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neneromanova
neneromanova Posts: 3,051 Forumite
Part of the Furniture Photogenic Combo Breaker
in Mortgages & endowments
OH applied for a Lloyds TSB Mortgage on Tuesday 9th. How long do they normally take to actually give us the mortgage? (yes I know piece of string, but roughly)

Also should we get in contact with the Lloyds Financial Advisor and pester him? or does it not work like that?

We're wanting to complete before Christmas (2 household chain so possible) so we're just waiting on the mortgage.
What's yours is mine and what's mine is mine..

Comments

  • Aspiration
    Aspiration Posts: 532 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Call them, been nearly a week whats the worst they're going to say...Sorry no update yet...
    April 2020 - £102,222 Loans/CC’s.

    Jan 2022 - £0
    Cleared - £102,222

    Jan 2022 - Now time to build suitable investments and a business!
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    At this stage, they should know when the valuer's going out and what, if any, underwriting information is still outstanding.

    I'd call them. It's not unreasonable to know what's going on.

    But that doesn't mean that they will have anything exciting to tell you!

    By the way, while Christmas would be nice, don't get hung up on a date/deadline too much. The house buying process has a habit of hurting you if it's too important to you.

    At the end of the day, what does an extra couple of weeks in to the new year really matter?
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    Quickest I've know with Lloyds = 2 weeks

    Slowest = 6 months

    Average = 7 weeks
  • Batchy
    Batchy Posts: 1,632 Forumite
    solicitor will be the one your waiting on, not the mortgage.

    If your solicitor pulls up his socks then it should all progress smoothly!
    Plan
    1) Get most competitive Lifetime Mortgage (Done)
    2) Make healthy savings, spend wisely (Doing)
    3) Ensure healthy pension fund - (Doing)
    4) Ensure house is nice, suitable, safe, and located - (Done)
    5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Batchy wrote: »
    solicitor will be the one your waiting on, not the mortgage.

    If your solicitor pulls up his socks then it should all progress smoothly!
    Of course, if the solicitor does all the work required and the mortgage gets declined, the OP gets a bill and no house.
  • neneromanova
    neneromanova Posts: 3,051 Forumite
    Part of the Furniture Photogenic Combo Breaker
    Luckily the work has already been done as the house fell through 3 days before completion with the buyer before us. The solicitors said we can use the same work so it's really waiting on the mortgage. The only annoying thing is that I don't know when they close for christmas.

    Thanks everone for your answers though :)
    What's yours is mine and what's mine is mine..
  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    neneromanova wrote: »
    Luckily the work has already been done as the house fell through 3 days before completion with the buyer before us. The solicitors said we can use the same work so it's really waiting on the mortgage. The only annoying thing is that I don't know when they close for christmas.

    Thanks everone for your answers though :)

    Have you asked the solicitor why the previous sale fell through?

    Hopefully not an issue with the property being unsuitable security
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • neneromanova
    neneromanova Posts: 3,051 Forumite
    Part of the Furniture Photogenic Combo Breaker
    it was to do with the buyers buyers not getting their mortgage.
    What's yours is mine and what's mine is mine..
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