Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Bunneroo
    • By Bunneroo 10th Mar 17, 5:22 AM
    • 9Posts
    • 1Thanks
    Bunneroo
    Kensington Mortgage application timescale
    • #1
    • 10th Mar 17, 5:22 AM
    Kensington Mortgage application timescale 10th Mar 17 at 5:22 AM
    Hi- I hope this is the right place to post. We are waiting (almost 3 weeks) to hear from Kensington about our application. We were expecting lots of extra paperwork requests from what I have read on here. Anyone been through this that can maybe reassure me please? How do I know when they have done a valuation? The credit checks have been done though. Thank you!
Page 18
    • captain_finnegan
    • By captain_finnegan 9th May 19, 11:53 PM
    • 5 Posts
    • 2 Thanks
    captain_finnegan
    Would anyone mind telling me which Credit Reference Agency/Agencies Kensington use?
    Originally posted by onthemend88
    I have a credit application and quotation search on our Equifax reports and nothing on Experian or CallCredit/Transunion.
    • brunettegirl
    • By brunettegirl 10th May 19, 12:19 PM
    • 548 Posts
    • 857 Thanks
    brunettegirl
    Waiting waiting waiting!
    They have all the paperwork they need except the husbands p60 which hasn't been issued yet!! Judging by when he got it last year we have another week to wait to send it in.
    I need to start saving so I plan to save £2 a week to start with
    • captain_finnegan
    • By captain_finnegan 10th May 19, 5:03 PM
    • 5 Posts
    • 2 Thanks
    captain_finnegan
    Waiting waiting waiting!
    They have all the paperwork they need except the husbands p60 which hasn't been issued yet!! Judging by when he got it last year we have another week to wait to send it in.
    Originally posted by brunettegirl
    I was asked for mine last month but my employer told me they wouldnít be ready until at least the second week of May.

    Told my broker that and I didnít hear anything further about it.
    • brunettegirl
    • By brunettegirl 11th May 19, 7:09 AM
    • 548 Posts
    • 857 Thanks
    brunettegirl
    I was asked for mine last month but my employer told me they wouldnít be ready until at least the second week of May.

    Told my broker that and I didnít hear anything further about it.
    Originally posted by captain_finnegan
    we advised our broker that it could be the end of May, he said they won't proceed without it
    I need to start saving so I plan to save £2 a week to start with
    • brunettegirl
    • By brunettegirl 11th May 19, 7:13 AM
    • 548 Posts
    • 857 Thanks
    brunettegirl
    I've been following this thread with interest for the last few months as we've also had to go with Kensington.

    I expected the worst given past reviews and experiences detailed on this forum, but it hasn't been as bad as expected.

    Our application went in 10/04/19 and we've just received an offer this afternoon (09/05/19). Keep in mind we've had two bank holiday periods in mind, then that's pretty good going. Also, I'm under the belief that we probably could've had our offer within 2 weeks if everything had gone smoothly. Unfortunately both of our previous letting agents managed to delay the process in the most pointless ways - easily adding a week and half onto application process while we chased them to rectify their mistakes.

    Kensington really do seem to be trying to make their process quicker. At the end of the week they post their performance statistics on Twitter and it's been pretty accurate to us!

    We've never waited longer than 36 hours for additional documents to be assessed (quite often it's been the same day) and on Twitter they've been saying around 14-16 working days from application to offer. Ours took 18. Considering there have been three bank holiday days as well as a week and a half delay caused by letting agents, I'm happy with that!
    Originally posted by captain_finnegan
    What documents did you need to provide? Husband has been in his job over 3 years sent 4 months payslips, 4 months bank statements, proof of address, letting agent details
    I need to start saving so I plan to save £2 a week to start with
    • captain_finnegan
    • By captain_finnegan 11th May 19, 11:30 PM
    • 5 Posts
    • 2 Thanks
    captain_finnegan
    What documents did you need to provide? Husband has been in his job over 3 years sent 4 months payslips, 4 months bank statements, proof of address, letting agent details
    Originally posted by brunettegirl
    • 3 months pay slips for me
    • 3 months bank statements for me and partner (for main account and any that contained funds to be used towards the purchase)
    • Statements showing cleared balances on two of our credit cards (£398 on one and £700 ish on the other)
    • P60 for me (wasn't available yet so couldn't send - I sent my 17-18 P60 but that was from a different employer so I don't think the broker used it).
    • Letting Agent/Landlord details for any rental properties in the last 3 years
    • 18-19 Tax Overview and Tax Calculation for my partner (self-employed).
    • Explanation of why I have a credit default.

    My broker mentioned that ours "should be a quite straightforward case". We had no luck getting with a mainstream lender as my partner has only been self-employed for 13 months and the only blip on our credit reports is a £400 credit card default from 2014 caused by a hacked PayPal account and my young ignorance. We don't have any missed/late payments or overly high credit utilisation, so I think all these factors may mean that we had an easier time.
    • CJohn65
    • By CJohn65 14th May 19, 1:38 PM
    • 14 Posts
    • 4 Thanks
    CJohn65
    Our offer has now been issued this morning, 20 days from full application to formal offer.

