Hi all,
Just wondered if anyone could share their experience of applying for a mortgage. We applied at the beginning of July (through a specialist adverse credit broker) We had a couple of questions come back from the underwriter and they advised they would need the credit committee to approve the application,based on the level of adverse credit. Two weeks later and the broker messaged me to say they had instructed the valuation. Valuation came back at the same price we had offered at. Broker advises the report will need to be assessed and it should be done by next Wednesday.
So now I'm just wondering, does this sound promising? Do lenders normally instruct a valuation if they didn't like your credit file/documents e.t.c? They have run some credit checks on us last month - I saw them on my credit report. So is it safe to assume they are happy enough at this point and will just do some final underwriting checks before giving us an offer?
It's been about 5/6 weeks since we applied and I'm itching to get the solicitors on with the searches, but am not doing so until we know we have a mortgage offer (!)
What are your thoughts? Has anyone else been in the same boat? Our mortgage lender is called "The Mortgage Lender" & they are special broker-only lenders for the adverse credit market..... has anyone managed to apply successfully with them?
Sorry for all the questions !! Just would make me feel better if there was someone out there who knows about this stuff!