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New Mortgage speed record! Hats off to the Post Office.
martinsurrey
Posts: 3,368 Forumite
If anyone needs a fast mortgage the Post Office seems to be running on greased lightning!
Sunday evening: Full application submitted, instant approval subject to underwriting and
Survey.
Monday: call from underwriter to check some details – letter in the post asking for documents
Tuesday: Letter arrives, Valuation booked.
Wednesday: documents sent back to them.
Thursday: Valuation done.
Friday 3pm: Text informing us that the offer is in the post to all parties.
4.5 working days from application to offer.
(this was on their 75%LTV 5 year 2.98% fix, for a new purchase)
Sunday evening: Full application submitted, instant approval subject to underwriting and
Survey.
Monday: call from underwriter to check some details – letter in the post asking for documents
Tuesday: Letter arrives, Valuation booked.
Wednesday: documents sent back to them.
Thursday: Valuation done.
Friday 3pm: Text informing us that the offer is in the post to all parties.
4.5 working days from application to offer.
(this was on their 75%LTV 5 year 2.98% fix, for a new purchase)
0
Comments
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Pretty impressive!0
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That's good
We recently had something very similar with Nationwide: 4.5 working days from application to offer:
Friday evening (8pm): mortgage broker put in formal application
Monday: received text to say valuation has been ordered
Thursday: valuation carried out
Friday lunchtime: received text to say the valuation was satisfactory and the mortgage offer has been given0 -
That's pretty good going 0
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Perhaps they should apply these good service standards to their core business. Would make a nice change :rotfl:0
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My recent best was an application to Halifax submitted on Tuesday, offered on Thursday.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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