Virgin mortgages

deegsy

Hi Has anyone had the pleasure of going through virgin for a mortgage?
My buyer is currently on week 11, yes 11 weeks into there application and still no offer?
Are they really that slow or is this an isolated case? Apparently they only need one more document signing, does anyone know there processing time for documents?

MortgageMamma

No, they are not normally that slow have there been other issues such as problems with valuations etc?

Is your estate agent talking to their mortgage broker? *assuming they have one

csgohan4

I would be worried they are stalling for time.

11 weeks you could have exchanged and completed by then.

It's entirely reasonable to increase the price as the market has changed or remarket it at a higher price.

By 4 weeks I would have re marketed without a mortgage offer

Ralph_T

They took just under 3 weeks for me (from app to offer), and that was during busy March!

deegsy

There have been many different delays

1. it took 4 weeks to instruct a valuation
2. employers reference took 4 weeks to come back which in turn put all the payslips out of date so much they had to be re submitted.
3. a declaration form had wrong address and had to be re sent
4. the form was then written in the wrong colour ink and had to be re submitted
5.the the same form they said the signature was too faint and now they want it sending again
6 the buyers are now on holiday for 10 days (they thought they would be moved by now they said) so the form can't be sent till next week.

in between all these delays you have to take into account the postage times and 3-4 days to assess each document.

I am just about at my wits end with it all, stuck between a rock and a hard place as if i pull out i will most definitely lose the house i am purchasing.

csgohan4

deegsy wrote: »

There have been many different delays

1. it took 4 weeks to instruct a valuation
2. employers reference took 4 weeks to come back which in turn put all the payslips out of date so much they had to be re submitted.
3. a declaration form had wrong address and had to be re sent
4. the form was then written in the wrong colour ink and had to be re submitted
5.the the same form they said the signature was too faint and now they want it sending again
6 the buyers are now on holiday for 10 days (they thought they would be moved by now they said) so the form can't be sent till next week.

in between all these delays you have to take into account the postage times and 3-4 days to assess each document.

I am just about at my wits end with it all, stuck between a rock and a hard place as if i pull out i will most definitely lose the house i am purchasing.

I am surprised the vendors you are buying off has waited this long, Either way Good luck, seems like incompetence from the solicitors side

ThePants999

Yikes. Crazy! We were circa 3 weeks from application to offer, in February.

ACG

None of the delays are really down to Virgin. I dont mind virgin, they do tend to be quite quick. 11 weeks is a long time though.

Could they not have signed the form and emailed it over? It seems a little crazy to wait 10 days whilst they are on holiday in this day and age.

deegsy

None of the delays are really down to Virgin. I dont mind virgin, they do tend to be quite quick. 11 weeks is a long time though.

Could they not have signed the form and emailed it over? It seems a little crazy to wait 10 days whilst they are on holiday in this day and age.


I think that has been the problem with the form as it has been scanned and emailed the signature has become to faint so now they want it hand written

deegsy

MortgageMamma wrote: »

No, they are not normally that slow have there been other issues such as problems with valuations etc?

Is your estate agent talking to their mortgage broker? *assuming they have one

No the valuation has been fine and they are using the estate agents broker so they have direct contact so information has been good from them. I think if i wasn't getting up to date information from the EA i would have pulled the plug by now.