AIP done, hard searched & payslips etc in. waiting on valuation-just how likely am I to be accepted

LTNRW

I know nobody has a crystal ball & its not easy to say either way how a decision will go.

I applied for an AIP Sunday.  to purchase my grandmothers property.  using a concessionary based deposit of 15-20%   ( the lender is aware of the concession based deposit)

all I could use at the time is a online estimated valuation ( 94k-115k )
so asked for 80k based on valuation of 100k 
ie.  80% LTV

Lender has since asked a few questions in back and forth emails.. regarding certain things on my credit report 
( 1 late payment about a year ago - literally HOURS late due to DD dates not being altered )
and a few other questions about what credit accounts I have - ( all with zero or low balances , always paid off in full on time )

Ive also sent in as requested 6 months bank statements & payslips etc. which they have now gone through.



It seems now they just need a valuation being made, which I have paid for and waiting for an appointment to come through..
Am I getting ahead of myself or does this seem as though its likely to be accepted should the valuation match what they are expecting?

ps.. sorry if wrong location.

themainman84

The fact that they are asking questions is a good sign. This means it hasn't been declined at the offset. Lenders are usually ok with one late payment within a 12 month or so period. If they have gone through statements and payslips and still haven't declined then that is a positive sign. From the info given it seems that it's just a matter of waiting for valuation and once that is done then all should be good.

Who is the lender?

LTNRW

I thought the same, the questions and them being happy with my explanations etc..

I'm so cautiously optimistic, everything is crossed haha.

The lender is YBS by the way.  

themainman84

I personally think you're fine, especially if they have accepted money for the valuation. Best of luck with the purchase

Irishpearce26

If you are waiting days for an AIP then it may not be good news, usually an AIP/DIP are instant responses based on soft criteria. If the lender needs hard data at this stage then its because you are deemed high risk. Are you sure you haven't made a application rather than an AIP?

The late payment is the red Herron here, you cant miss a DD by hours. Its based on an agreed date by whoever the agreement is with, it can however be missed if you didn't have enough money in the account even if you put some in hours after. Its still a missed payment.

LTNRW

No. Sorry. 

AIP was accepted straight away

This is regards the full application.
My final email from YBS says they are now just waiting for valuation..

LTNRW

Regards the missed payment. I know whether it was late by a few hours or a week is irrelevant to credit reports.
But when that account and all others show on time both before and after that late payment. Its obviously a blip and not anything more serious.