Kent reliance

aleeek

rachlikeswinter said:

aleeek said:

rachlikeswinter said:

aleeek said:

rachlikeswinter said:

aleeek said:

Has anyone had Kent ask multiple queries about transactions? Like you explained once and they needed further clarification? 

I've not had any transaction queries at all. What kind of thing are they questioning?

My partner is self employed but he regularly contracts for this one company so he gets regular payments from them weekly and they just wanted to know what those credits on his statement were. 

Ah I see - thanks!

MSN2220 said:

There were quite a few people who were told they were getting an update today. Did anyone actually get one ? 😃

Just had an email from my broker - he says  "all the requirements that we’ve been asked to provide are showing as ‘satisfied’ as of 12 noon today and the valuation report is now received however we need to await the underwriter to review the case" (7 working days is the current expected delay.)

Ho hum.

Sounds like they're telling you what the portal tells them. What docs did you send in last? 

Yeah. I sent in an extra bank statement, Accountants projection of income certificate, and copies of my parents' passports (some of my deposit is gifted.) Those were submitted on the 19th Oct and haven't had any further requests since then. Everything 'satisfied' apparently.

Guess once an underwriter looks at everything that's when the questions start coming in!

It looks like each broker calls the stages different things.. Your docs have been with them a long time, surely they're underwritten by now. Maybe you're in the offer queue now? 

dannik

aleeek said:

rachlikeswinter said:

aleeek said:

rachlikeswinter said:

aleeek said:

rachlikeswinter said:

aleeek said:

Has anyone had Kent ask multiple queries about transactions? Like you explained once and they needed further clarification? 

I've not had any transaction queries at all. What kind of thing are they questioning?

My partner is self employed but he regularly contracts for this one company so he gets regular payments from them weekly and they just wanted to know what those credits on his statement were. 

Ah I see - thanks!

MSN2220 said:

There were quite a few people who were told they were getting an update today. Did anyone actually get one ? 😃

Just had an email from my broker - he says  "all the requirements that we’ve been asked to provide are showing as ‘satisfied’ as of 12 noon today and the valuation report is now received however we need to await the underwriter to review the case" (7 working days is the current expected delay.)

Ho hum.

Sounds like they're telling you what the portal tells them. What docs did you send in last? 

Yeah. I sent in an extra bank statement, Accountants projection of income certificate, and copies of my parents' passports (some of my deposit is gifted.) Those were submitted on the 19th Oct and haven't had any further requests since then. Everything 'satisfied' apparently.

Guess once an underwriter looks at everything that's when the questions start coming in!

It looks like each broker calls the stages different things.. Your docs have been with them a long time, surely they're underwritten by now. Maybe you're in the offer queue now? 

They’ve had ours since 21st Oct too and we’ve not been told what stage ours is at only that it was due to be reviewed by the end of business today and hoping to hear something tomorrow x

rachlikeswinter

aleeek said:

rachlikeswinter said:

aleeek said:

rachlikeswinter said:

aleeek said:

rachlikeswinter said:

aleeek said:

Has anyone had Kent ask multiple queries about transactions? Like you explained once and they needed further clarification? 

I've not had any transaction queries at all. What kind of thing are they questioning?

My partner is self employed but he regularly contracts for this one company so he gets regular payments from them weekly and they just wanted to know what those credits on his statement were. 

Ah I see - thanks!

MSN2220 said:

There were quite a few people who were told they were getting an update today. Did anyone actually get one ? 😃

Just had an email from my broker - he says  "all the requirements that we’ve been asked to provide are showing as ‘satisfied’ as of 12 noon today and the valuation report is now received however we need to await the underwriter to review the case" (7 working days is the current expected delay.)

Ho hum.

Sounds like they're telling you what the portal tells them. What docs did you send in last? 

Yeah. I sent in an extra bank statement, Accountants projection of income certificate, and copies of my parents' passports (some of my deposit is gifted.) Those were submitted on the 19th Oct and haven't had any further requests since then. Everything 'satisfied' apparently.

