Bank Of Ireland

sparklecity

Yes I am. Mines been pretty quick really (though has felt like a lifetime!) my broker said offers are usually made within a few days of valuation so I would chase them for it. Might be that they are waiting for some extra information and communication has broke down. Good luck

powernap

Our so called offer has been bounced back twice now!!!!


Really don't understand why it can take so long, given that our valuation passed successfully on 24 March. Apparently BOI were going through 'final checks' the beginning of this week, and should be issuing today. Should these delays cause concern?

powernap

So I have just heard from our broker, and apparently there will be no update until Monday. I am really worried that the seller might actually begin to question our ability to get a mortgage and may withdraw.

sparklecity

@powernap have you asked your broker what the hold up seems to be?

My solicitor suggested completing a week tomorrow, but now found out my sellers searches still aren't back so that's going to hold things up!

marksoton

No help to people in the process i know but BOI were my cheapest option but the broker advised against it as they are fussy. I went elsewhere for minimal extra cost.

sparklecity

I don't agree they are fussy. My credit history isn't brilliant and I have a large amount on a credit card and mine went through with no problems relatively quickly, just seemed to take them a while to book the valuation.

Thrugelmir

sparklecity wrote: »

just seemed to take them a while to book the valuation.

Availability of an external surveyor is outside of the BOI's control.

powernap

Well it turns out the reason for the delay is that our app has been pulled for an audit! I am not entirely sure what this means, and whether this is a random check or a flag. All I know is that it will add time to the process and the audit will take precedence over anything else, which makes sense from a lender perspective but will cause this to run into its 5th week!!!! Does anyone have any experience with this?

Thrugelmir

powernap wrote: »

Well it turns out the reason for the delay is that our app has been pulled for an audit! I am not entirely sure what this means, and whether this is a random check or a flag. All I know is that it will add time to the process and the audit will take precedence over anything else, which makes sense from a lender perspective but will cause this to run into its 5th week!!!! Does anyone have any experience with this?

Random internal check that the correct procedures have been followed. Compliance is a major factor these days. There shouldn't be undue delay though.

powernap

Thank you, keeping fingers crossed it is indeed standard and doesn't disrupt things any further.

Audit notwithstanding, I have to say that Bank of Ireland have been really poor in communicating expected turnaround times. We have been pushed back three times, causing anxiety all along the chain, down to the estate agent. I can't see myself recommending them to anyone. We are borrowing a fair chunk, but we are also top decile earners and the way we have been treated is frankly incompetent and disinterested. :mad: