Anyone want to join me? Awaiting Mortgage decision...
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Have followed this thread for the past month now and been through so much anxiety over whether our mortgage application would actually succeed. Thought I would let you all know how smooth the whole process has been for us with a direct application through Virgin Mortgages without a broker.
We found a low 2.35% 5-year fixed FTB mortgage (90% LTV) via money supermarket and decided to cut out the middle man and apply directly. The only documents required were last P60 and past two months' pay slips. No bank statements or other documentation were required.
Here is our timeline:
29th November – Telephone DIP application interview (30 minutes). Hard credit check completed, approved there and then and DIP issued via email.
12th December – Offer accepted on a house.
19th December – Telephone interview with Virgin mortgage adviser who recommended mortgage product based on our cirumstances and completed full application over phone (1 hour). It matched the one we had found on price comparison site.
20th December – Received paper copy of application form to sign through the post. Completed direct debit form and posted back 27th December with the following documents:
Last P60 for both of us,
Last two months’ pay slips for both of us.
28th December – Application and documents received by Virgin (we sent by special delivery).
31st December – Virgin called to take product and valuation fees over the phone.
3rd January – Underwriter telephoned to say documents and application form were fine and that they would instruct valuation.
7th January – Valuation carried out.
8th January – Email received with formal offer of loan.
Can't believe it! It was painless and I feel stupid for having worried so much. Good luck everybody.0 -
Had a smooth application with Principality.
From application to Mortgage offer in 2 weeks!
And they also asked for 2 CC's to be cleared off but they didnt push for this at completion and we got the full mortgage without having to clear them, bit strange they would ask of this and not force it?
Your solicitor may well enforce it on their behalf.0 -
woofdonkey wrote: »Your solicitor may well enforce it on their behalf.
We are in the house and had nothing from Solicitor in regards to this. It was something our Mortgage advisor said they wanted but it wasn't on the Mortgage offer sent to us or Solicitor so Solicitor wasn't aware of it.0 -
Had a smooth application with Principality.
From application to Mortgage offer in 2 weeks!
And they also asked for 2 CC's to be cleared off but they didnt push for this at completion and we got the full mortgage without having to clear them, bit strange they would ask of this and not force it?We are in the house and had nothing from Solicitor in regards to this. It was something our Mortgage advisor said they wanted but it wasn't on the Mortgage offer sent to us or Solicitor so Solicitor wasn't aware of it.
Ours told us they would only complete if we signed to say we would pay the debts off and retain receipts. Sounds like they may have forgotten to put it on your paperwork.0 -
woofdonkey wrote: »Ours told us they would only complete if we signed to say we would pay the debts off and retain receipts. Sounds like they may have forgotten to put it on your paperwork.
They must have, or did Solicitor miss this? I just checked our mortgage offer and it definitely doesnt mention it...Does Solicitor receive same mortgage offer as us?
So when do you have to pay yours off by?0 -
Hi everyone, I am a FYB and SO CONFUSED and stressed!! My partner and I have been accepted by our broker who completed an affordability check over the phone (is this a decision in principle?) We then passed our credit check with the broker on Tuesday.. we are now awaiting an advisor to come visit us on the 21st to do a final affordability check before submitting the application to Santander for approval, are we likely to be accepted? Surely seeing as though we have passed the credit check as well as affordability is there much else that could go wrong? The idea of waiting these next few weeks is so stressful!0
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Hello everyone
Long time dipping in and out of forums here but not a poster. Thought I’d join in here 😀
9/1/19 - application started with L&C, asked to provide evidence of change of name
10/1/19 - application submitted to Barclays in the morning, decision in principle arrived in the afternoon
11/1/19 - email advising of mortgage offer
11/1/19 - letter from Barclays solicitors to authorise them to proceed
If anyone has any idea how long from here to completion, please let me know 🙂0 -
I will join.0
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Hi everyone, I am a FYB and SO CONFUSED and stressed!! My partner and I have been accepted by our broker who completed an affordability check over the phone (is this a decision in principle?) We then passed our credit check with the broker on Tuesday.. we are now awaiting an advisor to come visit us on the 21st to do a final affordability check before submitting the application to Santander for approval, are we likely to be accepted? Surely seeing as though we have passed the credit check as well as affordability is there much else that could go wrong? The idea of waiting these next few weeks is so stressful!
Almost in the exact same position.
Been talking to broker during the week, affordability came back fine. Broker recommended a Natwest mortgage.
I've done a separate AIP online with Barclays to test the water as i'm so nervous about it all and it's only a soft search, but this all came back ok with our requested amount. Our broker wants to credit check on Monday.. I'm pretty nervous as FTB..0 -
Hello
Not sure if anyone is still following this thread but looking for advice.
We had a mortgage offer from a company called Bluestone unfortuntly not long after getting the offer i was offered a really good job in a school with more stability than where i was but there is a £5000 a year pay cut. Bluestone dont stretch afforadability and wouldnt lend us the full amount we needed £177.995 as the property is £234.995 as we are using help to buy.
The property we are buying was due to be completed in October 2018 but due to delays it is now due to be completed in February so we are now panciking about the mortgage being offered in time.
We put the application in on the 4th Janaury and to be fair Kensington have been really quick at getting back to us and we have been able to provide everything they have asked for. They contacted us on friday and said they were happy with everything and were still awaiting a reference back from my new employer (only been there 2 months but have a contract and kensington seem to be ok with this i think as its the same role i was in before) the only thing they have questioned is my husbands pay, he is on good more £33,000 a year the problem is he is employed by his parents (been there 10 years in May) he is the manager of their fish and chip shop.
Kensington dont like the fact he is paid weekly in cash and have asked us for 4 payments bacs transfer before they go any further, what we are worried about is that after this 4 weeks they decline it and we loose our house when we could have gone with someone else. We are also concerned i am in a probabtionary period of 6 months with everyone is when working for the council. Kensington have not mentioned this though.
What do you think we should do? Wait the 4 weeks and see?
Thank you0
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