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  • FIRST POST
    • NotSoSure
    • By NotSoSure 10th Oct 16, 10:31 AM
    • 4Posts
    • 1Thanks
    NotSoSure
    Woolwich - Mortgage Process
    • #1
    • 10th Oct 16, 10:31 AM
    Woolwich - Mortgage Process 10th Oct 16 at 10:31 AM
    Hi,

    Is anyone familiar with Woolwich mortgage proccess?

    I have submitted my full application last week and got a text on Friday to say the valuation would be completed on the same day.

    My question is do they do valuation and underwriting at the same time or does the fact they order the valuation means they considering accepting my application?
Page 1
    • Thrugelmir
    • By Thrugelmir 10th Oct 16, 11:05 AM
    • 51,277 Posts
    • 43,080 Thanks
    Thrugelmir
    • #2
    • 10th Oct 16, 11:05 AM
    • #2
    • 10th Oct 16, 11:05 AM
    Valuations are subcontracted. When they are done is more often or not done is down to to availability of a surveyor. The valuation forms part of the underwriting process. So there could be a number of strands running concurrently.
    “A man is rich who lives upon what he has. A man is poor who lives upon what is coming. A prudent man lives within his income, and saves against ‘a rainy day’.”
    • Joy_mate
    • By Joy_mate 10th Oct 16, 10:50 PM
    • 80 Posts
    • 14 Thanks
    Joy_mate
    • #3
    • 10th Oct 16, 10:50 PM
    • #3
    • 10th Oct 16, 10:50 PM
    Means they have already started working on your application. Within 2-3 days of valuation you will get acceptance text.
    Hopefully by this week you will get final text that mortgage approved. (And also contract papers to sign by next week)
    Woolwich is so quick and smooth too.
    In my case, it was 4 weeks for first time, 10 days during remortgage and one of my friends got approved in 5 days after brexit.
    Best wishes
    Last edited by Joy_mate; 10-10-2016 at 10:52 PM.
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