Any Recent Leeds Building Society applicants?

becky8690

Natztastic2 said:

MSN2220 said:

sofsar said:

MSN2220 said:

Just to update you guys. Leeds declined, the reason was the state of bank statements 🤯 which I don’t understand - they are being very picky! . They did offer a Lower amount however we are probably going with a different lender now. 😩

What was wrong with bank statements I.e you didn’t provide all of them to show deposit etc

also after how many weeks have they took altogether 
thanks, may help someone 

Spending habits on my bank statements went against FCA. 

What does that actually mean though 🤯

This is just panicking me now. We jumped into buying a house pretty quick so weren't careful about spending over the last 3 months. Luckily we haven't gone into our overdraft at all!

Natztastic2

becky8690 said:

Natztastic2 said:

MSN2220 said:

sofsar said:

MSN2220 said:

Just to update you guys. Leeds declined, the reason was the state of bank statements 🤯 which I don’t understand - they are being very picky! . They did offer a Lower amount however we are probably going with a different lender now. 😩

What was wrong with bank statements I.e you didn’t provide all of them to show deposit etc

also after how many weeks have they took altogether 
thanks, may help someone 

Spending habits on my bank statements went against FCA. 

What does that actually mean though 🤯

This is just panicking me now. We jumped into buying a house pretty quick so weren't careful about spending over the last 3 months. Luckily we haven't gone into our overdraft at all!

Yeah I know what you mean, especially as Leeds are known for being extremely picky.

Do you have a gifted deposit?

sofsar

becky8690 said:

Natztastic2 said:

MSN2220 said:

sofsar said:

MSN2220 said:

Just to update you guys. Leeds declined, the reason was the state of bank statements 🤯 which I don’t understand - they are being very picky! . They did offer a Lower amount however we are probably going with a different lender now. 😩

What was wrong with bank statements I.e you didn’t provide all of them to show deposit etc

also after how many weeks have they took altogether 
thanks, may help someone 

Spending habits on my bank statements went against FCA. 

What does that actually mean though 🤯

This is just panicking me now. We jumped into buying a house pretty quick so weren't careful about spending over the last 3 months. Luckily we haven't gone into our overdraft at all!

They have asked for additional info on yours so you seem fine. It’s already been checked with underwriting team but they wanted more info otherwise they would have declined it in 5th. Keep positive 

toby993_2

good point. You would also like to think that a broker would steer you clear of companies where you may be at risk of being declined

sofsar

toby993_2 said:

good point. You would also like to think that a broker would steer you clear of companies where you may be at risk of being declined

Brokers just money I think. Don’t mean all tho 

Natztastic2

toby993_2 said:

good point. You would also like to think that a broker would steer you clear of companies where you may be at risk of being declined

Thing is I guess they aren't supposed to know if they will decline people or not? Don't they go by the AIP and match you with basic lender criteria?

Natztastic2

Going to post this as I check it every day 🤣 it still doesn't mirror my timeline 🤣

Offer Turnaround STD: 28.4 working days

For us that was 29th Sep lol

toby993_2

lets hope we can all look back on this in a month and wonder why we was all stressing so much lol.

MSN did you get an initial check letter or initial review or did it go from application straight to senior underwriters?

sofsar

MSN your broker should have know this. Iv found it online


Cases where the LTV does not exceed 80% a only 1 years full accounts are available, due to the length of trading, may be considered. The average of the 1 years net profit figure and up to 100% of a satisfactory projection may be acceptable, providing the accounts reflect an improving position.

The income multiplier will be applied to the average of the last 3 years net profit figure.
The maximum amount of other allowable income must not exceed 100% of the household primary income.

Hire Purchase Taken into account
Personal Loans Taken into account
Overdraft NOT Taken into account
Credit/Store Cards Annualised payments deducted from salary
Child Maintenance Taken into account
Child Education NOT Taken into account

stampystamp

toby993_2 said:

stampystamp said:

toby993_2 said:

just out of curiosity for the guys who have had theirs accepted. How many times did they request further info from you?

Twice. Hope this helps  

Did they ask you for documents that they could have just asked you for the first time? Im not going to be happy if they ask for things that could have been asked for 2 weeks ago haha. I have also read on some other forums that kicking up a fuss with them can help speed things up

Yep. Once wasn’t even a document it was just confirmation that we were back full time from furlough which we had already confirmed twice.