Adverse Credit Mortgage, application has gone to the underwriters

[BoredAtWork1000]

Hi,
Don't know if this is the right place to post this, but I'm in need of a cathartic-type post (!)
My partner and I both have poor credit ratings and a couple of defaults on each of our credit file for various reasons, where real life kind of messed me up and scuppered a lot of things for me. Not making excuses, but I have grown up a lot since then. No more burying head in sand. My defaults are higher than his, but I did a DMP and settled it as of December last year. As of December last year I became officially debt free! Yayyyy :)
So fast forward to now and I have been very lucky enough to be gifted with a large sum of money from a relative and instantly wanted to put this towards a house for me, my partner and our baby girl.
We went to an adverse credit broker who obtained us an agreement in principle, which I was thrilled with, because I never thought we could get that far. We have been open and honest about all of our adverse credit and our bank statements show that we have plenty of money in the bank (over a month's buffer wage-wise).
Now the mortgage has gone to the underwriter, which I expected. They came back to our broker today to ask for some more documentation around our P60's, the last month's bank statement copies and letters of explanation for the defaults on our file.

The broker said candidly upon submitting our application that he wouldn't be submitting it if he didn't think it would be a success because they don't get paid their full fee until we receive a mortgage offer.

I am just so nervous and worried that something is wrong for the underwriter to ask for more information. I have a tendency to overthink things and always imagine the worst case scenario as that's how I cope when things go wrong. It also doesn't help that we have put an offer in and been accepted for the house of our dreams :(

Sorry for the long rambling post. I think I just needed a place to vent. I am such an anxious person to begin with and find myself over-analysing all the words in our broker's e-mails back to us. Gaaaaaahhhhhhhh !!!!

Trust your broker.

Perfectly normal for underwriters to request additional information.

If your broker specialises in adverse, has looked at your credit files and placed you with a suitable lender then you should have no issues.

There are people that get accepted who have a lot more adverse credit issues than yourselves.

What @scolesfan said. I'm A mortgage broker (although have never dealt with adverse credit) and I'm sure your broker had already looked at where best to place your case. He would probably have already ran your case past an underwriter before submitting it & now the underwriter is just dotting i's & crossing t's. Dont stress.

Thank you both for your replies! They have made me feel a lot better, Have sent the remaining documentation off this morning. I am an anxious/pessimistic person by nature and it is hell!

Really hope my broker is on top of these things, he has been through our documents before submitting the application. They have taken the application fee and valuation fee out of my account - they did so on the day the application was submitted, and it hasn't been refunded. Just hoping against hope that they give us a chance :)

As others have said, don’t worry about the additional questions. I’m going through the process of applying for a mortgage at the moment too and the bank underwriter also asked extra questions. All due to be approved today apparently!

We're also going through mortgage application stress op, so I'm feeling your pain with you! Our situation is a bit different is that we have great credit ratings, but lowish incomes with not much of a buffer and a fair bit of debt. Also I am self employed. We have also been asked for extra documentation. It's all unbearably slow, there was an error on one of the HMRC documents and they will only post out the corrected version 2nd class, it could take up to two weeks apparently!! Argghh!!

I can't even think about our potential house in case of disappointment, I've been checking out rentals, the uncertainty is doing my head in!

@GherkinTherapy, I know, handhold as we go through this! I hope you get some great news soon!

What makes it worse is my partner is the most laidback person I ever met. So I'm lying there in bed worrying myself sick and he's snoring away!

Our broker called us yesterday and said try not to worry. So I'm trying to forget about it this weekend :) I guess everyone is right, the broker knows what they are doing :)

Yes, fingers crossed for both of us!