Post Office Mortgage

SongBird

mikeyscott wrote: »

7 weeks??! Mmm that's 35 days and yet I've been told circa 40+ which is 8-9 weeks.

So they accepted business from the broker market, but didn't think to hire more stuff or check their internal processes

Nothing changes with PO, hate them when they were a public org, hate them now as a private.

Post Office are still public, it was Royal Mail that was sold off, they are two different companies.

mikeyscott

SongBird wrote: »

Post Office are still public, it was Royal Mail that was sold off, they are two different companies.

Ok sorry, thank you for correcting.

Zoology_Dragon

Anyone had any news?

I made a public complaint last week via social media and our application has now been assessed and moved to the escalation queue. The valuation has also been assessed. They had one more question about my employment (why not ask when they asked about my husband's employment?), which we have answered and apparently we now have a 3-5 day wait for it to get to the underwriter (again). I won't be holding my breath waiting though.

The PO are NOT answering queries right now (for the regular queue) and have a month plus wait for documents to be assessed. This means if you've already waited and they ask for further documents you rejoin the month long queue.

We are hopeful that we'll have concrete news by the end of the week but our broker is looking into a back-up plan for us.

mikeyscott

You rejoin the queue?! That's ridiculous!

They're supposed to be assessing my documents today, will believe when I see it.

I'll add PO to another org I'd like to go bust including Co-Op.

I know many of you will dislike the above statement. With regards to co-op and the various banks they don't deserve to be in business. I admit I don't work for either and never will, so I apologise if I offend those that do...

I also understand those that say these organisations failing would not be good for the economy

Zoology_Dragon

Yes, rejoining the queue is standard practice, it only really becomes a problem when the queue is so abnormally long!

But in other news... we have our mortgage offer! We had a phone call direct from BoI just now saying it's all approved and the documents are in the post. Social media is awesome, though it shouldn't have to come to that.

mikeyscott

Zoology_Dragon wrote: »

Yes, rejoining the queue is standard practice, it only really becomes a problem when the queue is so abnormally long!

But in other news... we have our mortgage offer! We had a phone call direct from BoI just now saying it's all approved and the documents are in the post. Social media is awesome, though it shouldn't have to come to that.

Many congrats


Our survey has just been booked and they've just asked for extra info re my other job over the last 12 months (that was on the application!)


So we'll see.

Zoology_Dragon

Well you are making progress at least, I strongly recommend pestering as much as you can bear it. We ended up on the escalation queue which is a 3-5 day turnaround (though we heard immediately as a result of our complaint). It is nearly two months since our application went in so we have been extremely patient up to just.

Good luck to everyone still waiting.

mikeyscott

Zoology_Dragon wrote: »

Well you are making progress at least, I strongly recommend pestering as much as you can bear it. We ended up on the escalation queue which is a 3-5 day turnaround (though we heard immediately as a result of our complaint). It is nearly two months since our application went in so we have been extremely patient up to just.

Good luck to everyone still waiting.

Yup, which I'm doing, maybe there have been lots of complaints and they're getting their house in order.


I've been asked what did I do at my last company, I've asked the relevance of this (work in IT), but not disclosing what I do.

missanne

Hello!
I'm so glad i came across this thread as i was worried it was just me who was tearing my hair out..

I feel like i'm banging my head against a brick wall with the Post Office at the moment and unfortunately due to going through a broker, they won't even talk to me about my application! I'm a first time buyer and nobody at the PO or BOI will give me any guidance.

We were supposed to complete on 22nd August and still do not have our offer - the vendors are on the verge of pulling out as they cannot wait any longer due to being heavily pregnant, we're living on borrowed time in our rented flat as our contract is up and as soon a new tenant is found we need to leave and emotionally, well i'm exhausted!

Our dates are:

24th June: Mortgage in principle
26th June: Mortgage application submitted
8th July: Advised PO had a backlog of surveys & would be 15 days
15th July: Payslips requested
29th July: Homebuyers survey took place
30th July: Survey came back pretty much perfect!
14th August: Our solicitor sent letter to prioritise our case
15th August: Put complaint into Post Office
19th August: Guaranteed 2 working days until offer
26th August: Guaranteed 2 working days until offer...

It's obvious they are busy and i'm sure it's a pretty hectic place to work right now and they'll be doing everything they can to speed it up - but the communication is absolutely appalling!

Please tell me this isn't normal for buying a house?

kingstreet

It isn't normal.

You have one particular lender dominating a particular part of the market, I assume the 5Y fixed 90% end and you are suffering simple inability to cope with demand.

A sensible lender would have increased its rates a few weeks ago to try to turn off the tap, or at least reduce the flow a bit...