Guess once an underwriter looks at everything that's when the questions start coming in!

It looks like each broker calls the stages different things.. Your docs have been with them a long time, surely they're underwritten by now. Maybe you're in the offer queue now? 

Mmm. My broker said "I did ask why this was not reviewed along with the other items today and I’ve been told the document assessors don’t have the mandate to accept the valuation report." So it sounds like they have people that check the documents are present and correct, and then an underwriter actually looks at the full application together with everything. 

aleeek

rachlikeswinter said:

aleeek said:

rachlikeswinter said:

aleeek said:

rachlikeswinter said:

aleeek said:

rachlikeswinter said:

aleeek said:

Has anyone had Kent ask multiple queries about transactions? Like you explained once and they needed further clarification? 

I've not had any transaction queries at all. What kind of thing are they questioning?

My partner is self employed but he regularly contracts for this one company so he gets regular payments from them weekly and they just wanted to know what those credits on his statement were. 

Ah I see - thanks!

MSN2220 said:

There were quite a few people who were told they were getting an update today. Did anyone actually get one ? 😃

Just had an email from my broker - he says  "all the requirements that we’ve been asked to provide are showing as ‘satisfied’ as of 12 noon today and the valuation report is now received however we need to await the underwriter to review the case" (7 working days is the current expected delay.)

Ho hum.

Sounds like they're telling you what the portal tells them. What docs did you send in last? 

Yeah. I sent in an extra bank statement, Accountants projection of income certificate, and copies of my parents' passports (some of my deposit is gifted.) Those were submitted on the 19th Oct and haven't had any further requests since then. Everything 'satisfied' apparently.

Guess once an underwriter looks at everything that's when the questions start coming in!

It looks like each broker calls the stages different things.. Your docs have been with them a long time, surely they're underwritten by now. Maybe you're in the offer queue now? 

Mmm. My broker said "I did ask why this was not reviewed along with the other items today and I’ve been told the document assessors don’t have the mandate to accept the valuation report." So it sounds like they have people that check the documents are present and correct, and then an underwriter actually looks at the full application together with everything. 

Ah, so it sounds like it's 6 working days for them to look at our docs and then 6 working days for them to be underwritten. 

dannik

Morning guys and girls..let’s hope we get an update today! 🤞🏻 Keep us updated and good luck x

csumm4

Hi everyone.. really pleased to come across this thread as I couldn't find much information about the time scales for KR. We too are buying SO and initially got AIP and surveys etc with Leeds but Leeds under valued the property. Our advisor is also looking after an identical sale and said their valuation with KR has come in at the sale price so advised us to move to them. Currently waiting on AIP and then instructing survey. All solicitors searches etc all done due to our progress initially with Leeds. Little concerned though about the turn around time as we were advised to give notice on our rental at the start of November so we are out at the end of the month! Whole process initially started at the end of September but starting from scratch with the lender, should not have any issues with the valuation in theory. We both have good credit scores etc and no debt so really hoping it will only take a few weeks 🤞 our advisor said he is going to call KR this morning and chase the AIP 

aleeek

csumm4 said:

Hi everyone.. really pleased to come across this thread as I couldn't find much information about the time scales for KR. We too are buying SO and initially got AIP and surveys etc with Leeds but Leeds under valued the property. Our advisor is also looking after an identical sale and said their valuation with KR has come in at the sale price so advised us to move to them. Currently waiting on AIP and then instructing survey. All solicitors searches etc all done due to our progress initially with Leeds. Little concerned though about the turn around time as we were advised to give notice on our rental at the start of November so we are out at the end of the month! Whole process initially started at the end of September but starting from scratch with the lender, should not have any issues with the valuation in theory. We both have good credit scores etc and no debt so really hoping it will only take a few weeks 🤞 our advisor said he is going to call KR this morning and chase the AIP 

Hey, to ensure it all goes smoothly for you, on application make sure you submit all necessary documents, double double check, statements with rolling balances, payslips etc. Good luck to you. Just a PS. who advised you to give notice so soon? I've been advised to wait until exchange?? 

