mortgage delays

marky_mark40

Hi, i'm a first time buyer. I applied for a mortgate via a broker to Santander and paid £495 booking fee in October of this year. Since then they keep coming back to me with niggly questions, so as i write i still have no answer if they will lend, so the seller (understandably) is threatening to put the house on the market. So should i try some where else (the broker told me the booking fee is nonrefundable) or any other suggestions to get things moving? Thank you

kingstreet

Is there something in your circumstances causing these continued requests for additional information?

Other than trying a new lender, all you can do is return the information as quickly as you can and wait for the lender to process it.

Make sure your broker keeps in touch with the selling agent, reassuring them you are doing everything you can to satisfy your lender's requirements. The agent can pass this on to your vendor to try to allay their fears.

If you do decide to change lenders, there's nothing to say the next one will be any quicker!

pinkteapot

The application has been outstanding since October? That seems far too long! I'd be on the phone to the broker every few days. Have they told you what the hold-up is?

Wh05apk

Also, is there any reason you paid the booking fee upfront?

marky_mark40

Hi, thanks for your replys. I was told I had to pay a booking fee upfront, is this not usual? I have been pestering the broker every other day and he originally told me they were slow because of the euro crisis. Over the last few weeks they have asked for my last Payslip (as it had been over a month since applying they needed this updating), they asked for proof that my wages would not change (letter from work) and how I was going to travel to work (buying further away). On several occasions the broker has said all will be done within 48 hours (from around 4 weeks ago). I do feel I'm being fobbed off. Any advice would be gratefully recieved. Thanks, mark

Chrisj4378

Myself and my partner are currently going through Santander directly as the broker couldn't get the same deal that we could get direct from them. We applied 2 weeks ago today with them. I emailed 1 monthly payslip for myself and my partner and we had the mortgage offer and survey report off them yesterday through the post. They instructed the survey the same day we applied according to the representative i spoke to. We also paid a £495 fee with Santander. £128K Mortgage with 10% deposit.

marky_mark40

Have just tried to go direct to Santander, got past to 8 different depts non could help they said i had to deal direct with broker (just found out he's on holiday til after xmas). Who has responsibility? My bank statement says the booking fee went direct to santander. Is there any way i can get this money back and apply elsewhere? My credit history is good so still non the wiser as to why the delays. Frustrated, Mark

Chrisj4378

When i received the paperwork from santander it states on there that it's not refundable.i cant comment why it's taking so long for you but as i said going directly to santander it's only taken two weeks before we received the survey.

collen

On handling mortgage delays you can actually hand over it to some brokers. There are some instances that brokers are liable for the delay process of your mortgage but if you have extra finances then you can change appeal to other mortgage brokers.