤷‍♀️ 

Strange that no appointment was made. Usually they call the seller or estate agent don’t they to book a date. That’s what happened to us

Initial underwrite must be compete mate? Surely. As days shown on website you go by when application was sent in, and any future changes to initial underwrite is for new applications. Hope I made sense there. 

For example if you sent it in on the 8 nov and site showed initial underwrite 8 days, then you’re app would be looked at in that sequence of dates. But if the number of days goes up, then that’s for new applicants. Sure that’s what Bell2020 was told by the MB. 

Your probably right, I’m just so confused mate lol, so many different time scales and different things being said by VIDA. Let’s see what this week brings, hopefully we all get some good updates. 

bell2020

Yes that is what our mortgage broker said - the current underwriting times are for new applications. However.... when we applied it said 9 working days... then they changed it to 11. But we have waited 30 working days for inital underwriting to complete and valuation to be instructed. So I don't even know if they're following those timescales anyway 🤷‍♀️😂 our case is apparently complex (new build, DMP, gifted equity & cash deposit) so maybe thats why ours took longer.