Vida Homeloans return to market?

Miraclehome2020

Emeljay19 said:

Hi All
Just thought I would update. Had our verbal offer on Friday 08/01/21 and today solicitor has received paperwork from Vida.
There is a change of circumstances form which requires filling and true Vida style, this is currently taking 10 working days for them to process before they will release the funds. Just a heads up for everyone to factor this in when you’re looking at completion dates. 

Hope everyone is making progress 

Was it a long wait once you had provided further information  at underwriting stage.

Miraclehome2020

SarahMayhtb said:

Miraclehome2020 said:

Emeljay19 said:

Hi All
Just thought I would update. Had our verbal offer on Friday 08/01/21 and today solicitor has received paperwork from Vida.
There is a change of circumstances form which requires filling and true Vida style, this is currently taking 10 working days for them to process before they will release the funds. Just a heads up for everyone to factor this in when you’re looking at completion dates. 

Hope everyone is making progress 

Congratulations thas really positive news. 

We’ve been told today it’s another 35 day wait to get back to underwriters from submitting our further documents, which was only proof of address. How can this even be right? Our application went in middle of October. I’m losing my mind 😩

No that can't be right you would think if someone has already looked at it and asked for 1 more document,its just a case of looking at what has has been sent and approve.

Those who have had their offers what were your time frames  please if you dont mind please 

Miraclehome2020

Time frames  from when you have provided all the requested documents 

AJ1907

SarahMayhtb said:

Miraclehome2020 said:

Emeljay19 said:

Hi All
Just thought I would update. Had our verbal offer on Friday 08/01/21 and today solicitor has received paperwork from Vida.
There is a change of circumstances form which requires filling and true Vida style, this is currently taking 10 working days for them to process before they will release the funds. Just a heads up for everyone to factor this in when you’re looking at completion dates. 

Hope everyone is making progress 

Congratulations thas really positive news. 

We’ve been told today it’s another 35 day wait to get back to underwriters from submitting our further documents, which was only proof of address. How can this even be right? Our application went in middle of October. I’m losing my mind 😩

I think they are now taking into consideration your completion date when prioritising how quickly they revisit your case. We had to escalate our case as we were going to miss our completion date (which unfortunately is still the case.)

AJ1907

Miraclehome2020 said:

Time frames  from when you have provided all the requested documents 

They asked for updated payslips last week, and a few days later they issued the offer. 

Emeljay19

Miraclehome2020 said:

Emeljay19 said:

Hi All
Just thought I would update. Had our verbal offer on Friday 08/01/21 and today solicitor has received paperwork from Vida.
There is a change of circumstances form which requires filling and true Vida style, this is currently taking 10 working days for them to process before they will release the funds. Just a heads up for everyone to factor this in when you’re looking at completion dates. 

Hope everyone is making progress 

Was it a long wait once you had provided further information  at underwriting stage.

Yes, I’m afraid so. We had to provide so much information. The proof of address documents weren’t good enough so we had to appeal as they originally declined us because we couldn’t provide a bank statement which had been posted 2 years ago. 

Our original completion date was 30/11/20. The builders extended this to 18/12/20 and I had to raise a huge stink and complaint via my mortgage broker to get where I am now otherwise god knows how long I would be waiting.
All in all it’s taken 16 weeks for application to offer 

SarahMayhtb

Emeljay19 said:

Miraclehome2020 said:

Emeljay19 said:

Hi All
Just thought I would update. Had our verbal offer on Friday 08/01/21 and today solicitor has received paperwork from Vida.
There is a change of circumstances form which requires filling and true Vida style, this is currently taking 10 working days for them to process before they will release the funds. Just a heads up for everyone to factor this in when you’re looking at completion dates. 

Hope everyone is making progress 

Was it a long wait once you had provided further information  at underwriting stage.

Yes, I’m afraid so. We had to provide so much information. The proof of address documents weren’t good enough so we had to appeal as they originally declined us because we couldn’t provide a bank statement which had been posted 2 years ago. 