    I am very impressed so far, broker has been awesome but also, hats off to Kensington.

    Good luck everyone!
    Senior Sales Negotiator in the Property Industry with 8 years experience in residential sales.
    • brunettegirl
    • By brunettegirl 14th May 19, 6:30 PM
    • 548 Posts
    • 857 Thanks
    brunettegirl
    Ooohhh more questions!!
    we seem to get over one hurdle then they throw several more at us.

    we got some money back from a PPI Claim so that cheque was put into the house fund (aka deposit account) as they asked for evidence of deposit we sent bank statement so now they have queried payments gone into account. need to find original paperwork to prove its from PPI then because i said one deposit was christmas money send by father in law we need to do a gifted deposit letter. (it was money for the boys, we choose to put into house fund, we haven't even told him we are house hunting)He lives in Perth Western Australia and the broker doesn't think a picture of the document with his signature on it will suffice will need to be posted! More waiting!!
    I need to start saving so I plan to save £2 a week to start with
    • brunettegirl
    • By brunettegirl 20th May 19, 6:28 AM
    • 548 Posts
    • 857 Thanks
    brunettegirl
    valuation has been completed. Had further queries today about some outgoings on bank statement. Hope they are close to making a decision and hopefully an offer
    Originally posted by DougalG1
    Have you had an offer yet?
    I need to start saving so I plan to save £2 a week to start with
    • brunettegirl
    • By brunettegirl 20th May 19, 6:34 AM
    • 548 Posts
    • 857 Thanks
    brunettegirl
    Hey everyone.

    Just moved to this thread from the Precise one.
    Our mortgage broker just cancelled our application with Precise after 5 weeks as they had a problem with a employment gap my partner had between his old job and current job. They wanted 1 year continuous employment and he had a 2 month gap between this job and his old one.

    Application was sent in yesterday so lets hope this one goes better.

    Good luck everyone x
    Originally posted by janoid19
    Have you had an offer yet you applied about the same time as me
    I need to start saving so I plan to save £2 a week to start with
    • janoid19
    • By janoid19 20th May 19, 8:57 AM
    • 19 Posts
    • 2 Thanks
    janoid19
    Have you had an offer yet you applied about the same time as me
    Originally posted by brunettegirl
    No not yet, we had a bit of a hold up as they were asking for proof of payment for an old default which wasn't showing up on the credit report but I'm hoping we are past that now as they have requested proof of deposit.

    How are you getting on?
    xx
    • brunettegirl
    • By brunettegirl 20th May 19, 11:11 AM
    • 548 Posts
    • 857 Thanks
    brunettegirl

    How are you getting on?
    xx
    Originally posted by janoid19
    They have sent a reference request to our landlord (which we didn't know about) so had to have a really awkward conversation with landlady we weren't expecting to have till we knew for sure. Quite cross about it as they could see the rent paid every month on standing order on bank statements and had even queried what the amount was for!

    So as yet I don't think that has come back yet, I can't chase my landlady for it as feel way to awkward, she hadn't received it when I spoke to her.

    So waiting to see if they come back with more questions as they have had everything they have asked for so far

    Taking Soooo long and the new homes person rang on friday to ask when we want to do our home demonstration!
    I need to start saving so I plan to save £2 a week to start with
    • brunettegirl
    • By brunettegirl 24th May 19, 6:46 AM
    • 548 Posts
    • 857 Thanks
    brunettegirl
    Our trail appears to of gone cold. We were asked for proof of where the house deposit had come from. So sent evidence in and all is quiet. Does that mane they have finished asking questions and now assessing? I have been ringing my poor broker daily he says he has esculated the application to his business development manager - no idea what that means. Just would like an answer one way or another.
    Waiting is sooo long
    I need to start saving so I plan to save £2 a week to start with
    • Askalaba
    • By Askalaba 24th May 19, 10:17 PM
    • 57 Posts
    • 25 Thanks
    Askalaba
    What's other people's experiences? I'm consider going down the Kensington mortgage path
    • Jpreid89
    • By Jpreid89 25th May 19, 10:12 AM
    • 4 Posts
    • 0 Thanks
    Jpreid89
    DIP recieved 02/05/19
    Application submitted 03/05/19
    Have been asked for various information similar to everyone else. Valuation was instructed for 23/05/19 and then heard back from broker yesterday with a few queries on bank statements. Quite suprised they are still asking for info after a valuation has been done especially as they have paid for the valuation. Like everybody else, just a waiting game still.

