AIP to full mortgage

aquamarine10

Hi all,

Long time lurker but new user.

Just looking for a bit of advice/reassurance as I'm a born worrier.

Got aip from Clydesdale 4 weeks ago and have had an offer accepted on a house for 20k less than aip. Full mortgage application sent off today (Clydesdale have already seen payslips, bank statements etc). I am now worrying incase anything goes wrong.

IFA said he is confident and not to worry and that it'll take two weeks. I think I just need to relax a bit but it's a v anxious time! Any words from folk who've been in the same circumstances would be appreciated.

harvey115

I have not been in the same circumstances yet but soon to be

I am also going to choose Clydesdale because of my working situation and the Offset deal they have.

Clydesdale do not provide and AIP from what I know, so my broker has given me an AIP from their calculations and speaking to the underwriters. Once I get my offer accepted (which I will be making on Monday), I will be doing the same as you have done.

Best of luck and keep us posted...

aquamarine10

Yes, sorry, you're right. No AIP but underwriter has looked at my case and said they would lend. Don't know why I'm so worried but I really am keeping everything crossed that the full offer is available soon as I love the house we've offered on!

mamamoi

Thought I would share my positive experience. I've just had a pretty seamless mortgage application.... got the full approval today :T. We applied with the Penrith Building Society as we found a good discounted rate with them 2 year SVR at 4.15 discounted to 2.65% (although it doesn't show on their website for some reason?).

Following our offer being accepted. We posted the application to them on Thursday 26th April, got the AIP the following Monday and as I said got the full approval today, so it took 2 weeks exactly from them recieving our forms. Probably would have been quicker but it took 6 days for the survey to happen as it was over a bank holiday.

We are FTB, with a 25% deposit and our references were returned pretty sharpish.

Only problem is... woodworm was found in the homebuyer report so our mortgage is under the condition that we have a full investigagtion and fix the problem. Have posted about that on the house buying thread if anyone can offer advice on this.

Good luck with the whole process, it has been the longest 2weeks in my like waiting for the approval! So I can empathise x

aquamarine10

Hi All,

Just to let you know my mortgage was approved and offer sent today. I am so pleased. It's been 7 weeks since I first applied and pretty relieved it's been completed.

harvey115

Well I applied through an FA at the start of the month and got an approved offer letter on the 27th. So about 4 weeks all together (not bad).

Although I have the offer documents my solicitor has not received their pack yet and are waiting. I will be exchanging by the end of next week (got an extension on the exchange date by the developer) and completing in September (its a New Build).