Kent reliance

Nic88Nac

lejones91 said:

My deposit has already been transferred and received also so it doesn't make much sense at all

Thats really annoying, we will probably get that too then!

annetheman

Wow, thanks @lejones91 for the heads up - not yet applied with Kent Reliance but broker is looking to...

I had heard about this, it's been around a few years but when I applied with Leeds, I wasn't asked for it - they eventually cancelled the application due to inactivity so not sure if they would've asked for it too in the completion statement from solicitors...

I wonder if the solicitors are applying it only to specific deposit gifters e.g. if they are not homeowners or some other reason? Or have you been given feedback from solicitor that this is an across-the-board request due to changed criteria recently? My understanding is that only some solicitors' firms insist on it, not the lender themselves - "Banks say they only have solicitors ask buyers for this cover in certain situations - for example, if a parent who owns a property sells it to their child at a substantial discount.But fears are growing that some law firms are using this to wring even more cash out of buyers."

Could be worth asking your broker or you yourself going directly to Kent Reliance to find the answers to above before sending the money. If Kent Reliance have not insisted on it, maybe worth challenging the solicitor about it, especially if they didn't put it in the initial quote they gave you!

Nic88Nac

So I have heard from my MA and has asked for the gift declaration form to be sent back - how long after this did people get offers? Everything else is satisfied from KR 

MSN2220

@lejones91. Yes we also have to pay for the deposit indemnity insurance! It’s a condition of Kent’s. Very annoying. 

Also when did you exchange? We still haven’t even signed the mortgage deed!! 

Benaud87

Hi everyone - have been reading this forum almost daily as my partner and I have an application with KR.  Must say, it's provided me much comfort throughout the process.  We turned to KR after issues with my credit score and being rejected by other lenders.
On Friday we received the good news of an offer!  The whole of last week seemed to stop in time and I was also refreshing my emails on a minute by minute basis.
Our timeline was as follows:
23rd October- DIP w/ KR
29th October - Full application submitted
4th November - Valuation booked
10th November - further documents requested by KR
23rd November - Valuation 
24th November - valuation report received and approved by KR
24th November - further documents requested by KR (and submitted back on the same day)
4th December - offer received

So 6 weeks in total (to the day!).  Our MA has been superb and chased and been in contact with KR almost every day.  We took the plunge of getting our survey and searches done, which was a risk but we felt worth taking to speed up the process.  So we are now just waiting for KR to send docs to our solicitors before hopefully exchanging in the coming days.
They saying buying a house is the most stressful experience in your life - and they are not wrong there!  It's the waiting and not knowing that is the worst bit.  But hang in there - the feeling when that offer letter comes through makes it all worthwhile.  Thanks as well to you all for sharing your experiences - as I say, it provided me with much comfort and importantly, lots of good info.

lejones91

MSN2220 said:

@lejones91. Yes we also have to pay for the deposit indemnity insurance! It’s a condition of Kent’s. Very annoying. 

Also when did you exchange? We still haven’t even signed the mortgage deed!! 

Haven't exchanged just yet, we are due to exchange on Friday. Only signed the mortgage deed and sent over today

adzharr91

I got an update, they want to know what my paypal GI ltd payments are (this is gambling) shall I be honest

Nic88Nac

adzharr91 said:

I got an update, they want to know what my paypal GI ltd payments are (this is gambling) shall I be honest

adzharr91 said:

I got an update, they want to know what my paypal GI ltd payments are (this is gambling) shall I be honest

I would suggest you have to be, I think it will go against you if your not honest

adzharr91

i decided to tell them the truth, i hope this doesnt make the application decline due to this

Maaxx

Hi guys, we just had an update from our HA regarding local authority searches. Unfortunately due to a cyberattack they are unsure of a definite timescale of when search reports will be available again. They suggested search delay insurance as this can help us to exchange and complete without the searches but as far as I am aware, KR do not accept this insurance. I just researched this online and KR accept personal searches? Does anyone know anything about this and is this possible to obtain?