Kent reliance

tana2011

Is anyone knows how long KR takes from full mortgage application to offer?. Done my full application last week Thursday and submitted all the requested documents through broker and paid all the related fees. I’m buying a buy to let and I already have a residential mortgage last 6 years. Got declined by few high street lenders already due to affordability on rental and the property being 6 bedrooms which they think it could be potentially HMO. This is my last try and I’m putting 25% deposit. DIP went well and full application went well to. Thanks 

Jennifer0902

We submitted on 04/06/21, they requested additional docs on 08/06/21 and instructed valuation which was done 16/06/21. Our mortgage adviser told us on Friday it’s 3 working days for valuation to be assessed and then a further 24 hours to issue mortgage offer if all is ok. Hopefully we should have an offer by the end of the week!! Praying we do as this wait is KILLLLING me! Personally I think Kent have been fab with there timings. 

tana2011

Hi Jennifer, fingers crossed 🤞 you get your mortgage offer soon. This is my last try with KR after getting 5 declined from the major lenders. Never missed any payment with any lenders in the past have an existing mortgage with hsbc for the past 6 years. Just trying to buy this bloody buy to let investment property so I can look for retirement plan. Nothing wrong on my credit file just I’m not a cup of tea for the mainstream lenders as I’m a first time Landlond and the property I’m purchasing it’s 6 bedrooms which is an issue for lenders unfortunately 

Jennifer0902

Hopefully Kent is the one for you! I haven’t seemed to of read anyone being declined on here so hopefully that’s a good sign and they offer you the mortgage! It’s such a long process isn’t it I’ll just be happy when it’s over. It’s a world wind of emotions one second I get so excited and the next I feel sick with fear lol 

tana2011

I hope you get your mortgage too. Are you a first time buyer?. Did you apply with any other lender before applying with KR?. I have read lots of positive reviews on here and my broker said I have best possible chance with KR than any other lender. But I heard KR their process is very slow. Are you buying in London?. 

Jennifer0902

Thank you! Yes we’re a first time buyer and buying through shared ownership. This is the first lender we’ve applied to and so far personally I’ve found them to be quite fast (submitted additional documents and they were satisfied the same day!) so I’m feely very optimist that we will get a update this week on how valuation went. We applied for KR as my boyfriend has a settled default on his account (only £57!) from august 2016 - frustrating as give it a few months it’ll drop off his file!! My credit is crystal clean and apart from the default so is his! I’ve read comments on here people getting their mortgages with CCJ’s etc so I’m feeling very hopeful! We’re buying our house in Manchester.

tana2011

I hope you guy’s get the mortgage. KR seems to be more reasonable than any other lender. I have nothing on my credit file but this COVID lender are very picky and first time Landlond for them is very risky. I’m buying the in Kent to let out. Hopefully you guys get the offer this week. I haven’t heard anything from KR yet but they’ve taken the application fee and valuation fee on Thursday. I was almost giving up the hope after getting let down by high street lenders until I approach a mortgage broker. I’m putting £170k deposit but still lenders are still hesitating to lend but let’s see what KR will do once they start underwriting the application hopefully from tomorrow  

Jennifer0902

We submitted friday 4th June and had first update on Tuesday 8th so hopefully you’ll get an update tomorrow if we’re looking at the same kind of timing! Good luck I hope it works out for you!! 🤞🏻

tana2011

Thank you… don’t forget to share your good news and fingers crossed 🤞 you get yours.. 🙏 

tana2011

Just had an upset from my mortgage broker KR said the underwriter will be looking at my application by close of business on Thursday and they instructed the valuation company and waiting for a date. Application submitted last week Thursday seems very slow process considering reading on KR website that they usually underwriter’s the application within 2 working days.