Barclays Mortgage time-scale?

jellyfish76

Checked in the track it thing today. The status has now moved to "Application Final Outcome" and "We require some more information. Your advisor will be in touch." I guess the overseas (India?) underwriters work weekends!

It's agonising! But at least some is looking at the paperwork.

I'm self employed (limited company) and its a shared ownership further advance so was expecting more paperwork.

I recall the Woolwich coming back and asking for 6 months bank statements last time...

BlueberryB

Hi jellyfish

We are ltd company and applying through woolwich/Barclays too. We are using HTB-EL
We applied to nationwide initially but were declined as we didn't meet their new criteria.

Broker applied to Woolwich on 10/06/14 we have sent away a heap of stuff and finally got the valuation stage, still says on tracker that 'valuation instructed will let you know the date...." Got a text the other day from Countrywide saying valuation had been carried out on 17th and report was ready to view. Looked and everything was fine the tracking service is obviously running slow as mine is still on the valuation instructed stage! On the other bit it has moved on to the same as yours "application final outcome" and then says "if we need any more info your advisor will be in touch... "

Hoping it's not too long before a decision yet! I do think it's strange though as we have not paid for a product fee or valuation yet? We had to pay nationwide £305 when we submitted full application when we did that in May but so far broker has not asked for any money?

Good luck, hope we are not waiting too long now

jellyfish76

Thanks BlueberryB

The track it service is good but I'm not sure it doesn't make me more neurotic rather than less!

I was a bit surprised that the MA (in branch) didn't take more paperwork from me. I brought a whole bunch of stuff but she only took SA302s and 3 months personal Bank Statements. I already have my mortgage with them but I'm borrowing a lot more.

As a limited company, did you send your company accounts? The online criteria says they are now required for company directors. My status says I need to send more information so trying to guess what that is!

The MA took my card details for application fee/booking fee when I submitted application.

From the outside, it looks like yours is progressing fairly swiftly. But I know it won't feel like that from the inside. I submitted my application in branch on the 16th and that seems a long time ago :-)

jellyfish76

Oh, you applied the 10th of June, not July :-/

BlueberryB

To tell you the truth, I don't actually know! Our broker has our accountants details and has been dealing with them direct, she has given us all the SA302s required and did a 'accountants certificate' for nationwide so maybe she has used this, she already had all documents for other lender and broker only asked for the newest months bank statements.

We only have 17 months as a ltd co that is what caused problem with nationwide as they required 24m! Hubby has been self employed for years before that though so have all the documents for that.

Yeah I know lol been over a month! Not the simplest of cases though and I am so glad we decided to pay extra and go with a broker as I am pulling my hair now, only knows what I would have been like without her!

jellyfish76

I originally talked to a broker but was told that they couldn't beat my current lenders deal so I am dealing with them direct. I hope that doesn't backfire. The appointment was very thorough.

I did a sole-trader switch to limited company two years ago so have that same change too.

I just checked into the track-it and it's been updated again this afternoon. Same Final Outcome but this time it doesn't say they need more information like before and says the same as yours. Who knows!!

I'll fee better when the valuation gets booked. From what I was told, most of the decisions and checks are done at underwriting and pre-valuation.

antonyc79

We are going with barclays/woolwich got the application meeting Thursday. What sort of stuff do they ask we've been told to bring statements, payslips etc anything else they will want or ask ?

jellyfish76

Payslips if employed, 3 months Bank statements,

Also got asked details of service charge, council tax, childcare costs, any outstanding debts/credit card balances/car loan etc, details of any life cover.

They don't ask about food/ entertainment etc as they use standard figures for those I think.

You also need to bring a passport/ driving license for ID

I brought EVERYTHING and wasn't asked for a lot of it.

antonyc79

Ok thanks, the advisor already took most of that stuff while doing the aip so sounds all ready to go and will hopefully be a short meeting.

jellyfish76

Hmm... I had a a meeting the week before but had to give all the info again.

At my formal application meeting I was in the office for an hour and half.

I also got asked a lot of questions like "what is your plan for illness, increase in interest rate" and "why do you want this fixed rate over..." etc... and the answers where inputted into the computer.

It was fairly time-consuming compared to pre MMR.