Abbey Mortgages

mattED_2

bit of an update from me!
still waiting for the 3 day Q So chased abbey today, they are saying it falls short of the 90% LTV buy around £1100?? and they can use a BUFFER (What ever this is) of £750 and all we have to pay is the outstandng £350 up front?? ive agreed to it and they said they are going to fax offer over to solicitor monday?? would this be right??

tanman_3

i had an offer in principle through the abbey subject to proof of income, i sent the proof off on wednesday 19th may. The abbey came back to the broker yesterday and just wanted clarification of how we are going to find out deposit, the broker confirmed that we are selling our house.

are we almost there or will the underwriter's come back and ask anymore questions????

clairet707

We completed on our Abbey mortgage this morning, cant wait till 4pm and I can leave work and get the keys!!

We nearly didnt complete as Abbey pulled the offer on monday after exchanging last friday, they werent happy with the way our deposit was set up as trust rather than a non refundable gift so we have had to jiggle that around to make it a gift and they were happy again...

Good luck to everyone else!

pushsneha

Congratulations on your purchase. I can understand the relief you might have got as I still waiting for the moment but nevertheless good luck with your moving to new house.

clairet707 wrote: »

We completed on our Abbey mortgage this morning, cant wait till 4pm and I can leave work and get the keys!!

We nearly didnt complete as Abbey pulled the offer on monday after exchanging last friday, they werent happy with the way our deposit was set up as trust rather than a non refundable gift so we have had to jiggle that around to make it a gift and they were happy again...

Good luck to everyone else!

Gambit

Yay! Good news clairet707! You must be well happy!

I'm still waiting for the exhange to happen. Everything is in place apart from these few queries left outstanding from the sellers solicitors who I think is waiting to hear from the leaseholder management agency. Hoping it happens next week... then again I was thinking the same about this week! :mad:

kford224

I know this thread was started aaaages ago, but I thought I would add an update on our current application so we can all compare (well, those who have not been put off enough..!!)

Tuesday 8 March - Offer accepted on a house (with current AIP in place) I also did an application over the phone with Santander, as the rate was lower when you apply direct, rather than through a MA (this was at our MA's advice). The guy on the phone said the application was successful and asked me to fax them three months of statements and three months of payslips. He said he would pop all the paperwork in the post, but we wouldn't need to do anything with it at this stage.

Weds 9 March - Paperwork was faxed off and I called Santander to confirm they had received it. Someone said they would get the person dealing with our case to ring me and let me know it was OK.

Friday 11 March - Received all the Santander paperwork in the post and noted an incorrect DOB for my OH, so called to correct it. I was told it would be passed to the right advisor and he would call me to let me if there were any problems with changing it.

Saturday 12 March - Received a load of forms from our solicitor that needed signing and completing (including a stamp duty exemption as we are FTB)

Tuesday 15 March - Solicitor paperwork sent off with copies of our passports and driving licenses. Called Santander to check they had everything they need from us so far. Again, was told someone would ring me back.

Wednesday 16 March - Called Santander again and was told that someone would ring me back. They confirmed that it had not gone to underwriting yet as they were waiting to see if the documents we faxed were OK.

We shall see what happens from here, and if they do ring me back today, as he promised yet again!

Thrugelmir

kford224 wrote: »

We shall see what happens from here, and if they do ring me back today, as he promised yet again!

What do you hope to achieve by constantly ringing Santander?

Your application isn't going to be processed any quicker.

kford224

Thrugelmir wrote: »

What do you hope to achieve by constantly ringing Santander?

Your application isn't going to be processed any quicker.

It is more in the hope that the guy dealing with the application answers the phone and also because it feels like I am actively doing something rather than sitting and waiting!

Also, have heard from our solicitors that a contract has been received from the sellers and seeing as our offer was on the basis that things move quickly, I want to do my best to make sure they do

kingstreet

kford, I did respond in the other thread you posted about Abbey.

It is unlikely anyone can tell you where your correspondence is, until it reaches where it has to get to and gets actioned.

Unfortunately, lenders aren't well enough staffed for someone to stop what they're doing to go look through a pile of stuff to see if one lot of correspondence has been received.

It is immensely frustrating, but telling you you'll get a call back, which you will eventually, is probably viewed as a better option than telling you that you are the one holding things up with your phone calls and that you should leave them alone to get on with it.

Deep breaths and large quantities of alcohol in the evening are all I can recommend, I'm afraid.

kford224

kingstreet wrote: »

kford, I did respond in the other thread you posted about Abbey.

Yes I appreciate that , I was purely posting as a comparison to other cases, not seeking more advice! I thought it might be good to compare timelines with other people.

You're right though, it is frustrating when you know the solicitors have had a contract and are ready to go. I think alcohol may be the answer!!