Happy Ending Abbey/Santander Story!!

Samtobuk

Well, it's nice to know not all deals with Abbey end in tears!

Applied for a mortgage just under 3 weeks ago. 85% LTV and a pretty damn big loan at 340K. Having taken some advice on here, went straight to my local branch rather than via my usual whole-of-market broker, and because I am a current account holder so could get a 4.99% fixed deal for 4 years.

Compelted application form 1 week after first appointment (had to wait to next weekend for my wife to be available to sign). Then waited one more week for valuation to be arranged. Done through E-serv, but luckily as it needed to be done quickly (auction coming up!), they farmed it out to a local surveyor. They went out on tuesday, valued house bang on the money at £400k (so no undervaluing at all in my opinion), and got the report back into Abbey this morning.

True to her word, my Abbey advisor said the mortgage was all agreed up front when we did the affordability, and so it was just a case of getting the offer letter out. Normally takes 3 days, but she had it faxed to the branch and is now sitting there ready for me to pick it up tomorrow.

VERY impressed with the turn-around given many of the horror stories on here. Straight-forward advice, no nonsense service. If it weren't for a week delay getting the valuation set up, it would have been 2 weeks start to finish.

Wish me luck at the auction on tuesday!!! :T

JA1000

Well done and more complicated because of auction. What is the guide price? Hope the property shortage at the moment doesn't go against.

Have you any flexibility on the loan, i.e. 90% should you need it. Always have plan B for auctions.

Samtobuk

Guide is 300-350k, but as it has land with it, you never know who might be prepared to go some way over, as it is an unusual property in a very nice village.

No plan B to be honest, can't get that kind of loan on a 90% LTV, so we've got our max and that's that. Let's hope we want it more than the rest of them! :beer:

clairet707

We've so far (touching lots and lots of wood) had a good Abbey story too and thats after me being majorly sceptical about them

We went to our broker on friday 12th, applied online in the brokers (ours isnt a simple application as we have a house we rent out and the deposit is being trusted to us by my parents), got confirmation that the mortgage was approved on monday 15th subject to valuation, valuation was done on 16th, got confirmation on thursday 18th that valuation was ok and our mortgage was approved! So full approval within a week! We have 75% LTV and a 3 year tracker at 3.09%

Our full structural was done on monday and we are now waiting for the solicitor to do their bit!!

JA1000

clairet707 wrote: »

We've so far (touching lots and lots of wood) had a good Abbey story too and thats after me being majorly sceptical about them

We went to our broker on friday 12th, applied online in the brokers (ours isnt a simple application as we have a house we rent out and the deposit is being trusted to us by my parents), got confirmation that the mortgage was approved on monday 15th subject to valuation, valuation was done on 16th, got confirmation on thursday 18th that valuation was ok and our mortgage was approved! So full approval within a week! We have 75% LTV and a 3 year tracker at 3.09%

Our full structural was done on monday and we are now waiting for the solicitor to do their bit!!

Grrrrrrrrrrrr

Only joking well done, nice to hear that valuations are being valued correctly and lenders are lending

clairet707

I was majorly majorly unsure about using them, a couple of my friends had horror stories about them so wouldnt have wanted to go anywhere near but in the end my husband won the battle of saving £2000 over not touching Abbey :rotfl:

barrybarryr

I've got a good Abbey story too. From nothing to a mortgage offer within 10 days including e-serv going out and doing a valuation!

That's at 85% Ltv 5.84% four year fix for £118,000.

Now the conveyancing, well, that's a different story...

bsk198

I wish I had such a happy story to share about Abbey! I first spoke to them on the phone on 27th January and a month later after various farcical incidents caused by their ongoing incompetence, the earliest that I will get a decision from the underwriters is next Wednesday (this is despite being told on the 30th January that we more than met the affordability criteria). I am literally tearing my hair out about it as 5 weeks from having our offer on a house accepted we still have not had the mortgage valuation survey done, and I live in fear that the vendors will lose patience and put the house back on the market...

Radsteral

i am 10 days sitting on my first house now :j all painted etc .. kitchen a bit last century but everything elese all fine

its courtesy of abbey fast track via mortgage advisor... and think before i applied with abbey, i had been rejected by every bank(including abbey

in 5 days of application, i had recieved mortage offer and survey done..got stuck a bit as i fired the solicitors and abbey had to issue another offer for new solicitors.. midday on 15 completed
25 percent deposit at 3.99 3 year fixed