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5 days from formal application to mortgage offer? Is this a record?
kunekune
Posts: 1,909 Forumite
Our mortgage offer arrived today. We haven't seen the survey yet but going by what the offer says, the house was valued at what we're paying (or possibly a bit more?). I'm amazed at how fast it has been: it is only 9 working days since our offer was accepted and my OH only put in the full application on Monday.
I suspect it will be a while before the sellers are in a position to move forward.
I suspect it will be a while before the sellers are in a position to move forward.
Mortgage started on 22.5.09 : £129,600
Overpayments to date: £3000
June grocery challenge: 400/600
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It's not bad! Best I ever did was 24 hours, though it was using a retype valuation report.0
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This was a full homebuyers report.Mortgage started on 22.5.09 : £129,600Overpayments to date: £3000June grocery challenge: 400/6000
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Ours would have been about the same if it weren't for the weekend. Put the app in on a monday, got our offer the next monday.
Just curious, completely unrelated but are your rebuild costs higher or lower than your valuation?It's not easy having a good time. Even smiling makes my face ache.0 -
Wow thats fast!
Can i ask which lenders you both went with as fingers crossed we will have offer accepted on house this weekend and have been hearing horror stories of 5 weeks + for a descision from some lenders:D0 -
would be interested to know who too, we have just applied to chelsea bs last friday and they have just got all my documents back and letter saying its been referred to the underwriters. seen another thread and somone has mentioned 7 weeks for the offer to come back.Listen to what people say, but watch what people what people do!!0
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We did 5 days too with Halifax the other week - offer accepted Monday, full application made Tuesday, survey done Wednesday and mortgage offer came in the post on Saturday. I think we were 'fast tracked' or something because they didn't even check our income.0
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I guess they're not too busy at the moment
They deem him their worst enemy who tells them the truth. -- Plato0 -
It was Halifax. We had an agreement in principle beforehand, and I don't think they do all the same checks for staff applicants that they do for people 'off the street', so that is part of it (or maybe they can just look it up, rather than needing us to bring in things - all we were asked for was my passport).
Wickedkitten, I don't know, because I haven't looked through all the documents properly yet, and I haven't seen the survey. I'll let you know when I find out - it's an interesting question.Mortgage started on 22.5.09 : £129,600Overpayments to date: £3000June grocery challenge: 400/6000 -
Wickedkitten wrote: »Ours would have been about the same if it weren't for the weekend. Put the app in on a monday, got our offer the next monday.
Just curious, completely unrelated but are your rebuild costs higher or lower than your valuation?
Rebuild costs should be lower than valuation, to be otherwise gives no value to the land.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Ours was with Nationwide and for the first time, our rebuild is actually higher than the valueIt's not easy having a good time. Even smiling makes my face ache.0
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