Vida Homeloans return to market?

AJ1907

Miraclehome2020 said:

So with this lockdown what does it for our pending applications with Vida.

I think they are already working from home, so it may not affect them as much. Also, if they are unable to work from home the Government has stated that it is okay to work from their place of employment. Although, still worried that Vida will use it as an excuse to justify the delays.

Let's stay positive.

Miraclehome2020

Hi guys

Have had an update from Vida today requesting a lot of documents about addresses  and name changes  can i please kindly ask what did  people put as reasons why they had adverse credit .

Ismaimran

Miraclehome2020 said:

Hi guys

Have had an update from Vida today requesting a lot of documents about addresses  and name changes  can i please kindly ask what did  people put as reasons why they had adverse credit .

It's a good sign at least you have had a update. We havnt heard anything at all. 
What sort of info have there asked for if you dont mind me asking. Do you have a lot off address on credit file etc.
I have a few address changes also so I can get prepared in advance if there ask 

Miraclehome2020

Ismaimran said:

Miraclehome2020 said:

Hi guys

Have had an update from Vida today requesting a lot of documents about addresses  and name changes  can i please kindly ask what did  people put as reasons why they had adverse credit .

It's a good sign at least you have had a update. We havnt heard anything at all. 
What sort of info have there asked for if you dont mind me asking. Do you have a lot off address on credit file etc.
I have a few address changes also so I can get prepared in advance if there ask 

Have changed my name so had 2 names on credit file,5years  worth of addresses, updated bank statements, explain transactions. Reasons why bad credit,where u got deposit 

AJ1907

Miraclehome2020 said:

Hi guys

Have had an update from Vida today requesting a lot of documents about addresses  and name changes  can i please kindly ask what did  people put as reasons why they had adverse credit .

Being honest is the best way forward (which is stating the obvious). However, this link might be useful as it gives more guidance on how to structure the letter and the content.
https://www.business.com/articles/writing-effective-credit-explanation-letters-for-fha-mortgages/

SarahMayhtb

Miraclehome2020 said:

Hi guys

Have had an update from Vida today requesting a lot of documents about addresses  and name changes  can i please kindly ask what did  people put as reasons why they had adverse credit .

We have had the same! Mainly address questions. All sent back today, did your mortgage advisor give you any indication of how long to expect a decision? 

Emeljay19

Ismaimran said:

Emeljay19 said:

I don’t know if this helps anyone but we were declined and we appealed. The appeal process is ridiculously long winded though. I kind of wish I’d just gone with another lender at that stage though. It’s not fair that they keep moving the goal posts constantly.

Did you get a offer after appealing?

Haven’t had our offer yet no. I’m hopeful we will get the offer by Friday. We had to increase our deposit and provided proof of that to Vida on Monday so hopefully will go smoothly now 🤞🏻

Miraclehome2020

SarahMayhtb said:

Miraclehome2020 said:

Hi guys

Have had an update from Vida today requesting a lot of documents about addresses  and name changes  can i please kindly ask what did  people put as reasons why they had adverse credit .

We have had the same! Mainly address questions. All sent back today, did your mortgage advisor give you any indication of how long to expect a decision? 

The questions were mainly to clarify names and addresses  and ensure they have up to date information coz its been a while since we applied. So hopefully it won't be long  to hear  outcome 

Miraclehome2020

SarahMayhtb said:

Miraclehome2020 said:

Hi guys

Have had an update from Vida today requesting a lot of documents about addresses  and name changes  can i please kindly ask what did  people put as reasons why they had adverse credit .

We have had the same! Mainly address questions. All sent back today, did your mortgage advisor give you any indication of how long to expect a decision? 

He said up to 3 working days so knowing Vida will give it until Monday  but its difficult not to think about it. Lol

Ismaimran

Emeljay19 said:

Ismaimran said:

Emeljay19 said:

I don’t know if this helps anyone but we were declined and we appealed. The appeal process is ridiculously long winded though. I kind of wish I’d just gone with another lender at that stage though. It’s not fair that they keep moving the goal posts constantly.

Did you get a offer after appealing?

Haven’t had our offer yet no. I’m hopeful we will get the offer by Friday. We had to increase our deposit and provided proof of that to Vida on Monday so hopefully will go smoothly now 🤞🏻

Fingers crossed for you