Newcastle Building society - slowest mortgage offer in history?

zarf2007

its been 8 weeks now and still in the underwriting process....what kind of systems do they use? coal powered? (ohh...forgot, closed all the mines!!)

this is so frustrating when you see nationwide application to offer in 2 weeks!!

Thrugelmir

Difficult to comment when circumstances are individual.

magpiecottage

I was recently involved in one where the loan was applied for in October and the mortgage offer made in February.

R_P_W

My mortgage with nationwide took six weeks last year

zarf2007

magpiecottage wrote: »

I was recently involved in one where the loan was applied for in October and the mortgage offer made in February.

Now this is worrying me! I was told the underwriting process with them can take 15 working days!

Boobub

We put in our application to the Newcastle 28/03/13 and just like you it has been "stuck in the underwriting process" for the last 4 weeks!!! We have been given numerous time deadlines all of which have been and gone with no offer. Our mortgage broker has now been told by the Newcastle that they will no longer give time estimates as they cannot keep to them!!! My sellers are now threatening to pull out if I can't exchange. It doesn't help that they asked for all the additional info. separately and then each bit waits 7 - 10 days to be looked at because of their constant backlog.

Dave_Ham

Newcastle are very slow, but mitigated by best buy rates in some categories.

If packaged appropriately upfront, we have had mortgage offers and expecting a couple more much quicker than you guys seem to have had though..

You can put potential exchange/completion dates on the case and this will ensure they recognise the timescales.

If speed was important, or a difficult chain; Newcastle BS would never have been a good call but managed the rates still make it attractive.

Good luck for a speedy resolution.