Kent reliance

SuseOrm

Still waiting 🙄

Rc0105

Oh no. I’m still waiting for the solicitors to complete everything!

SuseOrm

Offer through this morning at 8.30am,  as soon as they have all the information they seem to move very quickly 

Rc0105

SuseOrm said:

Offer through this morning at 8.30am,  as soon as they have all the information they seem to move very quickly 

That’s great news for you yay!

cllola

What a great thread. My application was submitted to KR on wednesday. MB says I should have an update in 4 working days. Nail biting isn't it! Can someone put my mind at rest that they are quite lenient? 
Income is £47k sole applicant, two defaults from 5 years ago, clean credit history since but I am paying off loans at £100 per month from over 6 years ago (no longer on credit file), they were aware of that at DIP and accepted the ongoing payments.  no other credit. I keep worrying they will decline me! 

Rc0105

cllola said:

What a great thread. My application was submitted to KR on wednesday. MB says I should have an update in 4 working days. Nail biting isn't it! Can someone put my mind at rest that they are quite lenient? 
Income is £47k sole applicant, two defaults from 5 years ago, clean credit history since but I am paying off loans at £100 per month from over 6 years ago (no longer on credit file), they were aware of that at DIP and accepted the ongoing payments.  no other credit. I keep worrying they will decline me! 

They do seem to be able to accommodate most situations 😊I had a fair bit of debt and so did my partner but out weighed by earnings so think you will be ok

SuseOrm

cllola said:

What a great thread. My application was submitted to KR on wednesday. MB says I should have an update in 4 working days. Nail biting isn't it! Can someone put my mind at rest that they are quite lenient? 
Income is £47k sole applicant, two defaults from 5 years ago, clean credit history since but I am paying off loans at £100 per month from over 6 years ago (no longer on credit file), they were aware of that at DIP and accepted the ongoing payments.  no other credit. I keep worrying they will decline me! 

Sounds like you’ll be absolutely fine I’m just worried about what happens at the end of the two years I do not want to end up on their standard variable rate.  

ArfaanO

Hi all. Such a good thread! I wanted to give you all a bit of background into my journey so far (which is far from over). I found the perfect shared ownership property on sharetobuy and registered my interest back in December 2021. I got signed off by the housing association on the 14th January and began my search for a mortgage offer. I have some adverse credit with registered defaults in 2017 and the latest one in 2019. I also had to make an arrangement to pay on my car finance November 2021 which is now clear (arrears are cleared and account back up to date). I went with a broker who arranged a DIP with Together within 2 days, I paid the valuation fee and a day before the valuation was carried out my MB called and said Together have declined the application due to the underwrite not being happy with the adverse credit. I then approached Kensington and got declined due to the arrangement to pay on the car finance. At present, my MB made the full application to Kensginton on the 28th Feb and my valuation was carried out today. My MB said that KR won't look at the documents until they have the valuation so as you can imagine I am extremely anxious. The valuation has taken place today and so it's now a stressful waiting game.. Good luck to everyone on here. If anyone needs any advise on the conveyancing aspect of it, let me know as I do this for a living. 

cllola

Update - KR have requested a bank statement and payslip from my partner who will be the other occupier but not an application just to check he isn't dependent on me. sent those through today. 
Valuation was requested the day after application submitted, I only know because I had a call from Connells asking to gain access to the property, they had my number instead of the HA. 

I hope that is all promising!! I'm on pins waiting. 

cllola

ArfaanO said:

Hi all. Such a good thread! I wanted to give you all a bit of background into my journey so far (which is far from over). I found the perfect shared ownership property on sharetobuy and registered my interest back in December 2021. I got signed off by the housing association on the 14th January and began my search for a mortgage offer. I have some adverse credit with registered defaults in 2017 and the latest one in 2019. I also had to make an arrangement to pay on my car finance November 2021 which is now clear (arrears are cleared and account back up to date). I went with a broker who arranged a DIP with Together within 2 days, I paid the valuation fee and a day before the valuation was carried out my MB called and said Together have declined the application due to the underwrite not being happy with the adverse credit. I then approached Kensington and got declined due to the arrangement to pay on the car finance. At present, my MB made the full application to Kensginton on the 28th Feb and my valuation was carried out today. My MB said that KR won't look at the documents until they have the valuation so as you can imagine I am extremely anxious. The valuation has taken place today and so it's now a stressful waiting game.. Good luck to everyone on here. If anyone needs any advise on the conveyancing aspect of it, let me know as I do this for a living. 

That's quite a rollercoaster. Hopefully KR are fine with that. 
Re Conveyancing - does it tend to be a faster process with a new build do you know?