My mortgage application

lil'H

Hi all,

Awaiting on news form Abbey regarding my application. They keep loosing paperwork, requesting things that have been sent, constantly requesting new information that they could easily have foreseen requiring back in Oct/Nov when we first applied (application was put on hold mid Nov to 20th Dec as original house fell through on survey). It's a 3 year fixed at 4.69% Is it worth carrying on with them playing games or should I apply for a deal elsewhere, are all companies very slow at the moment? I have 60% deposit and broker only recommended this deal because of rate at the time (Oct) not because I wouldn't get anyone else to lend.

Concerned that we are going to hold up whole of chain.

Conrad

It's luck of the draw, sometimes 'x' lender offers within a week, other times the same lender takes months. There are so many variables that influence the speed of a case, and the packaging requirments.

All lenders operate the same system whereby basic information if requested up front, and then an assesment is made as to whether further info is required, and once that is received that can trigger further requirements.

You tend on these thread to get anecdotal evidence stating 'x' lender was excellent, but these are merely anecdotal exeriences, and in no way indicative of all individual experiences. You only have to think of the times people have recommended a restaurant or holiday, yet someone else is negative on the exact same experience.

Best of luck.

herbiesjp

Indeed - one persons experience may be good and another's experience may be bad.

It may well be wise just having a look at what rates you could get - if nothing else to satisfy your curiosity. Lower LTV rates have been coming down, so you may benefit

lil'H

thanks for the advice guys. Finally had a call today to say they are satisfied with the paperwork and are sending it to underwriters. Should hear in 3-4 days. Hopefully that will please the rest of the chain, who are ALL cash buyers and mortgage free!