Kent reliance

adzharr91

adzharr91 said: it

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 😂

I mean O/S 

SR100

adzharr91 said:

adzharr91 said: it

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 😂

I mean O/S 

I have no idea what that means either 😂 would be helpful if they were clearer! Can I ask, do you know when your valuation was completed? I am waiting to hear back about mine and just trying to get an idea of the timescale, thanks 😊 

adzharr91

SR100 said:

adzharr91 said:

adzharr91 said: it

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 😂

I mean O/S 

I have no idea what that means either 😂 would be helpful if they were clearer! Can I ask, do you know when your valuation was completed? I am waiting to hear back about mine and just trying to get an idea of the timescale, thanks 😊 

They wanted to make sure nobody else was living with us wierdly! Our full submission went over to them on the 30th november, which is when we paid for it, they requested further docs on the 8th December and then the valuation was sent back to them today, but i honestly have no idea when they asked for it to be done or booked in

Rachielovescats

adzharr91 said:

adzharr91 said: it

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 😂

I mean O/S 

Is it maybe an ordinance survey report on the land? 

annetheman

Well this is horrible.
I had a call from my old broker about affordability at Kent's rates and it has scared the living daylights out of me. My new broker had checked and I just fit on my new pay but now I'm really paranoid the HA will reject me... This stress is not good. Not good at all. Anyway:

7th Dec - AiP submitted
8th Dec - AiP accepted
11th Dec - Full application submitted

17th Dec - Assessment queue - 8 day wait to assess
17th Dec - Valuation instructed - 5 day wait to receive a date

TBC...

aleeek

annetheman said:

Well this is horrible.
I had a call from my old broker about affordability at Kent's rates and it has scared the living daylights out of me. My new broker had checked and I just fit on my new pay but now I'm really paranoid the HA will reject me... This stress is not good. Not good at all. Anyway:

7th Dec - AiP submitted
8th Dec - AiP accepted
11th Dec - Full application submitted

17th Dec - Assessment queue - 8 day wait to assess
17th Dec - Valuation instructed - 5 day wait to receive a date

TBC...

Didn't the HA do an affordability assessment using the AIP from Kent before you applied for the mortgage? If they did and your AIP is on the same rate as the mortgage you applied for then its unlikely they will reject you once you get a mortgage offer. 

annetheman

aleeek said:

annetheman said:

Well this is horrible.
I had a call from my old broker about affordability at Kent's rates and it has scared the living daylights out of me. My new broker had checked and I just fit on my new pay but now I'm really paranoid the HA will reject me... This stress is not good. Not good at all. Anyway:

7th Dec - AiP submitted
8th Dec - AiP accepted
11th Dec - Full application submitted

17th Dec - Assessment queue - 8 day wait to assess
17th Dec - Valuation instructed - 5 day wait to receive a date

TBC...

Didn't the HA do an affordability assessment using the AIP from Kent before you applied for the mortgage? If they did and your AIP is on the same rate as the mortgage you applied for then its unlikely they will reject you once you get a mortgage offer. 

They did the initial assessment with AiP from Leeds which was 2.4% pre-pandemic (I've been at this since beginning of March!!!), I initially was purchasing a higher percentage than I am now. 

The Memorandum of Sale has been amended by the HA to a lower %age purchase and my new affordability calculation using the HA/Homes England calculator with Kent Reliance at the higher 4.54% rate looks like this:


Literally *just* affordable..... No room for any more movement here! Very tense moment of panic though. This affordability is with my contractual 10% annual bonus (paid end of financial year in April), though I've been with the company 1 year in Jan so first payment of the bonus is in April 2021, it was pro-rata'd in 2020!

I also didn't know that you actually have to purchase the highest percentage you can afford - so weirdly, this has worked out okay? So scary!

If Kent fails for whatever reason, and I can't get anything lower than 4.54%, the HA could very well say I'm no longer eligible.

aleeek

annetheman said:

aleeek said:

annetheman said:

Well this is horrible.
I had a call from my old broker about affordability at Kent's rates and it has scared the living daylights out of me. My new broker had checked and I just fit on my new pay but now I'm really paranoid the HA will reject me... This stress is not good. Not good at all. Anyway:

7th Dec - AiP submitted
8th Dec - AiP accepted
11th Dec - Full application submitted

17th Dec - Assessment queue - 8 day wait to assess
17th Dec - Valuation instructed - 5 day wait to receive a date

TBC...

Didn't the HA do an affordability assessment using the AIP from Kent before you applied for the mortgage? If they did and your AIP is on the same rate as the mortgage you applied for then its unlikely they will reject you once you get a mortgage offer. 

They did the initial assessment with AiP from Leeds which was 2.4% pre-pandemic (I've been at this since beginning of March!!!), I initially was purchasing a higher percentage than I am now. 

