Good sign of Leeds book valuation?

starfish2014

Hi all,

As the title says really - FTB application currently with Leeds, they have requested a few bits of info and booked valuation - good sign? I know these things are impossible to predict but any experience would be much appreciated.

Thanks

Thrugelmir

All part of the standard process. An offer will only be made if everything meets the required criteria. Unless there's something you are aware of that concerns you. Most likely nothing to worry about.

starfish2014

So not really an indication either way?

Kwisatz

hi Starfish2014,

I’m also in the same boat as you – a FTB with Leeds BS and I went through a broker. My application timeline is:

14/04/15 – Submitted all my paperwork
15/04/15 – Leeds BS took out a payment for my homebuyer’s survey
24/04/15 – Sent in additional information (which was asked for on the 20th but my broker didn’t say)
27/05/15 – They confirmed they had received the additional information and will review it. Survey was also instructed (I asked them to do it rather than wait for it to happen as I wanted it before I went on holiday next week. Talking to them, they said they instruct the survey once the application is in a solid position and a successful application is looking likely so if Leeds BS have instructed the survey without you intervening then you’re probably in a good position.)
28/04/15 – Survey done

Leeds say that whatever gets sent to them gets reviewed in 48 after receipt so I’m going to call later today and see if they’ve processed the additional information and have received the valuation. Fingers crossed everything is going well! I’ll update you again later once I know more.

You can find out what their backlog is like by going to: http://www.leedsbuildingsociety.co.uk/intermediaries/service-status/
I think the stage we’re currently at is “Reviewing Applications Sent To Our Underwriting Queue” with sending additional information back and forth. I’ve seen it go up as high as 3 days so far.

Hope that helps!!

starfish2014

Fab thank you Kwisatz fingers well and truly crossed for us both!

Kwisatz

Just called them and they’ve approved it and it’s in the post!

It does very much look like the valuation is the last step with Leeds. Talking to my broker he said other lenders like Virgin get the survey done straight away whereas Leeds do it right at the end.

Fingers crossed for you starfish2014! If Leeds say the survey has been instructed you can call esurv and find out if it’s been received and when it’s been booked in for. http://www.esurv.co.uk/ is the link and the number is 0800 169 9661.

If you’re trying to work out where everything is with Leeds going, http://www.leedsbuildingsociety.co.uk/intermediaries/contact/ shows the number you need to call is 0113 225 7889. Make sure you have your application reference number, it’s 10 digits and you had to put it on top of some of the Leeds forms.

Hope that helps! Good luck!

starfish2014

Great news well done!!