London and County - Stay with it or re apply in person?

SpongeyC

2 months ago we applied for a mortgage with northern rock through London and county paid fee and valuation fee.

Valuation was done quickly and proof sent off, about 5 weeks after application we receive an offer £8,000 under our requested amount due to ‘affordability’. we were told to send off some more evidence by L&C which we did and have just found out it has come back again as £8,000 under again 7 weeks on.


The annoying thing about all of this is I am a teacher and have just had my September pay rise so could now probably cover their new version of affordability. To top it off our advisor is off sick has been since wed and we have not been able to get in touch with anyone at L&C other than someone to tell us the above news and told we would be rung back by an advisor which we haven’t.


Should we it call it quits with L&C write off our fees and valuation and re apply with a lender in person as we are now beginning to run out of time and good will with our vendor? What time scale would we be looking at?



If it was going to be rejected on affordability and the amount lowered why have northern rock done the valuation?



Thanks for your thoughts,

Thrugelmir

You really need to speak to your mortgage broker. As they may further insight into the precise nature of the affordability issue.

chichee

I was in the same predicament. Really wanted to use the summer to sort out the remortgage before going back to school. Fortunately, L&C have been fabulous. Contact has been regular and I received a call from them earlier to inform me that Barclays Woolwich have offered on my application.

Be patient and, with some luck, your situation may be resolved.