Mortgage application-advice needed

sunshine25

Hi. Can anyone offer some advice on the mortgage application process. We applied thru a broker on 4/6 & still haven't received an Agreement in principle. We are requested for additional documents, clarification on outgoing & income etc every 3 days but no feedback. We have a sale of our current is confirmed for 28 July (in Scotland missives complete) so we are getting anxious. Anyone opinion of the delay-is this normal? We haven't had a rejection yet so should we be patient. We are considering trying another lender but worried about the time line 😂

Kynthia

When was the valuation survey completed?

sunshine25

Yes that's been completed and accepted about a week ago apparently but still nothing in writing, just more and more requests for supporting documents

MortgageMamma

Just keep sending the documents as quickly as possible. Sometimes applications can play out like this - once one set of documents are sent in the underwriter looking at your case spots something else and needs more information. Which lender are you using?

sunshine25

Principality, thru a broker. Thank you for your help

MortgageMamma

Principality are a small lender, they can be slow (I've only ever given them 2 cases). However from memory its pretty easy to speak to an underwriter. Why not call them yourself and stress how urgent this is, you can then find out why all the delays?


It can't hurt to ask. You broker may be a little miffed but he/she will get over it.

sunshine25

How long would be a reasonable time to wait before giving up with them and trying another lende? Or am I better to wait? Any advice on timescales would be great.

Mortgage_724433

If you were seriously looking to change lender then you'll need to act quickly. That said if the valuation has already be carried out and you're quite some time in with Principality, you may find the outcome is imminent.

I would put pressure on your broker, as it is their responsibility at the end of the day to keep you informed. From my experience of Principality they do take a little longer than usual to assess cases, but the broker should be able to find out realistic timescales on responses, that way at least you know what is going on.

Personally I would see it out for the next few days and put pressure on the broker.

EJF87

Hi, just curious to see how long you waited for your mortgage offer? We have been waiting 5 weeks since the valuation and still nothing. Also with the principality.