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YBS mortgage process
ali55
Posts: 3 Newbie
Hi all I need some advice if possible.
We applied for a Mortgage with YBS on Wednesday last week and were given an DIP. I went to the full mortgage appointment on Thursday where our application was sent for appeal to an underwriter the same day, this was due to my oh having a student overdraft which was 50 short on pay day (save the lectures I have already given him many) Anyway we paid it fully off and the underwriter agreed to go ahead. We have one loan, earn 60k and a LTV of 88%. Credit ratings came back ok and valuers coming this Wednesday. I went in on friday and paid the fees and offer on house formally accepted, so my question is as I have seen so many bad reviews now of YBS how long untill we get our decision has anyone else been waiting ages? After reading so many bad things I am starting to worry we still might not be acceptedso am worried about paying solcitor her upfront costs. Advice welcome
We applied for a Mortgage with YBS on Wednesday last week and were given an DIP. I went to the full mortgage appointment on Thursday where our application was sent for appeal to an underwriter the same day, this was due to my oh having a student overdraft which was 50 short on pay day (save the lectures I have already given him many) Anyway we paid it fully off and the underwriter agreed to go ahead. We have one loan, earn 60k and a LTV of 88%. Credit ratings came back ok and valuers coming this Wednesday. I went in on friday and paid the fees and offer on house formally accepted, so my question is as I have seen so many bad reviews now of YBS how long untill we get our decision has anyone else been waiting ages? After reading so many bad things I am starting to worry we still might not be acceptedso am worried about paying solcitor her upfront costs. Advice welcome
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Comments
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Don't know how long, but don't pay search fees to solicitor until you are happy with progress of mortgage.
Is the chain fully formed, with your vendor having had an offer accepted along with the others in the chain?
If not, I would have advised you to wait for the chain to form before you commit to expenditure of a mortgage application.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Hi thanks for your reply. There is no chain we dont have a property to sell and sellers have already bought their property and move in Tuesday, tbh we felt quite pressured to pay valuation fees as YBS wanted it done straight away the contacted estate agents same day to get the keys released for valuation. I now after reading all reviews saying how slow they are in giving approval am starting to wonder if we have done the right thing!! We have told them everything supplied all documentation which was requested and all verified by ybs branch, do they do the underwriting there?0
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No. Bradford HQ.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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I think it depends on the branch staff. I applied online/phone and found the service to be excellent. However this was early 2013 so things may not have been as busy. At the time many people on here were saying how bad they were when the applied in branch.0
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Used YBS and love the offset mortgages and friends and family.
Took out mortgage in 2005 in branch with 55% LTV.
Great service from local branch and mortgage centre in bradford0
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