Woolwich vs Ipswich BS

AJP1_2

Hello all,

I‘m purchasing a shared ownership (resale) property and have been advised by my broker to either go with Woolwich or Ipswich Building Society. He mentioned, however, that Woolwich usually take 8 weeks to process an application. He said that Ipswich on the other hand are fairly efficient and manage to process your application within 4 weeks.

I’ve contacted my Housing Association to ask if it's OK with them and they said that the seller may not like it. They also mentioned that Woolwich usually take a few weeks but certainly not 8 weeks. I went to a Woolwich branch and they claim it takes them around 3 weeks if the application is straightforward. I phoned them today out of curiosity and they said it may take 4 to 8 weeks but at the moment they’re having a backlog!

I phoned my Housing Association and was informed by them that Ipswich are a bit slow. I’m phoning Ipswich tomorrow to see what they say…

So how is it??

My application is straightforward because I’m borrowing less than three times my income, have clear credit and pay off my credit card every month.

From your experience, which one is faster?

Many thanks for your help,
AJ

MortgageMamma

I am having big servicing problems with woolwich at the moment,

I've done two shared ownerships with ipswich this year and whilst they are not the fastest your case is dealt with by one person and the service levels are accurate and good

AJP1_2

So it's Ipswich then.

Thanks for a prompt reply!

Mrs_Optimist

We have just taken out a mortgage with Woolwich and found them extremely quick and efficient - no delays at all.