Anyone want to wait out approval with me?

Back again.
After a long agonising wait in 2020 I got my mortgage with nationwide. Since then myself and my ex partner have separated and I've decided to sell and buy my own place. Not as easy now as thanks to him I got some defaults!
Full application went in to Vida this morning. Now a very anxious wait. I've read some scary stuff about them on here but my mortgage advisor reckoned they are better now than they have been and were giving a lower rate than other lenders.
I've no idea what their decline rate is but the fact is they could decline loads of people and they'd still get £370 quid a pop as that's the none refundable application fee!
Anyway, my mortgage advisor said she reckons an average of 10 weeks from it going in to full approval so it's going to be a long long anxious wait.
NATIONWIDE FTB -
Full application- 8th July 2020
Hard credit check - 19th July 2020
Physical Valuation carried out - 5th August 2020
Valuation received by Nationwide - 7th August 2020
Offer via text message - 18th August 2020
Message via text saying revised mortgage offer - 13th November 2020
Exchanged contracts - 16th December 2020
Completed - 18th December 2020

VIDA HOME MOVER SOLE MORTGAGE
Full application - 29 November 2023
Requested more documents - 
4th December 2023
Offer subject to Valuation- 6th Dec 2023
Valuation booked - 6th December 2023
Physical Valuation carried out - 7th December 2023
Underwriting 11th December 2023
Mortgage offer - 20th December

Comments

  • ACG
    ACG Posts: 23,625
    First Anniversary Name Dropper First Post I've helped Parliament
    Forumite
    edited 29 November 2023 at 12:50PM
    Vida are not in my good books by any stretch, in fact they are in the bad books. 
    What they did over covid and again after without so much as an apology, not just to customers but to their staff - thats not a company I want to work with so I took them off my list of lenders. 

    I dont think I am the only one as they have sinced increased commission rates they pay to brokers and they do have decent products and criteria. I cant imagine them looking for reasons to decline as I think they are trying to make inroads with brokers. 

    A few defaults depending on the details is probably their bread and butter type of case. As much as I dislike them, I think you will be fine. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Trust your broker and try not to stress out.

    (Easier said than done I know!)

    Good luck and I hope you have a smooth approval.
  • lemliss
    lemliss Posts: 81
    First Anniversary First Post Name Dropper
    Forumite
    Thanks guys. ACG pleased to see you are still here you gave me lots of advice first time round!
    Think I'm feeling the pressure a bit more this time as my house has sold and if I can't get a mortgage I'll have to go back to renting.
    NATIONWIDE FTB -
    Full application- 8th July 2020
    Hard credit check - 19th July 2020
    Physical Valuation carried out - 5th August 2020
    Valuation received by Nationwide - 7th August 2020
    Offer via text message - 18th August 2020
    Message via text saying revised mortgage offer - 13th November 2020
    Exchanged contracts - 16th December 2020
    Completed - 18th December 2020

    VIDA HOME MOVER SOLE MORTGAGE
    Full application - 29 November 2023
    Requested more documents - 
    4th December 2023
    Offer subject to Valuation- 6th Dec 2023
    Valuation booked - 6th December 2023
    Physical Valuation carried out - 7th December 2023
    Underwriting 11th December 2023
    Mortgage offer - 20th December

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