Hard search done , is this a good sign?

Caz3121

COYI123 said:

For some reason dip was only lending 2 X our income 

is any income from overtime? self-employment? etc
are you working with a mortgage broker?

NatashaKB

COYI123 said:

K_S said:

COYI123 said:

Hi everyone I applied for a mortgage on Thursday the 25th and a hard search was done on that day , a valuation was done in person yesterday , I’m just wondering if since the hard search has already been done and we haven’t heard anything bad from that , and they carried out a valuation the next day , is that a good sign ? Absolutely nervous right now any help would be much appreciated! 

@COYI123 Accord will have got all the information it needs from your credit file at the soft-footprint (visible only to you) DIP stage. If there was a problem in that, it would've failed the DIP.

When you submit a full application, Accord leaves a hard-footprint (visible to other lenders). The information that Accord gets from your credit history is the same in both cases.

For my recent cases, Accord has instructed a valuation after the case is assigned to a human being and they've conducted an initial assessment (a sense check). So looking at it through that lens, a valuation being instructed is a positive step forward.

Could it be rejected from this point on - potentially.

The underwriter could raise a query that the broker/applicant can't answer satisfactorily for whatever reason, etc. but assuming that your case meets criteria, and any contentious issues (if any) have been discussed with the BDM prior, the chances of that are low.

Good luck, hope you get an offer soon!

Thank you you’re answer makes a lot of sense , appreciate that a lot has really eased my mind . How long do accord normally take now days from application date to offer ? 

Sorry - I realise this thread is a little old but currently going through the application process with Accord. 
Our AIP went to review and was accepted and once our application was submitted a hard search was done and during our second viewing the mortgage valuation was booked in. 
I am guessing this is a good sign?
Did your mortgage application get accepted? 
How long did you have to wait after your valuation for your decision to come through? 
We are first time buyers and this is the most nerve wracking situation we have ever been in!!

ACG

NatashaKB said:

COYI123 said:

K_S said:

COYI123 said:

Hi everyone I applied for a mortgage on Thursday the 25th and a hard search was done on that day , a valuation was done in person yesterday , I’m just wondering if since the hard search has already been done and we haven’t heard anything bad from that , and they carried out a valuation the next day , is that a good sign ? Absolutely nervous right now any help would be much appreciated! 

@COYI123 Accord will have got all the information it needs from your credit file at the soft-footprint (visible only to you) DIP stage. If there was a problem in that, it would've failed the DIP.

When you submit a full application, Accord leaves a hard-footprint (visible to other lenders). The information that Accord gets from your credit history is the same in both cases.

For my recent cases, Accord has instructed a valuation after the case is assigned to a human being and they've conducted an initial assessment (a sense check). So looking at it through that lens, a valuation being instructed is a positive step forward.

Could it be rejected from this point on - potentially.

The underwriter could raise a query that the broker/applicant can't answer satisfactorily for whatever reason, etc. but assuming that your case meets criteria, and any contentious issues (if any) have been discussed with the BDM prior, the chances of that are low.

Good luck, hope you get an offer soon!

Thank you you’re answer makes a lot of sense , appreciate that a lot has really eased my mind . How long do accord normally take now days from application date to offer ? 

Sorry - I realise this thread is a little old but currently going through the application process with Accord. 
Our AIP went to review and was accepted and once our application was submitted a hard search was done and during our second viewing the mortgage valuation was booked in. 
I am guessing this is a good sign?
Did your mortgage application get accepted? 
How long did you have to wait after your valuation for your decision to come through? 
We are first time buyers and this is the most nerve wracking situation we have ever been in!!

Ask your broker, thats part of their job. 

But looking at their website, its looking like it will be around 5 days. 

JoyousDreams

NatashaKB said:

COYI123 said:

K_S said:

COYI123 said:

Hi everyone I applied for a mortgage on Thursday the 25th and a hard search was done on that day , a valuation was done in person yesterday , I’m just wondering if since the hard search has already been done and we haven’t heard anything bad from that , and they carried out a valuation the next day , is that a good sign ? Absolutely nervous right now any help would be much appreciated! 

@COYI123 Accord will have got all the information it needs from your credit file at the soft-footprint (visible only to you) DIP stage. If there was a problem in that, it would've failed the DIP.

When you submit a full application, Accord leaves a hard-footprint (visible to other lenders). The information that Accord gets from your credit history is the same in both cases.

For my recent cases, Accord has instructed a valuation after the case is assigned to a human being and they've conducted an initial assessment (a sense check). So looking at it through that lens, a valuation being instructed is a positive step forward.

Could it be rejected from this point on - potentially.

The underwriter could raise a query that the broker/applicant can't answer satisfactorily for whatever reason, etc. but assuming that your case meets criteria, and any contentious issues (if any) have been discussed with the BDM prior, the chances of that are low.

Good luck, hope you get an offer soon!

Thank you you’re answer makes a lot of sense , appreciate that a lot has really eased my mind . How long do accord normally take now days from application date to offer ? 

Sorry - I realise this thread is a little old but currently going through the application process with Accord. 
Our AIP went to review and was accepted and once our application was submitted a hard search was done and during our second viewing the mortgage valuation was booked in. 
I am guessing this is a good sign?
Did your mortgage application get accepted? 
How long did you have to wait after your valuation for your decision to come through? 
We are first time buyers and this is the most nerve wracking situation we have ever been in!!

Hi! Appreciate this is an old post so may not get a reply. But our application for an AIP through Accord has been referred on Weds night. How long was it before you received an answer from them on the referral?