Woolwich Mortgage Application Process

jellybean1205

We applied for a Woolwich mortgage a week ago through our broker.

The valuation took place yesterday - but we have still heard nothing from the underwriters? We were still sending off some documents yesterday and the survey was being done.

Is this a weird way round to do things or is it just me?

Any advice and an idea of timescales would be greatly appreciated!

Carnival789

Hi , I used to be a woolwich mortgage underwriter. I can't speak for current practices, but in my day we only went to valuation if the information provided on the application suggested that the case would be agreed.

There would sometimes be issues later on down the line if the supporting documents did not back the info given on the application form (eg - the wage slips showed a lower level of pay than was quoted on the application form).

It might be worth calling your broker to see if they have been contacted by woolwich/barclays - in my day I would have to call the broker of every case I underwrote to advise whether the case was agreed or "unable to lend" (we didn't use the word "declined" lol).

Thrugelmir

jellybean1205 wrote: »

The valuation took place yesterday - but we have still heard nothing from the underwriters?

Surveyor has to prepare and submit their report to the lender. It's not done by telepathy despite the technological advances in recent years.

jellybean1205

Thrugelmir wrote: »

Surveyor has to prepare and submit their report to the lender. It's not done by telepathy despite the technological advances in recent years.

I wasn't suggesting that it was weird we hadn't had the survey report back. I just thought it was strange that the survey had been instructed before we had even had any queries from the lender.

jellybean1205

Carnival789 wrote: »

Hi , I used to be a woolwich mortgage underwriter. I can't speak for current practices, but in my day we only went to valuation if the information provided on the application suggested that the case would be agreed.

There would sometimes be issues later on down the line if the supporting documents did not back the info given on the application form (eg - the wage slips showed a lower level of pay than was quoted on the application form).

It might be worth calling your broker to see if they have been contacted by woolwich/barclays - in my day I would have to call the broker of every case I underwrote to advise whether the case was agreed or "unable to lend" (we didn't use the word "declined" lol).

Thanks for your help. Looks like I just need to sit back and wait. My broker thinks it is going to be Friday before the documents are reviewed and we hear anything back.

Carnival789

No problem. Good luck... I'm sure it will all be fine

jellybean1205

Had the survey report back yesterday and text this morning to say the mortgage offer has been issued and is in the post!