Anyone dealt with Clydesdale Bank recently?

We are currently going through a broker for a Clydesdale application. It is painfully slow and we are concerned.

We submitted the full application in Mid Jan and the valuation was instructed within 24 hours, they then accepted it within a week and requested my employment contract around 2.5 weeks ago (I!!!8217;m Fixed term with a renewal) they then a summery of my employment for the last few years and previous two P60!!!8217;s again, these were provided just under two weeks ago and then nothing. Broker is chasing, updates are the status is the application is being assessed and no news is good news and they are slow. He says the next step is to proceed for final approval - is this normal?

They done two hard credit searches too, on the 12th and 16th Feb.

Did you get your offer?

Hello we are also dealing with Clydesdale via a broker. We received a text message on 26/4 staying out offer was accepted. Can anyone tell me how long it took to receive the offer in the post? We were told 48 hours- sellers solicitor wants documents by Thursday so hoping before then.

Jmant69 wrote: »

After a week of waiting for a final decision from the completion department Clydesdale have said "We promise to provide an update by close of business today". We've had this response from the Clydesdale completion department on three separate days now. It's been another week since they first said it and still no response. It would be encouraging to hear if anyone has been in a similar situation and has eventually received a positive response. Desperate to exchange contracts now and this just seems like such a straight forward part of the process so very frustrated by the delay and by these weird lies about responding by close of business! Has anyone had a positive outcome and how long did it take?

How did you Clydesdale application come out in the end?
I have had my application in for 40 days and have been told on numerous occasions it will be signed off by close of business today.
That has been happening now for nearly 2 weeks.
Did they finally manage to make you an offer?

’m need of some help!

Me and my partner have applied for a mortgage with the Clydesdale Bank. The initial advice and recommendation was last Monday and that was all fine and affordability checks were fine. It had to go to an underwriter due to the stress test resulting in the affordability being an issue. The credit check person (apologies I don’t know their exact role) came back saying it was a decline. Affordability was fine, but it was the fact that we’d recently done a balance transfer each to 0% credit cards and I had recently taken a loan the month prior and they thought we were living above our means. I then explained that we only did this to lower our outgoings in preparation for the mortgage and they agreed that if we cleared 2 smaller credit cards, so just to leave 2 balance transfer cards, 1 loan and a car lease and we went for a 5 year fixed instead of a 3 years then it was approved.

The valuation has now come back and it’s all fine and the adviser has passed it to the ‘processing team’. She’s requested our last 2 payslips each, evidence of deposit and for us to complete and return the KFI and direct debit mandate. She hasn’t asked for bank statements at all, and even when I offered, she said I didn’t need to.

I’m really nervous as I’m just a natural worrier, but also we have agreed a great price for the house due to being FTB and being able to move quickly, so if Clydesdale decline us and we have to start again the we may lose the house.

What are the potential reasons we could be declinedv we’re after a 95% LTV and the deposit is a gift from my partners mum, however they haven’t asked for source of deposit, only evidence of it. Could this result in a decline?

Will this ‘processing team’ be requesting bank statements from me?

My partners last 2 payslips make it look like she’s only been there 2 months (due to her year to date earnings), but she’s actually been there a year, only 10 months of that was via an agency and she went permanent in August. I can evidence this, but I don’t know if all of these things combined will result in a decline?

Our bank statements will show is spending a lot more on food and socialising than we intend to spend once we get the mortgage, and the only reason we overspend on these things is due to the fact we don’t have a mortgage so we have the spare disposable - could this result in a decline due to them thinking we live above our means, even though this isn’t how we’d live once we have the mortgage?

Any answers to the above would be appreciated!