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Not going to the underwriters ...

Ftba.d
Ftba.d Posts: 164 Forumite
Sixth Anniversary 100 Posts Name Dropper Combo Breaker
in Mortgages & endowments
Just checked process of my application and they said they're waiting on the valuation . The lady said 'this one won't need to go to the underwriters so once we have the valuation we'll get back to you '. What does it mean if it isn't going to the underwriters ?

Comments

  • lee111s
    lee111s Posts: 2,987 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    They're happy with the affordability and everything else.
  • amnblog
    amnblog Posts: 12,764 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It means that it looks like the decision making will be carried out entirely by computer.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • nataliekatemese123
    nataliekatemese123 Posts: 30 Forumite
    Amazing! Who are you going through?
  • Ftba.d
    Ftba.d Posts: 164 Forumite
    Sixth Anniversary 100 Posts Name Dropper Combo Breaker
    Going through TSB. I do hope it turns out to be a positive and I don't find out that the computer has flat out rejected my application ��

    They asked for latest payslip and proof of gifted deposit earlier on in the week . These were then 'worked' (whatever that means ) and now they are waiting on the valuation . Fingers crossed .
  • Ftba.d
    Ftba.d Posts: 164 Forumite
    Sixth Anniversary 100 Posts Name Dropper Combo Breaker
    amnblog wrote: »
    It means that it looks like the decision making will be carried out entirely by computer.

    How could that work though ? Surely somebody has to look at the docs etc. and then arrive at an informed decision?
  • Contemptuous
    Contemptuous Posts: 516 Forumite
    Ftba.d wrote: »
    How could that work though ? Surely somebody has to look at the docs etc. and then arrive at an informed decision?

    Of course a human checks your documents, but they'll just have checked that they tally up with what you declared, income-wise.
    Slummy mummy!
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