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  • rinkydinkpanther
    • #2
    • 18th Apr 11, 4:13 PM
    • #2
    • 18th Apr 11, 4:13 PM
    I got notification on Monday last week that my current lender wouldn't lend on the house I wanted to buy (non-standard construction).

    Spoke to broker on Monday who advised that Abbey would be a potential lender. Sent him details of our salary/outgoings etc information on Tuesday morning. Got a call Tuesday afternoon to say we had been approved for fast track application. Dropped in copies of documentation and ID to broker on Wednesday, got call to say underwriters had approved application and instructed valuation first thing on Thursday morning. Valuation survey should have been done today.

    So seems pretty quick from where I'm sitting...
  • kidcat
    • #3
    • 18th Apr 11, 5:11 PM
    • #3
    • 18th Apr 11, 5:11 PM
    We are buying our first house and Abbey have been very quick -there was the usual document request and stuff but valuation was instructed only ten days after application. Any delays have been from our sde with the vendor not being good at allowing valuation.


  • danjo1
    • #4
    • 3rd May 11, 1:55 PM
    • #4
    • 3rd May 11, 1:55 PM
    We completed our application with the Abbey early March, additional payslips/bank statements provided early April and we are still waiting for our survey to be carried out which is now delaying our chain considerably. Ours has gone very slow but not sure how much is down to Abbey and how much is down to our Mortgage advisor... Very frustrated right now!
  • tedglen3
    • #5
    • 3rd May 11, 2:06 PM
    • #5
    • 3rd May 11, 2:06 PM
    hi there, just to update - the whole application and survery took approx a week. very happy. now just waiting for searches and hopefully exchange next week
  • tomellingham
    • #6
    • 4th May 11, 11:55 AM
    • #6
    • 4th May 11, 11:55 AM
    I find Abbey are generally quite quick in terms of processing. I've been watching my mortgage application progress step by step on the Abbey for Intermediaries website. Generally when something is sent to the Underwriter it is processed within a day.

    Having a torid time with my application though. Was originally made on 24th Feb, valuation instructed on 16th March but was then down-valued. Have appealed valuation which took two weeks as there was a mix up in sending the documents. Appeal failed and now the house builder is paying for another valuation, so maybe another week before I hear back about that. Doubt I will have everything sorted, be it an agreement for a mortgage or pull out of the process by the end of May.
  • laural
    • #7
    • 4th May 11, 6:24 PM
    • #7
    • 4th May 11, 6:24 PM
    We put a full mortgage application through on April 21st and we were told they had arrange a valuation survey yesterday so should get a formal offer in next couple days if all goes ok. Obv slowed down a bit because of bank holidays. I would say very speedy at the moment!
  • Shinkansen
    • #8
    • 5th May 11, 12:23 AM
    • #8
    • 5th May 11, 12:23 AM
    Abbey are absolutely rubbish.

    First time buyer here, should be looking after me really? Nope. I have just finished my three-page complaint letter which I will also be CC'ing to the FSO.

    Applied 24th Feb. Abbey said they couldnt read the scan/prints of my payslips, yet they can read the scan/prints of everything else including my handwritten application form! Originals sent to Abbey.

    March 24th - Offer and valuation arrive. Valuation states TWO bedroom apartment. Wrong. I'm buying a ONE bedroom apartment. Rang Abbey, advised by telesales to "just sign it" as "it won't affect the numbers". Is this standard practice?! Advised girl I would ring her back thanks. Rang mortgage advisor, rightly advised to ring back Abbey and get this corrected pronto. Abbey say they will reissue a corrected valuation and mortgage offer and would take 3-5 working days.

    Three weeks later (we were still experiencing backlogged post from Xmas and ice/snow at this point) and nothing has arrived. Received emails and calls from solicitor/mortgage advisor. Turns out that my solicitor contacted Abbey herself and they decided NOT to reissue my valuation, just write a letter of validation to acknowledge their own cockup.

    This letter of validation has not yet emerged.

    So, to date (4th May 2011) I still have NO SATISFACTORY MORTGAGE OFFER. This is 10 weeks and fast approaching a quarter of a year.

    I am a first time homebuyer. I am going through the old HomeBuy Direct Govt scheme. I am also a teacher and had arranged LOTS of things to assist me to move during the Easter holidays, as originally estimated given the three-five working day correction time frame. I was not notified this had changed.

    I am now going to be forced to move during term-time, during one of the most stressful and hectic periods known to education... the summer examination term.

    What shocks me more is that I am in NO CHAIN and this property has been sat EMPTY since it's construction in 2010.

    Sorry. Vent over. Had to be done. I'm demanding the waiving of fees as some form of compensation, as if there ever WAS as a case study of just how Abbey/Santander can balls up a home-purchase, this is it. ALL delays have come from their end. I could probably have done a better job on my first week on the job!

    Unfortunately the sad truth is they have some of the best products out for individuals like myself.

