HELP! Abbey Mortgage Declined - appealing now!

GMS

IMF wrote: »

I called him today and asked him about that. Seems like I have picked the worst broker in the world... he claims he doesn't have a BDM and speaks to different people every time??

Just checked on the Abbey website, with my income and outgoings; I don't think I even needed a broker!

You probably could have applied directly. The point of us brokers is to make your life easier. Obviously this has not happened in your case.

Your broker should be moving heaven and earth to get this resolved for you. I hope you get the right result very soon

Burridge60

This might be the Santander approach to suspected rental property which they apply with knee jerking regularity. As your firms address is quite a distance from where you will reside they are being uber cautious about you acquiring the property and then renting it out with a residential rate. Happens a lot with them and they even ask their valuers to be on the look out for rented properties on both remortgage and purchase valuations.

It is not uncommon for the employer address to be some distance from your actual residence as the Head Office address is normally where the HR department is based. This would normally be the address entered for the employer in case a reference is required.

I would have thought Santander would have asked where you actually work and that would have been answered by referring to you.

I wonder if you now reside close to where the address of your employer is and that you are buying some distance away?

IMF

Burridge60 wrote: »

This might be the Santander approach to suspected rental property which they apply with knee jerking regularity. As your firms address is quite a distance from where you will reside they are being uber cautious about you acquiring the property and then renting it out with a residential rate. Happens a lot with them and they even ask their valuers to be on the look out for rented properties on both remortgage and purchase valuations.

It is not uncommon for the employer address to be some distance from your actual residence as the Head Office address is normally where the HR department is based. This would normally be the address entered for the employer in case a reference is required.

I would have thought Santander would have asked where you actually work and that would have been answered by referring to you.

I wonder if you now reside close to where the address of your employer is and that you are buying some distance away?

Spot on there with the last sentence... I am currently "officially" living in Bristol which isn't "too" far from the head office in Cardiff - but I am actually staying back at my parents house in London until I can get a place here myself. The reason I'm staying in London at my parents is because I more often than not have to travel to London!

Should I confess to them that I'm staying at my parents? I didn't bother as all my letters etc are addressed to me in Cardiff and didn't see the point in changing address if I was going to change again as soon as possible...

In the letter my boss wrote for me; he specifically wrote that I'm to work from home or from offices around London.

Ps. thanks to all the others for the responses too! You people are great!

Burridge60

It would probably help the Underwriter who could be placed anywhere in UK (Belfast, Glasgow et al) to understand the reasons for the purchase of a property in this area and that whilst your permanent residence is in Bristol you are staying at your parents in the week to discharge your work related functions.

The worst case would be that they might want to check that address credit score wise but that would only be normal if this was your permanent address. Your broker is right then as you are currently commuting to discharge your functions in London.

IMF

Update:

Abbey got the fax on Friday and today (Monday) they finally approved me. Survey is tomorrow! The property used to be a concrete build but was professionally made a brick build over 30 years ago now. Hope that doesn't cause any issues!

Hopefully not too long to go now. I'm glad Abbey do the underwriting before the survey unlike Halifax who do the survey first!

Any idea how long after survey I should expect the offer? I want to complete as soon as possible!

IMF

Survey done today - any idea's how long before the offer?

GMS

Are Abbey aware that the property is PRC repaired?

IMF

GMS wrote: »

Are Abbey aware that the property is PRC repaired?

Yes they are. They're been given the PRC Repair certificates etc. It was repaired in 1982 I think (don't have the cert on me at the moment but know it was in the 80's)

IMF

According to http://www.abbeyforintermediaries.com/content/lending-criteria

"We lend on PRC homes where they have been repaired to certain standards confirmed by a structural engineer under a PRC approved licence."

This was repaired under a Government Grant in the 80's and has been extended as well in the 90's (with all the paperwork etc) so I hope I'll be ok!

Wh05apk

IMF wrote: »

Survey done today - any idea's how long before the offer?

Currently a few hours.