Suitability of Broker

Brodiebobs

Just after some advice as im starting to panic about a purchase...

Saw a broker who was recommended to me by a colleague (theres was a simple remortgage though!) seemed really nice and to be knowledgable. Took note of our circumstances (renting current property out and buying new home with 90% motgage)

Said it should be all straight forward. Got an AIP for £140,000. Found a house, had an offer of £125,000 accepted on, was told it was straightforward we'd passed all the checks a quick completion etc.... 7 weeks later were still waiting for a mortgage approval, the vendors are threatening to pull out, the estate agent for the vendor has told me she thinks the broker is useless and that they have dealt with them before and they were useless then too.

Originally the broker recommended santander, they were constantly asking for more information, we'd wait days/weeks for news then they'd request something else. Because of this delay the broker suggested we try Halifax, that was 3 weeks ago and just spoken to broker and they cant tell me what the delay is just I have to be patient!!!!

Is this par for the course or am i being messed about?

Wh05apk

Unless you have "difficult" circumstances such as credit issues or other complications, there would appear to be an issue, Abbey can be very good and quick for properly packaged cases which fit their criteria, this sounds like there is an issue. Halifax tends to be the fall back lender where there is a problem, their rates are far from the best, but they will accept a lot of cases other lenders would refuse.

Are there any issues with your application - credit/job/visa etc?

You need to be speaking to the broker and do not get fobbed off, if there is an issue, they need to tell you, sounds like they may be "hiding" from you.

Brodiebobs

No problems that i know of, this is the thing i would rather be told if there was! But they keep saying there isnt an issue just that this is the time it takes, but the estate agents/vendors/everyone I speak to thinks its not acceptable!

We have a little debt on 0%(have suggested to pay this off before completion but was told it wasnt necessary), our house is renting out for almost 200% of the mortgage on the property only thing i can imagine might cause issues is that we 'only' have a 10% deposit.

We have supplied 3 months bank statements,wageslips, proof of deposit, letter from letting agent verifying projected rent, tax credit/benefit entitlement (even thought they were on the bank statement!) Abbey also requested our contracts (we have both been in our jobs over a year) as husbands wageslips are handwritten they requested a letter from his employer verifying his wage these have been supplied, as has my marriage certificate (married two years ago!!)

ETA no visa we are UK citizens since birth.

Brodiebobs

Obviously my words yesterday worked as had a call today to say we had been accepted and the valuer would be contacting the estate agents to arrange the survey!!