GE Application Time Frame

billybear1

Hello to all those helpful guys that use GE and continue to answer my questions. I have an application in with GE an all my adviser keeps telling me is they have a back log, I have emailed them, it should be tomorrow, then tomorrow, then tomorrow.

Has anyone that deals with them spoken to them recently? I got a letter from them on Friday (dated Thursday) saying they have it, but not sure how long that takes. Can you (as in an adviser) really not pick the phone up on them and just ask whats going on?

The_J

Usually they are really quick...

I'm quite friendly with a senior underwriter though so it's probably not a fair comparison.

billybear1

D'oh! What on earth could be going on then.... I am sure they have had the app, as I have had the letter direct from them! Also, everything else is ready as in searches, contract from seller and valuation by GE... does that mean with offer we could complete in days?

The_J

I'd give them to the end of this week at least, that's still much quicker than the rest of the market.

Once you have an offer you could theoretically complete immediately. That would take a great amount of coordination from all parties.

billybear1

Again D'oh.... because co ordination is not the specialty of any party involved in this process so far. Still thank you for your feedback. End of the week wouldn't be too bad, I just don't like that all I hear is tomorrow, tomorrow, tomorrow and am shocked that they cannot just call and get a realistic time frame.

ACG

Ive got one going through with them at the minute.

There is around a weeks backlog. Make sure they have everything, this is the first time ive used them and ive never known any lender to be so strict with what they need!

billybear1

ACG wrote: »

Ive got one going through with them at the minute.

There is around a weeks backlog. Make sure they have everything, this is the first time ive used them and ive never known any lender to be so strict with what they need!

Ah right..... A weeks backlog isn't too bad but do they make the decision in a day if they have everything? Have you managed to call them directly or do they only deal in email?

ACG

I cant use them directly, i have to use whats called a packager - basically a middle man.

I couldnt tell you, im still waiting on a decision. From what i can gather once they have everything its then a week for them to look at it and a decision is made once they look at it.

I sent them an explanation of some Defaults, they then asked for me to explain the defaults...not entirely sure what more they wanted me to say so ive asked what they want to know.

They also wouldnt accept internet bank statements unless they were signed and stamped by a branch which ive not come across before.

Thrugelmir

ACG wrote: »

They also wouldnt accept internet bank statements unless they were signed and stamped by a branch which ive not come across before.

Import documents into a PDF writer and amend them. Easy to do.

Fraud is on the increase. As the thumbscrew is tightened.

billybear1

Blimey, I have sent pdf versions and haven't been asked for anymore accompanying signed versions, not that I would have any trouble producing them, but haven't been asked for them!

I hope the info I get back isn't that they need EVEN MORE information and then will take a week. As of tomorrow the letter that I got from them will be 7 days old!

ACG

They were pdf versions. I signed to say they were exact copies etc and scanned them in.

Not to worry it will sort itself out eventually.