Kensington Mortgage application timescale

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Comments

  • sterow
    sterow Posts: 11 Forumite
    We were initally looking at a rate 2,89 - However its gone up to 3.44 - So bit of a difference. Needs must i suppose!
  • feekerry
    feekerry Posts: 76 Forumite
    Ye I think 2.89 was the rate on our paperwork but no news of that being changed yet. Broker just gave me a courtesy call today saying thanks for additional paperwork and it’s all been uploaded and may have updates end of week
  • Hi all I'm new to this site but wanted to post my experience as a vendor. My buyers are using Kensington and we are currently just over 8 weeks in and waiting for the mortgage offer. The valuation was carried out last Monday and I was hoping to have heard back by now. It is so frustrating especially as the buyers made it very clear that they needed a quick sale. For this reason we found a property we liked and put in an offer 7 weeks ago, making it clear to them that we needed a quick sale. We were originally hoping for mid to late November for completion but we'll be lucky to complete this year at this rate. It is not our buyers fault and we do not blame them at all, although I do wish we'd have waited on putting in the offer on the house we're buying as we feel like we're messing them about. They have agreed to rent if they don't find anywhere to buy but they could have considered buying. We'd mentioned the November deadline that we were hoping for and I think they taken that into consideration when looking for a property. How long did it take to receive an offer after valuation? Thank you in advance.
  • feekerry
    feekerry Posts: 76 Forumite
    Ooh I had a text to say valuation is booked for next week. Valuation is paid for by them so really hoping this is a good sign??!
  • Do you know how the valuation is being done? We are just starting a remortgage and due to past credit issues our broker has found us a deal with Kensington but it all depends on the house being valued at the 'right' price if that makes sense!
  • Sorry for my late reply.
    It took exactly 4 weeks from application to offer, with some pushing along the way.
    Be prepared to provide everything under the sun and then wait days for the new info to be processed.
    I found it tough, but got there in the end.
    Good luck everyone!
  • I Hope they get it sorted for you
  • I’m not sure about how it’s being done, I just got a text arranging it. It said they will need access to the property so I need to be there.
  • sterow
    sterow Posts: 11 Forumite
    I have had an email from the estate agents advising that the valuation was booked in for today.. So hopefully we are getting somewhere, however our broker still hasnt give us the final thumbs up
  • Hi Everyone,


    Just to give a heads up, it took us 10 weeks exactly to get our mortgage offer.


    KMC asked for lots of documents, then a few more documents, completed the valuation survey and then asked for more documents. They also wanted us to clear a small £300 loan and a credit card.


    So please stay positive, they are extremely slow but they get there in the end :)
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