Kensington Mortgage application timescale

Mrpear · 19 October 2017 at 1:41PM

feekerry wrote: »

Mrpear- your last post does concern me tho?! Why would you be declined for using an authorised overdraft? We use our overdrafts regularly.. is this an issue?

I think you misunderstood.

I went £15 over my authorised overdraft of £1000.

feekerry · 19 October 2017 at 2:15PM

Ah yes sorry. Hoping you can provide your explanation and it is acceptable

sam1431 · 19 October 2017 at 6:12PM

Hi to all who seem to be in the same boat as me, my broker submitted my full application today and has advised a timescale of 7 days before the underwriting team get in touch. After reading all the comments here in a little disheartened and feel it's going to be a really long process.

feekerry · 19 October 2017 at 8:16PM

Sam -we seem to have applied at the same time! Will be interesting to see how they pan out. Mine is a remortgage though

obay · 19 October 2017 at 8:30PM

I was wondering if KMC do product switches when the remortgage is up? I'm looking at some of there rates, and instead of getting all the hassle of a new deal, etc i'd rather just stick with KMC, but lower my interest rate to there 2.94%.

sam1431 · 20 October 2017 at 1:30PM

Feekerry I have a remortgage to release equity for a btl so 2 things going through them. We will have to keep each other updated to see if our timescales differ. I did ring them today and was told it's 3 days turnaround to see what basic information they need and then 5 days turnaround for everything that is sent off after that.

sterow · 20 October 2017 at 4:36PM

I am also in a similar position - recieved dip end of august.
Property found and offer accepted 29/09.
Full application put in on the 10/10
Valuation fee taken
More docs required 16/10
Further docs required 19/10
Now today, been told the interest rate has changed from 2.89 to 3.44 So broker is again querying this, but doesn't look good, as the rates changed in october and previous KFI was built on the old rate.

Only good thing about this is our broker is in regular contact and seems as though Kensington are processing things at an ok pace!

fingers crossed, but dont really have any other option!

sam1431 · 21 October 2017 at 9:22AM

sterow wrote: »

I am also in a similar position - recieved dip end of august.
Property found and offer accepted 29/09.
Full application put in on the 10/10
Valuation fee taken
More docs required 16/10
Further docs required 19/10
Now today, been told the interest rate has changed from 2.89 to 3.44 So broker is again querying this, but doesn't look good, as the rates changed in october and previous KFI was built on the old rate.

Only good thing about this is our broker is in regular contact and seems as though Kensington are processing things at an ok pace!

fingers crossed, but dont really have any other option!

Were you asked for a lot if additional documents im dreading what they will ask for I have already submitted pay slips p60 and ID and yesterday I handed my statement with deposit which my mortgage broker will scan onto the application.

sterow · 21 October 2017 at 9:36AM

Similar Documents to what you have mentioned. Plus a statement to confirm build up of a deposit.
They have also request a letter of why i have a ccj and why it isnt settled.
Broker i am using doesn't seem to fazed by it all. So hopefully we will finally get there

feekerry · 21 October 2017 at 5:33PM

Got a phone call Friday from broker saying underwriter was ‘happy’ with our application and has requested some additional documents like p60 as only provided pay slips originally. Broker said 5 working day turnaround for the additional docs to be assessed.
I’m worried as nearly everywhere is putting interest rates up now and not sure whether our rate stands. We have signed all the docs etc but not at offer stage

Kensington Mortgage application timescale

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