Time from survey to mortgage offer...

lowis

On average how long does it take to get the offer letter from the bank once the survey has been done?

My survey was done on the 10th, the surveyor reported positively to the bank on the 11th - but have heard nothing yet.

Thanks,

Jorgan_2

It depends on the lender. Some will request job references etc before going to survey, others will do the survey then request the references. Check with your HR department to see if they have received a request reference, if so, has it been actioned. Also check with the broker/lender arranging the mortgage to see if any outstanding info is required from yourself such as proof of address,bank statements etc.

purplebiro

I would chase the bank and see where they're up to. Ours took 3 weeks to look at the valuation, then requesed reports, took 2 weeks to process these then requested another report (that they had supposedly "forgotten" in the first place)which then took another two weeks to process them. In which time the vendors got fed up and put our house back on the market.:eek:

Obviously not all lenders are this bad and I don;t want to scare you but it pays to know where you are up to, at least.

lowis

i called them (Nationwide) two days ago and I spoke to my mortgage lady there and she said that all the necessary info has been received and all boxes have been ticked. she was going to chase the relevant department up...maybe i am being impatient :-)

BarmyBubba

Applied for Mortgage last Wednesday. Surveyor went out on Friday, offer came yesterday morning.

purplebiro

lowis if there is one thing that the last six months has taught me it's that there is nothing wrong with being impatient (or pushy, or crying down the phone at people until they give you what you need...but that's another story ). Think about the amount of money you'll have paid them for doing nowt by the time you've paid off this mortgage and give them another ring, you have a right to know what's going on.

AndrewSmith

Nationwide are inundated at the moment and their service standards have dropped recently as a result, depending on which service centre your application is being processed at.

The two I use (Southampton and Swindon) are currently about 3 days behind on applications.

lowis

thanks - just called them again and they said that as I was RTB it was with the specialist team and the date it was submitted was 2 days after case workers are assigned. i smell BS :-) maybe they are just busy

tonyivb

We have our mortgage offer with Nationwide as well...

We offered on a house a month ago and it was only 3 days between the survey being done & the mortgage offer being confirmed.

Unfortunately that sale fell through, so we're going through it all again and this time the surveyors (Countrywide) are pants!

We asked NW if their surveyor could do a building survey at the same time as the Valuation... they said yes & that they would contact us with the cost (this was on the 14th). I had no call from them so yesterday I tracked down their office and called them... they said that there was a 4-5 WEEK wait for building surveys so god knows when they would have bothered to try and call us!

lilyann1

We used a private surveyor,who was reccommended to us and it took him 10 days after our request to do the survey as he was busy, and then it took him 10 days to get the report to us 'cos he was busy!!! I wasn't happy!!!!
I think it is just the nature of the business no one seems to want to hurry along apart from us.We have the same with solicitors.You just have to keep chasing people all the time!!!