Any Recent Leeds Building Society applicants?

MSN2220

sofsar said:

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

Thanks. Where did you find this ? 

sofsar

http://www.mortgages-direct-uk.com/leeds.htm

All info is here 

MSN2220

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?

My MA rang for an update yesterday. They said that my application had gone to senior underwriters. He rang again today after receiving an email saying my application wasn’t declined. When he rang them they said the email was a mistake and that they had declined me. So not letters were received. 

becky8690

Natztastic2 said:

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?

Yeah we have a 15% gifted deposit

becky8690

sofsar said:

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 

Yeah and I recieved the letter today dated 2nd saying "I confirm that the society has carried out an initial assessment of your application and we are currently liaising with your MA to advise on any outstanding requirements in order that a mortgage offer can be produced as soon as possible"

Natztastic2

becky8690 said:

Natztastic2 said:

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?

Yeah we have a 15% gifted deposit

Ah ok. I was gonna say no need to be nervous because surely if you had been saving each month for a deposit they would see that and it would be classed as a good thing.

Least you have the letter now which is good news 😌 Sounds like your application is going fast

becky8690

Natztastic2 said:

becky8690 said:

Natztastic2 said:

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?

Yeah we have a 15% gifted deposit

Ah ok. I was gonna say no need to be nervous because surely if you had been saving each month for a deposit they would see that and it would be classed as a good thing.

Least you have the letter now which is good news 😌 Sounds like your application is going fast

We've been saving each month anyway but my husbands parents want to gift us the full deposit and then we're using what we've saved to do the house up as it needs alot doing to it

Natztastic2

becky8690 said:

Natztastic2 said:

becky8690 said:

Natztastic2 said:

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?

Yeah we have a 15% gifted deposit

Ah ok. I was gonna say no need to be nervous because surely if you had been saving each month for a deposit they would see that and it would be classed as a good thing.

Least you have the letter now which is good news 😌 Sounds like your application is going fast

We've been saving each month anyway but my husbands parents want to gift us the full deposit and then we're using what we've saved to do the house up as it needs alot doing to it

Oh thats good then 😙 You'll be fine 🙂 

tweet86

Natztastic2 said:

tweet86 said:

stampystamp said:

Hi Guys,
just a little message of encouragement.. I know it seems horrible, our wait was 7 weeks but when you get your offer and eventually you get the keys to your house.. you will forget the wait! Three weeks on from receiving our offer, we completed yesterday! just keep your eye on the goal, it is worth it 😊

Completely true. My wait wasn’t as long as yours, we got to 24 working days in the end but exchanged and completed just over a week later. It was worth it in the end. 

Wow a week later? That's good going! 👍

Well, about 10days later. It all happened so quickly once our offer came in. I think the chain were waiting for the offer before they could suggest a date. Worth it now, we love our house 

tweet86

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

We were asked for the same documents that had already been provided and when they confirmed that we’d already given the information our case was dealt with by a manager. I did make a bit of fuss to be honest. I wasn’t rude but I wasn’t happy about the decision so I complained.