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Do remortgage applications really take 3 hours in branch?
quantumleap
Posts: 294 Forumite
Having looked around for a number of weeks regarding our remortgage application, we have decided upon a product from the Nationwide.
Having contacted them to make an appointment I've been told that we need an initial affordability interview, taking approimately 1 hour to be followed at a later date by a 3 hour interview. Is this now the case with all lenders? Obviously haven't remortgaged in the last 5 years.
It essentially means having to take a day off work and getting the kids looked after!
Having contacted them to make an appointment I've been told that we need an initial affordability interview, taking approimately 1 hour to be followed at a later date by a 3 hour interview. Is this now the case with all lenders? Obviously haven't remortgaged in the last 5 years.
It essentially means having to take a day off work and getting the kids looked after!
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Comments
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Unfortunately, these are the hoops you now have to jump through in this post-MMR world.
You'll find you'll get it done more quickly with a broker as there won't have to be a "showpiece" interview with much of the factfinding done remotely.
You'll also find out if there's any better option out there.
Some brokers don't charge a fee, receiving commission from the lender; others charge. It's entirely your choice to determine the value of your time.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 -
Its crazy isnt it.
A lot of lenders are doing it now.
I know my old employer (a different bank) each advisor is getting through 2 applications a day! There is a month backlog to see an advisor, its crazy.I am a Mortgage AdviserYou 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.0 -
Go with post office. 30 mins on phone for AIP. Full application by post. 3 payslips + P60 in post. Nothing else needed.Changing the world, one sarcastic comment at a time.0
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