Mortgage Application with Underwriters? Why?

dixichick

I hope so. Does anyone know how long the underwriting process takes? I provided Halifax with all info yesterday. The advisor said a few days but I have read other posts here where people have waited weeks which I don't think my nerves could take!

luckyfool

dixichick wrote: »

I hope so. Does anyone know how long the underwriting process takes? I provided Halifax with all info yesterday. The advisor said a few days but I have read other posts here where people have waited weeks which I don't think my nerves could take!

Halifax are alot better on service generally than these other lenders you hear so much about. e.g. Abbey/Woolwich/C&G.

itsnothing

My mortgage went to the underwriters with the halifax, I phoned up and asked them how long it was going to take until I would know, the lady said it normally takes 24 - 48 hours for a response, this was correct as within the 2nd day it had been offered.

I have my fingers crossed for you.

dixichick

That's good. Thanks for letting me know how you got on!
Fingers crossed!

nikki28

Hi

Im a mortgage underwriter dont worry they are just basically checking everything is as you said - i.e your income matches etc its very common dont worry :cool:

dixichick

I hope that’s what is it – I’m worried they will decline it. When I first applied for the mortgage over the phone the mortgage advisor told me it was fully approved. It was only when I went to see her she mentioned that it would have to go business accessors? I thought it was approved and was over the moon! Perhaps it was a mortgage promise she gave me. She passed it onto the business accessors today so hopefully I’ll know in a few days.
V nerve wracking business!

Conrad

Lenders would not need to employ armies of underwriters if it could be done with a simple computer approval.

dixichick

still nothing from the Halifax. Spoke with mortgage advisor who passed my info through on Monday. Checked my experian report online and see another credit check was done on Monday in addition to the first one the week before. Don't want to keep phoning but am not sure if no news means bad news? any ideas?

nikki28

Keep phoning them ! the call centre will keep sending messages to the underwriters so It will speed it up - its usually with underwriters 48 hours so you should know soon - keep us informed

michael1983l

I just had mine go through with the Co-op underwriters and it took 4 days. I don't know what they did but they accepted it at the original terms.