    I'll keep you all updated.
  • Riq
    • #9
    • 6th May 11, 1:35 PM
    • #9
    • 6th May 11, 1:35 PM
    My mortgage app is with the underwriters, went yesterday.

    I am guessing they will arrange a survey before I hear a decision?
    "I'm not from around here, I have my own customs"
    For confirmation: No, I'm not a 40 year old woman, I'm a 26 year old bloke!
  • kingstreet
    My mortgage app is with the underwriters, went yesterday.

    I am guessing they will arrange a survey before I hear a decision?
    Originally posted by Riq
    No. You'll get an accept or decline decision if it's gone to underwriting. Then they'll instruct the valuer.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-on-one-advice, or representation
  • kingstreet
    Abbey are absolutely rubbish.

    First time buyer here, should be looking after me really? Nope. I have just finished my three-page complaint letter which I will also be CC'ing to the FSO.

    Applied 24th Feb. Abbey said they couldnt read the scan/prints of my payslips, yet they can read the scan/prints of everything else including my handwritten application form! Originals sent to Abbey.

    March 24th - Offer and valuation arrive. Valuation states TWO bedroom apartment. Wrong. I'm buying a ONE bedroom apartment. Rang Abbey, advised by telesales to "just sign it" as "it won't affect the numbers". Is this standard practice?! Advised girl I would ring her back thanks. Rang mortgage advisor, rightly advised to ring back Abbey and get this corrected pronto. Abbey say they will reissue a corrected valuation and mortgage offer and would take 3-5 working days.

    Three weeks later (we were still experiencing backlogged post from Xmas and ice/snow at this point) and nothing has arrived. Received emails and calls from solicitor/mortgage advisor. Turns out that my solicitor contacted Abbey herself and they decided NOT to reissue my valuation, just write a letter of validation to acknowledge their own cockup.

    This letter of validation has not yet emerged.

    So, to date (4th May 2011) I still have NO SATISFACTORY MORTGAGE OFFER. This is 10 weeks and fast approaching a quarter of a year.

    I am a first time homebuyer. I am going through the old HomeBuy Direct Govt scheme. I am also a teacher and had arranged LOTS of things to assist me to move during the Easter holidays, as originally estimated given the three-five working day correction time frame. I was not notified this had changed.

    I am now going to be forced to move during term-time, during one of the most stressful and hectic periods known to education... the summer examination term.

    What shocks me more is that I am in NO CHAIN and this property has been sat EMPTY since it's construction in 2010.

    Sorry. Vent over. Had to be done. I'm demanding the waiving of fees as some form of compensation, as if there ever WAS as a case study of just how Abbey/Santander can balls up a home-purchase, this is it. ALL delays have come from their end. I could probably have done a better job on my first week on the job!

    Unfortunately the sad truth is they have some of the best products out for individuals like myself.

    I'll keep you all updated.
    Originally posted by Shinkansen
    Your adviser should have taken responsibility for all this, IMHO. The minute my clients start ringing the lender direct I'll know I'm not doing my job properly.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-on-one-advice, or representation
  • GMS
    Your adviser should have taken responsibility for all this, IMHO. The minute my clients start ringing the lender direct I'll know I'm not doing my job properly.
    Originally posted by kingstreet
    Agree 100%. No way should a client ever need to contact a lender when an adviser is handling the application.

    Is there an issue with the Homebuy scheme? Also it will be classed as a new build flat which will not help matters.

    That aside it is not your responsibility to chase if it is a broker application.

    Unless you mean an 'adviser' from Abbey?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Riq
    No. You'll get an accept or decline decision if it's gone to underwriting. Then they'll instruct the valuer.
    Originally posted by kingstreet
    Excellent. Are we talking days or weeks for a decision do you know?

    Suppose it depends on workload to be fair.
    "I'm not from around here, I have my own customs"
    For confirmation: No, I'm not a 40 year old woman, I'm a 26 year old bloke!
  • kingstreet
    Excellent. Are we talking days or weeks for a decision do you know?

    Suppose it depends on workload to be fair.
    Originally posted by Riq
    It depends on the case and the workload. Depending on the issue, they might come back to ask for more documentation. Hopefully, you'll just get an acceptance and off it will go for valuation.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-on-one-advice, or representation
  • Shinkansen
    No, it was an Independent Mortgage Advisor. I have to use one as part of the terms of the HomeBuy scheme. I agree with you totally.

    My solicitor obviously lost her rag waiting and contacted Santander directly. They tried to tell her they faxed her a new VALUATION (not a letter of variance) on the 19th April. Obviously this never ocurred. The next day (6th May) it magically appeared out of their fax machine. Hallelujiah. Probably only 2 weeks till completion and just the 10 weeks of delay so far.

    Absolutely disgusted. Massive complaint letter faxed off and CC'd to the Financial Ombudsman.
  • Jonesy89
    Ours has been very quick!

    Valuation was done within a week of applying offer through the door within 4 working days!

    Fingers crossed everything else runs as smooth!!
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