Vida Homeloans return to market?

bell2020

periwinkleperkins said:

bell2020 said:

Well we still haven't heard anything, so frustrating. I really don't understand how it can take atleast 14 days :-(

Hope you hear something soon, might be worth checking your broker re-registered as that was our initial holdup as nobody told him he needed to! 

Thank you. Yeah our application was submitted 2 weeks ago today (a monday) and then she said she had to sort the re-registering on the Friday. Then it was Bank Holiday weekend. But still.... its been a long time compared to everyone else! Its just a DIP..... I wouldn't question it if it was the full application lol!!

bell2020

any update from anyone??

periwinkleperkins

Waiting for our valuation which is booked for Tuesday. 

bell2020

Good luck!

We are still waiting for our DIP!! 3 weeks now. They emailed Tuesday asking if we have 5% cash deposit (we are using a large gifted equity deposit) and that they had further questions regarding the property but haven't heard what!?? Don't understand why they are being so thorough a fussy just for a DIP!? 🙈 On vidas website it says a DIP referral is 24 hours........ its been 3 weeks!!!

periwinkleperkins

Thanks and I’ll keep my fingers crossed for you, most frustrating part is relying on broker and packager to do their job and not being able to call Vida directly... hopefully when you get the DIP it’ll be plain sailing with the application! 

jmilne

Vida have had our full mortgage application to review for 10 days now but not a word from them or our broker yet. Our exchange date on our new build is meant to be today as well the 14th.....

jmilne

Ok another quick update, I’ve had my mortgage broker chase Vida today and our case was fully underwritten on Saturday just gone and they are waiting for a valuation date to be booked in. They’ve asked for another payslip and an explanation as to why I’ve had bad credit in past but think we’re finally getting somewhere....

periwinkleperkins

jmilne said:

Vida have had our full mortgage application to review for 10 days now but not a word from them or our broker yet. Our exchange date on our new build is meant to be today as well the 14th.....

I wouldn’t worry too much about the new build developer trying to force through a quick exchange, ours has a 21 day clause in the reservation but the sales office know things are progressing and that COVID has slowed everything down. 

Even the Law Society guidance on conveyancing is 8 to 12 weeks so it’s a mute point to put that type of clause and would probably be deemed unfair under Consumer Rights Act. 

periwinkleperkins

jmilne said:

Ok another quick update, I’ve had my mortgage broker chase Vida today and our case was fully underwritten on Saturday just gone and they are waiting for a valuation date to be booked in. They’ve asked for another payslip and an explanation as to why I’ve had bad credit in past but think we’re finally getting somewhere....

That’s great news, our survey is tomorrow and we were asked last week to explain our adverse credit situation - apparently Vida day “every mortgage has a story” and they want to understand your past which seems better than “computer says no”. 

jmilne

periwinkleperkins said:

jmilne said:

Ok another quick update, I’ve had my mortgage broker chase Vida today and our case was fully underwritten on Saturday just gone and they are waiting for a valuation date to be booked in. They’ve asked for another payslip and an explanation as to why I’ve had bad credit in past but think we’re finally getting somewhere....

That’s great news, our survey is tomorrow and we were asked last week to explain our adverse credit situation - apparently Vida day “every mortgage has a story” and they want to understand your past which seems better than “computer says no”. 

Ahhh perfect so we may hear soon with a valuation date. I want the Val booked and done before the country potentially locks down again. Let us know how it goes after your Valuation tomorrow.