Skipton building society

craigmmorq4

Hi all

Applying for a mortgage with Skipton directly for their special birthday mortgage at 3.99% for 90% ltv for a new build.

Passed the decision in principle and have submitted the application forms today in the post, does anyone know what their lead time is for saying if we are definitely going to get a mortgage?

Need to exchange contracts with the builder in July first week

ACG

I submitted a mortgage for a client of mine on Thursday last week they came back to me this morning, so its looking like 6-7 working days.

kingstreet

Submitted application and all docs uploaded 24 May.

Underwritten and valuer instructed 5 June.

Valuation done and offered 13 June.

20 days.

craigmmorq4

Thanks for that. What are skipton like at underwriting if the second applicant has been in overdraft a few times but I'm going to be paying the mortgage and comes out of my account which is displayed on bank statements I've sent with application

BlackCat^

Going through the Skipton process ourselves at the moment too.

Took 2 and a half weeks from submission to the underwriters to look at our documents. In our case they wanted to see a couple more payslips above what they ask for on application. This means they 'book' another date to look at the new documents which in our case is an additional week.

So if I were you would 'over submit' above their listed required documents to avoid a setback.

craigmmorq4

Wow that's very slow

nunoamorim

craigmmorq4 wrote: »

Wow that's very slow

Dont even get me started on Skipton's speed.......and professionalism for that matter.

ACG

slow processing and good rates are usually go hand in hand - because everyone wants it. Sometimes its worth paying more for a quicker turn around.

BlackCat^

4 weeks today since our Skipton application was submitted and our valuation has now been instructed :T

I wouldn't worry too much about the builders deadline for exchange. As long as the builders see that you have done what you have been asked promptly and the hold up is at the Skipton end then your solicitor will be able to apply for extensions without a problem.

monkeysrevenge

BlackCat^ wrote: »

4 weeks today since our Skipton application was submitted and our valuation has now been instructed :T

I wouldn't worry too much about the builders deadline for exchange. As long as the builders see that you have done what you have been asked promptly and the hold up is at the Skipton end then your solicitor will be able to apply for extensions without a problem.

We've been told that our documents will be looked at in the next 5-6 working days - did they end up asking for any more documents than the standard ones (i.e. bank statements, pay slips, deposit)?

ACG

Ive just had a valuation instructed - so its looking like its around 6 weeks from app to valuation, then maybe another week until final offer.