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Experiences with Woolwich
Comments
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Absolutely nothing to do with the amount of funds to lend. If they want these lenders can borrow at ridiculously cheap levels and lend at 3x the amount.
Gross mortgage lending levels are virtually unchanged in the past 3 years. Whilst mortgage redemptions and repayments have been on a rising upward trend. May 2012 was the first month ever recorded where net borrowing was negative (Source BBA). Won't be the last either.0 -
That doesn't mean there isn't funding available for mortgages. Lots of people are on products which are very competitive and are sensibly paying back their mortgage. It's happening far too slowly for my liking but at least it is happening. The appetite for adding to the mortgage is reduced in times of austerity and the LTV limits also affect it. Why would you pay an extra half a percent on most of your mortgage for an extra 10k?
If people weren't buying strawberries, it wouldn't necessarily mean there were no strawberries.The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.0 -
Santander are knobs.
Worth pointing out that Abbey are quick to show that they are knobs at the moment.
I'm getting silly requests back within 2 hours of answering their previous silly requestI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Worth pointing out that Abbey are quick to show that they are knobs at the moment.
I'm getting silly requests back within 2 hours of answering their previous silly request
I had some absolute corkers back on one of a couple of cases put there way. And then additional corkers from the audit team, all sorts of aggro.
Worth noting to OP and others, that Woolwich can be quick it really just depends on the case and luck of the draw on the call centre vs UK underwriters.
The UK underwriters are really good. Incidentally took an AIP on Monday and the case got offered yesterday so they can be quick...I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Also Clydesdale are a bit slow but seems like they are looking for more business.
They have recently removed the Arrangement, Legal and Valuation fee for new customers. Although not Market Leading rates!0
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