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  • FIRST POST
    • Bunneroo
    • By Bunneroo 10th Mar 17, 5:22 AM
    • 4Posts
    • 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 16
    • bronzebomber
    • By bronzebomber 13th Feb 19, 6:42 PM
    • 5 Posts
    • 0 Thanks
    bronzebomber
    Must say I was very impressed with Kensington with our house purchase. All our delays were down to our solicitor taking so long with the searches.

    We had an AIP from aldemore originally so had an offer accepted on a house end of October but then alder more rejected the full application so our broker quickly got it sorted with Kensington , worked out well as the interest rate was about the same and Kensington gave us a free valuation so got £370 refund from aldermore.

    They never asked for much apart from the usual bank statements and payslips , they only queried my student loan that I never declared on the application under credit commitments as after 10 years of leaving uni I forgot I was even paying as it comes out my wages before I get them - I did find out I've only got less than a year left before it's all paid off so that was a nice bonus and they didn't have a problem with it

    31st Oct - AIP and full application to Kensington
    6th Nov - Valuation completed - our broker was away then so never let us know valuation had even been issued
    7th Nov - mortgage offer issued
    12th Nov - Solicitor requested searches
    Nothing happened for weeks and loads of chasing over xmas until January .
    7th Jan - searches completed completion date arranged
    1st Feb - Completion
    • lumpyspaceprincess
    • By lumpyspaceprincess 9th Mar 19, 9:13 PM
    • 147 Posts
    • 287 Thanks
    lumpyspaceprincess
    We've just submitted an application via our broker to Kensington on 08/03, following a DIP on the 4th. Let's see how long it takes for us to get our offer, varied stories for everyone else!
    ¤ £25k paid off with Stepchange DMP ¤ Debt Free 01/09/17 ¤
    ¤ Saving for a house deposit by '19 ¤ Savs @ £16400 ¤


    • lumpyspaceprincess
    • By lumpyspaceprincess 21st Mar 19, 4:58 PM
    • 147 Posts
    • 287 Thanks
    lumpyspaceprincess
    20/03 - Survey happened, so the EA took the house off as SSTC and is sending the pack. Yay
    21/03 - Kensington request more bank statements to prove deposit source, also the surveyor thinks they've seen damp so we've been asked to arrange a Damp and Timber survey ASAP.
    We live in a damp rental now and haven't noticed any of the usual signs there, so hopefully this won't pop anything up. D&T report should take place next Weds. So £200 down and fingers crossed. Once this is in if all OK current SLA for Kensington is apparently 2 working days for underwriting.
    ¤ £25k paid off with Stepchange DMP ¤ Debt Free 01/09/17 ¤
    ¤ Saving for a house deposit by '19 ¤ Savs @ £16400 ¤


    • lumpyspaceprincess
    • By lumpyspaceprincess 2nd Apr 19, 3:54 PM
    • 147 Posts
    • 287 Thanks
    lumpyspaceprincess
    We've had our damp and timber report back and uploaded to Kensington, some work identified on there, should have an answer within a few days. Broker thinks it might be subject to the work being done within 6 months, which we could do - fingers crossed!
    ¤ £25k paid off with Stepchange DMP ¤ Debt Free 01/09/17 ¤
    ¤ Saving for a house deposit by '19 ¤ Savs @ £16400 ¤


    • onthemend88
    • By onthemend88 3rd Apr 19, 7:32 AM
    • 17 Posts
    • 5 Thanks
    onthemend88
    Hi everyone

    We were initially looking at getting a mortgage in 2020 however, we have done really well with saving over the last year and have at least a 10% deposit on up to a £250,000 property.

    We have spoken to a mortgage advisor and due to previous adverse credit, have been told that we will should be able to get an AIP with a 90% LTV from Kensington in July 2019.

    I have been reading that they require a LOT of paperwork and would like to try and prepare for this for when we are able to apply.

    We are both full time employed with the NHS and understand that we will need 3 months wage slips, 3 months bank statements, proof of ID and proof of address, proof of deposit, P60?

    What other information/documentation will be required for a company like Kensington?

    We have paid all of our debt off over the last year as well - would they require proof of this as I can start getting this information from our creditors now.
    Last edited by onthemend88; 03-04-2019 at 7:34 AM.
    • anfieldred
    • By anfieldred 3rd Apr 19, 9:42 AM
    • 247 Posts
    • 2,653 Thanks
    anfieldred
    Depends on your circumstances really. I was asked for:

    4 months payslips
    4 months bank statements (although, both of these were because we applied 3-4 months before my existing mortgage deal ended)
    3 year's employment history (just names, addresses of companies)
    Passport, proof of address
    Letter explaining adverse credit - how/why got into it, what steps have you taken to avoid it happening again (in my case, it was remortgaging to clear some debt).

