Abbey being Anal! FTB help

Dave_Ham

If they decline you, they will refund the arrangement fee...

Fingers crossed for you....

Lbarn

Thanks Dave..... oh well thats good news although I would prefer the mortgage ha!
we have done everything we can now just a waiting game.........

To the OP, i would be very interested to find out your income, best of luck... its soo stressful isn't it!

MiniSis

As far as I know I haven't paid any monies, all I was told was I would a £90 I hold the rate or something. To be honest I'm just so confused with it all, I haven't even been asked for my passport??

My income is just under £30k, but I do have child benefit and tax credits that they have proof of.

Interesting you say about the barriers Dave, if that's the case (this is any lender bit just the abbey) why waste everyone's time Stalling... Just decline if not happy to lend? I'm sure they
Could decline me on affordability as it 4x salary, single person with dependent and a credit card!! I feel sick sometimes with all the waiting!

Lbarn

Did you apply direct or with a broker?
We had to pay arrangement fee and provide passports, wage slips, utility bills etc on
Putting through application

Dave_Ham

Unfortunately, it is just Abbey/Santander that are being particularly unpredictable at the moment.

1 year ago, Abbey were a favoured lender as they were quick, efficient and transparent with decent rates - what a difference a year makes..

I am confident it will only be short term and I cannot imagine they would be wasting your or there time if they had no intent to lend..

I wish you both well...

MiniSis

Hi Lbarn it is being done through a broker. Couldn't imagine doing it myself, too complicated and stressful!!

Thanks Dave, I couldn't imagine them doing that either. Let's hope they just want to make sure the application is as tight as it can be, it's alot of money so can't blame them.

Thrugelmir

Trollfever wrote: »

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

Santander last week announced they are factoring all existing credit comittments into the equation. So taking a much tougher underwriting line.

MiniSis

Thrugelmir wrote: »

Santander last week announced they are factoring all existing credit comittments into the equation. So taking a much tougher underwriting line.

This came up on my application. Broker said they agreed to look at the application under the old rules as it was made before the rule change.

They have all info now so just waiting. It's horrid. I am looking into other options, maybe nationwide.

Thrugelmir

MiniSis wrote: »

This came up on my application. Broker said they agreed to look at the application under the old rules as it was made before the rule change.

They have all info now so just waiting. It's horrid. I am looking into other options, maybe nationwide.

Normally changes in underwriting criteria are instanteous. As the rules will be set by the banks head of risk management with board approval. So I wouldn't assume that you'll receive special treatment.

I suspect that these changes will filter across all the major lenders. As none will feel the neccessity to offer more relaxed underwriting in the current climate.

MiniSis

Oh no I don't expect special treatment, although on the abbey intermideries (sp) outlining their changes it did mention that it would affect all aips that hadn't been made into full applications by midnight of the tuesday, which mine had. I'm only repeating wht my broker has told me in respect of that. I can only assume this has come from the underwriter dealing with my case, if not someone is lying!

Which leads to part of my initial query, if I use deposit money to pay off the CC I will need to borrow £3k more on the mortgage which I don't think I would get. As I know affordability is wht they are checking out for me as its tight in their eyes.