Timeframe

dlh68

Hi everyone

Am I being impatient or is it taking too long?

I was told last Wednesday by my mortgage broker that my application was with the underwriters and I should be getting a decision/offer in 24-48hrs.

Asked him Friday and he was told they have a large work load and there was a delay.

Yesterday he chased them and was told on the phone everything was ok with my application although he had nothing official but was just waiting for the offer.

Now Tuesday and still nothing? Must admit I'm getting a tad annoyed now.

Is it quite normal to take so long? If so I'll just sit back and hold on but can't help feeling at the moment it's just dragging on a bit.

In total it's about 2.5 weeks since the allocation went in. Survey and valuation was done 3 days later. So all initially moved pretty quickly.

Thanks for the advice everyone.

Crashandburn

Which lender has it gone to?

dlh68

Crashandburn wrote: »

Which lender has it gone to?

It's with Platform Home loans.

Really would like to keep with them as they seem a great lender

Crashandburn

Platform send the broker a checklist of items outstanding at each stage in the process.

Ideally all the items will be submitted at outset but Platform are renowned for adding items onto the checklist where they can. They are taking about 2 days to process documents at the moment so I would be asking the broker if there are any items on the checklist that haven't been satisfied and if so, why not

dlh68

Crashandburn wrote: »

Platform send the broker a checklist of items outstanding at each stage in the process.

Ideally all the items will be submitted at outset but Platform are renowned for adding items onto the checklist where they can. They are taking about 2 days to process documents at the moment so I would be asking the broker if there are any items on the checklist that haven't been satisfied and if so, why not

Hi and thanks for your reply.

Yes they asked last week for a couple of extra things but have everything they need..

He's spoken to them and they have said everything is ok with the application.

Just spoken to him again and it just seems a simple case of them busy really busy processing at the moment so I think I'll just have to be patient.

Just really stressful.

I've been checking my Experian account as I'm guessing they will do another check. This will give me an idea things are moving again I suppose. Am I correct in assuming they will show another credit check?

Thanks for your help though.

Let_Us_See

Not necessarily.

What makes me always laugh is the belief of applicants that the lender only has their application to deal with and any additional requested documents are/should be processed immediately. Currently, some lenders are taking over 10 days to process new documents, so relax a little and let the blood pressure subside.

Crashandburn

Let_Us_See wrote: »

Not necessarily.

What makes me always laugh is the belief of applicants that the lender only has their application to deal with and any additional requested documents are/should be processed immediately. Currently, some lenders are taking over 10 days to process new documents, so relax a little and let the blood pressure subside.

That would be more down to a broker managing the clients expectations. Under promise, over deliver.

Platform are fine at the moment and responding to questions/documents within 48 hours

dlh68

Let_Us_See wrote: »

Not necessarily.

What makes me always laugh is the belief of applicants that the lender only has their application to deal with and any additional requested documents are/should be processed immediately. Currently, some lenders are taking over 10 days to process new documents, so relax a little and let the blood pressure subside.

Ha you are absolutely correct

Thanks

dlh68

Crashandburn wrote: »

That would be more down to a broker managing the clients expectations. Under promise, over deliver.

Platform are fine at the moment and responding to questions/documents within 48 hours

Thanks again

Even my broker thinks its taking a long time to process.

But I suppose if they're busy they're busy, just have to bare with them I know that.