Is this a very bad sign?

g_attrill

From what I read here, referrals to underwriters are very common. I got a mortgage with HSBC last year and my application was referred, even though I had a large deposit and the affordability was fine.

sophievenusdoom

michael1234 wrote: »

Just to update, our buyer was rejected by NatWest. We have no information as to why. He has now promptly gone and applied with his own bank (Halifax).

The news we have is that he already as an aip and then Tuesday last week went into his branch (he also has his main current account with them) to apply for the full mortgage. He was apparently told there and then that he passed the credit check but still needed to provide them with some more documents.

Today, we've been told that he will get a decision in 48 hours.

I've also found out that he has a 25% deposit.

But we're still really, really anxious.

Is it generally the case that if you get declined from one bank, then they will all turn you down?

Not at all. We were declined by the Alliance and Leicester before being accepted also with The Halifax

michael1234

Many thanks for the informative replies.

Our buyer applied (in full) around Wednesday last week. He said Monday this week that he'd know within 48 hours which have now passed. Is it credible that the Halifax are taking this long without a subject-to-survey decision and not having instructed the survey?

It also begs the question what could he know given that he already had an aip and the survey hasn't even been booked in so a final decision is a long way off?

Sorry if these questions sound stupid.

Thrugelmir

It is the summer holidays. People will be away. So processing may slow up.