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Processing Time for Tesco Mortage
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claire444
Posts: 1 Newbie
Anyone have any experience with Tesco mortgages? They have said it can take 8-10 weeks but we really need it to come through in 7 weeks - thanks in advance!
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Comments
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If you "need" to have this concluded in 7 weeks, general consensus would be to look for a different lender.
It seems there are no normal parameters to if you will get the mortgage and how quickly.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Seven weeks? :eek:
Our cases go from application to offer in less than two, on average.
We'd be out of business if allowed lenders to behave like some of those who deal direct only...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 -
You do get to swipe your clubcard!I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
They are getting desperate now, so they plan to accept business from brokers in the near future.
Wonder If I'll get to scan my clubcard?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 -
kingstreet wrote: »Seven weeks? :eek:
Our cases go from application to offer in less than two, on average.
We'd be out of business if allowed lenders to behave like some of those who deal direct only...
Seven weeks isn't unusual in the wider, non-H2B/new build market sadly, although I'd certainly be looking for a different lender if I needed it in 7 and they're saying 8-10 weeks.I am a mortgage adviser.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.0 -
Our latest two non-newbuild apps were offered in 25 (NatWest HTB-MG) and 19 (Skipton 90%) days.
Still well below what is described regularly on here.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 -
Putting aside operational and service standards, with regards to performance, Tesco Bank is accounted separately from the UK segment of the Group, in order to comply with financial reporting regulations. Revenue is up 2.1% Year on Year.
I believe the distribution infrastructure required to sell through intermediaries is a non-trivial prerequisite and the capability to distribute through intermediaries is targeted for the first half of 2016.0 -
kingstreet wrote: »Our latest two non-newbuild apps were offered in 25 (NatWest HTB-MG) and 19 (Skipton 90%) days.
Still well below what is described regularly on here.
Yep, but then there are a lot more lenders out there. Try using Clydesdale Bank! Painful...!I am a mortgage adviser.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.0 -
Putting aside operational and service standards, with regards to performance, Tesco Bank is accounted separately from the UK segment of the Group, in order to comply with financial reporting regulations. Revenue is up 2.1% Year on Year.
I believe the distribution infrastructure required to sell through intermediaries is a non-trivial prerequisite and the capability to distribute through intermediaries is targeted for the first half of 2016.
??????????????I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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
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