Bank being dificult

missmoose

Just curious is this common practice or has someone got the wrong end of the stick.

Got a Mortgage promise with NW before Christmas.
Rang today to get an appointment for a formal application.
Got told I need a mortgage promise in branch before getting an appointment for the full application.


WHY let me do the promise online if I STILL have to go in branch for one? Massive waste of my time and it was DEFINITELY a mortgage promise and NOT just their little calculator thing.

Thrugelmir

Nothing to stop you applying online for the mortgage.

By you going in house the NW will need to cover themselves fully. As in essence you are seeking now advice.

missmoose

Thrugelmir wrote: »

Nothing to stop you applying online for the mortgage.

Not true, certain types of mortgage you can't get online
this is a quote from their website
"You cannot apply for a Right to Buy, shared equity, interest only or 95% mortgage online."
One of these is what we are going for.

da_rule

So, you got a mortgage promise online for a type of mortgage that you can't actually apply for online?


Sounds a bit strange.


But it's their money and you'll have to just grit your teeth and play by their rules. Maybe ask them why they give mortgage promises online for products that aren't available online and why this promise cannot be brought into a physical branch?

missmoose

Very strange considering that they will accept a Mortgage promise done on the phone but not online.
I will ask these things if we eventually jump through all their dumb hoops and eventually get an appointment to apply in store.

ACG

Who is NW? Nationwide? Natwest?
If it is natwest the online mortgage promise is nothing more than an affordability check, no credit check is carried out.

kingstreet

missmoose wrote: »

Don't see why I should pay someone to do something that I can do alone as long as I put in effort and time. After all this site is about money saving

I can't remember the last time I placed a case with Halifax because of the rates, so I suspect you could have done better.

Plenty of other reasons to use Halifax, but not the rates.

AnotherJoe

missmoose wrote: »

Also convenience doesn't always win. I've dedicated a lot of time looking for mortgages and the best rate etc. Don't see why I should pay someone to do something that I can do alone as long as I put in effort and time. After all this site is about money saving

Not all brokers charge. And it seems presumptuous to think that after a few weeks of looking you can do better than people whose job it is. And it's not just their job to find cheapest rates it's also to guide you through how to apply and how to present your financials in the best way to be accepted.

minimike2

missmoose wrote: »

Maybe would have been but we initially got our MIP with Halifax but couldn't get an appointment to do the full application before the 31st December so started to look else where because Halifax were going to stop doing them but they continued with the 95% mortgages and now we've applied with them and all is well for the moment, we were going to do it through a broker but I was obsessively checking Halifax online to see if they had changed their minds and continued with the 95% mortgages.

Also convenience doesn't always win. I've dedicated a lot of time looking for mortgages and the best rate etc. Don't see why I should pay someone to do something that I can do alone as long as I put in effort and time. After all this site is about money saving

Doesn't look like you have done a very good job of it so far though, does it?

ap1985

I would suggest going through a broker especially if you are looking for a specialist mortgage like shared ownership etc. However, when looking for a broker ensure that they are experienced in that field.