Vida Homeloans

Louise_G_1983

Just wondered how you were getting on? 
So I thought we'd be getting our offer any day but a Senior Underwriter has now asked further questions. My broker is really surprised by this as its stuff they've already asked. Our case has now been escalated as its taking so long. Just hope this isn't a bad sign as really thought it was sorted last week. 

Walesgirl

Louise_G_1983 said:

Just wondered how you were getting on? 
So I thought we'd be getting our offer any day but a Senior Underwriter has now asked further questions. My broker is really surprised by this as its stuff they've already asked. Our case has now been escalated as its taking so long. Just hope this isn't a bad sign as really thought it was sorted last week. 

We are still waiting too. My broker expected an offer last week but we haven't heard anything. When did you put your application in? 

Louise_G_1983

Our application went in mid April. They did a 2nd hard credit search on 14th May but still no official offer. They asked loads of questions, such as explaining reasons for bad credit which we were expecting and have explained but then same the questions keep coming back which is frustrating. Ours is a tricky case as we are also redeeming a help to buy loan as part of our house sale. Last week they wanted evidence of April and Mays payments to this as our annual statement was up to March. I'm hoping next week it can be offered. I do keep thinking it's going to get declined but I guess whilst they are asking questions it's a good sign. I'm sure they wouldn't be spending time on it unless it was a goer but its so stressful waiting. 
Hope you hear something soon. If you don't mind me asking, are you a 'bad credit' case too? 

Walesgirl

Louise_G_1983 said:

Our application went in mid April. They did a 2nd hard credit search on 14th May but still no official offer. They asked loads of questions, such as explaining reasons for bad credit which we were expecting and have explained but then same the questions keep coming back which is frustrating. Ours is a tricky case as we are also redeeming a help to buy loan as part of our house sale. Last week they wanted evidence of April and Mays payments to this as our annual statement was up to March. I'm hoping next week it can be offered. I do keep thinking it's going to get declined but I guess whilst they are asking questions it's a good sign. I'm sure they wouldn't be spending time on it unless it was a goer but its so stressful waiting. 
Hope you hear something soon. If you don't mind me asking, are you a 'bad credit' case too? 

Oh wow that's a long time. We are about 2 weeks behind you. My husband has a CCJ from Vodafone from Jan 2019. He cancelled and didn't realise they hadn't before it was too late and he had a CCJ.  He had several defaults from 2015/2016. 
We've been asked if we've been furlough and about my husband's credit card but that's all so far. It's been nearly 4 weeks. Our broker keeps saying we will have answer the next day but still nothing... I've given up chasing for now as expecting it to take a while

Louise_G_1983

Their SLA is 48 hours each time they ask a question. We have a note on our file to say it's being reviewed again tomorrow so hoping to know one way or another tomorrow. However, this will be over 48 hours. 

Louise_G_1983

We've had confirmation that our mortgage has been approved now. So relieved! Have you heard anything yet? 

HelenM05

Hi. Our application went in 2 weeks ago today, so far Vida have come back requesting further info and asking for evidence that out DMP has been well conducted. I wouldn't mind but this was sent to the broker in advance of the application so it does seem go round in circles. Also it takes 48 hours for them to look at anything! Hoping next week they'll instruct the valuation and not ask for anything else. Congratulations on your offer Louise 🙂

Louise_G_1983

Hi Helen, I also found them to ask the same questions a few times which is frustrating. They are very thorough which does slow it down. Our case got passed to a Senior Underwriter who also requested stuff but we got their in the end. Make sure your broker chases them a lot. For us it's been about 7 weeks of stress! Also worth noting that after our valuation they did another hard credit check. Not sure if this is standard practice or not but could indicate progress if you see another credit check. If its helps reassure you, we have a DMP and have had short term loans in the past (2019) but we're in a better position now. So thankful Vida have approved us. Good luck with yours. 

HelenM05

Hi Louise, I can't see that they've done a credit check at all yet but one of the questions they asked was regarding somebody showing on the electoral roll so I'm assuming they must have done a credit check. I only have access to totally money and clearscore so perhaps it doesn't show up on either of those. The frustrating thing is the broker and Vida both have 48 hour turnarounds so it takes virtually a week to get anything resolved 🙄🙄

Louise_G_1983

In my experience its been more like a week for updates. Vida are not quick. Try Experian, that's how I saw hard searches. I had two - one at the start of the application and one after valuation.