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Kensington Mortgages application advise mgxeab

Posted: Fri Mar 10, 2017 11:31 pm
by athelstan
We are in week 3 of our application and provided all outstanding documents and answers to questions.



Does Kensington conduct an onsite visit (valuation fee paid 450) and will the broker know about it? Or do they conduct the valuation and we only hear back when they have an offer?



Also, my adverse credit history is 6 years and over. So far we have had credit checks done and no queries. Documentation also all provided. Our personal affordability is also above average. Under the circumstances only valuation left which could impact our application success or could there be any other issues? Many thanks

Posted: Sat Mar 11, 2017 7:27 am
by aright
Why did you pick Kensington?

Posted: Sat Mar 11, 2017 4:58 pm
by convergent
Why have you applied to kensington for adverse over 6 years old?



The last time I used Kensington, they instructed the val after the underwriting was complete.

Posted: Sat Mar 11, 2017 10:51 pm
by athelstan
The 6 year period completed in Dec 2016 and Feb 2017 - we applied through a broker in Nov 2016, so these were still on the file. And our broker said the dates still need to be fed into the system which meant that Kensington was our only choice. Of course in 2 years time we will be in a much improved and hopefully clear from adverse history so will broaden our search.



Thank you for the replies. My question was that I am assuming the broker doesn't hear about the valuation? And also as long as valuation is fine, we should be all good to go?

Posted: Sun Mar 12, 2017 11:47 am
by convergent
I am still not sure Kensington were the best shout for a 5 year old default, seems a little overkill.



You would find out if the valuation was ok when the offer is issued. The broker can chase beforehand, best to leave it 24-48 hours after it gets carried out.

Posted: Sun Mar 12, 2017 5:26 pm
by athelstan
Cheers. Yep I know, but I actually got the same results from about 3 different brokers so maybe there is some reason behind it.