    Our adverse history is from 5 + years ago defaults mainly. I understand they have to be thorough but to be honest I am quite fed up of it now.
    • Jpreid89
    • By Jpreid89 30th May 19, 1:56 PM
    • 4 Posts
    • 0 Thanks
    Jpreid89
    Hi

    Have you heard anything as of yet?
    • brunettegirl
    • By brunettegirl 30th May 19, 6:28 PM
    • 548 Posts
    • 857 Thanks
    brunettegirl
    Hi

    Have you heard anything as of yet?
    Originally posted by Jpreid89

    Our underwriter is off apparently so our case hasn't been looked at since Tuesday!!! Our Broker said he will chase it tomorrow as they keep asking for the same thing they already have...

    How about you?
    I need to start saving so I plan to save £2 a week to start with
    • Jpreid89
    • By Jpreid89 30th May 19, 8:07 PM
    • 4 Posts
    • 0 Thanks
    Jpreid89
    We had our valuation last Thursday. They then queried a few transactions on our bank statement. They had the info back on Tuesday and now just waiting to hear if we get the offer or if they have more questions.

    The people who valued the property told the vendors everything is fine so hopefully hear something tomorrow otherwise it's another weekend of waiting
    • rf0099
    • By rf0099 2nd Jun 19, 12:02 PM
    • 1 Posts
    • 1 Thanks
    rf0099
    Just wanted to throw my hat in the ring as we have just gone through the process with Kensington. I am self employed with only two years business history and I have two defaults (both at £0 as they were cleared off) from about 5 years ago due to being a bit silly with money when younger.

    Even though my partner has a good credit history and many years continuous full time employment history, we were informed through our broker Trussle that the high street banks were unlikely to accept us.

    Having read some of the horror stories earlier on in this thread I wasn't looking forward to the application, but I can confirm that they seem to have improved their response times and it has been a fairly simple process, mostly down to Trussle knowing that they needed to collate all the required information before hand.

    If you are going through a broker I would suggest pointing out to them any adverse history you have or any transactions that you think they might query (such as credit agreements, regular standing orders etc.) as this will help you out in the long term and give you a quicker response. Also, try not to do anything that shows you could be careless with your money in the 3 months before your application (such as gambling, frivolous spending, anything adverse).

    Initially what we had to send was...

    - 3 months bank statements each
    - 3 years employment history each
    - 3 years proof of address each
    - Proof of deposit
    - Proof of ID each
    - 3 months business bank statements (self employed)
    - Last 2 year SA302/tax overview forms (self employed)
    - Clarification of any regular direct debits/standing orders
    - Agent/Solicitor details

    I was expecting to have to send a letter explaining the default, for there to be more back and forth on transactions etc. and for them to be questioning absolutely everything, but they only came back to us twice and Trussle were able to answer the questions on our behalf both times as we had clarified everything with them before.

    Our timeline:

    13th May - AIP received
    14th May - Application submitted
    16th May - Further info requested (landlord details, queried a couple of transactions on bank statement)
    22nd May - Questioned one more transaction
    24th May - All info/documents satisfied
    28th May - Valuation took place
    30th May - Valuation result received (slightly higher than what we offered!)
    2nd June - Mortgage offer received!

    So 20 days from AIP received to offer received - which is pretty good going considering there has been 3 weekends in that and a bank holiday.

    I never thought I'd be able to get a mortgage with those defaults on my account and only having two years self employment but it's gone through, so there is hope for plenty of people.

    Yes you have to pay higher interest initially but we have gone with a two year fixed rate mortgage with no fees so once we have done that we will be able to remortgage with a high street bank at a better rate.

    Good luck everyone - hope this helps - this thread has been a massive help to us!
    Last edited by rf0099; 03-06-2019 at 9:04 AM.
    • Stephaniemcc
    • By Stephaniemcc 2nd Jun 19, 7:37 PM
    • 1 Posts
    • 0 Thanks
    Stephaniemcc
    Hi everyone Iím reading all these posts and am currently waiting on the full application with Kensington. My mortgage advisor keeps saying it should go through but after the DIP was a yes the full application went through on the 8th may and still waiting😩!

    On Tuesday of this week they asked for proof of deposit and also queried a deduction on my payslip which I explained and is minimal. I am literally on pins waiting for this to go through, the developers for the new build Iím buying have said they want to exchange contracts on the 21st June. If it doesnít go through after waiting almost a month Iíll be gutted!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

935Posts Today

6,424Users online

Martin's Twitter
  • It's the weekend, it's the weekend, yay. It's that moment, when as usual, to sign off for family time. So I bid y? https://t.co/2RYRnz3fEe

  • Actually the BBC was set up to "educate, entertain and inform" so I think it is one of its responsibilities and cle? https://t.co/HMP4Q2Uptu

  • Today's FRI twitter poll: Puritanical new laws by Tories/Labour/EU/Trump/Putin (pick ur own scapegoat) dictate mode? https://t.co/3LW55tFGJ9

  • Follow Martin