Skipton mortgage through broker - advice welcome

lilmissthrifty

Hi experienced MSErs,

Been on this site for years and use the forum loads but have just built up courage to post!

I've recently applied for a mortgage with Skipton through the broker London and Country. Last time I had a mortgage (few years ago - have since sold my flat) it was with Abbey and process was bit of a nightmare so just wondered if anyone has any recent Skipton experiences to share?

Timeline:

Online application made with L&C on 19 Jan
DIP passed on 20 Jan
Additional documents sent to L&C and scanned in for Skipton to look at on 25 Jan

Application is now with Skipton to look at documents etc.

Particularly interested to hear how thorough and particular their underwriters are. Don't fancy sending lots of endless documentation over and delaying things further!

Also how quick are they at arranging valuation?

Reason I'm so anxious is that our vendor is v keen to move fast and has two other willing buyers in the background just waiting for something to go wrong so they can pounce on the house!

Thanks for much for your advice.

Lilmissthrifty:)

lilmissthrifty

hi everyone,

not that anyone seems bothered but things still haven't moved along with skipton!

documents are in a queue with the underwriter. they should hopefully look at everything (additional stuff was to them on 26 Jan) by the end of the week they've said.

so hopefully after that they'll instruct a valuation to take place.

would be interested to hear experiences of other skipton applicants - particularly how long between valuation and offer? how nit picky are they through documents sent? do they keep requesting lots of info?

and if anyone has had house valued through skipton's valuers lately, were they fair in setting the house price?

many thanks!

catieeb06

Skipton are not not the quickest when processing i'm afraid.

Get L&C to keep chasing, it shouldn't take 5 working days to check over a passport and payslips etc...

lilmissthrifty

thanks catieeb06. I have chased and they just say 'we're looking at documents from 24 jan today so we should be at yours in next two working days.' They seem to look at them in a queue but we'd already queued when they asked for the extra stuff - hate waiting but will try to be patient!

Burridge60

Typical tranche lender advertising headline rates and being unable to cope with the administration that results.

They will come through. Normally a very straightforward lender. Follow on rate a bit steep. MSE thread about them abandoning their BoE base rate link on FSA "approval" had update today. Put me right off as an Advisor. That and them being out of the market for so long during the Banking Crisis (seeking consumer funds but not lending).

How did they exclude other lenders?

lilmissthrifty

Thanks burridge60. Good to know they're usually quite straightforward. Still waiting on a response from them - chased them today and was told they should 'know more' by end of tomorrow. Took this to mean they will hopefully have made a decision and will instruct the valuation!

lilmissthrifty

Well still nothing from Skipton! They are apparently getting people in over the weekend to deal with the backlog so hopefully I will hear more on Monday.

lilmissthrifty

Skipton were as good as their word and today said they had everything needed to make offer. For those interested - they have now instructed valuation which will take place on Wednesday. So now have everything crossed that the valuation report comes back okay.