Mortgage Applications

sjetaylor

I am in the process of selling one property and buying another - we have a joint annual income of £100k and a £105k deposit to put downand are looking for a mrotgae of £235k

We are arragngng our mortgage through broker - Moneyquest - it has now taken over six weeks. Three weeks ago we were advise that the mortgage was approved subject to valuation we have now spent money on a valutaion and have been advised that they are still unable to provide a final decisiond. I have complained to Moneyquest but surprisingly am gettin no response.

We have now spent £600 on a homebuyers report, £99 on application fee and £300 on broker fee only to here that Lloyds TSB have yet to make their final decision

am I being fairly treated and in the cas I am not who can I complain to?

_Andy_

Presumably the mortgage itself is with C&G? If so - no surprises as their service levels are usually poor.

What have you been told is the reason for delay? Is there anything they've requested that you haven't sent in to C&G?

TheGreatBear

This is a lloyds TSB scotland application, and no this is not unusual.

They are insanely slow at the moment and there is nothing the broker can do to speed things up. Believe me, i have added to my rapidly growing number of grey hairs, through dealings with them.

good luck though

P.S They have just brought out new rates so i would check with your broker to see if something can be done

minimike2

I thoguht Money Quest had gone under?

sjetaylor

Moneyquest assure me that they are the largest mortgage broker in the country and pride themselves on excellent service - NO EVIDENCE SO FAR

I am somewhat confused who my mortgage is with as both Lloyds TSB and C&G have registered credit searches against our property. All additional information has been provided within hours of the request - the delay they say is because they OVERLOOKED at our application (????)

Barclays have already agreed to provide us with a mortgage but unfortunately because we changed the property we wished to purchase as a result of a poor survey, they ulled the rate of 5.2% and can now only offer us 6.79% - no comparison really. As a result of this we know our credit is good.

This is all so frustrating as it looks like we will have to sell my property and now move into rented accommodation or risk losing the buyer for our property - god idea or not??