concerns about broker

Topchick_dav

We have gone through a broker/financial advisor to get a mortgage as we are using the homebuy scheme to help us buy. we chose one we would have to pay once the sale has gone through so we knew (so we thought) we would be getting the best advice and everything should be done ok. We have been waiting over a month for the bank to do a survey after first being agreed a mortgage in principle and the vendor of the house we are buying are getting itchy feet and we now have a deadline of next Friday for the bank to book the survey

The financial advisor has been on to RBS and he told us they had lost some of the application and they would except the photo copies he had taken. This was last Friday (15th May)

A week later and still nothing so iv phoned RBS direct and they have said they are waiting for the PCC (package & confirmation cert) and requested this from our broke/fin advisor Tues.

Im getting very concerned. Any advise/thoughts?

nw_man

Yes, chase your broker !

Topchick_dav

nw_man wrote: »

Yes, chase your broker !

Going down tomorrow to see him and get him to fax it over while im there.

once this is done and assuming he does it, how long is it likely to be for the bank to book a survey & valuation for the house?

ronaldmacdonald

I dont think its particularly unusual tbh at the moment. I applied to the shabby over a month ago and still no survey, apparently the underwriter has had it this entire time and still isn't doing anything with it
I applied a fortnight ago to another bank - I enquired about that and its been on someones desk since I sent it in, unactioned because that person went on 2 weeks holiday when it arrived :rolleyes:

Only phoned that up so I can get my documents back.

Is there any bank that doesnt emply dead people, people that eat horse tranquilizers for breakfast or people so slow time bends around them?

Its funny but when its going to mean losing a purchase and sale the laughing stops.

nw_man

ronaldmacdonald wrote: »

I dont think its particularly unusual tbh at the moment. I applied to the shabby over a month ago and still no survey, apparently the underwriter has had it this entire time and still isn't doing anything with it
I applied a fortnight ago to another bank - I enquired about that and its been on someones desk since I sent it in, unactioned because that person went on 2 weeks holiday when it arrived :rolleyes:

Only phoned that up so I can get my documents back.

Is there any bank that doesnt emply dead people, people that eat horse tranquilizers for breakfast or people so slow time bends around them?

Its funny but when its going to mean losing a purchase and sale the laughing stops.

Woooaaa dont let the FSA hear you say that, banks can do no wrong you know :rolleyes:

nw_man

Topchick_dav wrote: »

Going down tomorrow to see him and get him to fax it over while im there.

once this is done and assuming he does it, how long is it likely to be for the bank to book a survey & valuation for the house?

I dont think there is a definitive answer to that, but if you lean on your broker, he will lean on them..... if only to get you off his back !

FraudBuster

Is this the same scheme?

HomeBuy scheme runs out of cash

Overwhelming demand means the £126m earmarked for government's MyChoice HomeBuy part-ownership scheme this year has all been spent already

http://www.guardian.co.uk/money/2009/may/15/firsttimebuyers-housingmarket

Topchick_dav

FraudBuster wrote: »

Is this the same scheme?

HomeBuy scheme runs out of cash



/QUOTE]
Hi yes I think it is. Funding seems to have ran out for the year. We have been allocated funding and its been waiting for us for nearly 3 months now.

We have been told if you have been allocated funding, you are ok. Its hitting those who have been told funding is there, gone and put offers in on houses that have been accepted, appointed solicitors, applyed for mortgages and put the house details forward to homebuy schemes and these are being temp turned down as there is no more funding and the back log is massive so people are having to wait weeks for an answer

betmunch

If you have told the MCHB people you have found a house (which you must have done if you are doing the ortgage application) then the funds will be booked for you.
You dont need to worry about the fact the money has run out

Cheers

Sandra2

The funds may be booked but the wait time for approval is currently 10 weeks in our case and still no survey booked.
How long do the HA's think that people in chains will wait?