Vida Homeloans return to market?

Movas21

we’ve been following this thread for some time as pretty much in similar position to many others. Our DIP came end of Oct, full application early Nov. Long wait then escalated case as our seller had hoped to complete last week.

Call today from our MB asking for adverse credit letter & looks like we are good to go next week.

Our circumstances are I have a perm f/t steady job but poor credit rating due to protracted & acrimonious divorce & home sale leading to cycle of short term debt. Partner has impeccable credit rating, good bank balance due to redundancy last year (non Covid related) but has a job offer pending employment checks. 

We also have a gifted 25% deposit on a mortgage of less than £170k over less than 20 years. 

Hang in there & escalate if you can. 

SarahMayhtb

@Miraclehome2020 how long after you escalated did you get your offer? We have now escalated and I remember our applications being at similar stages before you got your offer. Also did they ask for anymore information or did it go straight to offer? 

rhiannon123

Currently going through the appeal process. 14 weeks now.

elliew95

Every other day Vida are asking for more information since we escalated 2 weeks ago, luckily they’re responding quickly (24 hours) to each document. Supposedly just sent in our last document how long till offer?🤞🏼

SarahMayhtb

elliew95 said:

Every other day Vida are asking for more information since we escalated 2 weeks ago, luckily they’re responding quickly (24 hours) to each document. Supposedly just sent in our last document how long till offer?🤞🏼

How long after your escalation went in did Vida start asking for more documents? 

elliew95

SarahMayhtb said:

elliew95 said:

Every other day Vida are asking for more information since we escalated 2 weeks ago, luckily they’re responding quickly (24 hours) to each document. Supposedly just sent in our last document how long till offer?🤞🏼

How long after your escalation went in did Vida start asking for more documents? 

I’d say a few days after, we’ve had to submit documents around 4/5 times now since around the 18th 

Ismaimran

elliew95 said:

SarahMayhtb said:

elliew95 said:

Every other day Vida are asking for more information since we escalated 2 weeks ago, luckily they’re responding quickly (24 hours) to each document. Supposedly just sent in our last document how long till offer?🤞🏼

How long after your escalation went in did Vida start asking for more documents? 

I’d say a few days after, we’ve had to submit documents around 4/5 times now since around the 18th 

What sort of documents have there asked for if u dont mind me asking
We are supporting to hear back this week..but think we may need to escalate toi

SarahMayhtb

Ismaimran said:

elliew95 said:

SarahMayhtb said:

elliew95 said:

Every other day Vida are asking for more information since we escalated 2 weeks ago, luckily they’re responding quickly (24 hours) to each document. Supposedly just sent in our last document how long till offer?🤞🏼

How long after your escalation went in did Vida start asking for more documents? 

I’d say a few days after, we’ve had to submit documents around 4/5 times now since around the 18th 

What sort of documents have there asked for if u dont mind me asking
We are supporting to hear back this week..but think we may need to escalate toi

When we hit underwriters 4 weeks ago they asked for updated payslips and bank statements. Proof of address (a posted statement or bill from 1&2 years ago), some question regarding our credit report and that’s it. Then we got put back in the queue. 

elliew95

Ismaimran said:

elliew95 said:

SarahMayhtb said:

elliew95 said:

Every other day Vida are asking for more information since we escalated 2 weeks ago, luckily they’re responding quickly (24 hours) to each document. Supposedly just sent in our last document how long till offer?🤞🏼

How long after your escalation went in did Vida start asking for more documents? 

I’d say a few days after, we’ve had to submit documents around 4/5 times now since around the 18th 

What sort of documents have there asked for if u dont mind me asking
We are supporting to hear back this week..but think we may need to escalate toi

We are doing a let to buy mortgage, but it was p60, proof of deposit for new home, proof we was paying off help to buy.

rhiannon123

They asked for all sorts from us. When they shouldn’t have. If you submitted your application last nov/Oct you shouldn’t have to provide recent bank statements pay slips as it should be assessed on the ones you submitted with your application. Hence our appeal. Partner worked away up until December (self employed earning 66k for last year) now works at home since lockdown estimating to earn 42k over the next year. Offered us less because of this. However if our application was looked at when we submitted without all of the ridiculous delays we would have had an offer for what we needed by now. Mortgage broker is very experienced with this lender and has decided to appeal the case. I think we are ok if it doesn’t go through. 14 weeks has taken to excitement out of it now. Ha