Mortgage Acceptance

EMX_2

How long should it take for a mortgage to be agreed and offered. My partner and i applied a few days ago. We heard the valuation took place on friday and have now been asked to send off three months of wage slips and bank statements.

i am panicking as my bank statements do not look great having been in my over draft for the last three months they have asked for them for. if it is declined because of this do they write to us or just call?

JSR

Depends on the lender. Mine took two weeks to come through once the application was submitted to underwriting. But I received an e-mail four days before the offer arrived saying it had been approved. Took five weeks from initial enquiry.

EMX_2

thanks did you have any issues throughout it or was it pretty straight forward? i dont think i have any issues other than being in my over draft which might actualy be a major 1!

JSR

No didn't have any issues. One thing that added about two weeks to the pre-application process was that the product I originally applied for was withdrawn so I had to resubmit. Luckily the new product was cheaper!

Thrugelmir

EMX wrote: »

and have now been asked to send off three months of wage slips and bank statements.

You knew this several days ago. So any delay is down to you not submitting the requested information.

EMX_2

Thanks the valuation has now been done and all ok apart from a few niggles that can be sorted.
Over draft has been cleared and 3 months of statements have been requested.
Now just got to wait and fingers crossed the being in my overdraft the last few months on my statements wont have any affect.
Thanks again.

property.advert

With a few clicks of the mouse you can find out whether the lender you are going to approach is going to want your bank statements and other documentation. Why would someone not do that ?

EMX_2

This seems to change all the time though. First of all one statement is requested and then more further on and then it is said none will be requested and then they are.