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Mortgage packager
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I have read that the Solent mortgage services do the majority o the checks etc and then pass to G E. What do G E have to do with it now? Do they do more checks or is it just a case of looking it over and making an offer if we are accepted?0
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Solent or any packager will do the bulk of the checks but the final decision will be with GE. The idea of the packager is it ensures as best as possible everything is with the application before it hits the lender - theoretically saving time. Im not sure thats the case in this instance but its how it should work.I am a Mortgage AdviserYou 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.0
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Ok thank you for your help I'm goin mad waiting!!
how long, in your experience, roughly will GE take to make their decision?
Our broker has spoken to them and they have said it's not officially signed off yet but everything looks fine.0 -
No idea, its been that long since i used them (over 12 months). Things change.
I would say give it a week.I am a Mortgage AdviserYou 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.0 -
GE are very slow, but if you are using them, you have a complex situation and you don't have any choice. Be patient.
A week would be pretty good in our experience.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Ok thanks for your help. Hopefully won't be too much longer now. We are putting down a 30% deposit too and only need a mortgage for £119000 so hopefully that will all help 0
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Hi just an update since we originally posted......
This is our 19th week since putting our application with Solent for kent. Every 7 working days we get asked for something new then as time goes on we get asked to resubmit everything again!we have put complaint in after complaint with Solent and just seem to be getting nowhere. It's gone on for that long now our situation has improved and have been able to put our application with someone else also.
My only advice is you need the patience of a saint. You have to be persistent and make phone calls every day and don't have high expectations.
I really hope yours goes a lot more smoothly then ours0 -
Omg that is a long time!! Did Solent have the application this long or had they passed it to Kent? Glad you managed to find another deal 0
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What kind of % rate are these people offering? 5%+?0
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