Kent reliance

Danielhix90

Hi guys,

First time buyers here and our MB submitted our application last week for a SO newbuild.I spotted several errors on the application summary, such as saying it's not a new build when it is, the wrong number of bedrooms, saying we pay two lots of rent and have an existing mortgage which we don't, and saying I'm in probation in work when I'm not lol.... Not a good start.

The developer has updated us today and said the valuation has been booked in four days time, is it usually this quick? Surely the lender couldn't have checked docs etc yet. 

I'm worried the mistakes have ruined our chances, have to wait until next week to contact MB to sort.

Thanks

Bella2013

Danielhix90 said:

Hi guys,

First time buyers here and our MB submitted our application last week for a SO newbuild.I spotted several errors on the application summary, such as saying it's not a new build when it is, the wrong number of bedrooms, saying we pay two lots of rent and have an existing mortgage which we don't, and saying I'm in probation in work when I'm not lol.... Not a good start.

The developer has updated us today and said the valuation has been booked in four days time, is it usually this quick? Surely the lender couldn't have checked docs etc yet. 

I'm worried the mistakes have ruined our chances, have to wait until next week to contact MB to sort.

Thanks

I recently went through the application and the valuation was booked straight away, the credit check was also done. This was before the checking of documents. 

Did you have an agreement in principle with them? I’m sure the correct info will be sent through and there won’t be an issue. They were on a 5 days turnaround for viewing documents when I went through this in September. 

Danielhix90

Bella2013 said:

Danielhix90 said:

Hi guys,

First time buyers here and our MB submitted our application last week for a SO newbuild.I spotted several errors on the application summary, such as saying it's not a new build when it is, the wrong number of bedrooms, saying we pay two lots of rent and have an existing mortgage which we don't, and saying I'm in probation in work when I'm not lol.... Not a good start.

The developer has updated us today and said the valuation has been booked in four days time, is it usually this quick? Surely the lender couldn't have checked docs etc yet. 

I'm worried the mistakes have ruined our chances, have to wait until next week to contact MB to sort.

Thanks

I recently went through the application and the valuation was booked straight away, the credit check was also done. This was before the checking of documents. 

Did you have an agreement in principle with them? I’m sure the correct info will be sent through and there won’t be an issue. They were on a 5 days turnaround for viewing documents when I went through this in September. 

Thanks

Yeah the hard search was done the same day of application, we have a DIP yes. 

We don't have any adverse credit , but our statements are bad due to lots of spending. Also have a few credit cards and car finance but never missed a payment.

Where are you up to now?

Bella2013

Danielhix90 said:

Bella2013 said:

Danielhix90 said:

Hi guys,

First time buyers here and our MB submitted our application last week for a SO newbuild.I spotted several errors on the application summary, such as saying it's not a new build when it is, the wrong number of bedrooms, saying we pay two lots of rent and have an existing mortgage which we don't, and saying I'm in probation in work when I'm not lol.... Not a good start.

The developer has updated us today and said the valuation has been booked in four days time, is it usually this quick? Surely the lender couldn't have checked docs etc yet. 

I'm worried the mistakes have ruined our chances, have to wait until next week to contact MB to sort.

Thanks

I recently went through the application and the valuation was booked straight away, the credit check was also done. This was before the checking of documents. 

Did you have an agreement in principle with them? I’m sure the correct info will be sent through and there won’t be an issue. They were on a 5 days turnaround for viewing documents when I went through this in September. 

Thanks

Yeah the hard search was done the same day of application, we have a DIP yes. 

We don't have any adverse credit , but our statements are bad due to lots of spending. Also have a few credit cards and car finance but never missed a payment.

Where are you up to now?

If you have a DiP I’m sure you will be fine. They may just ask you about particular payments etc…
I got my mortgage offer after 3 weeks of applying. I did need to supply a couple of extra documents and had a couple of questions about payments on my bank statements. I’m now at the exchange contracts stage.

Tatters26

"but our statements are bad due to lots of spending"

What kind of things? I was worried about mine as there was eBay, PayPal, etc and they didn't bat an eyelid. Our MB told us long as it's not gambling and it doesn't put you in your overdraft, that's really all they're after.

Danielhix90

Tatters26 said:

"but our statements are bad due to lots of spending"

What kind of things? I was worried about mine as there was eBay, PayPal, etc and they didn't bat an eyelid. Our MB told us long as it's not gambling and it doesn't put you in your overdraft, that's really all they're after.

Just like buying new appliances, days out with the kids etc, I did a bit of investing using trading212 and bought a little bit of cryptocurrency, not a regular thing though.

Will wait and see I guess, the valuation is meant to be this Thursday and haven't heard anything else from MB.

Got the legal docs through from solicitor today, think it's odd that have to do all that and can still get declined on the mortgage, so would be pointless.

Tatters26

I think that’s because I’m assuming you’re paying for the valuation, not them, so if it turns out to be unnecessary then it’s your money wasted not their’s.

what I will say is though very few people (if any?) on here reported being turned down by them 

Danielhix90

Tatters26 said:

I think that’s because I’m assuming you’re paying for the valuation, not them, so if it turns out to be unnecessary then it’s your money wasted not their’s.

what I will say is though very few people (if any?) on here reported being turned down by them 

Thanks, hopefully it will be ok. Valuation was done today so I guess it will go to underwriting now. Hopefully won't be too long to get an answer 

Midders1983

Hi all, newbie!
so I’ve reserved a new build S/O property in September and after all the faffing from the housing association back and forth for three weeks asking for duplicate docs over and over I’ve finally submitted the mortgage app today!
the house was ready to move into when I reserved, Taylor wimpey sold to HO via an estate agents so there’s a lot of fingers in this pie  (house) already!
I got a MIP with KR no problem, then it lapsed due to the other faffing around and then got another no problem too. 

Doesn’t stop me worrying that I won’t get an offer after all this! £500 res fees, £495 broker fee, £399 lender fee, £200 valuation and £145 booking fee.. if I don’t get an offer that’s £1739 I’ll never see again!
anyone gone through all this then been turned down? Well scared!! 

Danielhix90

Midders1983 said:

Hi all, newbie!
so I’ve reserved a new build S/O property in September and after all the faffing from the housing association back and forth for three weeks asking for duplicate docs over and over I’ve finally submitted the mortgage app today!
the house was ready to move into when I reserved, Taylor wimpey sold to HO via an estate agents so there’s a lot of fingers in this pie  (house) already!
I got a MIP with KR no problem, then it lapsed due to the other faffing around and then got another no problem too. 

Doesn’t stop me worrying that I won’t get an offer after all this! £500 res fees, £495 broker fee, £399 lender fee, £200 valuation and £145 booking fee.. if I don’t get an offer that’s £1739 I’ll never see again!
anyone gone through all this then been turned down? Well scared!! 

Hey

I just got an offer today after two weeks of applying.

Our statements were a mess and I mean a mess. Cred cards too, but they only asked when is a loan being paid off, no other questions at all.

We really did not expect an offer and was worried about losing the money too, but here we are with an offer.

From the reading I've done, KR seem to accept most people, as long as you can afford it.

Good luck!