Saffron BS Mortgage

kennedy1989

Nope we have still beard nothing but we already signed the declaration  and direct debit on application, as well as provided all our ID and bank statements. They had me on their system as a Mrs instead of Miss so my broker rang them as she sent the application  to get it changed and that's when they requested all those bits. So don't think we are any further ahead, they just asked for them whole she was on the phone. 

So seems like we are all at the same stage. Did they ask you about childcare costs at all? 

I just wanna know if it’s likely for us so we can then try other avenues. Have you got other lenders you will try if Saffron declines? 

Nervouslywaiting

kennedy1989 said:

Nope we have still beard nothing but we already signed the declaration  and direct debit on application, as well as provided all our ID and bank statements. They had me on their system as a Mrs instead of Miss so my broker rang them as she sent the application  to get it changed and that's when they requested all those bits. So don't think we are any further ahead, they just asked for them whole she was on the phone. 

So seems like we are all at the same stage. Did they ask you about childcare costs at all? 

I just wanna know if it’s likely for us so we can then try other avenues. Have you got other lenders you will try if Saffron declines? 

Again something our broker just addressed in the application because she said it would definitely be asked (as I am currently on maternity) so she put in an explanation about how we will cover the childcare when I return to work. 
Yes our broker says we have other options. For us, the worry is more about affordability calculations than our credit history. We don't have bad credit but we do have what I would class as a high level of debt currently, which brings my experian score right down even though its all paid on time every month. We are paying big chunks off with the equity in our home on completion though so we are hoping this will help. 

kennedy1989

Nervouslywaiting said:

kennedy1989 said:

Nope we have still beard nothing but we already signed the declaration  and direct debit on application, as well as provided all our ID and bank statements. They had me on their system as a Mrs instead of Miss so my broker rang them as she sent the application  to get it changed and that's when they requested all those bits. So don't think we are any further ahead, they just asked for them whole she was on the phone. 

So seems like we are all at the same stage. Did they ask you about childcare costs at all? 

I just wanna know if it’s likely for us so we can then try other avenues. Have you got other lenders you will try if Saffron declines? 

Again something our broker just addressed in the application because she said it would definitely be asked (as I am currently on maternity) so she put in an explanation about how we will cover the childcare when I return to work. 
Yes our broker says we have other options. For us, the worry is more about affordability calculations than our credit history. We don't have bad credit but we do have what I would class as a high level of debt currently, which brings my experian score right down even though its all paid on time every month. We are paying big chunks off with the equity in our home on completion though so we are hoping this will help. 

Well that’s good, where did your broker say your options were? Ours was actually to try high street like Barclays as now they are apparently more flexible with self employed. Maybe should have tried them first but owell. Yea I’m on maternity too 😀 
I’m getting more nervous as the days go on. We should hear around the same time as both sent last Friday. All I want to see in my inbox is ... offer pending value 🤞🏾🤞🏾🤞🏾 But def thinking they will want some questions answered re the grant in Dec, but I know my MA told them about it so hoping they don’t ask too much. 

Nervouslywaiting

She didn't say she just said she was looking at 4 possible lenders that she thinks we would have a good chance with, but this was the lowest interest rate she was considering so can't see them being high street lenders. I don't know why I'm being so negative but I honestly can't see us being accepted 🙈 I'm dreading seeing an email or getting a call from our broker 😫🙈

kennedy1989

Stay positive  I know it’s hard though isn’t it. Keep me updated with any news! Fingers crossed for us all! 

Nervouslywaiting

Just to update you kennedy1989, we had an update this morning that our application is now with the underwriters and if they are happy, they will instruct the valuation. The underwriters are currently taking up to 7 working days apparently. This is the bit I'm worried about 🙈

kennedy1989

Nervouslywaiting said:

Just to update you kennedy1989, we had an update this morning that our application is now with the underwriters and if they are happy, they will instruct the valuation. The underwriters are currently taking up to 7 working days apparently. This is the bit I'm worried about 🙈

Exciting!!! So this means you’ve passed the initial processing team I guess. I wonder where we are and if we’ve passed that 😏 guess we might get an update from MA on Monday. Fingers crossed still! 

rf123

Does it go through a separate team then before underwriters? The waiting game is awful!!

kennedy1989

I’m not entirely sure, after we have back the extra docs my MA said we had passed the initial checks, but not sure if that means we are also with the underwriters. Yours must be further ahead with underwriters though so your MA maybe just hasn’t been told it’s with them. I’m sure you will probably just get an update saying about a valuation soon hopefully! 

rf123

Yes we got told initially when we applied for DIP, we had to supply additional documentation, following that it then got passed on to allow us to submit a full application. So must be a separate team that initially reviews it