Anyone want to join me? Awaiting Mortgage decision...

Thought I'd post our story here to give reassurance to others in the same situation as us!

My income: £40550 (only been in current position for 3 months)
Fiance's Income: £12000 (owns her own company, only £5500 is salary)
Credit Card Debt: £7500
Car Loan 1: £240 per month
Car Loan 2: £140 per month
No kids, no dependents.
Credit history very good with no defaults or late payments and a long history of managing credit cards and loans.
Deposit Saved: £10000

Timeline:

21/05/15: AIP approved from RBS (our own bank) for purchase price of £170k with a £10k deposit
26/05/15: Viewed house, loved it.
27/05/15: Instructed solicitor to make an offer at the fixed price of £165k
28/05/15: Offer accepted
28/05/15: Try to arrange appointment with bank for full application before we go on holiday on the 04/06/15. Not possible. Arrange for the first day back, 19/06/15
04/06/15: Go on the most poorly timed holiday ever!
19/06/15: 2 hour meeting with RBS MA to complete the full application. The bank had asked for SA302 forms for OH, but she had her P60's showing the salary portion of her income. MA used these figures and managed to pass the affordability, meaning she didn't require SA302's. They asked for my offer of employment letter as I had only been with company for 3 months. No probation period therefore bank were fine with it. Went into a lot of detail about our outgoings but we explained everything and all was fine. Finally ran the credit check and passed. Application then sent to underwriters.
22/06/15: Text received from underwriters informing us that they had received the application and would let us know within 5 days.
25/06/15: RBS MA called me to say that the underwriters were not going to pass us based on affordability. Eventually worked out that I had paid off a chunk of my credit cards at the end of may but it hadn't yet been changed on my credit file. MA advised that I send in copies of statements etc to show most recent balances.
26/06/15: All statements received by bank and forwarded to underwriters
26/06/15: Title deeds delivered in the post sent by the sellers solicitor for review. We noticed that a small area of the garden is not included on the deeds. Contacted the solicitor who advised that we wait until the mortgage offer comes through before raising it with the bank. They may ask for the property to be revalued.
01/07/15: RBS MA called me to let me know that the underwriters had passed our application subject to the home report being ok. We had asked the seller to refresh the report so the date is recent and should be fine.

Now we're waiting on the formal offer coming through before letting our solicitor sort out the deeds issue. Completion date had been set for 10th July but I don't think there's any chance of that now!

What a stressful and worrying process, haven't slept correctly for weeks! Don't think we'll be properly calm about it until we're sitting out the back of the new house with a bottle of wine!

Best of luck to everyone else waiting for a decision, as my granny always says "what's for you will not go by you".

superfast808 wrote: »

01/07 - Application Agreed By Underwriter. Valuation instructed.

Valuation booked for Friday 3/7/15

Heard today, mortgage offer is in the post. Couldn't be happier, not particularly straightforward application, but went through broker, application through Woolwich app submittel to offer done in 9 days. Woolwich kept us updated every step of the way,

On holiday at the moment so celebrating with some Pimms tonight!!

22/05 - Original mortgage offer with Aldermore ran out
23/05 - New offer accepted (£2k less than original)
26/05 - Broker called Aldermore to see if we could extend the offer. Said yes but need to move quickly.
27/05 - Sent over latest payslip.
28/05 - Paperwork received and offer being worked on. Should hear by 1/6!
1/6 - Aldermore have offered extension but won't lend as much as before. Broker had a look at NatWest and they will offer more at a better rate. AIP done and approved. Mortgage application completed and sent off today. Should hear in a week if it's been approved.
8/6 - NatWest have requested more documentation which was sent off today. Back into the backlog queue!
15/06 - Mortgage approved subject to valuation being okay! So happy!
25/06 - Valuation done
01/07 - Valuation came back okay. Has been sent back to the underwriters though as the property is above a shop. Broker has already told NatWest before submitting app so not expecting any problems. Still a bit nervous though!

Hi All,

first time buyers here going through HTB 5% and 20% government equity loan

I've literally been through all 184 pages of this thread since applying, cant stop thinking about this application !! nervous they will decline us out of nowhere for whatever reason... as seems to be the case with some applications
I started back at my old job (worked there for 5.5 years, left to go to university and now back full time with them) but have only been working since 1st June. Hoping this isnt going to be an issue. Broker explained my circumstances to NW over the phone.
credit checked myself using creditfile and saw I wasnt on the electoral role even though I voted in May and panicked, but broker says we passed the DIP so it shouldnt be a problem.....

OH working as an engineer for 4 years on 23k, my job 15.2k asking for 145k loan (192k property 40 odd equity loan).

both of us have saved for our deposit of almost 10k and have plenty of money showing in our joint account for all other fees including stamp duty solicitors fees etc.
Neither of us have ever had any debts, defaults or CCJ apart from my student loan which i dont pay back because I dont earn enough.

13/6 reserve new build plot
19/6 decision in principle made after all docs sent to broker
19/6 full application completed over the phone with broker
19/6 application for help to buy sent off
19/6 text from nationwide to confirm application received
23/6 help to buy authority to proceed
23/6 NW want OH 4 months bank statements in different format
24/6 NW say full month not on bank statements (our fault) scan full statements to broker
24/6 valuation text for 29th June sent
25/6 they query my employment contract isnt signed by me (sign electronically and post back)
--- heard nothing for 5 days

---

30/6 text from new build department to say valuation was carried out
30/6 broker phones to say our application quite high up and should be dealt with soon; sends us quotes for income protection, life insurance buildings contents.
02/7 broker emails to say valuation was accepted and NW signing off documents and hope to offer tomorrow

still no valuation received text from natonwide even though broker says they receieved it and its fine.. is this normal? if they hope to offer tomorrow does this usually go ahead fine and dandy? i dont want to get my hopes up too high...:huh: