Mortgage acceptance or decline - post office

EMX_2

I know it may vary from person to person but just wondering if anyone knows how long the post office take to make a decision on a mortgage application?

Thanks

<sebb>

My initial AIP was instant online. Once I found a property and filled in the form, they came back the next day with formal acceptance and the paperwork was all sent to me within the week.

EMX_2

wow thanks for the reply. We have had ours agreed in principle on line and then received the paper work last week. However it has taken us over a week to get all the statements sorted as they would not use online statements. So it will finally be sent off first thing in the morning. Was just wondering what the next stage is.....

laura19

Took me over a week to get the money I had saved in various accounts put into my current account so I could send a statement proving my deposit. Once they had received my statements I had a reply within 2 days by post of a formal offer. I had a sale fall through and had to apply again for a different house, with different amount and different deposit(had saved more by then) and again, it all went through very quickly. I can't fault them

EMX_2

Lovely thank you for your reply that is great to hear!!
It has taken us ages to get all our statements and payslips together for them but we are finally there.
Though it has been cleared now I have a concern that i have been in my overdraft on my bank account statement over the last three months but will have to see what they say about that.

Did you manage to show the whole of your deposit in one account?
Because like you said it takes a while to move it all around from accounts and £1000 of ours is in premium bonds. We are happy to change these up but realise it will take a while and we are keen to get a decision. We can loan it from parents or get paid next week and can fund it from that. Just wondered how strict they were on seeing the whole deposit prior to a decision?

<sebb>

Hmm, that's interesting. All of my payslips are online and they didn't have a problem with that.

I also never had to show them any bank statements or prove I had the deposit either.

EMX_2

How long ago did you apply?

laura19

I applied first in November and they needed 3 months pay slips and bank statement with deposit in there. The second time I applied stating I had more deposit they did not need another bank statement but they did want another months wage slip as 6 weeks had passed. Sale went through on the second property on 4th Feb 2011 exchanged and completed on the same day

EMX_2

Thanks you