Woolwich - still waiting for offer after valuation

lawlie

Hi guys,

I'm hoping someone can help ease my mind. Our valuation came back fine a good 7 business days ago, but we are still waiting for our mortgage offer to come through from Woolwich.

Does any MA's out there have any visibility on if this is a normal wait time?

My MA hasn't been that helpful and almost refuse to follow up if it is still within the time Woolwich has said it will take (2 BD after the valuation came back, Woolwich said they will respond within 5 working days).

I still haven't had an alert come up from Equifax that my file has been searched although my partners' has.

ACG

Your broker can email the underwriter to say the valuation should have been sent back, can they issue the offer and more often than not the underwriter will do it if it is the only thing outstanding.

Its probably borderline as to whether its within timescales or not, if your broker is sticking to timescales then you are most likely going to be waiting until Wednesday. Strange on your brokers side, you would think they want it off their desk and paying so would be chasing something so close to offer... each to their own though.

jellyfish76

I guess its an in-branch MA and not a broker. Hence their reluctance to chase up?

lawlie

No it's an independent broker that I am getting through work, so I don't know why the hesitancy to chase... any way, I have decided to ask them to chase anyway, even if they get annoyed at me!

7 BD just seems a tad long, especially when you hear quite often of offers being issued the day after the valuation has come back.

ACG

Are you paying him a fee?

My theory is that fee free brokers take on that much work (as they probably need to) applications go in and get worked when they get worked - its like spinning plates.

Personally I charge a fee so I can afford to take on less work but dedicate more time to chase each case if needs be.

If you are paying a fee and they are still doing that, then just give them a kick up the backside. Who cares if you annoy them, they are being paid.

Dick_here

We're currently getting a mortgage through Woolwich. The valuation was done on Thurs, we had the report online on Fri and our broker told us last thing Fri that the mortgage had been approved and we'd hear within a couple of days (now waiting for the formal offer in writing). We'd already been approved in principle prior to valuation though.

lawlie

Hmm that's worrying. E-mailed my MA but didn't hear from them yesterday - going to give them a call this morning so will let you guys know. A bit worried now.

They usually charge a fee but we get it free through work.

ACG

Dont be.

Once your case gets assigned to an underwriter it sits in their queue. They work in different ways, some your valuation will hit the bottom of the pile and be worked when it came in, others will see it as the valuation has come in, I can get this off my desk by issuing the offer.

lady_k_3

lawlie wrote: »

Hmm that's worrying. E-mailed my MA but didn't hear from them yesterday - going to give them a call this morning so will let you guys know. A bit worried now.

They usually charge a fee but we get it free through work.

Do you have a reference number for the mortgage application, If so contact the mortgage department directly on 0800 022 4022 to request progress on application. I had issues with how address was written on valuation report which delayed mortgage offer by nearly 2 weeks and I was ringing them everyday myself as I am not good with waiting for someone else especially my broker. The tracker system takes time to be updated so could not fully depend on that. Good luck and you will have your offer soon.

amnblog

1. Never phone the lender yourself when you have a broker on the case.

2. Agree with your broker when he/she is chasing the lender again and when you can expect you next update. That way no-one need get frustrated or annoyed.

3. Barclays are slow at the moment so the best weapon you can have is patience.

lawlie

So finally got a response today - nearly two weeks later - they need proof of overdrafts. This is stressing me out no end - of course, being environmentally friendly and all that, I don't get paper statements so will have to wait a week for a paper one to arrive in the post. I am SO annoyed!