abbey mortgage

tedglen3

Hello, we are going for a repossession property and we need to get the mortgage in place with 28 days or the repo company will withdraw. Our mortgage advisor has said to go with the abbey, are these usually quick at putting through an application?

Crashandburn

Yes. Just take as much information with you as possible ie 3 months payslips, evidence of deposit and make sure all current credit commitments such as personal loans and credit cards are declared with their up to date balances

If this is all done then no reason why they cannot underwrite and instruct the valuation within 3-4 days at the moment

my_definition

our mortgage is with abbey and we went there because our mortgage adviser stopped answering our phone calls. They were very quick with us i cant remember the exact time frame but our flat was also repossessed and we had a tight time frame

Thrugelmir

Use a good solicitor as well, maybe one with a conveyancing team so that you are not reliant on one person.

maximinimim

Back in September 2010 I hoping to buy a repossession property and was feeling quite wary about how long a mortgage lender would take process my application. I went through a broker and they recommended Santander.

I have to say that I couldn't fault my broker as he full prepared me for how Santander processes their mortgage applications as in they ask for a proof, usually takes 48 hours from receipt to get an update / further request for another proof etc. I also had a condition that exchange would need happen to within 28 days or the deal was off.

Santander exceeded my expectations. From application to exchange took 24 days in total. I have to be honest, I was completely prepared. I had all the payslips, bank statements, P60s etc already to go and my broker had every phone number / email address to make sure they could hold of me at any time.

The longest wait seemed to be the underwriting part, there was a few occasions of seeming to wait forever to see if they needed anything else. However, once they were happy, the valuation was booked and done on a Friday, offer received in the post on a Monday.

My advice is to be fully prepared and you should hopefully have no problem.

Good luck!

tedglen3

thansk for reply, when i seen the broker he only asked for my latest payslip and passport? he did not ask for bank statment or anything ?

Wh05apk

tedglen3 wrote: »

thansk for reply, when i seen the broker he only asked for my latest payslip and passport? he did not ask for bank statment or anything ?

Abbey will normally only need the last payslip, broker may need other things such as statements etc for their record keeping.

tedglen3

ok thanks, do you think abbey with query where all the deposit has cvome from, some from gifted and some from selling stuff? morgage advisor says they will not ask?

mrmrsa

I had to provide proof of deposit but this was only a copy of a bank statement and a note from my grandparents who are helping us out with the deposit, I didn't actually need to prove where the money came from though.

Abbey were pretty quick with my mortgage application. I think I got it through about 2 weeks after applying for it. It was actually wrong but this was the broker's fault rather than the bank's so we had to get it reissued and this took a bit longer, about 3 weeks I think.

tedglen3

thanks fo help everyone