Abbey & buying a repo

littlened

I ran Abbey this morning, they've got no record of it on there system, but this is normal when it's done through a system. Apparently it will appear to them once it's passed on to have the survey arranged...so I suppose I know it's not at them stage yet.

I've asked my broker to find out what's happening, as we really need the survey arranging today so it's done ASAP this week. Then at least we can get progressing with the mortgage offer.

littlened

Latest update is that our broker has left multiple messages for the sale guy today, and so far no response.

He'll be chasing it up again tomorrow, but this is getting stupid now. Over a week has gone by, and we don't know if they're going to offer us the mortgage or not.

We were expected to exchange on Friday, but luckily we've been given some extra time for the christmas period...but we're going to be really really pushing this now.

I'm at the point now where if Abbey say they need more information from us then we'll pull out, because if it's taken 5-6 days for them to get back to us, it'll probably be another 5-6 days again, and the selling company simply isn't going to go alone with that, not when there were other people interested in the property.

merlinormartin

Sorry to hear about your "trouble" with Abbey .... how many days extension have they given you? hope you make your deadline!

littlened

Managed to finally get an update from Abbey. It's taken 6 days, but now they want a copy of my last years business accounts, which have not been done yet. We had previously supplied them with a letter from my accountant telling them what I will earn this year.

Can't believe it's taken 6 days. I've now supplied a p60 for the previous tax year, but god knows how long it'll be before we hear anything else.

littlened

An update on this.

Six days after providing all the necessary proof of income to Abbey, they've let us know they require more information. We sent that over on Friday, and now I'm assuming it's going to be another 6 days before we hear anything.

We're so upset about all of this, we're now over the 28 days we had to complete, and literally no further forward than what we were before christmas, I just can't believe it took them six days to get back to us.

Anway, it's now just a case of waiting, as there's no one at Abbey I can speak to. I keep chasing it with my broker, but I don't think there's anything he can do either to speed this up.

On top of this, we're also pretty certain now Abbey won't be giving us a mortgage because we have a letter off my accountant saying this year my earnings will be £36k, but my accounts for the last 2 year say I only got about £8k. So if they look at the last 2 year as well as this year, they'll probably see this year as a one off, and it's not.

I've found a telephone number on the bottom of an email from my account for Abbey's business department, I wonder if I should try ringing them.

poppysarah

Sounds nightmarish. What if you can't get a mortgage now? Are you preparing for that outcome? It'll be devastating I'm sure - not helped by their delays.
Best of luck.

littlened

poppysarah wrote: »

Sounds nightmarish. What if you can't get a mortgage now? Are you preparing for that outcome? It'll be devastating I'm sure - not helped by their delays.
Best of luck.

If we can't get a mortgage then we'll lose our solicitors fees etc, and we'll have to stay in our existing property until such a time we can get one. Which I imagine to be another year.

It's their delays that are annoying me. 6 days to tell us they want more information, and knowing our luck, in another 6 days time they'll tell us they want something else as well, we could spend 3 weeks just trying to give them the information they want.

poppysarah

What's the repo company saying about the delays? I imagine they're a bit annoyed but keen to get a sale still.
Is it someone on part time hours who's only in one day a week donig your paperwork?
Are there rules on how quickly they should be dealing with it?

littlened

poppysarah wrote: »

What's the repo company saying about the delays? I imagine they're a bit annoyed but keen to get a sale still.
Is it someone on part time hours who's only in one day a week donig your paperwork?
Are there rules on how quickly they should be dealing with it?

We've not heard from the repo company for almost 2 weeks now, last time we heard from them was when they agreed to give us extra time because of the christmas period.

poppysarah

Get back in touch. Explain you're onto abbey every day but they're being slow.