What exactly is a "fast track" mortgage and how long do these generally take?

booboomania

Our broker now has everything he needs to process our mortgage application tomorrow.

This is a 'fast track' application, and just wanted to check what this is. I'm guessing it is just a quicker way of appplying? In which case when would we be likely to receive a decision? The mortgage application will be with Accord if that makes any difference.

Thanks.

kingstreet

If your credit score and LTV match the lender's requirement, you will not be asked for evidence of income.

However, a reasonable sized sample of cases is audited and that means you could be asked to provide P60, payslips and bank statements just at the point you are expecting your offer to be issued.

Decent advisers collect all the stuff that might be required, just in case and hold it on file.

booboomania

Pleased to hear I have a decent advisor then as mine has already gathered all of those documents!!

Any idea how long these applications tend to take?

rinkydinkpanther

I just got a next day decision from Abbey on their fast track.

kingstreet

booboomania wrote: »

Pleased to hear I have a decent advisor then as mine has already gathered all of those documents!!

Any idea how long these applications tend to take?

Last reports suggested Accord are way behind. On a fastrack case, you might get through quicker as there's less to go wrong. String measuring?

booboomania

Oh well, will have to wait and see... something that I'm not very good at doing!