Underwriting Process!

Rob_Jones_2

Hi all, i have been googling and looking on here about the mortgage underwriting process, As soon as you fill in a full application is it viewed by the underwritier who asks for other pieces of info such as more pay slips etc, or is this done by some other person e.g under - underwriter (i dont know what job title they use if they exist) who then passes all the info on to the underwriter who reviews the case and makes a decision?

Also what stage does the case go to the underwriter? is it before or after the valuation, i was wondering this because would a bank do a valuation and take money out of your account if something else in the application is iffy or justifiable for a decline.

Thanks!

Rob

sarah77

Hi,
I can let you know some info based on the mortgage application i have just completed with Abbey but whether this is the same throughout im not sure....

We applied through a mortgage broker.
We paid the valuation fee on application.
The impression i got from our broker was that he dealt with a member of staff who ensured that all the documents were recieved. This was not straight forward for us as OH is self employed so he kept asking for more stuff. Once this guy was sure he had all the necessary documents the info was sent to the underwriter.
All ok with documents so valuation was arranged and then finally we got the mortgage offer. We were told that if the mortgage had been declined by the underwriter then the valuation would not be done and that money would be refunded.

Hope this helps a little.
Sarah