Abbey Mortgage offer...how long?

carmen_sm8

Well after the nightmare with Abbey we reverted back to Nottingham Building Society after accepting that Abbey were clearly not going to respond to the complaint we made about their doubtful affordability calculator! I am pleased to say Notts BS turned our application around from application to offer in less than 14 days!:rotfl:

So now I am very happy as we can finally progress the house purchase and hopefully move by the end of October!:j

Now my next challenge is to try and get my children into the local school - that is definitely a harder mountain to conquer!!!:eek:

shazza57_2

:mad::mad::mad::mad:

musey wrote: »

:mad: :mad: :mad: :mad:

We're having an absolute nightmare with Abbey at the moment their service is nothing short of discraceful. We are still waiting for a decision from the underwriters 6 weeks after applying. Our credit rating is flawless, our income more than covers the repayments, the LTV is just over 50% and yet week after week they request another piece of information or proof of something, I'm at my wits end, on Friday I spoke with the Financial Ombudsman Services who say we have a case for complaint. We are now at the point of loosing the property as the vendors are understandabley upset that no valuation has taken place and we cannot progress. We have no property to sell. I could cry with frustration.

I am reading all these messages from people about Abbey and really concerned as selling my house to young first time buyers who applied for Abbey mortgage through a broker on 6th October and as at todays date, 2nd November, it is still waiting to be signed off by underwriters even though all documentation is correct. I want them to get a survey arranged on my house and am losing patience with everyone. Their broker keeps saying it will be tomorrow, then another day goes by, then a week goes by, now its Monday again, and I have told my agent to tell them that I am now putting my house on market again as I am fed up waiting. I have put offer on a house and want to get a survey done but cant until my buyers have done theirs or I may waste a lot of money. I cannot call the Abbey or their brokers can I? as that is down to my estate agent..... HELP, can anyone out there please tell me if their mortgage was going to be declined would I have been told by now?

newbi

Hi,

I applied for mortgage with Abbey on Saturday 24th Oct. and the survey was done today, so pretty good turn around!

Glen2009

how did you apply it? was it via a broker or you went directly to Abbey?

thanks

newbi

Glen2009 wrote: »

how did you apply it? was it via a broker or you went directly to Abbey?

thanks

Hi, I applied through a broker - before the application I asked him about the fact that Abbey were slow to respond, and he said that he hadn't been having any problems with it taking about an average of two weeks. So I should hopefully here back this week that all is ok.

mjhx

Oh dear I should have read all these before I applied for an Abbey mortgage. It has been a nightmare. First the hurdle of affordability - less than three time salary and 40% deposit! Eventually they accepted they had put in the wrong figures. Survey done and offer sent to me at the end of September. Legal work complete and exchange and completion for last Friday 30th. NO. Despite requesting the money to solicitors account on the 22nd on the 30th we were told they needed more questions answered. I am in rented accommodation having given notice and the seller is quite rightly livid. I rang to ask what was going on and was told a completely different story allegedly all the fault was on my side. Apparently we had pointed out the mistake on the valuation form that stated no parking when in fact there is a dedicated parking space with the property. I was now required to prove this and obtain written estimates for minor repair work that was noted as being needed. This despite written confirmation from Abbey they did not need these. All these were provided and now still nothing. I have incurred several hundred pounds more in legal fees chasing the Abbey all down to their own internal inability to talk to each other. If I lose the purchase I have no home, my furniture in storage and a huge legal bill for nothing. Customer service. I think not.

Glen2009

happy ending at last

Kyrae

We applied to Abbey through A&L and they did our survey within a couple of days and we had our offer through in about a week! We were worried about the affordability too, as they use average spending statistics and myself and my partner spend a lot less than their statistics. We spotted in one of the documents that there is an option to tick if you think you spend less than their estimates, so we ticked it, and we had to provide bank statements to prove our monthly outgoings. Offer came through approved!

telsokari

Hi there,

I completed in September and am set to complete next Friday, the 20th with a mortgage through Abbey. The big delay between exchange and completion was due to the vendor needing more time to find a new place. After reading a few things online i started to worry.

Is it possible for Abbey to withdraw the mortgage this close to completion or am i worrying about nothing?

Thanks

T

hatcheth

Hi,

Having an Abbey survey done tomorrow.

I went into the Branch several weeks ago with a payslip and driving license and came out 90 minutes later with a mortgage offer in principle. I waited until last Friday to instruct the survey to make sure our buyers were serious.

We are porting our current mortgage (BBR+ 0.5%) to our new property. I assumed I would have to pay the top up at current market rates, however Abbey honour both the current mortgage and the top up at the same rate (well actually slightly better at BBR + 0.49% on Salary x4, LTV 84.99%). Can't believe what a great deal we have got. Mortgage advisor knows the rules inside out, so told us keep it under 85% to keep it away from the underwriter. Am borrowing about 50k more than we need, because Abbey think we can afford it and I can put it into an account/bond earning more than the .99% we are paying to the abbey..

I used to have extensive debates pre credit crunch with colleagues about Trackers vs Fixed. Everyone assumed that when their rate finished they would automatically be able to refinance with another lender at the current best rate. I personally didn't buy the constant movement of mortgage because it was hassle and I preffered a decent deal for life. I think the LifeTime tracker deal with Abbey is going to save us about 50k over the lifetime of the mortgage.

BTW, I would always recommend applying in person if you can work out the best deals for yourself. Our buyers have taken weeks to sort out the survey on this house because they went through a broker, which just seems to create a longer paper trail.