Barclays Mortgage time-scale?

jellyfish76

Hi All.

Just wondered if anyone has recent experience with Barclays mortgages. I applied in branch. The track it service on-line says its with the underwriters. Anyone have a rough idea how long this bit takes and how accurate the tracker service is?

Thanks,
JF

ACG

Theyre up to about 7 working days at the minute.

Have you sent everything in?
Declaration form, ID (if needed), bank statement(s) with correspnding payslip(s) and the HTB declaration if needed?

amnblog

Good luck with it!

jellyfish76

Yes, I did it with an advisor at my local branch so she took copies of ID, Bank statements, SA302's etc.

Does that mean is it's 7 working days delay before looking at it or the time to look at it?

Threebabes

We applied the friday, the following saturday we got a text and email to say letter was in post.

ACG

7 working days from submitting to then underwriting picking it up.

It is fluctuating between 7-8 at the minute although they are sticking by 7

jellyfish76

Thanks ACG. The track it service said it had been "submitted" and then later in the day the status changed to "In progress - is with underwriters" but maybe that's not accurate as it would seem very fast.

(I'm trying to arrange a further advance through my current lender to buy the rest of a shared ownership property)

snowscreamer

Here is my timeline from a few months ago if it helps. Pre-MMR enforcement however we were asked loads of livestyle and affordability questions so I reckon they were using the MMR rules anyway (or at least had their system adapted):

07/01/2014 - AIP
31/01/2014 - house found and full application submitted
11/02/2014 - valuation instructed
12/02/2014 - valuation carried out
13/02/2014 - offer issued

So it was all very quick once the valuation was done. Most of the underwriting seems to be done before valuation and then as long as the valuation comes back OK, the offer is issued swiftly. Good luck!

snowscreamer

Oh and I got text messages every time it moved on a step (although of course I did obsessively check on their Track system online!!)

jellyfish76

Thanks !

I know what you mean Snowscreamer. I'm checking that track it thing more than ebay!

snowscreamer

My boyfriend also phoned our branch mortgage advisor shortly before the status moved to "valuation instructed" for an update, I don't know if that triggered it or not... Anyway looking back it was all incredibly smooth even though we fretted about it.