HELP! AIP without credit search? Halifax?

Dave_Ham

hanfrangipane wrote: »

I haven't applied directly yet - I had called them to see what they could offer a few weeks back, knowing that my broker couldn't give us Post Office deals, and he was aware of this.

I called them again today to see what their stance was on Electoral Roll. They are ok with is as long as I can prove identity and are offering a better rate than what broker has found so far.

I've stepped up my own searches today since my Broker said this morning that he didn't know where to apply now. Given that his first application for me was to somewhere that categorically doesn't lend if you're not on the Electoral Roll (I called earlier to check), even though I'm not registered, I don't feel at ease to let him do any more applications on my behalf as he clearly hasn't listened to my initial concerns.

The only reason I'm following the EA 'advice' is to just try and keep the vendors happy whilst everything else gets sorted. All she wanted was what she calls an AIP, but in reality what she was asking for was confirmation of affordability, but I couldn't find a lender where they email you those results until today when I tried Natwest.

So I've not done an AIP any further than the affordability calc stage, and don't want to do that with anyone but the lender than I choose to use and have them do all the credit searches etc.

Whilst you have had a poor experience with a broker, would suggest you qualify everything you are told on the phone/in a branch.

Spend 20 minutes here and the mis-information provided is frightening and therefore someone saying yes/no does not actually mean yes/no

Post Office offer good rates but are seemingly incredibly slow when it comes to processing. You need to factor this into your thoughts when it comes to managing Estate Agent/Vendor expectations.

Good luck

hanfrangipane

Dave_Ham wrote: »

Whilst you have had a poor experience with a broker, would suggest you qualify everything you are told on the phone/in a branch.

Spend 20 minutes here and the mis-information provided is frightening and therefore someone saying yes/no does not actually mean yes/no

Post Office offer good rates but are seemingly incredibly slow when it comes to processing. You need to factor this into your thoughts when it comes to managing Estate Agent/Vendor expectations.

Good luck

Thanks Dave - appreciate the feedback.

I spoke to two people separately at PO today who both confirmed that although not being on the electoral roll would flag a referral, they don't have a blanket policy of not lending to those not registered and I could provide additional ID documentation to the underwriter, along with a letter explaining the delay and the application reference for the .gov site. The second person that I spoke to put me on hold so that he could call an underwriter directly and double check, and the underwriter gave the same info.

Obviously it is still not foolproof, but that would be the same anywhere we applied at this stage.

As a plus note, Nationwide did say that the only reason for the decline was the ER, all other things passed.

My intention at the moment is to keep in the process with PO as far as I can without comitting to credit search whilst I discuss with the Broker about Nationwide.

I think I will be in the ER by 1st August, so we could ask them to reassess at this stage. But, having said that, I really have been put off my broker by his inability to listen to me in the first instance.

Our vendor has only just had an offer accepted on the property that she wants to buy, I spoke to the agent about time delays due to everywhere being quite slow at the moment and she said this was the same with everyone so not to worry about that yet. Obviously I don't want to go with the slowest if I don't have to, but at the same time people have to accept that these things are taking a while just now.

As of yet we haven't been given a timeframe so I'm loathed to go somewhere quicker with a worse deal just for the sake of it.

I hope that doesn't sound too unsensible?!

I appreciate my earlier posts might have sounded a bit headless chicken but there is method in my apparent madness, I'm not trying to deliberately bypass my broker, but had I left it to him today then the property would still be on the market.

Dave_Ham

I totally get what you are doing and why, although whilst I do not like Estate Agents (typically) they are not all stupid.

You are rolling up some stress and constant calling asking if you are there yet, whether you are being transparent with them at the moment or not. You heard it here first.

Also, I always say to people about valuing there own time. If a slightly higher rate costs a few pounds a month more but saves you a call from the Estate Agent every day and answering frustrating duplicated, untimely questions from the Post Office then which is more cost effective?

You sound like you have a fair handle, just you will need to make some judgement calls.

Good luck

hanfrangipane

Dave_Ham wrote: »

I totally get what you are doing and why, although whilst I do not like Estate Agents (typically) they are not all stupid.

You are rolling up some stress and constant calling asking if you are there yet, whether you are being transparent with them at the moment or not. You heard it here first.

Also, I always say to people about valuing there own time. If a slightly higher rate costs a few pounds a month more but saves you a call from the Estate Agent every day and answering frustrating duplicated, untimely questions from the Post Office then which is more cost effective?

You sound like you have a fair handle, just you will need to make some judgement calls.

Good luck

Thanks Dave,

I definitely get where you're coming from. Are PO really that much slower than other places?

At the moment I see my two options as go with broker (despite lost confidence) and ask him if we can sit on the Nationwide application until I can confirm ER info is up to date. This means we HAVE to wait until 1st August at earliest.

Or, I can go with PO direct myself. It might be slightly longer but from discussions today it seems like I can get the ball rolling prior to the ER registration hitting my file. This would put me 2 weeks ahead of the NW process from the off.

The rate difference is 3.89 (no fees) vs 4.19 (also no or small fees if I remember rightly)

I'm also considering the fact that I like to have a handle on things myself (as will be evident from the above!). I do value my time but I'm more than happy to do things myself as, at the end of the day, nobody cares about this happening moreso than myself, so I am more likely than anyone to get my bum in gear and respond!

Control freak through and through, sometimes works in my favour, other times not!

ACG

Or you could find another broker?

Im not banging the broker drum btw, but where there are issues (such as not being on the voters roll a broker will know the proceeses to overcome it with as little delay/issues as possible.

As dave says, it might be a case of going with a less stringent lender/higher rates but if it gets the job done and saves time/stress etc then it can be worth it - but its easy for me to say that as its your money, not mine.

hanfrangipane

ACG wrote: »

Or you could find another broker?

Im not banging the broker drum btw, but where there are issues (such as not being on the voters roll a broker will know the proceeses to overcome it with as little delay/issues as possible.

As dave says, it might be a case of going with a less stringent lender/higher rates but if it gets the job done and saves time/stress etc then it can be worth it - but its easy for me to say that as its your money, not mine.

I was thinking this too ACG - I just don't want to end up in the same boat with someone else that I don't have faith in.

All you guys seem totally clued up but when I speak to people in person I'm less than impressed.

I suppose alarm bells should have rung when I was the one telling the broker that there are 2 different HTB schemes and we couldn't use equity loan on the house we're purchasing!

I'm not bashing brokers in the slightest, I can totally see the value inusing you guys, my nerves have just been heightened massively by this!

ACG

To get 2 bad brokers would be pretty unlucky.

Avoid estate agent based brokers.

The problem is, the PO is new to dealing with brokers. In the main we do not know their systems/processes as we have not had chance to try them.

hanfrangipane

ACG wrote: »

To get 2 bad brokers would be pretty unlucky.

Avoid estate agent based brokers.

The problem is, the PO is new to dealing with brokers. In the main we do not know their systems/processes as we have not had chance to try them.

Cheers ACG - the way I'm feeling, knowing my luck I would get another duff one!!

See what you're saying re. PO, they seemed really good on the phone, although I know they're taking ages.

Such a hard one to call for me at the moment.