Waiting forever for mortgage offer - can I apply for another?

Tiger_greeneyes

back2square1 wrote: »

Thanks Tiger sorry I must have been confused with all the information I have been getting told by mortgage broker and the questions that I have been asking etc.

Sorry if my comments have mislead anyone, I did not do this intentionally.

It can be really confusing, honestly - don't worry!!!

jackie_w

Ive just arranged my mortgage with Abbey through a broker.

I went to see my broker last Wednesday (21st), and he called me today to tell me that the mortgage offer had been received and everything was okay.

Jackie

Caz2_2

HI reading about the abbey with great interest. My solicitor is waiting to exchange contracts on a property for me which should have been done 1 week ago but i am again waiting for my 5th mortgage offer from abbey. This morning I was told by an advisory that we had the mortgage and could exchange- the money was coming in other words and a new offer in the post tomorrow. The mortgage department however told me that i have to wait for the valuer to decide if a retention was needed or not and this could take 48 hours. I have been on the phone 2 hours and have blown my top. Tomorrow should be the day that we know if we have a new offer. The abbey have mucked it all up. We kept getting new offers because they kept changing their minds. Sorry I dont want to scare people but even my solicitor is going mad. PS Does anyone know how i stand legally on this, contracts have been signed and I have been offered verbally the mortgage i need twice now.
Thanks

Tiger_greeneyes

AFAIK, legally they've done nothing wrong. You've signed contracts but not exchanged - you can't exchange until you've had your offer of mortgage. It's obviously been going on a fair while if your solicitor has got to signing contracts stage.

Can I ask if there was a problem with the house as far as the surveyor is concerned? If so, and you had to either get works carried out or needed reports done for the surveyor, this could well have been the reason you're where you are now. It can happen, and it's unfortunate, but it's protecting you in the long run. Anyway, I'm surmising!

rafraf03

Hi,

I am also very interested in knowing how your application progresses as I am having the same problem.
I am also using a broker...
I Got an AIP on 19th Feb
Applied for the mortgage on the 27th Feb (They actually could not find the application and the broker had to send the application 3 times before they could process it...). SO the application was only taken into account on the 9th March !!!
Sent all the docs on the 13th.
Since then they keep on asking for more and more documents.
I tried to ring them to see what was happening but obviously they said they would only talk to the broker ...
I rang them again today (my broker is awy on holiday) and now they were asking questions like "why is my salary paid with a fast flow transfer and not a BACS?". The finance guys could not stop laughing !!!

Anyway, I am hoping to get a response very quickly.

All I can say is that the product I have applied for is proving very popular and I think that Abbey has been swamped with the demand ...

Good luck anyway !

machofairy

I sent a fax to my broker saying I would apply for another mortgage if no offer was received by the end of the week. I got a callback within an hour. Normally, he'd take over 24hrs to call me back, if at all. Said that the Abbey had shut one of their processing centres and therefore another centre is taking over the workload, hence the delay. Still no definite dates been given, but the quick response gave me some hope.

Anyone heard about this centre that just closed?

Tiger_greeneyes

The centre should be named on your Home View report - on the front page. There's loads of mortgage centres all over Britain. I'd say it's probably merging with another mortgage centre because more and more things are being done electronically these days. They made me redundant because of the same reason.

Caz2_2

Hi to all. Just to explain the cottage we are buying does need work doing on it. We told them all that so because we were only borrowing 70% of the value the abbey said they did not need a retention, so all set to go- perfect. The first offer comes with a 20 grand retention on, the mortgage advisor goes mad gets it changed so we now get a second offer sent. The second one now says we need a structural survey done, so that is done and sent. A third offer comes saying we need a structural survey done and a new clause about the home we live in and the mortgage on that (its a holiday home). A forth offer comes saying ok its a holiday home but they need the survey--- they had had it 2 weeks so a second one is sent. Another offer comes exactly the same as the last one, this is the fifth offer. We get an apology because they found the original survey now they have 2. We then get to go through a more senior sales team person and he rings this morning to say its good news we get the full mortgage and no retention. I ring the mortgage center to check it out oh no thats incorrect its gone back to the valuer because although the structural report is fine we all need to now if the retention can be dropped. I get a full apology but nothing changes still bloody waiting. They are ringing the surveyor tonight and maybe a new offer by Friday. I am absolutley sick to death of Abbey. I did not know it could be so hard to buy a non perfect house. PS I have found the mortgage center the best up to date of the lot and I think once you get your first offer ring them regularly, number is on the offer. I will let you alll know what happens

machofairy

Tiger_greeneyes wrote: »

The centre should be named on your Home View report - on the front page.

The HV report cover letter only had Abbey House, Milton Keynes M9 1AN on the top right corner. There are no ref numbers or anything else but the address of the property surveyed. I thought this was only the head office.

Tiger_greeneyes

It's definitely on page one of the survey report - under section 1.

Should say something like:

Originating Mortgage Centre/BDU: xxxxxxxxx

I've got my Home View report handy so I checked!