Vernon Building Society

james_lawless

Hi,

Does anyone have any experience of lending from the Vernon? I’ve submitted my application to them and waiting to hear back. I know all lenders have their own lending criteria so I’m wondering how strict they are etc. I’m a FTB looking for a 95% mortgage.

ACG

I am assuming you are within 25 miles of Stockport? That is always the first question they ask me when I ring them.

They are VERY old school. It is almost like going back to the 90s with them. They are alright in fairness, although I have not used them a lot. Their affordability is very mean compared to most I tend to find.

Neutrinno

What made you approach Vernon?

james_lawless

ACG wrote: »

I am assuming you are within 25 miles of Stockport? That is always the first question they ask me when I ring them.

They are VERY old school. It is almost like going back to the 90s with them. They are alright in fairness, although I have not used them a lot. Their affordability is very mean compared to most I tend to find.

Actually, I’m more like 40 miles, although they’ve never actually expressed any concern about that.

Yes I think I get what you mean, from my very first interaction they wanted a lot of detail to give an assessment of what they could lend. Based on my gross salary without overtime I’m borrowing (or hoping to!) 3.75 times my salary. Based on everything I’ve told them on the phone the advisor has seemed satisfied that they can lend what I want, but I was curious about how much that would differ when the underwriter looks. When you talk about affordability, is that the assessment including non-essential spending like going out etc?

I went with them as they seemed competitive for my needs.