Vida Homeloans return to market?

bell2020

Bloxwich28 said:

Need some help. Vida instructed valuation last week and it was carried out this past Friday. Today our broker told us that the house has been devalued by £12 000. Seller is demanding valuation report but Vida won't give this. Vida is saying they don't send out valuation reports
 Is this the case?
As it stand we are at a stand still as the seller is saying she will not renegotiate the price without seeing the report first. Where do we go from here?  The valuation was done in the presents of the seller and she probably know the reasons why it was valued less than the price we offered. We are not prepared to pay the £12 000 from our pocket either. 

How do you know its been valued 12k less? They don't give out valuation reports no, and they shouldn't tell the vendor any information either as he is your valuer not there's! 

hereshoping34

Hi, sorry for jumping on this....has anyone had any experience with getting a mortgage just after a IVA discharge? I was hoping to use the Scotland first home fund and Vida homeloans are the only adverse lenders that use this but I am not sure I will fit their criteria. Any advice will be appreciated 

bell2020

hereshoping34 said:

Hi, sorry for jumping on this....has anyone had any experience with getting a mortgage just after a IVA discharge? I was hoping to use the Scotland first home fund and Vida homeloans are the only adverse lenders that use this but I am not sure I will fit their criteria. Any advice will be appreciated 

We are on an active DMP and have been for 5 years. That hasn't been a problem so far in our case and our mortgage is subject to valuation. You can view their criteria online if you look on their website as intermediary 

Resnik001

bell2020 said:

hereshoping34 said:

Hi, sorry for jumping on this....has anyone had any experience with getting a mortgage just after a IVA discharge? I was hoping to use the Scotland first home fund and Vida homeloans are the only adverse lenders that use this but I am not sure I will fit their criteria. Any advice will be appreciated 

We are on an active DMP and have been for 5 years. That hasn't been a problem so far in our case and our mortgage is subject to valuation. You can view their criteria online if you look on their website as intermediary 

Did you’re MB say mortgage subject to Val, Val came back us good. Only a few things they asked for payslips, card I have. Been credit checked 3 times hard searches. So unsure what to make of that.  

AJ1907

Sophielucia22 said:

I am so upset/annoyed/peed off. Our broker called and said Vida said no (applied beginning of October) as they won’t give us a mortgage on that house but won’t tell our broker why. I actually cannot believe it. I have no words

So sorry to hear this. I've been quietly following these posts and this is very disheartening. I assume the property is not a new build, and so it may be worth trying to understand their reason why so your broker can inform any other potential lenders (to ensure it won't be an issue for them). 

Sophielucia22

AJ1907 said:

Sophielucia22 said:

I am so upset/annoyed/peed off. Our broker called and said Vida said no (applied beginning of October) as they won’t give us a mortgage on that house but won’t tell our broker why. I actually cannot believe it. I have no words

So sorry to hear this. I've been quietly following these posts and this is very disheartening. I assume the property is not a new build, and so it may be worth trying to understand their reason why so your broker can inform any other potential lenders (to ensure it won't be an issue for them). 

No it’s not a new build. They won’t tell my broker why which I think is ridiculous 

bell2020

Resnik001 said:

bell2020 said:

hereshoping34 said:

Hi, sorry for jumping on this....has anyone had any experience with getting a mortgage just after a IVA discharge? I was hoping to use the Scotland first home fund and Vida homeloans are the only adverse lenders that use this but I am not sure I will fit their criteria. Any advice will be appreciated 

We are on an active DMP and have been for 5 years. That hasn't been a problem so far in our case and our mortgage is subject to valuation. You can view their criteria online if you look on their website as intermediary 

Did you’re MB say mortgage subject to Val, Val came back us good. Only a few things they asked for payslips, card I have. Been credit checked 3 times hard searches. So unsure what to make of that.  

Yes, our packager told our broker the case was fine and it was subject to valuation. We were hard searched the day of application and day of valuation. Just part of their process i suppose!

Sophielucia22

So a quick update, we think Vida declined as the property we are buying is a coach house. Our broker has said he has found another lender for us so we are going to try them instead! Hopefully it’s less stress than what Vida has been!

bell2020

Sophielucia22 said:

So a quick update, we think Vida declined as the property we are buying is a coach house. Our broker has said he has found another lender for us so we are going to try them instead! Hopefully it’s less stress than what Vida has been!

So sorry to hear that. Good luck with your next application!

bell2020

My broker has just emailed to say we are to expect an offer on 11th December!