Principality process

goininsane

Hello everyone - first post!
We are in the process of buying our first house and have applied to Principality. We have "passed" a credit check apparently but am wondering what the Principality process is- do they survey first and then underwrite or vice versa? Just a bit nervous with all the horror stories going on, we hadnt heard much about Principality and though they might be a bit quicker as they are smaller?

Cheers

Steve

thriftymomma

Never heard of them sorry. Sure there will be a knowledgeable person along soon.

ianbrown

We've just started an application with them.

Started and did credit check around the end of April. Had a call from the developers to say that the surveyors was going out the next day - and we hadn't paid the fee at this point. then it went to the underwriters and has been with them for about a week - we have been told it takes about 3-4 weeks,

HTH

goininsane

ianbrown wrote: »

We've just started an application with them.
Started and did credit check around the end of April. Had a call from the developers to say that the surveyors was going out the next day - and we hadn't paid the fee at this point. then it went to the underwriters and has been with them for about a week - we have been told it takes about 3-4 weeks,
HTH

Yes ours has been 17 days so far, I believe a surveyor has been "instructed" although not actually carried out - we also have not paid a survey fee yet. I suppose its a sit and wait. It seems like forever! :mad:

Stantheman

Applied about 3 weeks ago. Paperwork sent a week later which was promptly returned. Survey done last wek and now waiting for the underwriters to give me the nod. Should be another couple of days.

ianbrown

Has anyone heard from the principality yet?

We got an advisor who was brand new to the business so told us things weren't needed...then a week later they were etc.

Received a call at 3pm yesterday that docs that hed been requested on tuesday needed to be faxed by close of business or the ' application would time out'.

One of the doccuments was a letter from employer confirming my return to work. Surely, the company writes to your employer themselves?

Anyway after much running about we got them faxed to the underwriters, do now we have to wait or if everything is satisfactory then the offer letter comes out?

Thanks in advance