Mortgage in principle-is this normal?!

shays_mum

Hi,
New to this board so bare with me!!

Had a mortgage in principle passed 3 weeks ago, today am ready to proceed as offer accepted.

Here's the thing, the old mortgage guy not responding to emails/calls etc,so case passed onto his colleagues. It seems the mortgage in principle procedure is going to start again as they didn't want to rely on "old info"!!.

My situ if it helps: am literally mortgage free on house £250k am going to BTL rental expected £1400 pm.
New house (offer accepted) £350k. Deposit will be from BTL remortgage.

How can i get things moving faster?! brokers are well known whole market fee free types. Only thing that is going to be problem is OH is selfemployed sole trader 4 years, last year went Ltd. Same company, but as a subbie for many moons........!

Any advice would be appreciated as, as this is the family home & new start for me & don't want to miss out.

Thanks in advance

GMS

In order to get a mortgage in principle the adviser should have completed a fact find. His colleague should be able to verify the details with you and continue with the decision in principle.

Other option would be to approach the lender directly or get another broker who will deal with it efficiently

Dave_Ham

Its hard to say without knowing a little more, although sounds like a sensible plan..

I cannot understand why they would not call you back, no uncommon from some of the bigger boys in the industry from post on here.

I personally hate a lazy approach like this and would look elsewhere.

Good luck

shays_mum

Thx guys, here's the thing didn't even get the paper work to say WHO the MIP was with & the amounts going out each month!!.
Really don't know who else to go to, as this was thru the mortgage guide thru here......any ideas pls pm me!!

GMS

You should have been provided with an illustration of the mortgage for the Decision in Principle applied for. How on earth are you to know if it meets your requirements otherwise.

Sounds like you would be better off with another broker. Don't worry, we are not all the same as your bad experience.