Valuation Instructed

Madders99

Hi all
New to this so apologies if this topic has been covered. 

3 weeks ago We submitted a full application. A hard credit check was carried out the day after. A couple of days later we had a few queries regarding proof of deposit and 3 months payments in the bank. We have since satisfied all the queries. 

Our broker has confirmed the valuation will be on Monday. Does this mean most of the underwriting will have been done and if so what happens assuming valuation is ok?

A new finance on a car has gone on my credit report this month which I’m guessing they will see? The broker has assured me in terms of affordability, we could have financed 4 cars at that price and still be within affordability. 

Will they see this new finance as a problem and should we still worry about an offer?!

Thrugelmir

You've got to trust your mortgage broker they are the ones with the full facts.  Though taking additional credit after the mortgage application is made is generally unadvisable. 

Madders99

Thank you! I hadn’t intended to take any finance out during the house hunting stage, however, we though we were a few months away from looking to move. It was a present for my wife’s 30th birthday!
However, an opportunity came up which we couldn’t refuse and offered straight away. By this time the car had already been purchased. 

By the time the initial searches had been completed, the finance wasn’t showing. It’s now gone to valuation but 3/4 weeks on and it now shows on my credit report. It doesn’t show any soft/hard searches from Black Horse for the car, just a new finance figure. 

Hope we will be ok!!! 🤞🏼