Kent reliance

csumm4

aleeek said:

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? 

Just over 2 weeks in total 👍

aleeek

rachlikeswinter said:

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!

I wonder if searches lead time depends on our location? Some people say 2 weeks and I'm looking at 10 weeks. 

aleeek

csumm4 said:

aleeek said:

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? 

Just over 2 weeks in total 👍

Also, are you buying SO? We were told that once we get out mortgage offer we'll need the housing association to approve it which can take another 5 working days. I agree with rach here, ask your landlord for an extension. 

csumm4

aleeek said:

csumm4 said:

aleeek said:

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? 

Just over 2 weeks in total 👍

Also, are you buying SO? We were told that once we get out mortgage offer we'll need the housing association to approve it which can take another 5 working days. I agree with rach here, ask your landlord for an extension. 

Yes it is SO.. I will ask my advisor all of this when we speak today 

happyday20

Good afternoon everyone, hopefully this helps,
16/10 - AIP submitted and approved
20/10 - Submitted full mortgage application 
27/10 - KR happy with documents waiting for MOS
29/10 - MOS submitted 
11/11 - Valuation booked in
Currently just waiting for the valuation, and hopefully be put into the mortgage offer queue. 

30/10 - Solicitors instructed 
5/11 - All solicitors searches have come back, documents have been signed and sent back to them
10/11 - Solicitors are waiting for Mortgage Offer to review and HA to approve Mortgage Offer.

Feels soooo long winded, but hopefully we’re near the finish line. I think KR are super busy at the moment, updates are taking a lot longer now.

Hope you’re all doing ok and hanging in there I will keep you all updated as my application progresses 😊

MSN2220

We had an update today. They asked for evidence of a store card being cleared and closed and also asked for the gift deposit form. 

Our timeline has been a long one! 

15th Sept Application sent with deceleration form  to Leeds 

16th Sept Soft Credit Check 

17th Sept Gift Deposit Form sent

23rd Sept Valuation Appt

24th Sept valuation report and docs with underwriters

08th Oct Leeds declined. Applied with Kent Relliance 

08th Oct. Kent hard search 

12th Oct. application docs to solicitor 

15th Oct. solicitor said they received contract from HA 

19th Oct. KR Asked for 3 months bank statements again and also DD mandate 

20th Oct. Sent requested docs. Searches submitted with solicitors 

21st Oct. Valuation booked for 3rd Nov 

28th Oct. signed contract to solicitors. KR asked a few questions about entries on statements and needed updated statements 

09th Nov. Enquires satisfied by solicitors. 

11th Nov. KR asked for evidence of OpenPay account closed and Gift deposit form. Sent info back on same day. 

aleeek

Has anyone had confirmation from KR that they're happy with the valuation? Just wondering if they do actually say that or if they don't say anything at all. We had ours done on 28/10 and haven't heard anything since other than them querying a few transactions. 

MSN2220

aleeek said:

Has anyone had confirmation from KR that they're happy with the valuation? Just wondering if they do actually say that or if they don't say anything at all. We had ours done on 28/10 and haven't heard anything since other than them querying a few transactions. 

We’ve been told the valuation report can take up to 10 working days for Connells to send to KR. 

aleeek

MSN2220 said:

aleeek said:

Has anyone had confirmation from KR that they're happy with the valuation? Just wondering if they do actually say that or if they don't say anything at all. We had ours done on 28/10 and haven't heard anything since other than them querying a few transactions. 

We’ve been told the valuation report can take up to 10 working days for Connells to send to KR. 

Hmm I got told 4 working days.. But again haven't heard anything. Its just a waiting game isn't it. 

aleeek

rachlikeswinter said:

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!

It looks like your valuation was returned and ok'd in 3 days?