Accord mortgage application

Melis2024

Mortgage application submitted yesterday and already have received completed survey! (yesterday afternoon). There was a typo on the survey so our broker has sent it back but everything else ok. One question from Accord today to upload 1 months bank statements for myself to prove receipt of income. Does anyone know what stage we might be in the process or when we would be likely to get a decision?

kingstreet

You are likely to have a mortgage report and valuation, not a survey. If you require more in-depth information on your new home following a physical inspection, commission a survey by an independent chartered surveyor.

Lender don't often have a "approved subject to..." milestone these days. Once the documents are checked and accepted and the valuation is done and fine, the offer is issued.

I can't speak for others, but the minute I submit an application, I upload the required documents, usually a payslip or three, a bank statement or three and so on. I don't usually wait to be asked...

Melis2024

kingstreet said:

You are likely to have a mortgage report and valuation, not a survey. If you require more in-depth information on your new home following a physical inspection, commission a survey by an independent chartered surveyor.

Lender don't often have a "approved subject to..." milestone these days. Once the documents are checked and accepted and the valuation is done and fine, the offer is issued.

I can't speak for others, but the minute I submit an application, I upload the required documents, usually a payslip or three, a bank statement or three and so on. I don't usually wait to be asked...

The property is only 2x years old and has most of the 10 year warranty remaining so not too concerned about that. 

Can underwriter start assessing the application prior to the amended valuation doc being sent? We don’t seem to have had any questions other than to upload 1x months bank statements. Our broker has said he has uploaded all the docs required so they should have everything to hand.

Melis2024

mortgageFTB said:

They’ll have just done a desktop valuation, nothing more.

I would 100% get someone to check it. Even if it’s just 2 years old.

We were rejected by Leeds building society who did a full in person valuation and was all good so not concerned on that front 

chanz4

Melis2024 said:

kingstreet said:

You are likely to have a mortgage report and valuation, not a survey. If you require more in-depth information on your new home following a physical inspection, commission a survey by an independent chartered surveyor.

Lender don't often have a "approved subject to..." milestone these days. Once the documents are checked and accepted and the valuation is done and fine, the offer is issued.

I can't speak for others, but the minute I submit an application, I upload the required documents, usually a payslip or three, a bank statement or three and so on. I don't usually wait to be asked...

The property is only 2x years old and has most of the 10 year warranty remaining so not too concerned about that. 

Can underwriter start assessing the application prior to the amended valuation doc being sent? We don’t seem to have had any questions other than to upload 1x months bank statements. Our broker has said he has uploaded all the docs required so they should have everything to hand.

would have a look at what the actual warranty covers, new build exclude so much on nhbc

JustMe18

Ours is with Kent , but timescale so far : 
23/11 - got an AIP
23/12 submitted full mortgage application
23/12 - they did hard credit check
27/12 - valuation done 
02/01 - valuation completed
04/01 - extra documents requested and some questions asked


so I sent/answered all questions etc. waiting now....are we in good position to get offer, if valuation been done? also broker said affordability and hard credit check has passed.
we had credit issues in past, therefore had to us Kent , so very worried, as it's our dream house we are purchasing ( not fist time buyer though, but after this stress I think never again lol )

kingstreet

Melis2024 said:

kingstreet said:

You are likely to have a mortgage report and valuation, not a survey. If you require more in-depth information on your new home following a physical inspection, commission a survey by an independent chartered surveyor.

Lender don't often have a "approved subject to..." milestone these days. Once the documents are checked and accepted and the valuation is done and fine, the offer is issued.

I can't speak for others, but the minute I submit an application, I upload the required documents, usually a payslip or three, a bank statement or three and so on. I don't usually wait to be asked...

The property is only 2x years old and has most of the 10 year warranty remaining so not too concerned about that. 

Can underwriter start assessing the application prior to the amended valuation doc being sent? We don’t seem to have had any questions other than to upload 1x months bank statements. Our broker has said he has uploaded all the docs required so they should have everything to hand.

It's difficult to say but typically the underwrite will await fully acceptable documents checked by a specialist team before the fully packaged application is passed for UW decision.

annetheman

Hi everyone, my mortgage broker is going to submit my first application (DiP) to Accord tomorrow - I thought I'd look into what their timelines are like and so glad I found this thread!

It's an awkward time of year to apply because in March I get my pay review and bonus, so ideal would be a month or two from now, but the house won't wait! I hope they accept pay review letters from employers... If I even get that far.

I'll be peeking in here often!

annetheman

My broker put my application in today 13 Jan 2024.

Fingers crossed all is okay...

annetheman

And valuation tomorrow 16 Jan 2024 - blimey they are fast!

They asked about a direct debit and I gave the reason for it (monthly rent and service charge for shared ownership flat), with transaction itemised bills. 

Hope the estate agent takes the property off the market on valuation. I’d be happy to hear from Accord any time before end Feb! 

JustMe18

annetheman said:

And valuation tomorrow 16 Jan 2024 - blimey they are fast!

They asked about a direct debit and I gave the reason for it (monthly rent and service charge for shared ownership flat), with transaction itemised bills. 

Hope the estate agent takes the property off the market on valuation. I’d be happy to hear from Accord any time before end Feb! 

I applied with Kent on 23rd of Dec, valuation was done next day after Boxing day, so fast as well...but after that, still waiting....they have 16 days from applying to offer , which runs out this Thursday...not sure if that will be the last day they can issue my offer.