    I think there's a few people further back in this thread that had to do a letter too. If you're both full time employed it might be a bit more straightforward, but just prepare for it being a slow process.
    • lumpyspaceprincess
    • By lumpyspaceprincess 3rd Apr 19, 11:38 AM
    • 147 Posts
    • 287 Thanks
    lumpyspaceprincess
    I had to do a letter explaining how I got the adverse also, we provided broker with one payslip for me 3 for my partner, 3 month bank statements, p60s for 2 years and then passport /licence for ID.
    ¤ £25k paid off with Stepchange DMP ¤ Debt Free 01/09/17 ¤
    ¤ Saving for a house deposit by '19 ¤ Savs @ £16400 ¤


    • Emma1987
    • By Emma1987 6th Apr 19, 6:10 AM
    • 1 Posts
    • 0 Thanks
    Emma1987
    Morning. I dont know if anyone will be able to help but I’ve had my mortgage offer from Kensington on Wednesday but my broker emailed yesterday
    Kensington, just need to see confirmation of these payments in order for them to proceed. I know this may be a little confusing for you with them already issuing your mortgage however there are several departments and final checks that need to be carried out before everything is final. Please rest assured that this is nothing to worry about and that once they have the information they require then everything can proceed.
    . Has this happened to anyone else?
    • Kelda1
    • By Kelda1 6th Apr 19, 11:03 AM
    • 3 Posts
    • 0 Thanks
    Kelda1
    We are waiting to see if we get offer with Kensington been through AIP all docs submitted, then more docs asked for - sent them now waiting. What payments do they want confirmation of in order to proceed ?
    • Chrisrts
    • By Chrisrts 10th Apr 19, 7:43 PM
    • 1 Posts
    • 0 Thanks
    Chrisrts
    Evening everyone
    Got declined mortgage application from main stream banks due to poor credit on my partners side so applied with kensington, up to now its been 10 days give or take, credit checks and DIP accepted after 2 days, they asked for us to fill out the direct debit mandate and send over more paperwork.. just the usual p60s etc etc. Nothing out of the ordinary really..

    Everything seems to be on track as after 5 days all documents had been ‘satisfied’ by the underwriter.. spoke to my broker today and he tells me they have now instructed the valuation on the property...

    The question that im woundering is if the valuation goes well is there really anything that can go wrong at this point? We are first time buyers and this is all new to us... i would never have thought it would be this stressful

    Any replies thankyou so much!!

    For the people in this thread who have posted previously thankyou! Helped lower stress levels knowing abit more about how kensington operates
    • DougalG1
    • By DougalG1 11th Apr 19, 5:25 PM
    • 2 Posts
    • 0 Thanks
    DougalG1
    We got declined by a high street bank due to my husbands previous credit although all clear now and no late payments or defaults.

    We received DIP 09/04/19
    Full application made 10/04/19
    Further docs requested 11/04/19 ( P60’s, 3 months bank statements, proof of deposit and landlords name, address and phone number)
    Just a waiting game now......

    We reserved a plot last month on a new build and had originally agreed to exchange on the 12/04/19 and complete in May. Feeling anxious that we will miss out on the property as we have not secured a mortgage offer in time. Especially when I’m reading the timescales that Kensington work to.
    • lumpyspaceprincess
    • By lumpyspaceprincess 11th Apr 19, 7:52 PM
    • 147 Posts
    • 287 Thanks
    lumpyspaceprincess
    Our valuation came back from Kensington and they downvalued by 5k due to work needed (that we don't think is immediately essential

    We've gone back & negotiated to split the difference, and hope to have our offer within the week following it hitting the underwriters again. I'm convinced that if we hadn't had the specialist survey required it would have been a pretty fast process tbh.

    So back holding our breath, and seeing what happens next!
    ¤ £25k paid off with Stepchange DMP ¤ Debt Free 01/09/17 ¤
    ¤ Saving for a house deposit by '19 ¤ Savs @ £16400 ¤


    • jasperconran
    • By jasperconran 15th Apr 19, 2:38 PM
    • 652 Posts
    • 1,149 Thanks
    jasperconran
    Thought I would join in as we are super stressed!! we got our DIP end of feb full application went in late on friday 1st March. initially Kensington came back with a mortgage offer fairly quickly, but it was for £46K less!! I thought I was gonna pass out!!

    Although our credit reports have repaired amazingly over the last 6 months our broker advised kensington was still our best bet. so............our accountant had to do a full set of accounts for last 10 months, so 5 days lost there. Kensington said draft account figures passed their affordability calculator thing and said so long as the credit searches pass (again!!!) the redip should pass. we then lost another week as had to wait for my accountant to be able to submit hubbys tax return and then wait a further 3 days for the return to be available to download so if I take out the weeks/days missed I guess its been about 5 weeks so far.

