Abbey being Anal! FTB help

MiniSis

I have been reading for a few weeks and getting myself more and more worked up about my situation.

I have applied for a mortgage with the Abbey. I have £21k deposit and the mortgage applied for is £119k (so 15% deposit) I have one CC with £3k on that I pay £75 a month. I recently cleared all other debts I had. I got the AIP a few weeks ago, got an offer accepted on a house and went for the full application.

We got my credit reports and found a few discrepancies (no defaults etc) but I wasn't showing on the electoral roll, which was funny as I got a polling card that day! Plus two credit cards are not showing as paid off which they are (faxed statements confirming this to Abbey)

Abbey have been constantly asking for documents almost daily and today is no different. I have provided everything they have asked for, but today they have come back for something I sent last Tuesday as it wasn't signed (It was employer confirmation of a payrise/promotion I have had) I have got personnel to send a letter (signed) confirming the details.

Last week my broker came back to me with regards to the Abbey's change in criteria (taking existing debt into account) but because the application was before the change they have agreed to look at it on the old rules apparently...

So then they came back with the affordability issue. I earn £29330pa I am a single applicant with a toddler. They have my CB and TC details also, but I have not budgeted using TC's as I am likely to lose these in the near future, but Abbey still wanted them.

With regards to the final CC I have, I used the money instead of paying off the £3k to up my deposit to the 15% at my brokers advice. If I pay this off, my deposit will obviously be less £18k instead £21k.

Broker has said if I can't get the letter from my employer asap (which I have got anyway) he could try a different lender.... I don't know what to do! I am worried as I went over my OD by £5 on 8th Feb but this was cleared by a deposit on the 9th so think this would look badly. My OD is clear now anyway and I am in the black.

Basically my finances wobbled a little when I went on mat leave so was earning SMP (plus personal issues hence the single application ), have been back at work 8 months and working to clear as much as I can.

Never realised it was so stressful!!

Thanks!

The_J

Abbey are a waste of space at the moment. I expect they uncovered a massive tranche of bad loans in 2011Q4 because they have gone super weird since then.

Trollfever

The_J wrote: »

Abbey are a waste of space at the moment. I expect they uncovered a massive tranche of bad loans in 2011Q4 because they have gone super weird since then.

Or is it Santander imposing prudent lending policies because of their EU exposure?

MiniSis

I do understand them not accepting the letter because it wasn't signed, but tbf it is from the local authority on headed paper with all contact information!! I'm annoyed as its taken then a week to decide they won't accept it. Now my broker has just informed me he didn't get the fax they were supposed to send... Another day wasted.

Is it worth continuing this application as slow as it is and also look elsewhere (if you can do that??)

My broker said abbey had been pretty good and really quick recently and even he seems to be getting annoyed with them.

It's that risk I guess, the chances of decline. Is it worth waiting for them to potentially decline still or the fact they are going through stuff means its still got a good chance of approval as they could've just declined already.... Anyone with experience want to hazzard a guess!!??

Dave_Ham

I would hate to 2nd guess Abbey at the moment..

They really do not want to lend and therefore put barrier after barrier. They may have been quick because as like me, many brokers have stopped using them...

The fact they are checking all your bits has to be a positive sign though..

Good luck

Lbarn

Oh my goodness.......... we have just applied to abbey/santander so you're not filling me with much hope

How long from sending the application did you hear from abbey??

Lbarn

PS I am hearing from loads of people getting AIP, not getting mortgage.... ive paid the arrangement fee, how many people have and don't get accepted?????????????

POPPYOSCAR

I had no idea Abbey still existed,I thought they were completely taken over by Santander.

Dave_Ham

Old habits die hard - they are Santander now fully, just call them Abbey and obviously not alone...

Good luck

lee_w

i've got my mortgage application with santander on Thursday over the phone, i'm a little worried now

Lbarn

Hope we get it or we are close to 1k down :mad: