One for the brokers

In_For_A_Penny_2

csgohan4 wrote: »

interesting, so direct only maybe better in terms of lower interest, but the extra work involved or grief may be counter productive

Just my experience but in hindsight I personally would have gone elsewhere.

TravelBugHappy

When I opened my accounts with nationwide I asked how long a broker appointment would take and they said that they had some that very week - so I imagine it differs across the country (countries) - I wouldn't be put off by delays, not in my area anyway

In_For_A_Penny_2

TravelBugHappy wrote: »

When I opened my accounts with nationwide I asked how long a broker appointment would take and they said that they had some that very week - so I imagine it differs across the country (countries) - I wouldn't be put off by delays, not in my area anyway

I made a direct application online so it wasn't an issue of geographical location. Out of interest how long did your AIP and full approval take to come through?

TravelBugHappy

I've not done it yet but I wouldn't be concerned with putting an application through with them based on delays that other people have experienced.

I'd be much more concerned with putting my application to the right company with the best rates.

If it became a problem then I could always withdraw my application and find a broker/different lender - maybe that's something you're considering after the long delay you have experienced?

In_For_A_Penny_2

TravelBugHappy wrote: »

I've not done it yet but I wouldn't be concerned with putting an application through with them based on delays that other people have experienced.

I'd be much more concerned with putting my application to the right company with the best rates.

If it became a problem then I could always withdraw my application and find a broker/different lender - maybe that's something you're considering after the long delay you have experienced?

Yes indeed.
Though it's always a debate as to whether to sit it out having gone this far (nearly 3 months for an AIP) or start afresh!

csgohan4

TravelBugHappy wrote: »

I've not done it yet but I wouldn't be concerned with putting an application through with them based on delays that other people have experienced.

I'd be much more concerned with putting my application to the right company with the best rates.

If it became a problem then I could always withdraw my application and find a broker/different lender - maybe that's something you're considering after the long delay you have experienced?

You might be able to wait, will the seller be able to? especially if they are in a chain. All things to take into consideration. If the wait is too long, they could pull out and offer to a higher bidder as house prices rise all the time. Sometimes it's better to get it done properly and efficiently than cheaply as possible.

csgohan4

In_For_A_Penny wrote: »

Yes indeed.
Though it's always a debate as to whether to sit it out having gone this far (nearly 3 months for an AIP) or start afresh!

3 months for an AIP is just ridiculous, if I were a seller I would have pulled out by now. Some sellers want a DIP before an offer is accepted also.

csgohan4

TravelBugHappy wrote: »

I've not done it yet but I wouldn't be concerned with putting an application through with them based on delays that other people have experienced.

I'd be much more concerned with putting my application to the right company with the best rates.

If it became a problem then I could always withdraw my application and find a broker/different lender - maybe that's something you're considering after the long delay you have experienced?

I thought mortgage applications leave a hard print on your credit file, the more you have the less desirable you are to lenders

TravelBugHappy

csgohan4 wrote: »

You might be able to wait, will the seller be able to? especially if they are in a chain. All things to take into consideration. If the wait is too long, they could pull out and offer to a higher bidder as house prices rise all the time. Sometimes it's better to get it done properly and efficiently than cheaply as possible.

All of the above is true - however, the fact that an anonymous poster on an Internet forum has waited several months does not indicate to me that I will.

If I saw posters on here saying the same thing every day then I may be concerned - but I don't?

Let's be proportionate....

TravelBugHappy

csgohan4 wrote: »

I thought mortgage applications leave a hard print on your credit file, the more you have the less desirable you are to lenders

Again you are presuming that Nationwide have massive delays based on what?

I presume that direct applications may take a little longer but I don't think that these delays are dealbreakers