Experience of post ofice mortgages

bargainbinner

Hi

Does anyone have any experience of post office mortgages? ie speed etc.

I have been told by the estate agent if I do not have the surveyor in by end of sept it is going to auction.

Zoology_Dragon

Extremely slow! There's a thread about the PO somewhere.

MLSY

hi bargain binner
most lenders have some issues at the moment but i would hope you would get a valuer sorted by end of september as long as you submit all paperwork to the lender upfront - some are quicker than others though- Post office advertise average 28 days to offer on broker site

Mortgage_Mark_2

https://forums.moneysavingexpert.com/discussion/5007756

bargainbinner

Thanks, payment was sent to them 9/8 and received a txt saying I will hear within 7 days on 11/8 which will be tomorrow so wait and see. No bank statements etc sent to them yet .

attila_

Stay clear. There's two threads already on this setup recently

mikeyscott

Wish I had

bargainbinner

Spoke to them yesterday and they said turnaround with underwriter is 7days. They are 7 days behind so should hear by monday, fingers crossed as just spoke to the estate agent who said if no exchange of contracts by 1/10 it will go to auction

Anyone any idea what happeneds to the fee I paid for mortgage if it doesn't happen??? ie do i loose it or get it back?

kingstreet

bargainbinner wrote: »

Spoke to them yesterday and they said turnaround with underwriter is 7days. They are 7 days behind so should hear by monday, fingers crossed as just spoke to the estate agent who said if no exchange of contracts by 1/10 it will go to auction

Anyone any idea what happeneds to the fee I paid for mortgage if it doesn't happen??? ie do i loose it or get it back?

See section 8 of your key facts illustration.

Zoology_Dragon

bargainbinner wrote: »

Spoke to them yesterday and they said turnaround with underwriter is 7days. They are 7 days behind so should hear by monday, fingers crossed as just spoke to the estate agent who said if no exchange of contracts by 1/10 it will go to auction

Anyone any idea what happeneds to the fee I paid for mortgage if it doesn't happen??? ie do i loose it or get it back?

They are not seven days behind, we were told yesterday that they were working on documents received on the 21st July. That's more like a month behind.

Thrugelmir

bargainbinner wrote: »

who said if no exchange of contracts by 1/10 it will go to auction

That's a difference to having the survey done.

Buy it at auction.