Any Recent Leeds Building Society applicants?

Maaxx

brownwise said:

We had our valuation Wednesday, and received the offer in the post on Saturday! Whole thing took about a month. We applied directly and they requested more info once.

We had ours Wednesday too but haven’t received any letters yet! Maybe depends on location could be a delay.

BettyVob

Application went in via our broker on Friday. We're buying a new build Shared Ownership so I'm not sure what needs to happen in terms of a valuation. Hoping for a fairly quick turnaround as we have to exchange within 28 days (less than that now!).

brownwise

Maaxx said:

brownwise said:

We had our valuation Wednesday, and received the offer in the post on Saturday! Whole thing took about a month. We applied directly and they requested more info once.

We had ours Wednesday too but haven’t received any letters yet! Maybe depends on location could be a delay.

Yeah they literally sent it on the Friday, just lucky the postie got it here next day

BettyVob

Valuation is happening today. Been told by my broker they are taking abut 6 days to review documents so to expect an update on 17/2.

Maaxx

Just got an update that our valuation report has been received on Monday 8th and will take 8 days to assess - fingers crossed by next week we can progress!! 

ashok.198311

Maaxx said:

Just got an update that our valuation report has been received on Monday 8th and will take 8 days to assess - fingers crossed by next week we can progress!! 

When did you apply for the mortgage?

Maaxx

ashok.198311 said:

Maaxx said:

Just got an update that our valuation report has been received on Monday 8th and will take 8 days to assess - fingers crossed by next week we can progress!! 

When did you apply for the mortgage?

7th Jan. Taking a little over a month

L_T_88

BettyVob said:

Application went in via our broker on Friday. We're buying a new build Shared Ownership so I'm not sure what needs to happen in terms of a valuation. Hoping for a fairly quick turnaround as we have to exchange within 28 days (less than that now!).

I'm in the same situation. I would imagine (and hope) that the housing association/registered provider are understanding of the delays and increased workloads everyone in the industry has at the moment (conveyencers, mortgage advisers, lenders, valuers, and local authorities - for searches) so the 28 days for exchange won't be stringently enforced. 

L_T_88

Following valuation, does it go back to underwriting for a final decision? Have been told valuation (assume desktop) was fine, but next part of process will take 7-8 days for an update, was initially told 2-3 days but see Leeds' service levels have increased.

Maaxx

L_T_88 said:

Following valuation, does it go back to underwriting for a final decision? Have been told valuation (assume desktop) was fine, but next part of process will take 7-8 days for an update, was initially told 2-3 days but see Leeds' service levels have increased.

From my understanding, yes after Leeds receive your valuation report back i assume they review it for 7-8 days for a final decision before they give you your offer. Our report was received on Monday 8th so assume we should hear back by 17th/18th Feb soon. Fingers crossed!!