Post Office Mortgage

lizebert

Dynite wrote: »

Congratulations. What's the summary of your dates then?

Applied on 26th June. This was 'keyed in' on 28th June. Application assessed and valuation instructed on 8th July. Valuation took place on 11th July, report received by us on 15th July. Came back 5k below our offer, so re-negotiated sale price on 23rd July (think this change contributed to the delays). Offer received 13th August - just shy of 7 weeks from the initial application!

Pheuw!

Zoology_Dragon

Our application rejoined the queue on the 1st August so I'm starting to feel like we should have some news soon...

Dynite

We recieved our offer today!

So timelines up until now has been full app submitted 27th June 2014; referred; fees paid 1st; application 'accepted' 3rd. Documents request letter received and docs sent back immediately on the 16th ish;

Valuation was finally scheduled but not until 31st of July. 6th August hear the the valuation had come back 15k under offer. 1 week delay renegotiation with vendors, then emailed under writer to proceed with new (lower) figure which was offered today ~26 hours later.

So all in all, 3 days for referred AIP, then 27th June to 14th August. Quite a slow and stressful process.

lizebert

Dynite wrote: »

We recieved our offer today!

So timelines up until now has been full app submitted 27th June 2014; referred; fees paid 1st; application 'accepted' 3rd. Documents request letter received and docs sent back immediately on the 16th ish;

Valuation was finally scheduled but not until 31st of July. 6th August hear the the valuation had come back 15k under offer. 1 week delay renegotiation with vendors, then emailed under writer to proceed with new (lower) figure which was offered today ~26 hours later.

So all in all, 3 days for referred AIP, then 27th June to 14th August. Quite a slow and stressful process.

Indeed! Feel much more cheerful now! Congratulations:T

mikeyscott

I've heard more and more valuations coming in lower, we submitted ours a few weeks back via L&C, and been told this morning they are working on 30/07 applications. Think it's going to be a long wait.


Also a bit nervous re valuations, from my property and the one we are looking to purchase.


Given the horror stories I wish I'd gone with someone else. I've hated PO when they were a public body, seems like my dislike is still valid

lizebert

mikeyscott wrote: »

I've heard more and more valuations coming in lower, we submitted ours a few weeks back via L&C, and been told this morning they are working on 30/07 applications. Think it's going to be a long wait.


Also a bit nervous re valuations, from my property and the one we are looking to purchase.


Given the horror stories I wish I'd gone with someone else. I've hated PO when they were a public body, seems like my dislike is still valid

To be fair, the backlog seems to be with the bank of Ireland...

Mortgage_Mark_2

lizebert wrote: »

To be fair, the backlog seems to be with the bank of Ireland...

All of the mortgage admin is Bank of Ireland, they provide the mortgages for Post Office.

mikeyscott

lizebert wrote: »

To be fair, the backlog seems to be with the bank of Ireland...

I accept that, but it's Post Office that offer the product.


Anyway let's see how things roll.

Zoology_Dragon

We've just asked our broker for an update, it's two weeks exactly since we rejoined the queue and she told us then that it would be at least 10 days (I assume working not calendar) before we'd hear anything.

bingobangobongo

Just posted back all the forms, payslips etc this morning. Had to get passports verfied for my wife (hope it was done right!).

Valuation was booked a couple of days ago.

Looks like they are working on post received on the 18th July, so it could be a long wait before they even look at all our documents...