Mortgage needed fast -who to use?

rabster

Hello all,

Had an offer provisionally accepted on a property but vendor says they want to exchange asap (within 2-3 weeks). Best rates on offer are with Yorkshire building Society but just spent 45 mins on hold to even speak to them, which suggests they may be a bit overwhelmed at the moment. Any suggestions for a lender offering decent rates at 80-85% LTV who is able to turn things around quickly?

Many thanks for any suggestions.

alexjramsay1

Hi

Difficult question for anyone to answer - but most companies should be able to produce an offer within 10 days providing you're able to provide all the information upfront. The harder part will be getting a solicitor ready to exchange in that time frame, I suggest the vendors of that property are being a little unrealistic! 4-6 weeks is normally reasonable for a freehold property.

erdd2

alexjramsay1 wrote: »

Hi

Difficult question for anyone to answer - but most companies should be able to produce an offer within 10 days providing you're able to provide all the information upfront. The harder part will be getting a solicitor ready to exchange in that time frame, I suggest the vendors of that property are being a little unrealistic! 4-6 weeks is normally reasonable for a freehold property.

I started mine online with NR, free legals and valuation and good terms. Took 24 days.

rabster

Thanks for the responses - appreciate there's no real way of knowing. Think i may as well apply to the Yorkshire and see how I get on. If there's anybody out there with current experience of applying to them, would be interested to know things are going.

Thrugelmir

rabster wrote: »

Hello all,

Had an offer provisionally accepted on a property but vendor says they want to exchange asap (within 2-3 weeks).

Two - three weeks no way. They are dreaming.

Through the estate agent find out why.

Sleepy_head_2

I've gone through mortgage application, valuation and mortgage offer in 3 working days with Nationwide. I have a 60% LTV though so don't know what deals they do on higher LTV

Sleepy head

Senior_Paper_Monitor

For a simple (i.e not complex rather than a level of intelligence!) client the application/valuation/offer can certainly be done in 7 -10 working days with the right company. But anything can trip that over as dozens of posts on here witness.

Searches take 2 weeks (if you are lucky) - very high risk to start this work (and start building up costs) until you have an offer.

Tell the vendor/agent to smoke something a little mellower !



If YBS service levels are in any way reflected by those at Accord (their 'intermediary arm') then you are going to the wrong company for a rapid turnround !

funfunder

Less than a week this time nat west

Chin

Your dreaming!
It took ybs over a month to offer us by the tine they asked for all documentation, do a survey, pass to underwriters, potentially ask for more documentation.

superbabe612

Sleepy_head wrote: »

I've gone through mortgage application, valuation and mortgage offer in 3 working days with Nationwide. I have a 60% LTV though so don't know what deals they do on higher LTV

Sleepy head

Wow, and I thought ours was quick! Nationwide for me too!
Mortgage application on 11th August, Valuation on 25th (1.30pm), Offer issued on 25th (4.30pm). 40% LTV. :j

Senior_Paper_Monitor

I repeat - an offer is one thing - exchange is another !

The OP is being put under (ridiculous) pressure for the exchange.