PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Underwriters - How long for decision?

Options
Hi,
First of all sorry with all the questions am new to this, and have had some very sound advice so far with my othe post..

My mortgage application has been handed over to the underwriters this morning? first of all is the underwriters the actual lenders? mine is platform - what are they like?? anyone else dealing with them? my mortage broker is c&g - so far they have been brilliant.. any one else with them?? what have your experiances been with them or platform?

Secondly how long does it actuaully take for a decision for mortgage to accepted fully? I appreciate there are loads of other cases also.. but just wondering how long does this roughly take? and is it a ok if it is being handed to the underwriters?

As always,
Thanks in advance :)

Comments

  • silvercar
    silvercar Posts: 49,529 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    All mortgages are underwritten so it is quite normal. I asked this question recently of Natwest and was told 48 hours; then I found it then went on to a senior underwriter who took another 24 hours!

    I would guess that it would be quite quick once it got to underwriting stage; it should literally be a decision.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • Our mortgage offer is from Royal Bank of Scotland, our application was with the underwriter for a week, which apparently is normal for RBS.
  • leftieM
    leftieM Posts: 2,181 Forumite
    Part of the Furniture Combo Breaker
    Alliance and Leicester took a couple of days.
    Stercus accidit
  • Thanks everyone for the replies...

    My mortgage broker has advised that the underwriter has applied for a tenancy reference (am renting) So when they get this it will "go back to offer" ... does anyone know how long this takes??

    Thanks
  • UK007BullDog
    UK007BullDog Posts: 2,607 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    M-A,

    I can see you are very anxious to get your mortgage.

    From application till the end when you are finally the owner of the property (well owner on paper ;) ) could take up to 12 weeks in total as so many different people are involved.

    1. Mortgage broker
    2. Underwriter(s)
    3. Getting more information, in your case getting details about your renting situation.
    4. More underwriting
    5. Surveyor
    6. More underwriting and offer sent out if surveyor report is OK.
    7. Now its the solicitor doing their bit. it can go fast or it can go snails pace, as they might ask for more info and also ask you to sign documents and send them back.

    It can all be done in a month or even weeks but this is quite seldom.

    Platform, well they have their brilliant moments and then also the pits. It all depends on the underwriter you get, how busy they are, if your case is complicated........

    HTH
  • Hi Thanks for the reply,
    Am very excited about the new house, just because of schools, location everything feels right etc, the valuation has already been done (last week) everything was fine no problems etc... Just waiting for the tenancy reference as underwriter has requested this but am unsure how long this takes, after this has been done, mortgage broker has advised it will then go to offer.. so fingers crossed - :)
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.