Re-mortgaging - so slow!

I_Should_Be_Doing_Work!

Hi Everyone,

I (like almost everyone else who owns a house) decided to re-mortgage at the beginning of the year as a reaction to rising interest rates.

I did this through a broker, who was great and came up with a fixed rate deal exclusive to them through C&G.

I know that there are a huge amount of applications to process at this time, but I have found the whole process painfully slow. (When I bought first time I was completed and moved in within 6 weeks!) In addition they have now decided to withdraw their initial loan offer and offer me a loan for approx. 2k less. (Not too much of a problem - was looking to consolidate a loan as well but that will have to wait now.) I am worried the whole process will have now been re-started from scratch.

Has anyone else had problems with C&G? And does anyone have any tips to 'chivvy' them along a bit?

Thanks

C

toonfish

C&G have taken processing out of the local branches to a central operation, this coupled with their rates being pulled and loads of applications at the same time means they are miles behind.

All you can do is get the broker to keep pestering them but it is very annoying - we have a couple of clients in the same position and the branch staff cannot even get any answers.

Antj29

Was'nt exclausive to your broker, was exclusive to introducers as awhole, so i do hope he did'nt say that to you......lol ( bet he did)

Yes C&G have changed, not like the old days ( hands up as an ex- C&G manager) i got out before LTSB messed them up fully.

Pity, they are still targeted to turn round a straight forward remortgage in 8 weeks,

trouble is you are using free-legals ( i assume) which C&G will pay silly money for , something like £120 per case, so you can not push them anymore.

Your broker should have made you aware of this potential downfall of using the free-legal service.

If it is over 4 weeks since the offer has been issued then you have a right to complain to C&G direct, and don't hesitate in speaking to the branch directly just in case the broker is messing you about.