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Mortgage Application - Is it normally this hard?
Djs
Posts: 1 Newbie
Myself and my partner want to buy a new home. I am 45 and she is 37. We've both been fully employed since Uni. We got together many years ago. My partner had her own flat. My small house was mortgage free ( due to following advice in this site). We kept the flat, rented it out and put some of our savings into the property.
We have a a 50k cash deposit for the new place. With a further 25k wrapped up until June next year. We will also sell the flat which has about 60 - 70k equity.
We have no other debt.
The house we are looking at buying is around 225k. We need a mortgage for 175k initially with the understanding that we will drop the flat money in when we sell it. We will rent out my property.
We need the mortgage agreement before we sell the flat as the property we want to buy is in Scotland. We must have something in place before we are able to make an offer.
We have talked to several mortgage providers with the following results.
All of the following branches are in Leamington Spa, Warwickshire.
The Nationwide, we were put through to our local branch. They were very helpful and promised to call back, but never did. I've been with the Nationwide for over 25 years, so thought that they might be willing to help / interested in the business.
Santander, again very helpful, promised to call back, and never did.
The Halifax, the adviser was too busy to book an appointment, no we couldn't leave a message, no we could not leave a number so they could call us back. This one made me laugh.
The HSBC. They could see us, but not for two weeks.
We also called First Direct. As the house would not initially be our primary residence, they could not help.
Did I just have a spot of bad luck and catch most of these lenders at a bad time, or is this normal? Is it normally this hard to get a mortgage application going with a lender?
Sorry about the moan, but I'm a bit surprised at how difficult this has been so far.
What have other peoples experiences been like?
We have a a 50k cash deposit for the new place. With a further 25k wrapped up until June next year. We will also sell the flat which has about 60 - 70k equity.
We have no other debt.
The house we are looking at buying is around 225k. We need a mortgage for 175k initially with the understanding that we will drop the flat money in when we sell it. We will rent out my property.
We need the mortgage agreement before we sell the flat as the property we want to buy is in Scotland. We must have something in place before we are able to make an offer.
We have talked to several mortgage providers with the following results.
All of the following branches are in Leamington Spa, Warwickshire.
The Nationwide, we were put through to our local branch. They were very helpful and promised to call back, but never did. I've been with the Nationwide for over 25 years, so thought that they might be willing to help / interested in the business.
Santander, again very helpful, promised to call back, and never did.
The Halifax, the adviser was too busy to book an appointment, no we couldn't leave a message, no we could not leave a number so they could call us back. This one made me laugh.
The HSBC. They could see us, but not for two weeks.
We also called First Direct. As the house would not initially be our primary residence, they could not help.
Did I just have a spot of bad luck and catch most of these lenders at a bad time, or is this normal? Is it normally this hard to get a mortgage application going with a lender?
Sorry about the moan, but I'm a bit surprised at how difficult this has been so far.
What have other peoples experiences been like?
0
Comments
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I just read to the end of that and found out you don't want help, you fancied a moan and to compare notes with others in the same boat.
I'm sure there'll be someone along soon to do that...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 -
How long ago did you contact everyone? Surely you are not expecting everything to be sorted in a day...0
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Anybody would think the housing market is booming after 50% of mortgage brokers shut up shop and 30% of branch based mortgage staff were made redundant.
Book an appointment with a broker.0
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