Experiences with Woolwich

Mrs_b_4

Hi,

I just wanted to find out how long they usually take?

We started our mortgage application about 4 weeks ago now through a broker. Provided all of the required documentation and they keep asking for more documents. First they wanted to see May's wages being credited in our account even though we had already given the last 3 months wage slips and evidence of payment. Last week they asked for another document to evidence proof of address.

Chased the broker today and he said he will get an update, this was this morning and haven't heard from him. Is this amount of time for an application to go through normal?

The_J

This is bordering on the long side of fair. They aren't great service wise.

betmunch

Woolwich take about a week to do anything, which is fine it they are happy with what you have provided, clearly they are not 100% so are asking for more stuff which takes a further week to be assessed. It will take as long as it takes, just smile and provide what you are asked for

Mrs_b_4

I'm just hoping this is the last thing they ask for. We're not in a chain and were hoping for a quick move.

betmunch

Did you tell the broker you were after a quick move? And is so did you consider paying a higher rate for someone that would do things quicker?

bemma21

Hi

I seem to be the same place as you at the minute with Woolwich.
Started the application 4 weeks ago, and they wanted more documents. Survey was done 2 weeks ago, and still awaiting an offer.

I called them myself today, I was told after sending more docs that it can be 24-48hrs before its processed and another 24-48 hrs before it can be looked at again.

Try calling them yourself on 0800 022 4022, you might find out a bit more.

Good Luck!

Mrs_b_4

Thanks bemma21 I'm going to call them tomorrow and see what they say.

betmunch yes we told the broker about the quick move. he didn't tell us they are slow at processing, if he had of said we would definitely have gone with another provider

betmunch

For me, if someone says quick move theres only one place to place it. At the very least I would have compared the rates so you can make an informed decision on whether you want the quickest or cheapest. Are the solicitors ready? (aside from the mortgage offer)

Mrs_b_4

well we have solicitors ready but haven't started the process with them as the broker advised us to wait until we had the acceptance from woolwich before officially instructing the solicitors and paying the initial search fees.

we would never have gone with woolwich if we knew this. i'm concerned the sellers may want to put the house back on the market if it takes much longer!

betmunch

The broker has given you excellent advice for saving money, but terrible advice for doing things quickly I'm afraid. You should have the solicitors working while the mortgage application is going through. Thats a month wasted now.

Mrs_b_4

We didn't realise it would take so long. I'm really disappointed with the broker. The reason we went through a broker and not direct was for the advice/help/guidance and I really don't feel that he has listened to what we wanted and given practical and realistic advice.