Question re AIP from Abbey

rosalyn1978

Hi everyone. We have an AIP from Abbey for the amouont we need to borrow. My question is, does anyone know when or how the Abbey do their credit checks etc? Before they issue an AIP or after? I have heard somewhere that they do them before the AIP is issued.

The reason I ask is we are in the process of buying a house but are yet to have our valuation. Our FA said that the Abbey wont complete the mortgage application until after the valuation is done so now I am worried that we may get refused! There isnt any reason that we should - no ccjs , late payments etc and we have had a mortgage for 15 years but I do like to worry!

Thanks in advance

Ros

catota

Hi, we are also in the process of buying a house using Abbey and our mortgage application has been accepted-just waiting for a completion date.
The full credit check from Abbey (not the soft foot print check) is done at the start(1st day)-in our case anyway-and an AIP was given. Bank statements, payslips etc were all checked within a few days.Within a week and a half to 2 weeks survey was done. I would assume that having your AIP and your payslips etc back this up you almost certainly have the mortgage subject to the survey. This was also the opinion of our broker. Hope this helps!

Senior_Paper_Monitor

Yes, Abbey do a 'hard footprint' credit check (i.e the full thing) at AIP stage.

However they have a reputation for asking for 'additional items' during the whole process - so ensure you have full declaration at the beginning.

rosalyn1978

thanks so much. They have so far only asked for my husbands most recent payslip but hopefully , as we have the AIP in place, it should just be a matter of ticking the boxes then!

Ros

GMS

What have you provided your adviser with?

I ask for 3 months payslips, latest P60s and 3 months bank statements, as well as usual ID and Proof of Address.

Abbey's system will have requirements for documents at AIP stage. This may stay the same once full app is submitted or could ask for more documentation. Once underwriters pick up the case they can ask for more again.

Abbey's system allows documents to be uploaded so I tend to provide more than they initially ask for as this usually addresses anything the underwriters may ask for meaning no delays in processing/offer production.