Kensington Mortgage application timescale

anfieldred · 30 July 2018 at 1:20PM

Em2aLou38 wrote: »

I’ve got everything to hand..just means popping into work on a day off to print things off but needs must!
I’m just worrying about the affordability now..they would have based that on my original three payslips I provided wouldn’t they and not last years income???

Not sure to be honest - I had to give 4 month's payslips, and just details of where I worked previously/previous salaries. It may just be seeing if your earnings are consistent or going up/down. If there are any queries, as long as it's answered they seem to be ok.

Em2aLou38 · 30 July 2018 at 5:48PM

I know this April!!!8217;s p60 will be fine but can!!!8217;t remember what last years will be til I print it off tomorrow! My FA said as long as they can see at least 3k to 4K in overtime a year it!!!8217;ll be fine

anfieldred · 2 August 2018 at 10:55AM

Finally completed yesterday - it is a slow process, but it will get there.

ACG · 2 August 2018 at 11:53AM

Finally completed yesterday - it is a slow process, but it will get there.

I wrote this on the first page around 3 months ago.

ACG wrote: »

Kensington do usually get there, they are just ridiculous when it comes to underwriting. I always pre-warn my clients if we use kensington (and one or 2 other lenders) that they will make it hard work and that it is not a sign of their application being a bad one, it is just kensington being a nightmare for everyone.

"Nice" to hear they are still being Kensington. I do a lot of adverse Mortgages and they seem to make it a lot more painful than any other lender. I fed it back to them a few months ago when asked why we do not use them, they told me they had changed. Going off your reply that is not the case.

It is a shame really as they have some decent rates and criteria.

But the main thing is, you go there in the end. You just feel like you need a holiday by the end of it. Climbing Everest is probably easier...and quicker!

anfieldred · 2 August 2018 at 12:40PM

ACG wrote: »

I wrote this on the first page around 3 months ago.

"Nice" to hear they are still being Kensington. I do a lot of adverse Mortgages and they seem to make it a lot more painful than any other lender. I fed it back to them a few months ago when asked why we do not use them, they told me they had changed. Going off your reply that is not the case.

It is a shame really as they have some decent rates and criteria.

But the main thing is, you go there in the end. You just feel like you need a holiday by the end of it. Climbing Everest is probably easier...and quicker!

Don't think I did myself any favours with the way my finances were run/previous debts etc. Some in here got quick turnaround times - hasnt been many (or any?) in the thread that have fell through I don't think.

Hopefully in 2 years time I can get on a lower rate and back with a high street lender, but for now I'm just relieved it's gone through

Em2aLou38 · 3 August 2018 at 10:36AM

That!!!8217;s what I was thinking..looks like I!!!8217;ll have to suck it up for 2 years then switch (if everything goes through ok)

I!!!8217;m just annoyed that from looking at my credit report there!!!8217;s things linked to me that shouldn!!!8217;t be! I!!!8217;m waiting for Experian to pull their finger out and the CRA to get the Things removed but doesn!!!8217;t look like that!!!8217;ll be any time soon!

I!!!8217;ve sent all the other documents back off to the underwriters now last Tuesday..would it be a stupid question to ask how long it!!!8217;s likely to take now lol

anfieldred · 3 August 2018 at 12:51PM

Em2aLou38 wrote: »

That!!!8217;s what I was thinking..looks like I!!!8217;ll have to suck it up for 2 years then switch (if everything goes through ok)

I!!!8217;m just annoyed that from looking at my credit report there!!!8217;s things linked to me that shouldn!!!8217;t be! I!!!8217;m waiting for Experian to pull their finger out and the CRA to get the Things removed but doesn!!!8217;t look like that!!!8217;ll be any time soon!

I!!!8217;ve sent all the other documents back off to the underwriters now last Tuesday..would it be a stupid question to ask how long it!!!8217;s likely to take now lol

Depends whats in the documents - if there's no queries, it could be done in a week or two. Mine dragged on, but others have had quick replies. From AIP to valuation was about 18 days for me, but then from valuation to offer was maybe 6 weeks

Em2aLou38 · 3 August 2018 at 5:32PM

They!!!8217;ve just asked for the proof of deposit gift letter to be signed and a handwritten letter to cover the fact that there!!!8217;s things on my credit report that are in dispute.

My financial advisor assured me they will lend the money they just want to tidy the file up with these last documents and that!!!8217;s it

hunnibee_2 · 8 August 2018 at 10:39AM

Em2aLou38;

Yea I had the same requests, these are all before it goes to the underwriter. After the last bits are gathered, you may expect them to ask for additional details too.. they did with my. My mortgage advisor was getting his hair off with them by the end. I almost backed out & said if I wait until march I can go with a high street anyway & won't need all this crap! Think he said the same to them and I finally got my offer. :j
Hang in there.. keep conversations open with your sellers so they feel things are moving. Good luck

Em2aLou38 · 8 August 2018 at 2:06PM

Yay congratulations on getting your offer !!!55357;!!!56842;
They seem to come up with the goods eventually think they!!!8217;ve asked for everything now apart from a kidney lol!
They!!!8217;ve had payslips, bank statements, proof of address, three years of p60!!!8217;s, ID, proof of deposit, gift letter and ID for deposit, letter covering identity theft and deposit, I don!!!8217;t know what else they could need now

Kensington Mortgage application timescale

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