Anyone else waiting on a mortgage decision?

[AGreatUsername]

I’m so anxious! Hopefully for no good reason but you know, I think it’s normal. I can’t sleep!

We have a AIP and full application went on Monday, no update yet and they didn’t even acknowledge receipt until Wednesday despite “product reservation” text being sent out on Monday. No call to valuation yet and as of yesterday no update on the portal according to the MA. Their own timeline says they’re way faster than this!

The stress level is insane! Especially as our buyers application seems to be flying along, and our vendor is putting pressure on to see progress 😭

Hopeful bump. Lenders contacted broker yesterday querying something that is actually already answered in the paperwork they have which is annoying. So a whole weekend to wait now until we get any progress. I’m so worried we’ll get rejected, even though I know there’s no reason we would. We already have a mortgage with them, good credit etc etc. Just standard panic mode I think!

I got mine! As long as your broker has done a thorough job you should be fine!

We have an agreement in principle and just had an offer accepted yesterday afternoon. Now I'm stressing that something will go wrong with the actual mortgage application. Rationally I know it should be fine and we are looking to borrow less than the maximum amount so it should be ok but like you I can't help worrying.

@snaxinyourslacks exactly how I feel. We are asking for 50k less than they said on the AIP. It doesn’t help that our lender are running slower than their own timescales so adding to the stress. But I think possibly they do underwriting first and then valuation after that’s passed....fingers crossed for a positive week for us!

@AGreatUsername I'm sure everything will go smoothly for you. We are asking for £30k less than the maximum that they would give us, but as first time buyers I'm still nervous and I don't know how it all works really. Also doesn't help that this all happened yesterday afternoon so have to wait until Monday to speak to the broker and go ahead with the application

I'm waiting too... I've been told it can take 1-2 months which is way too long!
I don't understand why it takes so long now we can do everything electronically - I used a broker and it's pretty straight forward so hopefully it will be more like 1 month.

From the threads I’ve seen on MSE most seem to be 2-3 weeks. I’m not sure now whether to pay the solicitor to start searches this week or wait?!

Who is the Lender? Some are a lot quicker than others. I'm sure it will all be fine

Nationwide for us. We are porting (I think that’s what it’s called) our existing mortgage and adding more on top. I’m so hoping for a step forward tomorrow but I’m just living on fear and dread at the moment, hopefully for no reason!

Well I’m having a nightmare with this. Nationwide have come back and said that as the childcare cost is still on the tax credits they won’t lend enough. 😭. It’s finished, my LO finished nursery mid December and is now under the 30-hours-free offer. The end date is clearly marked in the tax credits statement so I’m hoping my MA can argue that, otherwise it’s all going to fall apart. I’m so upset.

I'm so sorry to hear that. Hopefully you have a shit hot MA who can argue that. What a nightmare!

She’s gone back and argued it with them. It all ties in, his DOB, the final nursery payment out of our account being in November, the end date on tax credits being mid December etc. I’ve also forwarded on the acceptance email from the council confirming the offer so I’m hoping that will be enough. It’s gone to the underwriter to look at so we will see I guess. Absolutely wracked with nerves now.

Good luck OP!

Have they come back to you yet OP?