Abbey & buying a repo

littlened

poppysarah wrote: »

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

I'm going to ring the department within abbey that deals with the brokers. We have another mortgage with them, and if they don't/won't help me, then I'll threaten to move our other mortgage to another lender...it'll probably do no good though.

lil'H

Littlened, I'm really feeling for you. Abbey are messing me about too at the moment, though luckily I'm not buying a repo. They keep saying they've lost paperwork, then they request other things. I first applied in Oct, on the house I was previously buying. Only last week they asked for bank statements of my parents (to show deposit they are giving me) I mean it's ridiculous, they could have foreseen wanting to see that weeks ago!

Good luck, keep us posted.

littlened

Just spoke to Abbey, they declined the application on the 9th January, which we knew was because they needed more information, but we didn't get notified until the 14th!

Our broker sent over the information they needed on Friday, and today they've confirmed they don't have it. So almost 3 days completely wasted!!!

poppysarah

What a PITA!

littlened

poppysarah wrote: »

What a PITA!

We're getting the information they need re-sent over to them now, but I'm furious that 3 days have been wasted!

it's like banging your head against a wall!

littlened

Well, it turns out we cant have a mortgage, and it's took them 6 weeks to tell us this....and it's cost us in solicitors fees etc.

They want me to provide them with 2 years accounts, and a letter from my accountant showing the turnover of this year. I can only provide 1 years accounts as the last years is with the accountant....so that's us screwed. If only they'd stipulated this at the start we could have saved ourselves a lot of headache.

poppysarah

Can you get anything from your accountant to show this years?

littlened

poppysarah wrote: »

Can you get anything from your accountant to show this years?

in total there's 3 years.

06 - 07 - I have accounts for this year
07 - 08 - These are with the accountant
08 - 09 - I have an accountants reference for this year

It's the accounts for 07-08, and Abbey won't accept an accountants reference for 2 year.

poppysarah

Burgrit. Ah well. It's a bit of a shocker that no one's pointed it out before that they need so much info.
So how much have you lost on fees? I can't imagine how frustrated you must be now - but you've got to find something positive out of this so you can move forward.

littlened

poppysarah wrote: »

Burgrit. Ah well. It's a bit of a shocker that no one's pointed it out before that they need so much info.
So how much have you lost on fees? I can't imagine how frustrated you must be now - but you've got to find something positive out of this so you can move forward.

It's mainly just solicitors fee's we've lost. I think we might get the survey fee back from Abbey as they've not done a valuation.

We can't see a positive from this to be honest. the house we were buying was 4 bedroomed, with a garage and 2 bathrooms, for £90k....there's just nothing on the market anything like it where we live.