Mortgage for FTB - Lender Problems

Clark1664

Hi, me and my partner are in the process of buying our first house together and did all the research and thanks to Martin had a good idea of what we needed to do.

The problem we have is that we used a whole of the market broker who didnt charge a fee but it has now been 11 weeks since we sent off the paper work to the lender and 6 weeks since the valuation report came back and still no offer.

It seems that every 2 weeks the decide to ask us for another piece of information and tell us if they get it today we will get our offer, which we still havnt had, and without giving any explanations as to why. Our advisor seems not to know either which dosent offer much hope.

Can anyone advise the best course of action?
Do the banks just not have the money to lend?
Should we hold on or look for another broker/lender?

Any help would be much appreciated as I am running out of hair to pull out.

Thank you in advance.

devon_guy

You should be chasing your broker to chase the lender. You may well have to get quite firm and insistent. I certainly wouldn't wait this long!

Clark1664

Thank you.

I am chasing him everyday and he tells me he is chasing the lender. I know what its like to be in the middle so have been firm but understanding.

I just feel that if we pull out we will be the ones losing out but if we wait we may never get the offer. If we go with another lender then we could be waiting several more weeks as we start the whole process again.

Any comments much appreciated.

nw_man

Clark1664 wrote: »

Can anyone advise the best course of action?
Do the banks just not have the money to lend?
Should we hold on or look for another broker/lender?

Thank you in advance.

1/ Chase your broker, as previous poster has said.
2/ Some of them dont !
3/ No, chase your broker.