Kent reliance

annetheman

I'm not sure who it was that was having broker problems, but I currently have had the "dismissed" broker who made a failed Leeds application for me, working to resurrect it! No chance - just seen Kent Reliance did the hard search a week ago, it's too late now! If you have a good broker, treat them well!

I am on the very edge of Homes England affordability calculator for my share with Kent Reliance, buying the most I can at 44.87% affordability so I just can't risk losing probably the only lender option I have. 

Kent Reliance are clearly very S L O W but it'll be worth the wait. Hang in there! Who wants the chaos of moving over a COVID Christmas, anyway ?! Think serene thoughts, what will be will be...... and fingers crossed!

adzharr91

They asked us for more documents and questions about our bank statements, we was told 5 day turnaround for them to get back to us, this has now been extended a further 4 days today. Not even had our valuation booked in yet and they’ve had all of our docs for nearly 3 weeks

SR100

Hi everyone,
I have been reading this thread for ages and thought I would share how our application is going because I’m feeling very frustrated with all the waiting!

We put in our full application on 05/11 and we’ve been asked for several documents since. Our last request from the lender was that the last thing they needed was an accountant’s projection for my partner, which was sent on 04/12 and we were told that a 7-8 working day turnaround was currently in place to check documents. We are still waiting to hear whether they have checked this yet. Our valuation was booked for yesterday but we have been told that the report takes 24 hours to get back to KR and then a further 7 working days to review it.

I am so fed up of waiting and was naively thinking we could potentially get an offer in time for Christmas if everything was alright with the valuation and our documents, but this now seems impossible. So frustrating knowing things are shut over Christmas and everything will take so much longer. I feel like I can’t relax waiting to hear back from them.

I know people say buying a house is stressful but this is way worse than I thought!!

Wishing everyone luck with their applications xx

annetheman

It's very stressful @SR100 but I think the best thing about Kent Reliance, which I found out from this thread (so thanks, OP), is that the success rate with them is very high.

I believe this is down to their manual underwriting, which as the name implies, is much slower than automated workstreams, so they are slow.

If you know that, all things being well with the valuation and the application being sent by your broker with honest info, you are almost certainly guaranteed success - I think it's worth a few extra weeks than you'd have with a high street lender.

It is massively stressful, though. I keep feeling like the seller is going to turn around and cancel the whole thing... Think I'm too much trouble and in such a popular block, they can sell it quickly to someone else... Sigh. I just don't think it'll happen but shutting it out of my mind now, might leave the forums for a few weeks!

Happy Christmas, all!

csumm4

@rachlikeswinter our MA said on Thursday last week he escalated it to BDM due to things not moving along at all, he says todays his 'contact' has assured him our offer will be with us on Friday but we have zero hope. Does anyone know after offer how long it takes to exchange? Would ideally have liked this done before Xmas. Really hope everyone gets positive news soon, stress is killing me 

Rachielovescats

I’m definitely encouraged by the good success rates... Also... I keep thinking that they’d have said no to me by now if they were going to. I think it’s just a waiting game everyone. A loooooooonnnng waiting game!! 

Mortgage advisor still chasing correct memorandum of sale. Hopefully It’ll come today; and hopefully that’s the last piece of the puzzle! 

rachlikeswinter

csumm4 said:

@rachlikeswinter our MA said on Thursday last week he escalated it to BDM due to things not moving along at all, he says todays his 'contact' has assured him our offer will be with us on Friday but we have zero hope. Does anyone know after offer how long it takes to exchange? Would ideally have liked this done before Xmas. Really hope everyone gets positive news soon, stress is killing me 

I think length of time to exchange completely depends on how ready your solicitors are. If everything is done and they're just waiting for the offer, I think it could be less than a week. But my solicitors close for Christmas tomorrow, and I know they're a long way from being done! Also the HA (if you're buying SO) has to approve the mortgage offer once they receive it from their solicitors so; that's another added step.

Nic88Nac

@csumm4 I'm not sure how long it takes from offer letter, my solicitor hasn't had the offer through to them though. So I'm guessing we won't exchange before Christmas hoping to move in the first couple of weeks of Jan. 

@sr100 We put our offer in 18 wks ago so I feel your pain about waiting! We put our application in on 18th November and got our offer on 15th Dec so just under 4 weeks. So hold on you will get one, if you haven't had any negative news I'm sure its pretty much set! Its just time 

csumm4

@Nic88Nac my MA said he already knew the offers got sent out 2nd class to solicitors but they can have it sent direct via email which we have already requested so it might be worth your MA asking them to do or I think your solicitors also might be able to request this too. 

adzharr91

we’ve had our valuation completed, I didnt even know they had booked us in for it and now they are asking for an S/O which i dont even know what that is 😂