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5 days from formal application to mortgage offer? Is this a record?
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Wickedkitten wrote: »Cash Buyer?
No. Remortgage. Within certain parameters the underwriters will do electronic valuations and if income etc has been validated via the bank account then it's reasonably common that this happens.0 -
The problem with the sellers is that I don't think they've found another house yet, as sensibly they didn't start looking until they had an offer. We're not in a rush, so it isn't a problem.Mortgage started on 22.5.09 : £129,600Overpayments to date: £3000June grocery challenge: 400/6000
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Were still waiting for Britannia, and will be 4 weeks this thursday! They say there busy, but they dont seem to have a clue. I have to ring them daily with what additional info they need, and every day it seems to be different, or what I sent the previous day! It took a week for the mortgage process centre to receive our app, then a further week for someone to look at it for the first time!0
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We put our full application in with Britannia on January 19th. We have had a letter saying it will go to offer once they have seen evidence that I am a British citizen and confirmed that my husband has never lived at a certain address. We've confirmed and taken yet more ID into branch on Friday, so I am hoping that Monday or Tuesday we get our offer ...I refuse to enter a battle of wits with an unarmed opponent:rolleyes:0
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How can you confirm that you've never lived somewhere? The mind boggles.Mortgage started on 22.5.09 : £129,600Overpayments to date: £3000June grocery challenge: 400/6000
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Our survey was completed on Wednesday and we received our mortgage offer yesterday! I'm guessing Halifax received the survey/valuation Thursday so it's taken them 3 days! pretty quick, can't have much work to do!
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phoned the chelsea BS today regarding our mortgage offer, its back fromt he underwriters so we are good to go and should get our offer in writing by the end of the week. Survey has been done last wednesday and thats back with them so thats all good.
just need to sort my solicitors out now, house was up for sale before hips was in place, i didnt realise and solicitors want £250 extra for the searches. I just went into the same comparison website as i originally used when i found them only to find out that when i tick the no hips in place box that its still cheaper by £113.00. So basically I can cancel contract that we currently have in place and go through the website again and i'll save £113.00. Solicitors looking into it now to see what they can do..Listen to what people say, but watch what people what people do!!0 -
Survey has been done last wednesday and thats back with them so thats all good.
just need to sort my solicitors out now
It may be money saving, but not time saving, to wait to instruct solcitors until formal mortgage offer comes out because some of the work that would have been done while they were waiting for the offer now takes time that wouldn't otherwise have been added - so it takes you longer to move.
On a separate point HSBC/First Direct issue offers before the valuation has been done. So this is confusing because people get all geared up and think they can exchange etc quickly only to find thta the offer isn't really worth the paper it is wrtiten on until the valuation has been carried out.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
I am really confused as to the procedure - we have been advised we can afford a house by the financial advisor who in turn advised the developer. We put down a reservation fee, picked carpets etc.
What happens now? We are awaiting a call from the FA to arrange the mortgage. We are first time buyers so I've got no idea what happens!
We have a completion date of 26th March - I have no idea how it can be done this quickly?!?0
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