Anyone want to join me? Awaiting Mortgage decision...

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  • JamesN
    JamesN Posts: 776
    First Anniversary Combo Breaker First Post
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    They came back querying my wife's address as it is set to my parents when we were between two houses. Didn't bother changing as knew we would be moving again within a year. Broker seemed happy with the explanation.

    It's a bit frustrating that they keep coming back with individual things. I'd rather they just sent me one list of things to go through.
  • Hi, I'm new to the site and feeling so stressed so it nice to know I'm not alone.
    My timescale so far
    Offer accepted 5/8
    Full mortgage application completed by broker 7/8
    More information requested 17/8
    More information requested 21/8
    I have been told to contact mortgage company ( natwest) on Monday for an update.
    My broker has been useless so far. I've only known natwest has required more information because I have call for updates.
    Monday seems a long time away
  • TB1987
    TB1987 Posts: 66
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    Hi all,

    My timeline is below, ours is a bit of a different situation as we are buying my fiance's parents house and have already rented it from them for 5 years. We are getting married in just over 3 months time so really doing the 2 of the most stressful things in life in a short time span :)

    03/08 - First meeting with our broker after fiance's parents had a valuation done and we agreed on our purchase price

    12/08 - Broker comes back to us with a Halifax AIP which we are happy with

    18/08 - Full app goes into Halifax. Not too happy with our broker as he said it would be done on Sat 15th so we were on tenterhooks on that Monday and Tuesday as we didn't hear anything until 4:45pm and thought the app had already gone in!

    19/08 - Valuation booked for Monday 24th

    Now we play the waiting game with everyone else, was a little unhappy with the broker as if it had gone in on Saturday as he originally said we may of got a valuation this week, I wouldn't have minded it going in on the Tuesday if that is what they would have said in the first place!

    Good Luck to everyone waiting over yet another weekend, never felt in such limbo like this before.
  • Here's where we are with Natwest...

    Aug 1st AIP for full amount.
    Aug 4th Full application submitted
    Aug 11th Underwriters passed off wife's paperwork
    Aug 12th All paperwork passed off
    Aug 17th Valuation booked (House seller called to let us know)
    Aug 22nd House Valued by natwest

    Now we play the waiting game. I'm so nervous it's untrue! Originally had an AIP with Halifax but Barratts said we couldn't use a Halifax mortgage as too many on the new builds already had mortgages going through.

    Our broker has been absolutely golden! Every day an update even if it was no new news!

    just hope it's good news next!
  • LauraH28 wrote: »
    My broker reckons it's all in check except valuation. I'm not holding out much hope don't want to be too disappointed

    Valuation happened on Fri 21st at 12pm - est agt said it was 'super quick' lol

    Still haven't had the confirmation text from Nationwide saying valuation received. Waiting on MB to get back to me with news. Can see from a few other posts here that lenders sometimes take a couple days to send that text anyways
  • Thank you, I will take a look at that.

    I sent through details of properties within 1 mile from Rightmove, the lender has responded (via the MB) that they are reviewing the info sent, but they have advised that even though the properties sent are within 1 mile (as the crow flies) they go into another district so they are not sure if they can be treated as comparables.

    There have been v.limited sales nearby in the last 6 months that match what we are buying, so it's difficult to back up the cost, if I could go back 12 months than there are more sales, at prices more than what we are paying!

    Yeah that Land Registry data is quite useful :)

    Surprised lender will only consider sales in last 6 months though. Surely 12 months is still valid? Which lender are you going with again?
    The flat we're trying to buy is in a block which hasn't had a property sold in last 12 months either and rest of properties on the street sold are houses.

    Nationwide do have a price calculator on their site, which is based on properties they've mortgaged on. Using that does shows me we should be ok, but am still waiting on news
  • LauraH28 wrote: »
    The valuation side is 1k over what we've paid so fingers crossed

    So Nationwide already came back to you with their valuation feedback? Our val done Fri, still no news yet though :(
  • JamesN
    JamesN Posts: 776
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    Didn't hear anything yesterday from Nationwide regarding our valuation which was done on the 21st so can only assume we will hear next week. Hoping it is sooner rather than later. Fed up with the suspense now!
  • LauraH28
    LauraH28 Posts: 87 Forumite
    So Nationwide already came back to you with their valuation feedback? Our val done Fri, still no news yet though :(
    Yes actually spoke to the surveyor wonder what tomorrow brings. Never wished a weekend away so much :(
  • Hi All,

    Thought I would sign up here as I am currently awaiting a mortgage offer from Principality and needed a fellow members hand to hold!

    My timeline thus far:

    12/08 - Offer accepted!
    13/08 - Instruct MA
    14/08 - MIP referred / Need to submit full application / Various docs requested
    20/08 - All docs including P60, proof of deposit sent etc
    21/08 - Mortgage commitment fee taken!

    And so the wait begins!

    Anyone have any idea of the timescales with Principality? Currently requesting a mortgage on the basis of a salary multiple of 4.4.. I take it this is close to their limit?!
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