Coventry Building Society Mortgage Timeline 2021

M444BYR

Hello!
Calling all those that have had experiences with Coventry Building Society mortgages!
My Partner and I have recently had an AIP agreed with CBS that was initially referred. Our MB has managed to get us a good deal at 1.75%. My question really is that because CBS are one of the lenders that complete a 'hard' search at AIP and that it was initially referred to an underwriter at that stage, does this generally mean that as long as everything is the same with our documentation (which it is), it's more certain to be approved for an offer? 
Also, do CBS perform another 'hard' check when the full application is submitted?

Does anyone else have experiences with Coventry, good or bad? 

TIMELINE
-------------
18/04/21 - Applied for AIP with CBS through MB (went to REFER status)
21/04/21 - Hard Check appeared on CR
27/04/21 - AIP Approved
25/04/21 - Full Application submitted

M444BYR

I should point out that this is a Re-Mortgage (and adding me onto it) on a property that my OH already has a mortgage on but I have been here since the purchase date with her.  We're asking for additional funds to consolidate debt which makes it about 55% LTV based on a conservative valuation.

zoemk12

cant help but also have an application with Coventry and would like to know same answers in terms of approval after hard search. 

Timeline
15/05/21 - applied for AIP which referred. We know why, my partner has a late payment from Barclaycard for £14 which he didn’t even know about! He’s actually already got a mortgage with Coventry 

19/05/2021 AIP approved and had telephone mortgage advice call. Asked to send 1 payslip & p60 each plus proof of ID & address just for me. 
24/05 paperwork received in post 
25/05 paperwork sent back
We wait... 
does it go back to underwriting, is there another search? 
 

Capri84

01.04 95% DIP requested (referred) 
04.04 DIP received
16.04 Offer accepted on house

20.04 Full application

Lots of batting around and work reference requests for a month between 20.04-21.05. Also coventrys systems were down for a while + some bank holiday days... but it felt like a long slog. 

21.05 Mortgage offer

11.06 completion date. 

allie777

My full application was submitted 22nd April and I got my offer on 14th May. I'm not sure about hard checks as I haven't checked. I wasn't asked any questions once the application was submitted, I think my MB already had all the info needed from me, it was just a case of waiting on the underwriters - I'm a FTB with no debt so not sure if that sped things up! 
If you check the Coventry intermediaries website it has a status page with all the info on average time to receive offers and what dates of paperwork they're working on - hope it helps!

zoemk12

Capri84 said:

01.04 95% DIP requested (referred) 
04.04 DIP received
16.04 Offer accepted on house

20.04 Full application

Lots of batting around and work reference requests for a month between 20.04-21.05. Also coventrys systems were down for a while + some bank holiday days... but it felt like a long slog. 

21.05 Mortgage offer

11.06 completion date. 

Interesting- why did they need a work reference? 

Also, what other proofs did they ask for? I’ve ordered a bank statement just incase but they haven’t asked for one st this stage. 

Thanks 

zoemk12

Capri84 said:

01.04 95% DIP requested (referred) 
04.04 DIP received
16.04 Offer accepted on house

20.04 Full application

Lots of batting around and work reference requests for a month between 20.04-21.05. Also coventrys systems were down for a while + some bank holiday days... but it felt like a long slog. 

21.05 Mortgage offer

11.06 completion date. 

Wow your offer and completion date are close 😬... best of luck, enjoy your new home! 

Capri84

Yep. Was touch and go for a bit, and a lot of stress - especially last week! 

Work reference for for my wife as she’s been on flexi-furlough and they questioned the resulting ‘deduction’ from her wage slips. Was silly really as her salary is ‘only’ £6600 and on the most recent payslip the deduction amounted to £7 🤦🏼‍♂️

M444BYR

Update - We had a letter in the post today (dated 07/06) from CBS saying that they have instructed a valuation (bear in mind we submitted full application on 26/05) I was under the impression that they instruct a valuation on day 1.  Our MB still hasn't heard anything else, they've not requested any other docs or anything. Strange! 

Capri84

Update from me;

We had a completion date of last Friday and everything ran smoothly once we got our offer. We were getting messed around by Coventry for silly bits of paperwork and our MA requested to speak to a senior underwriter who smoothed things over and our offer was then quickly released. 

M444BYR

Still no news. CBS are being frustratingly slow. No updates from MB (other than its with the lender and they haven't asked for anything else, so we think everything is OK), to be honest he seems reluctant to give them a call to check when we email. 


TIMELINE
-------------
18/04/21 - Applied for AIP with CBS through MB (went to REFER status)
21/04/21 - Hard Check appeared on CR
27/04/21 - AIP Approved
26/05/21 - Full Application submitted
07/06/21 - Valuation Instructed