Which lenders are good to deal with?

Hopejack

By that I mean efficient and hopefully speedy - don't take 6 weeks for the application etc. When I do see a property I like I don't want to miss out by not having finances in place - I will obviously ensure we have an MIP to show we can borrow but we all know that these days that doesn't mean that much until you actually apply!! :rolleyes:

I've read that Abbey are terrible at the mo (on the whole). Think Woolwich are bad too??? So who else can't claim top prizes for their customer service/efficiency.

suisidevw

Natwest. Can't recommend our application highly enough. Applied on the Friday, had a text on Monday to say that the underwriters were looking at it. Text on Tues to say it had been confirmed. Text on Wed to say that Surveyor would be going in on Friday, text following Tuesday to make 'official offer of mortgage'.

Really very impressed. A* for me.

leighannwatson

I agree with suisidevw re the Natwest, we are with them and from seeing the mortgage advisor to exchanging took us 5 weeks. Met advisor on 8th October, text from Natwest to say mortgage in principle subject to survery, surveryor contacted us on 19th October and survey arranged for 20th October. Natwest contacted us on 22nd October by phone to say mortgage agreed. Searches carried out, contracts signed on 5th November, text from Natwest to say that funds would be released on 13th November, text from Natwest on 13th November to say funds had been released and congrats on your new home.

5 weeks was quick for us as we were purchasing from a relative and are FTB but I'd say thumbs up for Natwest.

suisidevw

Likewise to Leigh, we were FTB'ers too.

jamestap

Despite reading some really mixed reviews of Abbey on here, I can't recommend their service highly enough.

I applied (by telephone) on Friday 13th. Documents were with me on Saturday 14th. I returned them on Monday 16th. On Tuesday 17th I renegotiated the sale price of the house with the vendor so contacted Abbey and made the changes by phone - no new paperwork to sign. The survey was done on Thursday 19th and I received the offer in the post on Saturday 21st - 8 days from first contact to full offer!

For my requirements (3 year fixed, 85% LTV) they also had the most competitive product on the market, so suffice to say I'm 110% happy with them.

Hope this helps!

James

kmmr

To be honest it depends on whether the firm is looking to expand it's loan book a the time. I went with A&L in July this year, and they were on a bit of a lending spree - so they were quick and helpful.

So, at the moment Natwest might be good, but ask your mortgage broker when you are buying which firm is actively recruiting. It will vary depending also on what type of a buyer you are, and the deposit you have, as to whether they will be keen to get you on board.

Hopejack

Thanks for all the replies. We will be looking for a mortgage of around 40% LTV and no prob with salary multiples - bit less than x 2, and have clean credit files - if anything the issue may be we don't have enough credit!!

It's a difficult one choosing to use a broker - some people swear it slows down the process (in current climate) and some say it speeds it up!

As kmmr says all could change by the time we actually come to ask for a mortgage (we are not FTBers but we do not have a mortgage currently as paid off). But ime those lenders/finance institutions that are good to use, normally stay that way, unless like Abbey something major like a takeover or something happens.....

clearing_out_my_pockets

Can I just add my experience with Nationwide here?

I made an appointment with an advisor for last Thursday, but he phoned me the night before to run through a few questions so that he was fully prepared. Thursday morning I did the application and took the forms away for OH to sign. Survey was arranged within ten minutes of me walking out of the door. I met advisor in branch half an hour before they opened last Friday because he had no appointments free that day. Application went off Friday. Valuation done yesterday. Mortgage offer given (verbally) today with decision to be faxed to my solicitor. All in all, under a week! Our advisor would probably bend over backwards to help us! I suppose it's not just the company involved but also the people you're dealing with.

Gorgeous_George

I like NatWest too but also Britannia score 100%.

GG