Clydesdale and London & Country - an ongoing tale of delays and miscommunications

MikePJ

harvey115: just don't expect anything to happen quickly! Every document you send to Clydesdale will take a week to process. If your vendor is champing at the bit for a quick sale, you may come unstuck.

harvey115

I should better ask my broker to look for other lenders given my situation is a bit restrictive to start with.

The_J

For your situation harvey, Clydesdale does tick a lot of boxes.

harvey115

The_J wrote: »

For your situation harvey, Clydesdale does tick a lot of boxes.

Any alternative lenders for me?

harvey115

Just checked with my broker on this delay and was told that they were slower due tot he good rates a couple of months ago but should not be a problem now.

Also my broker mentioned that Clydesdale does not provide an AIP (a little strange?), so she will be sending me an email outlining the amount the underwriters will be willing to lend to me.

The_J

No Clydesdale don't really have an AIP stage.

Can't think of any other lenders harvey but I don't know the full situation. I think worth a shot with them, you might get lucky.

MikePJ

An update on the ongoing saga:

Following betmunch's comment, I called the retail mortgage department at Clydesdale to make a complaint. Within an hour I was phoned back by the manager of the intermediaries department who said that L&C had consistently failed to provide timely responses to requests for additional information about the application; that the original application form had been poorly completed; and that the application still needed approval from the valuers, underwriters and a credit check, all of which would take another two weeks.

I've subsequently called L&C to complain and hear their manager's side of the story - but I've had a really busy day at work today and missed his calls whilst I was in meetings. Anyway, the vendor's put the house back on the market... so we'll see if he gets a better deal from anyone.

If Clydesdale are telling the truth, L&C have been incompetent, inefficient and provided me with inaccurate estimates of how long the case would take to approve. I wonder who is right?

The_J

Haha crafty little !!!!!!s. You'll never get to the bottom of that, best of luck.

harvey115

That is very disappointing to hear, its quite typical to play the blame game although I would not expect L&C to be quick on these things given that they make their bread and butter with this.

I hope you get a good deal, maybe the house might come back with slightly less price the second time.

I am about to check out a property on Tuesday may be as well. If things go well will be putting down an offer. My broker (contract financials) have been quite helpful in providing me with an estimated AIP certificate depending on my income for any estate agents in case I need it for an offer.

betmunch

MikePJ wrote: »

An update on the ongoing saga:

Following betmunch's comment, I called the retail mortgage department at Clydesdale to make a complaint. Within an hour I was phoned back by the manager of the intermediaries department who said that L&C had consistently failed to provide timely responses to requests for additional information about the application; that the original application form had been poorly completed; and that the application still needed approval from the valuers, underwriters and a credit check, all of which would take another two weeks.

I've subsequently called L&C to complain and hear their manager's side of the story - but I've had a really busy day at work today and missed his calls whilst I was in meetings. Anyway, the vendor's put the house back on the market... so we'll see if he gets a better deal from anyone.

If Clydesdale are telling the truth, L&C have been incompetent, inefficient and provided me with inaccurate estimates of how long the case would take to approve. I wonder who is right?

I would be very surprised if Clydesdales complaints people gave you anything other than factual information. My moneys on L&C causing the problems.

Good Luck with getting to the bottom of it, let us know if theres anything else that comes out of the woodwork