Have I jumped through all the hoops yet?!

littlened

we had a nightmare with Abbey.

Had an offer accepted on a property before christmas, Abbey said "Yeh no problem, you can have a mortgage in principle". We provided them with everything they asked for, 3 weeks later they came back and turned us down, so we provided them with further information, then waited another 2 weeks to be told they couldn't say yes without my final years worth of accounts, which was at the accountants.

Anyway, we gave up with the Abbey, that was a month ago, and so far they've not refunded us the survey fee we paid even though they never did a survey.

mercedes125

Each day that goes by more angry i get its rediculous not knowing if the abbey are going to be giving us a mortgage. The broker that we are going through is what the one that the builder said that we had to go through for an easy process,who are they kidding lol, im sure i could have done things quicker my self, i am thinking of ringing head office up who we are buying from and saying what i think i mean its 5wks now in all, they abbey dont deserve any buisness sorry to go on its just how i feel.

jill2002

Don't blame Abbey for a 5/6 week decision - it does not take that long !!!! I would be having a conversation with your broker!!

VKay

Normally quicker is it Jill? I'm curious too as I'm waiting for Abbey to value property and wondering how long it generally takes to get to that point? Hoping I won't have to wait as long as poor mercedes- hope things get going soon for you.

jill2002

It is slightly longer through a broker - but through a branch it is normally an instant decision (if instant not available it should take 2-4 days) then valuation arranged, they report back to mtg centre overnight and offer issued following day. So from inital application to offer max. 2 weeks. Through a broker, the application has to go through a processing unit, but even at busy times it should only extend the above by 1 week.

VKay

Thanks Jill !That's really helpful information- think I'll get onto my broker today and keep things moving along.

sarah77

Hi all,

Just got a quick ques before i start work. Im ging to ring the mortgage broker at lunch so i would like to be prepared....

Applying through a broker with Abbey and paid the valuation fee 6 weeks ago on application. We've had some problems with having to send the accounts to Abbey numerous times so as yet the paper work has not gone to the underwriters and valuation has not yet been done. On the key facts it says this money is non refunable. Is the valuation usually done after the docs have been seen by the underwriter? Understandably the estate agents/vedor are starting to ask questions and i was wondering if its appropriate for me to ask my broker to get the valuation arranged asap in order to reassure the vendor that things are happening? Does anyone know if this money is refundable if the mortgage is declined on the basis of credit check/income but the valuation has not been done.

Hoping to ring Broker for some answers at lunch

Thanks in advance

VKay

Im no expert but in same position as you .

My broker told me it went underwriters first and THEN valuation survey.

Good luck ( keep pushing!)

devilot

jill2002 wrote: »

It is slightly longer through a broker - but through a branch it is normally an instant decision (if instant not available it should take 2-4 days) then valuation arranged, they report back to mtg centre overnight and offer issued following day. So from inital application to offer max. 2 weeks. Through a broker, the application has to go through a processing unit, but even at busy times it should only extend the above by 1 week.

Is it a good sign for me that they contacted my sellers EA yesterday to arrange the valuation? We applied Monday and were told it could take up to 14 days (direct application through Halifax).

Like everyone else here, I'm not the most patient of people and I'm off on half term this week so I've got nothing else to occupy my mind!:o

VKay

me too devilot- can believe it's Thursday already- haven't done much! So how long between giving all tyour paperwork to broker/ bank and hearing from your EA that the valuation will be done? I've waited a week so far- v impatient!