a quick question

Radsteral

mortgage advier called today and said he got mortgage aproval paper and asked for when i need the survey done.
that means i have been accepted?
I have had huge problems with my 2007-2008 accounts and wa looking to get a mortgage for a house 230.000 and 18 percent deposit.. but as soon as i offered 25 percent it seems they are keen.
its gone through abbey fast track

so if they take my survey money, do you think there will be a comeback from the bank anymore?

These are things my mortgage adviser should explain to me and i ll ak him when he comes home tomorrow though, like the idea asking another side aswell.
thanks

Let_Us_See

I think you are a little confused and I believe your advisor has obtained an Agreement in Principle and not a full mortgage offer, as it is extremely unlikely a mortgage offer would be issued BEFORE the survey is undertaken.

If lender has offered a Fast Track then, in theory, they do not request proof of income, but lenders do check a percentage of Fast Track applications. However, if your declared income does not match your 2007 - 08 accounts, then both you and your advisor are committing fraud. Is this the main reason for posting this thread????

Normally, a lender will complete all the underwriting requirments before requesting the valution, and this would indicate the application is being successfully processed.

The lender can request additional documentation at ANY time, even after the mortgage offer has been issued.

princess275

It depends on which lender you use. As mentioned above, it looks like you have been approved and have a "Decision in Principle" and fast track does allow you to get a final offer without approval. But a lot of lenders are asking for proof of income.

I would suggest you ask your advisor which lender he/ she is using and if they are likely to ask for proof. Your advisor should know.

Radsteral

Thank you both for the input.
Its abbey,
underwritter application=agreed
valuation = instructed

i had the mortgage adviser today and got a copy of application
they require last 2 years accounts on the check list, and last payslips both of which i m fine...... the one i ve had problems before i when they require 3 years accounts and my 2007 accounts are a waste of time to look at

on the Mortgage certificate there are 4 things abbey required , and
a) was Proof of income
b @satisfactory valuation
c)deposit of at least 25 percent
D)subject to product selected
and then says
Aditional requirements which have been requested by lender to progres application include
A) no evidence of income(fast track available)


survey instructed so fingers crossed

princess275

good luck with it! if its fast tracked then you should not have too much of a problem if teh survey holds up.