Our original completion date was 30/11/20. The builders extended this to 18/12/20 and I had to raise a huge stink and complaint via my mortgage broker to get where I am now otherwise god knows how long I would be waiting.
All in all it’s taken 16 weeks for application to offer 

I had been watching your timeline and had noticed yours had taken a considerable amount of time. I’m a bit confused how some people have applied after us and seem to have progressed quicker. I wondered if type of employment or Vida type made a difference. We are both paye and Vida 3. @Miraclehome2020 have you escalated your application at all? 

Emeljay19

SarahMayhtb said:

Emeljay19 said:

Miraclehome2020 said:

Emeljay19 said:

Hi All
Just thought I would update. Had our verbal offer on Friday 08/01/21 and today solicitor has received paperwork from Vida.
There is a change of circumstances form which requires filling and true Vida style, this is currently taking 10 working days for them to process before they will release the funds. Just a heads up for everyone to factor this in when you’re looking at completion dates. 

Hope everyone is making progress 

Was it a long wait once you had provided further information  at underwriting stage.

Yes, I’m afraid so. We had to provide so much information. The proof of address documents weren’t good enough so we had to appeal as they originally declined us because we couldn’t provide a bank statement which had been posted 2 years ago. 

Our original completion date was 30/11/20. The builders extended this to 18/12/20 and I had to raise a huge stink and complaint via my mortgage broker to get where I am now otherwise god knows how long I would be waiting.
All in all it’s taken 16 weeks for application to offer 

I had been watching your timeline and had noticed yours had taken a considerable amount of time. I’m a bit confused how some people have applied after us and seem to have progressed quicker. I wondered if type of employment or Vida type made a difference. We are both paye and Vida 3. @Miraclehome2020 have you escalated your application at all? 

I am also Vida 3 and both me and my partner are paye. He does get shift allowance and guaranteed overtime which again made it more complex. They wouldn’t take this into consideration and we had to increase our deposit, which luckily we were able to do.
I do think it depends on who your underwriter is & the experience of your broker in dealing with Vida. We were our brokers first case. 

I really hope you guys get your offers soon. 

I’ll give you an update on progress as I go along 😀

Miraclehome2020

Emeljay19 said:

SarahMayhtb said:

Emeljay19 said:

Miraclehome2020 said:

Emeljay19 said:

Hi All
Just thought I would update. Had our verbal offer on Friday 08/01/21 and today solicitor has received paperwork from Vida.
There is a change of circumstances form which requires filling and true Vida style, this is currently taking 10 working days for them to process before they will release the funds. Just a heads up for everyone to factor this in when you’re looking at completion dates. 

Hope everyone is making progress 

Was it a long wait once you had provided further information  at underwriting stage.

Yes, I’m afraid so. We had to provide so much information. The proof of address documents weren’t good enough so we had to appeal as they originally declined us because we couldn’t provide a bank statement which had been posted 2 years ago. 

Our original completion date was 30/11/20. The builders extended this to 18/12/20 and I had to raise a huge stink and complaint via my mortgage broker to get where I am now otherwise god knows how long I would be waiting.
All in all it’s taken 16 weeks for application to offer 

I had been watching your timeline and had noticed yours had taken a considerable amount of time. I’m a bit confused how some people have applied after us and seem to have progressed quicker. I wondered if type of employment or Vida type made a difference. We are both paye and Vida 3. @Miraclehome2020 have you escalated your application at all? 

I am also Vida 3 and both me and my partner are paye. He does get shift allowance and guaranteed overtime which again made it more complex. They wouldn’t take this into consideration and we had to increase our deposit, which luckily we were able to do.
I do think it depends on who your underwriter is & the experience of your broker in dealing with Vida. We were our brokers first case. 

I really hope you guys get your offers soon. 

I’ll give you an update on progress as I go along 😀

I did not escalate our situation, I think it just deepens on your underwriter and how straight forward your circumstances are.

SarahMayhtb

Thank you @Emeljay19!! It’s good to hear about the hurdles faced after offer as I’m learning that none of the process is plain sailing! 

I’ll keep you updated on ours @Miraclehome2020 as we’re on the same timelines now! I’m optimistic that the 34 working day wait is wrong 😬🙏🏻