csumm4

aleeek said:

csumm4 said:

Hi everyone.. really pleased to come across this thread as I couldn't find much information about the time scales for KR. We too are buying SO and initially got AIP and surveys etc with Leeds but Leeds under valued the property. Our advisor is also looking after an identical sale and said their valuation with KR has come in at the sale price so advised us to move to them. Currently waiting on AIP and then instructing survey. All solicitors searches etc all done due to our progress initially with Leeds. Little concerned though about the turn around time as we were advised to give notice on our rental at the start of November so we are out at the end of the month! Whole process initially started at the end of September but starting from scratch with the lender, should not have any issues with the valuation in theory. We both have good credit scores etc and no debt so really hoping it will only take a few weeks 🤞 our advisor said he is going to call KR this morning and chase the AIP 

Hey, to ensure it all goes smoothly for you, on application make sure you submit all necessary documents, double double check, statements with rolling balances, payslips etc. Good luck to you. Just a PS. who advised you to give notice so soon? I've been advised to wait until exchange?? 

We asked the agent who marketed the property in October and they advised to give notice on our next rent payment which was November the 1st. Our advisor is also aware that this is the case. When he first advised us to move to KR last week he said we should be in by the end of the  month although after reading these threads I can see that is clearly not going to be the case at all. The agent had said the searches with the solicitor would be the most time consuming aspect and they are out of the way we went with their advice. Hopefully get some form of update today 🤞

aleeek

csumm4 said:

aleeek said:

csumm4 said:

Hi everyone.. really pleased to come across this thread as I couldn't find much information about the time scales for KR. We too are buying SO and initially got AIP and surveys etc with Leeds but Leeds under valued the property. Our advisor is also looking after an identical sale and said their valuation with KR has come in at the sale price so advised us to move to them. Currently waiting on AIP and then instructing survey. All solicitors searches etc all done due to our progress initially with Leeds. Little concerned though about the turn around time as we were advised to give notice on our rental at the start of November so we are out at the end of the month! Whole process initially started at the end of September but starting from scratch with the lender, should not have any issues with the valuation in theory. We both have good credit scores etc and no debt so really hoping it will only take a few weeks 🤞 our advisor said he is going to call KR this morning and chase the AIP 

Hey, to ensure it all goes smoothly for you, on application make sure you submit all necessary documents, double double check, statements with rolling balances, payslips etc. Good luck to you. Just a PS. who advised you to give notice so soon? I've been advised to wait until exchange?? 

We asked the agent who marketed the property in October and they advised to give notice on our next rent payment which was November the 1st. Our advisor is also aware that this is the case. When he first advised us to move to KR last week he said we should be in by the end of the  month although after reading these threads I can see that is clearly not going to be the case at all. The agent had said the searches with the solicitor would be the most time consuming aspect and they are out of the way we went with their advice. Hopefully get some form of update today 🤞

Do you know how long your searches took in total? 

rachlikeswinter

I second aleeek. Get every single document over to them at the outset, even if you think it's overkill. Very strange you were advised to give notice - I was advised not to until I have a completion date because so many things can go wrong, especially at the moment with lead times being so long. I don't want to worry you but I would speak to your landlord ASAP and get an extension. I would say it's very unlikely you'll be done by the end of this month. Even if you get your mortgage offer really quickly, the developer/solicitor can be slow. I'm buying SO, brand new, it's finished and sitting empty as we speak, and I'm not expecting to be in before Christmas if I'm honest.

Just to give you an outline, here is my timeline with KR so far:

DIP received 25.9

Full application made 8.10

MoS received/affordability passed with Developer 8.10

Instructed Solicitors 8.10

Searches Began 16.10

Further documents & Accountants email requested from KR - 19.10

New MoS submitted 21.10 (Developer messed first one up)

Accountant sent income projection certificate to KR, other docs confirmed as received - 30.10

Valuation booked for 6.11

Valuation Received & OK - went into underwriter queue 9.11

Not had searches back yet. So you are ahead of the game in that respect.

Good luck!