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Mortgage agreement taking an age - any ideas?
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HJH07
Posts: 33 Forumite
We have had an offer accepted on a house. The agreement in principle was already in place for a mortgage with the Nationwide which we had organised with our broker. We then applied proper for the mortgage but it seems to be taking an absolute age to process. The valuation has been done (on Monday) but we have not been able to get any information from the Nationwide or our broker about the progress of the application. We had a call on Tuesday asking some questions about some outgoings we had listed but nothing since.
We were told two weeks ago that our application should take 48 hours - it has now been way over this but we can't seem to get anywhere.
Does anyone have any ideas on how to get some answers from our broker or the Nationwide - we tried calling the Nationwide but it was just the call centre staff.
We are concerned because the amount we are asking to borrow is quite high (£143k), however we have an A1 credit history, only one credit card and a good LTV with over £80K in equity.
Are we just worrying - they do seem genuinely busy or is the delay not good.
We were told two weeks ago that our application should take 48 hours - it has now been way over this but we can't seem to get anywhere.
Does anyone have any ideas on how to get some answers from our broker or the Nationwide - we tried calling the Nationwide but it was just the call centre staff.
We are concerned because the amount we are asking to borrow is quite high (£143k), however we have an A1 credit history, only one credit card and a good LTV with over £80K in equity.
Are we just worrying - they do seem genuinely busy or is the delay not good.
0
Comments
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Nationwide are very busy at moment, the fact you have had the survey done is good news, so wait and chase your broker.
Due to downturn in market they have closed a number of branches.
Chill..0 -
Thanks Unite79! That's just what we wanted to hear. We were happy that the survey has been done and hopefully it is a good sign.
Going away this weekend to take our minds off of everything - the waiting is horrid.0 -
Pity the poor broker he is being shouted at by both sides and has little/no say in how quickly they act.
A gentle push on Monday after you have chiled out should do the trick.0
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