The Memorandum of Sale has been amended by the HA to a lower %age purchase and my new affordability calculation using the HA/Homes England calculator with Kent Reliance at the higher 4.54% rate looks like this:


Literally *just* affordable..... No room for any more movement here! Very tense moment of panic though. This affordability is with my contractual 10% annual bonus (paid end of financial year in April), though I've been with the company 1 year in Jan so first payment of the bonus is in April 2021, it was pro-rata'd in 2020!

I also didn't know that you actually have to purchase the highest percentage you can afford - so weirdly, this has worked out okay? So scary!

If Kent fails for whatever reason, and I can't get anything lower than 4.54%, the HA could very well say I'm no longer eligible.

Our affordability was just about there too. We got an AIP from Kent but the rate went up before we applied and the housing association was still fine with it, they approved our mortgage offer now. Don't worry too much! 

annetheman

aleeek said:

annetheman said:

aleeek said:

annetheman said:

Well this is horrible.
I had a call from my old broker about affordability at Kent's rates and it has scared the living daylights out of me. My new broker had checked and I just fit on my new pay but now I'm really paranoid the HA will reject me... This stress is not good. Not good at all. Anyway:

7th Dec - AiP submitted
8th Dec - AiP accepted
11th Dec - Full application submitted

17th Dec - Assessment queue - 8 day wait to assess
17th Dec - Valuation instructed - 5 day wait to receive a date

TBC...

Didn't the HA do an affordability assessment using the AIP from Kent before you applied for the mortgage? If they did and your AIP is on the same rate as the mortgage you applied for then its unlikely they will reject you once you get a mortgage offer. 

They did the initial assessment with AiP from Leeds which was 2.4% pre-pandemic (I've been at this since beginning of March!!!), I initially was purchasing a higher percentage than I am now. 

The Memorandum of Sale has been amended by the HA to a lower %age purchase and my new affordability calculation using the HA/Homes England calculator with Kent Reliance at the higher 4.54% rate looks like this:


Literally *just* affordable..... No room for any more movement here! Very tense moment of panic though. This affordability is with my contractual 10% annual bonus (paid end of financial year in April), though I've been with the company 1 year in Jan so first payment of the bonus is in April 2021, it was pro-rata'd in 2020!

I also didn't know that you actually have to purchase the highest percentage you can afford - so weirdly, this has worked out okay? So scary!

If Kent fails for whatever reason, and I can't get anything lower than 4.54%, the HA could very well say I'm no longer eligible.

Our affordability was just about there too. We got an AIP from Kent but the rate went up before we applied and the housing association was still fine with it, they approved our mortgage offer now. Don't worry too much! 

That is absolutely amazing news, congrats! 

Thank you so much for the reassurance, it really means a lot... This is hella stressful lol! Hope you have a smooth sail over to your new home soon

-Anne

aleeek

annetheman said:

aleeek said:

annetheman said:

aleeek said:

annetheman said:

Well this is horrible.
I had a call from my old broker about affordability at Kent's rates and it has scared the living daylights out of me. My new broker had checked and I just fit on my new pay but now I'm really paranoid the HA will reject me... This stress is not good. Not good at all. Anyway:

7th Dec - AiP submitted
8th Dec - AiP accepted
11th Dec - Full application submitted

17th Dec - Assessment queue - 8 day wait to assess
17th Dec - Valuation instructed - 5 day wait to receive a date

TBC...

Didn't the HA do an affordability assessment using the AIP from Kent before you applied for the mortgage? If they did and your AIP is on the same rate as the mortgage you applied for then its unlikely they will reject you once you get a mortgage offer. 

They did the initial assessment with AiP from Leeds which was 2.4% pre-pandemic (I've been at this since beginning of March!!!), I initially was purchasing a higher percentage than I am now. 

The Memorandum of Sale has been amended by the HA to a lower %age purchase and my new affordability calculation using the HA/Homes England calculator with Kent Reliance at the higher 4.54% rate looks like this:


Literally *just* affordable..... No room for any more movement here! Very tense moment of panic though. This affordability is with my contractual 10% annual bonus (paid end of financial year in April), though I've been with the company 1 year in Jan so first payment of the bonus is in April 2021, it was pro-rata'd in 2020!

I also didn't know that you actually have to purchase the highest percentage you can afford - so weirdly, this has worked out okay? So scary!

If Kent fails for whatever reason, and I can't get anything lower than 4.54%, the HA could very well say I'm no longer eligible.

Our affordability was just about there too. We got an AIP from Kent but the rate went up before we applied and the housing association was still fine with it, they approved our mortgage offer now. Don't worry too much! 

That is absolutely amazing news, congrats! 

Thank you so much for the reassurance, it really means a lot... This is hella stressful lol! Hope you have a smooth sail over to your new home soon

-Anne

All the best to you too! Your offer will be with you soon