Vida Homeloans return to market?

SarahMayhtb

Miraclehome2020 said:

Finally completed and have now moved in our Dream home.Guess the wait was all worth it in the end.

Congratulations 🎉 we’re due to complete next week! We all got there in the end 🔑🏡 💕

HFPG07

Hi All, we applied October 13, received offer December. Exchanged in January. My credit report had no issues, my wife had some defaults. What I would say to anyone waiting, please keep the faith. Good luck all. 

Snuggles_01

Hi All, this is my first post. 

I’ve been following the thread for a while as my husband and I have submitted an application to Vida. We got a DIP back in Oct and submitted a full application on 4 Nov; valuation was completed on 19 November. Everything seemed to be going well but then it really slowed down. We’ve only just got the first underwriting stage checked on 5th Feb when we replied to 3 questions they asked us about childcare. Now we are being told they’ve received our response but it will take 36 working days to get to it. The SLA is changing daily as I have seen previously but I’m starting to lose hope that we will ever see an offer from them. Has anyone else been told it is 36 working days? 

SarahMayhtb

Snuggles_01 said:

Hi All, this is my first post. 

I’ve been following the thread for a while as my husband and I have submitted an application to Vida. We got a DIP back in Oct and submitted a full application on 4 Nov; valuation was completed on 19 November. Everything seemed to be going well but then it really slowed down. We’ve only just got the first underwriting stage checked on 5th Feb when we replied to 3 questions they asked us about childcare. Now we are being told they’ve received our response but it will take 36 working days to get to it. The SLA is changing daily as I have seen previously but I’m starting to lose hope that we will ever see an offer from them. Has anyone else been told it is 36 working days? 

We got told this when we got to the first underwriting stage in January. Speak to your solicitor and get them to write an escalation letter, it will need to say that you have a pending completion date or that you have missed one otherwise they will not escalate your application. Once escalated we had our offer with 2 weeks. 

cornishspaniel

Snuggles - my broker and solicitor escalated before this point, so we were getting a 5 day turnaround after answering questions. We had to escalate or risked missing completion date and the developers were not happy to wait any longer 

Snuggles_01

Thank you for your responses. I have asked my solicitor to write a letter for escalating but unfortunately they are not willing to put it into a letter as we don’t have a completion date set as yet. I will try to chase them to see if it gets me anywhere. I have in the meantime asked our developer if they can provide a letter to see if that will help. 

Ismaimran

Snuggles_01 said:

Hi All, this is my first post. 

I’ve been following the thread for a while as my husband and I have submitted an application to Vida. We got a DIP back in Oct and submitted a full application on 4 Nov; valuation was completed on 19 November. Everything seemed to be going well but then it really slowed down. We’ve only just got the first underwriting stage checked on 5th Feb when we replied to 3 questions they asked us about childcare. Now we are being told they’ve received our response but it will take 36 working days to get to it. The SLA is changing daily as I have seen previously but I’m starting to lose hope that we will ever see an offer from them. Has anyone else been told it is 36 working days? 

Were in the same situation to urself too applied first week of November valuation 27th 
And then nothing after.....we were told that we would hear back first week if February but it's nearly coming to end of February know and were still stuck in the same situation

Ismaimran

We just got an update from broker that underwriters are working from 23rd to 24th November cases. We submitted our last document on 25th. And our case will be reviewed in next 2 days. We have just sent update bank statements and pay slips so at least there have them
Hopefully it's good news soon 

kpw93

Has anyone heard any whispers/rumours about when they might return to the purchase market? Presumably once they have cleared their backlog of cases?

Snuggles_01

Ismaimran said:

We just got an update from broker that underwriters are working from 23rd to 24th November cases. We submitted our last document on 25th. And our case will be reviewed in next 2 days. We have just sent update bank statements and pay slips so at least there have them
Hopefully it's good news soon 

Was the last document submitted 25th November? Fingers crossed you get good news. I’m still waiting for them to look at our responses to those questions. It’s getting frustrating now because it’s been such a long time.