    Spoke to broker on friday who advised that credit checks etc have passed ( I knew this), he said the process now is that the underwriter just has to double check the figures, this is normal process and our case is just sat in the queue waiting to be looked at.

    I have been pressing our broker about a valuation as we have paid £330 for one but he keeps saying that Kensington wont do it until the offer has been released.

    Ok I forgot to mention about two weeks ago, we got told we had got the mortgage we wanted,for the amount we wanted, just not been released yet. aaarrgghhhhhhhhh............the stress is driving me insane.

    Im now trying so hard not to think about it, but its upsetting. we just want a new life/start.

    but from reading the posts on here, it would appear that 5 weeks plus is the norm!!!
    LBM: April 2009 - honest debt figure: Secured: £0.00!! (paid back april 2017) unsecured: £53117.48 (roughly) back with CCCS starting again
    • jasperconran
    • By jasperconran 15th Apr 19, 6:35 PM
    • 652 Posts
    • 1,149 Thanks
    jasperconran
    soooooooooooo update! My broker emailed me this afternoon, was really hoping it would be our offer!! but no kensington had come back to him with about 5/6 questions they wanted answering

    rang our broker in a blind panic lol. but he said look dont panic its just standard as its been a good 5/6 weeks since the original application (whose fault is that lol) they just need to tick their boxes. I mean for real?!

    we are now just hoping and praying that this is it!!! I would like to think that they have accepted the figures and that this is the last bit of the puzzle. I hope so. my nerves are shot!
    LBM: April 2009 - honest debt figure: Secured: £0.00!! (paid back april 2017) unsecured: £53117.48 (roughly) back with CCCS starting again
    • lumpyspaceprincess
    • By lumpyspaceprincess 16th Apr 19, 8:22 AM
    • 147 Posts
    • 287 Thanks
    lumpyspaceprincess
    Our broker got back in touch and all is well, they just need proof of the deposit since we're increasing it slightly - so now we're working out how to prove before my next bank statement early May! Don't wanna wait that long for offer
    ¤ £25k paid off with Stepchange DMP ¤ Debt Free 01/09/17 ¤
    ¤ Saving for a house deposit by '19 ¤ Savs @ £16400 ¤


    • lumpyspaceprincess
    • By lumpyspaceprincess 17th Apr 19, 1:43 PM
    • 147 Posts
    • 287 Thanks
    lumpyspaceprincess
    Just heard from our broker that Kensington are issuing our mortgage offer today ����
    ¤ £25k paid off with Stepchange DMP ¤ Debt Free 01/09/17 ¤
    ¤ Saving for a house deposit by '19 ¤ Savs @ £16400 ¤


    • anfieldred
    • By anfieldred 17th Apr 19, 1:51 PM
    • 247 Posts
    • 2,653 Thanks
    anfieldred
    Just heard from our broker that Kensington are issuing our mortgage offer today ����
    Originally posted by lumpyspaceprincess
    Well done! celebrate this weekend
    • lumpyspaceprincess
    • By lumpyspaceprincess 17th Apr 19, 2:01 PM
    • 147 Posts
    • 287 Thanks
    lumpyspaceprincess
    Perfect timing with my finishing a course of antibiotics, there's definitely wine in my future!
    ¤ £25k paid off with Stepchange DMP ¤ Debt Free 01/09/17 ¤
    ¤ Saving for a house deposit by '19 ¤ Savs @ £16400 ¤


    • jasperconran
    • By jasperconran 18th Apr 19, 11:06 AM
    • 652 Posts
    • 1,149 Thanks
    jasperconran
    well done gang!!

    Kensington have come back with yet ANOTHER question! arrggghhhhhh driving me mad lol. we can afford this mortgage twice over!

    My broker told me today that there is no way we will have an offer by Wednesday,due to the bank holiday weekend so ive had to contact my estate agent and solicitor and ask for an extension we are in the best financial position we have ever been in. not come back to me yet

    This is soooooooo annoying as this is gonna be the longest weekend of my life Kensington are happy with all figures etc and we have passed affordability and credit checks. so to still have no offer is killing us both now.

    I hope my gut feelings are wrong here and that Kensington are not giving us all the right royal runaround!!!!
    LBM: April 2009 - honest debt figure: Secured: £0.00!! (paid back april 2017) unsecured: £53117.48 (roughly) back with CCCS starting again
    • FTB_2019
    • By FTB_2019 24th Apr 19, 7:17 PM
    • 1 Posts
    • 0 Thanks
    FTB_2019
    Followed this thread for a while and first time posting today

    Spoke to our broker earlier today who tells me Kensington wanted the address for my wife’s place of work (was questioned why it was different from her payslips, as they are head office)

    He said that once they had this the application would go for final review before an offer.

    Anyone any experience of this? Is this positive and what sort of timescale are we are from an offer, I can’t deal with many more sleepless nights ��
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