Mortgage Quota?

DracoNoir

Can anyone let the cat out of the bag and suggest that as well as the FCA and internal criteria banks operate with regards affordability, etc., is there some secret order handed down from head office to say that a particular branch can only lend a certain amount/number of mortgages/loans within a period, say a calendar month?

I have another (very ranty) thread here with my experience trying to get a mortgage and it seems that whatever I provide the lender with, they just keep finding excuses not to give a mortgage?

Latest one is they want a particular statement which they know won't land with me until the 6th August. They wont accept any other forms of proof of the balance of the account in question and insist on a statement, almost as if they are deliberately trying to delay things. It has been like this before too when approaching the end of the month with a previous application.

Possible? Or paranoid? #tinfoilhat

ACG

Branches do have targets, but not quotas. There is something called Treating Customers fairly - they could not decline a case because you applied through a certain branch who has already hit their quota but if you applied at a branch down the road you would get accepted.

It is not uncommon for lenders to ask for stupid things (my favourite being a lender thinking bank statements were fake because nothing was spent on the 24th-27th December (2 of those days being bank holidays and the other being a half day). Sometimes you need to speak to the underwriter and explain what they are asking for is stupid/pointless/non existant. You can not always do that if applying directly and have to play chinese whispers with half the company first.

DracoNoir

Well this is what I'm finding with my broker. In fairness he has worked well past his fee and says that he has never come across such a case. I don't want to duplicate threads but I had screenshots of the faster payment I made, a statement of the account the money came from and a screenshot of the account where the money went, showing what they wanted to see, however they don;t seem to want to put two and two together.

We'd ask him to go somewhere else, but this appears to be the last hurdle - we're so close!

ACG

I dont know many banks that would accept screenshots to be fair to the lender. Who is the lender?

Can you not go in branch and get them to print out a statement/list of transactions since the last statements and branch stamp it?

DracoNoir

Santander. The screenshot was only to reference the account numbers.

I went in branch today to do just that. All they could provide me with was I already had - a screenshot of the account balance (credit card btw) which is identical to what my online banking shows. They did stamp it but my broker reckons if they didn't accept mine, they'll likely not accept this one.

amnblog

There are no branch quotas, you are not dealing with a Branch you are dealing with the Intermediary team via your Broker.

Your Broker is doing neither of you any favours by offering up screen shots (presumably from a mobile) to the Lender.

DracoNoir

It was information I was asked for and as explained, that was the only way to offer it. they were screenshots of my online banking screen, taken from my laptop and converted to pdfs. The statements which were accepted without question were simply printouts from the online banking screen (ie, would have been no different had I decided to Prt Scr them myself).

Anyway, thanks for your inputs - its getting a little off topic now.