mortgage company taking too long

lost_and_skint

Hello peoples,
I have been waiting for a month for a mortgage offer from Northern rock. we were told to expect it in November but our claim was randomly audited and they wanted a bit more info.

They said it would be fast tracked and take 5 days, now it seems it hasn't been looked at and they do not know when i'll get an answer but they have a managerr looking into it.
They even admitted they weren't running at their best at the moment.

Im looking to lose the house i have and offer on and a lot of money.

is there a chance of compensation here?

Thrugelmir

lost_and_skint wrote: »

is there a chance of compensation here?

No, as they haven't done anything wrong.

lost_and_skint

but we have signed a contract and they have promised to only take 5 days (their policy)

chopper78

You haven't signed a contract, you have filled in an application for which they are under no obligation to say "Yes".

Go shouting for compensation, and see how quickly they respond with a "No".

Biscuit_Nikki

There have been several of us recently moaning about the speed of NR applications. Two of the forum members finally got offers through after lots of phone calls - i am sure one of them mentioned that it took 10 weeks (search for 'Northern Rock Super Slow').
My partner and I finally decided yesterday to jump ship and cancel the application with them. We had not paid out any fees and it was our only AIP so we did not have lots of footprints on our credit history.
Personally we decided that if this was how we were treated at application stage we didn't want to become tied in customers. We were promised that our file was being looked at first thing last Friday after it had been with them for 5 weeks. When it got to late Monday and it still hadn't been reviewed we decided to change. It is now Wednesday and our (old) MA was insisting it was being looked at yesterday 'in the next hour' and he was going to call me back with a decision before we changed. He never called back but it didn't matter as we had already changed (and to a better deal) by that point.

Good luck with them. It's a bit of a gamble as to whether you want to risk the time it will take with another lender and whether the deal they are offering you is worth it.

You can find their current service levels online by searching in google for 'Northern Rock Service Levels'. In fairness over the past few weeks it has shown them as being severly behind.

Meeper

What is your adviser doing about it to assist you?