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Mortgage promise to written mortgage offer - how long?
vegasvisitor
Posts: 2,295 Forumite
Can anyone tell me how long it should take to get a mortgage offer in writing? If it takes 2 weeks for a buyer to get this, would you say this indicates a problem? It's holding someone up from getting missives concluded - it's not an offer on our house, just someone we know. It's C&G supposedly if that makes a difference.
Any info appreciated.
Any info appreciated.
0
Comments
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i spoke to my mortgage company chelsea bs and i had my mortgage offer agreed mondya and they said it should take a week to get to me. Surely if ts been agreed 2 weeks should be max.Listen to what people say, but watch what people what people do!!0
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I'm supposing they just need to check your paperwork, evidence, do a credit scoring and then send it to you. If it was stopping you making an offer surely that would be an issue and they could rush something through. Would it be bad enough that a sale could fall through in the meanwhile?0
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Do you mean they have a mortgage in principle and are waiting for a foraml mortage offer? or that they have the mortgage offer agreed but don't yet have the paperwork? or that they are waiting for a mortgage in principle? Its not very clear when you say mortgage promise? If its the former then it will depend on how quickly the surveys etc can be completed and how fast the mortgage company is but 2 weeks is not unreasonable. If the mortgage has definitely been agreed (ie surveys has been done they've been verbally told this but are just waiting for paperwork) then two weeks seems a long time to wait for the paper work. If you mean they have applied for a mortgage and are waiting for a mortgage in principle then they will be credit scoring etc and 2 weeks prob nothing to worry about but I would be chasing it up.0
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C & G are eratic.
When they are good, they are very good, when they are bad, they are horrendous.I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
My brother and his g/f recently went through C&G for their mortgage and from start to finish it took 4 weeks. They were told there was a huge back log and that there would be a delay. They completed yesterday.0
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