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Beacon Mortgage Advice! Help!
Comments
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hiya our funds were in 11.30am he day before
good luck0 -
That's really good to know, thanks for the info.0
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Hi...it seems that everyone has the same problems with packager and Beacon..delays... more and more requests at last minutes,3 surveys 3 valuations, retentionm then relese of retention once the work has been done, had to insur the property even if I wasnot the owner yet and so many more... like someone said here if they could ask a kidney they would... any way fo my self I started the full process in August and it seems that today is the day of completion and the end of a very long nightmare. I am actualy waiting my sol to call to confirm that the money has been received and we complete and then I can go and pick up keys.
Yesterday my sol confirmed me that Beacon confirmed them that we should have the money today... Stressed and very long day.... fingers and toes crossed.0 -
Wow, good luck with today!! Let us know how it all goes eh!0
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lepodologe wrote: »Hi...it seems that everyone has the same problems with packager and Beacon..delays... more and more requests at last minutes,3 surveys 3 valuations, retentionm then relese of retention once the work has been done, had to insur the property even if I wasnot the owner yet and so many more... like someone said here if they could ask a kidney they would... any way fo my self I started the full process in August and it seems that today is the day of completion and the end of a very long nightmare. I am actualy waiting my sol to call to confirm that the money has been received and we complete and then I can go and pick up keys.
Yesterday my sol confirmed me that Beacon confirmed them that we should have the money today... Stressed and very long day.... fingers and toes crossed.
Beacon insist on sight of a Buildings Insurance Schedule, however you should always have buildings insurance in place anyway from exchange of contracts. Once you have exchanged you are committed to buy, even if the house is flooded/blown away/falls down.0 -
Just spent 20 minutes typing out here, and it all got deleted?!! Really having the worst time of my life ever, I have been currently waiting for beacons for over 3 months, and each time they keep coming up with a new excuse, we need that or this and we have ran out of funds, twice they have said that, even tho we have sent everything they have asked for, and even got recorded delivery, they still denied recieving things, when we knew for a fact they had. Wot makes it worse is I am 32 weeks pregnant and due in less than 2 months, and we are still without an official mortgage, i feel angry and upset and am stressed beyong belief, currently living at parents house, theirs no room, and im in tears most of the time, feel so sorry for the baby, its really doing me and the baby no good at all. I have got nothing left in me. Me and my fiance are on the verge of breaking up because of all the stress, I just cant cope with this anymore, partyly blaming him as he has a really poor credit rating and we have no other option he says, I have an excellent credit rating but with being pregnant cannot get a mortgage on my own. Im beyond dispair...........
I have been reading all the pages and thought I’d respond after reading this.
I would say hang on in there. Those that say be patient are correct to a certain extent but keep on pushing your solicitor to get updates.
We finally got our Mortgage from Beacon. It took 2 months for the offer and then 3.5 months for completion.
I had perfect credit but my other half didn’t, and you do feel like blaming them, but try not to, because it’s not worth it, when you finally get it you will feel differently and may regret things you have said.
Our broker was crap and we refuse to pay them. If anything Beacons underwrite helped us out so much, they went beyond on what they were meant to do for us. They have a close relationship with Blegal so this helped.
I think the hardest bit was the phone call from the solicitor about the sellers of the property we wanted were on the verge of pulling out because it was taking so long! Initially they were ok as they had not found a house to purchase and were just looking for a new home, but once they found a house and were in a chain that’s when the pressure started. We knew we would get the mortgage and you should think so too. It’s just when the threats of the sellers pulling out that caused us stress! We had the sleepless nights, made constant calls to our solicitor etc.
We had 2 valuation (as the 1st expired) and both coming out different the second one was less so the added stress of going to the sellers and telling them after 3 month the property price was less and Beacon would only offer less, this was tricky but we came to an agreement. Beacon say it could take another 7-10 for the new offer. This is when the underwrite helped us the most knowing we were so hacked off and were going to pull the plug on the whole thing.
Our solicitor was rubbish we had to chase them to chase Blegal and they sat on paperwork for ages until we complained to the supervisors they then pulled their fingers out! But they did have experience with Beacons process which was one good thing!
Basically until Blegal provide the Certificate of Title to Beacon, completion cannot happen and you will need to provide everything to them we had around 16 “further enquiries” and in the middle of the postal strikes we special delivered everything!
Once Beacon approve the funds it takes 7 working days and if your solicitor has experience with Beacon they will recommend exchanging and completing on the same day, as if completion does not happen at the time specified on the exchange contract you are breaching contracts and could have to pay out. Your solicitors will not be given a time just the day so there is nothing they can do, ours came around 11am.
I would of thought that now Beacon are not providing anymore mortgage offers they would be able to increase completion times and also part of Blegal are in the same offices as Beacon so transfer of information should be instant! My advice keep on your solicitors every day, twice a day, have them cc you in on all correspondence with Blegal. We contacted Beacon when things were at the peak of stress about hurrying things up, but they are useless, everything is dictated by Blegal up until they supply the COT. Regarding the funds supply, we had this issue where by our underwrite did say, Beacon have virtually no money at the near end of each month, so beginning of each month is your best bet of getting things completed.
Good luck to all.0 -
Thanks for the support and encouragement there Jay. good to read your experience had a happy ending, especially as I notified all utilities etc today :shocked::shocked::shocked: When you got your completion date was that final then?
I wonder how that completion that someone was talking about went today, I selfishly (and of course unselfishly too) want it to go well.0 -
Thanks for the support and encouragement there Jay. good to read your experience had a happy ending, especially as I notified all utilities etc today :shocked::shocked::shocked: When you got your completion date was that final then?
I wonder how that completion that someone was talking about went today, I selfishly (and of course unselfishly too) want it to go well.
Yes when I was given the official date from my solicitor which they got from Beacon. I was given a lot of you could complete on xyz date if you get this and that in by my broker. But didn’t listen to that after the first couple of times.0 -
Gone a bit quiet on here........... How is everyone getting on??
Day of reckoning tomorrow for me:eek:0 -
post deleted0
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