Abbey Mortgages

berti_quinlan

This is all making me very nervous!
We had our decision in principle a couple of weeks ago with Abbey and are considering making an offer on a place after we take another look on monday.
Im now worried that its going to take forever and be a complete shambles.
The price of the place is well within our limits so that shouldnt be an issue, and the deposit is sitting waiting in a online saver account so hopefully that shouldnt add to the complications.....worried now though!

JA1000

I have submitted a valuation challenge to A & L, because those nice people at Esurv!!!!!!!!!!! who have just valued the property at £10k less than they did 1 year ago, despite all indexes and comparisons showing a completely different picture and a significant rise.

Quoted times from A & L below given to me from my broker- not including Easter and remember WORKING DAYS, so this is a month just to get this reviewed.

It's a shame we can't get some inside info to find out if they are working overtime this weekend to catch up!!!

7 to 8 days to review fax/ mail

3 days for surveyor to respond

7 to 8 days to deal with surveyors response

VIGILANT22

Yes they have been working weekends, some of the work has gone from Belfast to Wigan to be preocessed due to the volume of work...They made redundancies during the "crunch", so they're light on staff (in more ways than one)...then they advertise competitive rates but they don't have the volume of staff to cope with the work....added to the poor quality of staff = poor service.

mattED_2

Vortex Steve any news?

Desparatehouswife

Hi sorry to hijack this thread, but dont know where else to put this.
In December 2009 I accepted an offer on my house, my buyers mortgage was accepted by ABBEY subject to survey( this was done within 2 weeks ) all came back fine. So I put in an offer on the home we really wanted, accepted. all good so far! My mortgage was to be ported with Bank of Ireland.
Christmas came and went, we foolishly thought we could complete before the new year and avoid stamp duty. Alas this was not meant to be.
We would settle for 1st week in Jan it was a big ask after all. Keep Up!!
In January ABBEY request proof of deposit from my buyer, her deposit is a large sum coming from family all of whom sign the disclaimer for any rights over the home. All faxed ..Broker chases this up after no response by mid Jan. to be told they never recieved any of the documents faxed.
They were sat in a Dublin office apparantly for 3 weeks.. nice.
February comes and the chase continue more documentation needed .
Faxed again . Mid Feb comes and ABBEY inform my buyer they have found adverse credit on her file. She sorts this and her Solicitor who is now involved asks them to re look at the app, they do. More docs needed this time Mortgage statement and proof of deposit faxed for 3rd time .We wait again thinking this is it surely nothing more is needed. March comes and kind solicitor dares to chase again to be told please re fax Mortgage statement as we dont appear to have it, This is done and advisor assures buyer we have everthing now and will process it in 48 hours. By the way that was Mid March, Solicitor puts call in after weekend to see if funds can be released yet ...To be told it will be dealt with in due course. March 30th my Buyer ends up in hospital with a breakdown after not eating or sleeping, Today 7th April they are now asking for TAX CREDIT form and last 3 months wage slips.
The wait goes on for us all, ABBEY have so much to answer for .They have caused my family the same amount of misery as they have their own client.

VortexSteve

mattED wrote: »

Vortex Steve any news?

Hi,

Chased my adviser on it this afternoon. He had an email yesterday confirming all documents they required had been received and it was going off to an underwriter. He said I should hear something by tomorrow, however shortly after spoke to him again as he had a further update to say that the valuation survey was being booked in within the next few days.

Hopefully they can get something in late this week or early next week. Everyone in the chain is pushing for completion on 30th April, feeling fairly confident of being able to hit this... but just got to wait and see.

How's everyone else getting on?

happybroker

mattED wrote: »

Vortex Steve any news?

how about you mattED?

mattED_2

well al info went to them in the post thursday, so should of got to them sat/tuesday, still nto heard anything, although I think im about a day behind vortex! going by the last update

JA1000

As for A&L they finally arranged a valuation with that fantastic company called Esurv who carried out a valuation last April, in their wisdom and with proof of sold houses they valued the house and £10k lower despite, the sold houses as proof and all the indexes showing a very clear rise.

These surveying companies are so scared even with proof they are down valuaing against their own value.

How to kill a mortgage application DEAD!!! I wish the banks would let us pay for the valuation with who we choose.

devonmaid77

A little update folks.

I have been contacted by our mortgage advisor today. Our full application was submitted on Good Friday. He has been contacted by Abbey today with a few queries regarding our deposit. So that's not bad considering they probably didn't look at anything before Tuesday. Hopefully these will be all sorted by the middle of next week, and hopefully we will hear from them again by the end of next week.

Not too hopeful seeing as a lot of people are having such hassle, but keeping my fingers crossed anyway!

Will keep you posted. Any one else had any news?