Woolwich/Barclays - it's like pulling teeth!

pinkpiglit

We're buying a new flat, and as our current mortgage is fixed till the end of July 2014, we have to port our existing product to avoid a c. £5k ERC as well as apply for new top-up funding.

I can't believe how hard it is! I initially chose to do it all over the phone as I thought it would be quicker. That was a seriously bad move.

The guy I'm dealing with, while quite nice, is so slow. He's obviously dealing with 101 applications a day and I can't call him (he's always dealing with other people so you end up in a call centre) and he replies to about 1 out of 5 emails.

In addition, the thing that winds me up even more is that I have had to send all our supporting documentation via POST! It took seven (yes 7!) days for them to apparently receive the documentation requested. The stuff is all printed off the internet anyway but I can't email it across to save time because the bank wants "originals". I tried to point out that they weren't exactly original as they were all downloaded from the web (bank statements, P60s etc) but that doesn't matter. I still have to post everything.

Now they want more info, so I've had to post another package, which will take another 7 days to reach the relevant people, and in the meantime our vendor is getting a bit antsy as we don't have our offer yet, and I dont blame him.

Arrrrggghhh. I can see this all falling over with me ending up in tears

Sorry, just really needed to have a rant and get that off my chest.

Thrugelmir

If you email the documentation. All has to be downloaded and printed. Far easier to receive paper copies and authenticate/rescan on receipt.

Processing centres deals with thousands of pieces of correspondence every day. So yes will be delays on occasions depending on workload.

pinkpiglit

Ok, maybe it's the norm. I've only ever dealt with brokers before and I email them all the documentation and then perhaps they print and send it. In this case I can't use a broker as I'm porting so I've had to deal with the bank direct and I am just finding it extremely painful.

It does reinforce one of the many reasons for using brokers. Not only do they take the hassle out of everything, they are easy to get hold of and provide you with regular updates, neither of these seem to be standard practice for Barclays.

Gloomendoom

I did it all via my local branch of Barclays. It was painless and, as it turned out, a cracking deal. I had regular updates by text.

pinkpiglit

Gloomendoom wrote: »

I did it all via my local branch of Barclays. It was painless and, as it turned out, a cracking deal. I had regular updates by text.

I wish I'd done the same.... I went for the telephone option as I thought it was be faster. Turns out I was wrong. I even asked about switching my application to my local branch, but they said I would need to cancel and reapply which in theory could take even longer. Eeesh.

leccyblue

It's all to do with verifying the authenticity of the documents. A broker will look at the documents, scan them (and most likely send/upload them electronically) - but they will also 'certify' them as true copies of the originals.

But I do agree it is a tedious process. The lenders argument will be that by sending electronically, you could photoshop/otherwise alter the documents. But with electronic PDF statements, you could do this anyway on the printed copies.

amnblog

Just for the record you can port your mortgage via a broker.

pinkpiglit

Interesting - I was told I couldn't. Admittedly I only spoke to a fees-free broker seeing as I had to stick with Barclays and I thought it wouldn't involve any work worth paying for. (Now I know I'd have paid just to be rid of this hassle I've had these past few weeks)

However, mortgage has finally been approved subject to valuation. Phew. Now just have to worry whether the valuation will come in at asking price. More grey hairs to come!