Mortgage Offer recieved change property

Dave_Ham

Hi Steve,

This is not a credit score issue, probably inefficiency?

Was it broker or branch?

Going to guess direct to bank on telephone...

BrightStart

Thanks Dave. Yes it is inefficiency by all the parties concerned. So do you think i can accept the original offer or not? I think i will get on the phone to the lender direct as i am not getting any reliable answers from the broker is this a good idea?. Time is running out and i may lose the property if it takes too much more time. Steve

Dave_Ham

Rocket up broker and this can be resolved easily.

Was the survey ok on new property?

You cannot simply just take the offer and move it, it needs to be amended appropriately and a new offer produced.

Subject to survey, this can all be done really, really quickly...

BrightStart

Yes. Survey was fine and agreed to the selling price so no issues there. Thanks. Steve

Dave_Ham

Pester your broker and you will be amazed by the results.

Offer by the weekend I predict.

Call broker, rather than e-mail though as easier to hide...

Good luck and share the good news when you get it.

BrightStart

I called up the mortgage line direct myself to get to the bottom of what was holding things up. It turns out the the Solicitors have not responded to a lenders query and therefore the case has ground to a halt.

This has been resolved i have been told(i wouldn't bank on it though as i was told a week ago this was dealt with) now so hopefully provided there are no further queries from the Lender we might have an offer next week. What sort of things would the lender need to know from the solicitors? I hope nothing to serious.
it makes me wonder why couldn't they ask for these pivotal questions at the application stage so as to avoid these sorts of delays? It's been over two weeks since the survey.

Thanks
Steve

Dave_Ham

This makes no sense, unless you have changed solicitors mid process.

The solicitors are not even involved up to the mortgage offer, so think you need to ask a few more questions...

Good luck

BrightStart

I have been informed by the mortgages rep this is a standard request but they could not reveal the specifics. I am guessing it has to be to do with the change in the property. As that is the only thing that has changed since the last offer they had made. My situation has not changed at all since last offer.

Steve

BrightStart

Have been informed the case with the underwriters now. I thought the underwriters look at the case before a survey is instructed? Is it a bad thing it has gone to underwriters? Do all cases go to them or is it only the problematic cases? The underwriters have not requested any further info is this a good/ bad sign?

I am very nervous and baffled by the whole mortgage process as why did they not do all these checks when they made an offer to me on the first property it took only 5 days from survey to the offer to arrive whereas it is taking almost three weeks on the second property and offer still has not arrived.
It says to me there is a lack of consistency on the way they handle cases.

Thanks. Steve

MelaBella

which lender are you with? I spoke to woolwich and was told they dont do credit check again should the current deal falls through and i go for another property, the credit check is valid something like for 3 months.