Final checks after underwriters??

craaazyuk

Hi,

We are going through the process of applying for a mortgage with Leeds Building Society (really wish I never googled them!!). Anyway our broker has said today that our application has gone through the underwriters and is now having its final checks. Can anyone explain what this means? I assumed the underwriters was the final part before an offer or rejection? I have emailed my broker asking for clarification but she hasn't got back to me yet.

Many Thanks

Sheep

I am applying through Leeds now and we are very nearly there. Once the docs were submitted to leeds it took them 24 hours to check everything and then just to ask for a few additional docs which seemed reasonable to ask for. Once they are happy then they will instruct the valuation.

There are so many horror stories out there about Leeds but they seem to be completely different with us. Really quick at checking docs and using common sense. They are also definitely not looking for reasons to decline so dont worry.

Hope it helps

craaazyuk

Sheep wrote: »

I am applying through Leeds now and we are very nearly there. Once the docs were submitted to leeds it took them 24 hours to check everything and then just to ask for a few additional docs which seemed reasonable to ask for. Once they are happy then they will instruct the valuation.

There are so many horror stories out there about Leeds but they seem to be completely different with us. Really quick at checking docs and using common sense. They are also definitely not looking for reasons to decline so dont worry.

Hope it helps

Thanks for the reply Sheep.

We have been through all the documents stage and had the valuation done on 2nd July, they required more info last week and they had the last of it on Wednesday. We have now been told that the underwriters have looked at it and are happy and it's now gone for a final check. I'm just not sure where it has gone and what the final checks involves, I'm hoping for an answer today or tomorrow about the mortgage. Just this final stage seems to be dragging out!

They have been fine with us so far too, just seems to have slowed down quite a bit since our last bit of info was sent to them last week. I'm just hoping they don't come back and ask for more info or say no!

Good luck with your application.

kingstreet

A lender will only decline at this stage if something reveals an inconsistency between the input data and the document to evidence it.

Final checks means it's sitting in a pile waiting for someone to hit the "offer" button.

craaazyuk

kingstreet wrote: »

A lender will only decline at this stage if something reveals an inconsistency between the input data and the document to evidence it.

Final checks means it's sitting in a pile waiting for someone to hit the "offer" button.

Thanks, hope you're right. Everything should match what has been sent over so I'm hoping it will end in an offer.

kingstreet

I can't think of a single case out of about five hundred we've done in the last two years where an application has reached this stage and been declined by any lender.

craaazyuk

That is very reassuring, thank you. I'm going to keep everything crossed in the meantime just in case!

novice123

any news???????

teffers

Just as a side-note. I've just had my offer from Leeds BS. It took 4 weeks from application submission to the offer letter arriving.

I went through a broker and the only extra 'info' they asked for was an extra 3 months of bank statements. This was due to the way I don't have day to day spending on my income account.

I was pretty worried after reading the stories of how long Leeds take but it was pretty quick/painless.

Hope the OP comes back with good news.

novice123

Thanks Teffers, its been very quick with Leeds. Its been two weeks and we have already had a valuation. How long from valuation to offer?

novice123

craaazyuk wrote: »

Thanks, hope you're right. Everything should match what has been sent over so I'm hoping it will end in an offer.

Any news?:j:j:j:j:j:j