How to get Agreement In Principle quickly

_pete_

I've just had an offer accepted on a property - the vendor is keen to complete as quickly as possible.

I currently have a Virgin One mortgage (current account offset) with a facility of £30k (ie, the available 'overdraft'). I actually paid off the 'debt' 16 years ago.

I now want to extend my facility to £100k (moving to a more expensive house) and after running through my income and expenditure figures was told last November that this wouldn't be a problem. I've just rung them to get an agreement in principle that I can show to the vendor's estate agent and have been told that I'll need to have a 2 hour appointment with their mortgage advisor and that the first appointment isn't for another 2 weeks.

Is this timescale normal?

Any suggestions on how to get a quicker AIP?. The Virgin One mortgage has worked well for me for 18 years, but given the two week wait and the 'nothing we can do' response when I queried it I'd happy to go elsewhere.

Thanks in advance.

ACG

It can be with some lenders.
Have you tried a broker or another lender directly?

_pete_

ACG wrote: »

Have you tried a broker or another lender directly?

Thanks for the speedy reply! I've just spoken to my estate agent's mortgage advisor and they can get this sorted at 9.30 on Monday if I email my documents to them over the weekend.

That's more like it!

Cheeky follow up question: any tips on best mortgage product - I want to borrow £100k and aim pay it off in 2 years....

ACG

Thats the brokers job.

amnblog

Little tip for the weekend.

You don't want to aim to pay if off in two years.

Tell the Lender that and they wont lend.

_pete_

amnblog wrote: »

Little tip for the weekend.

You don't want to aim to pay if off in two years.

Tell the Lender that and they wont lend.

Thank you:D

Is it OK if I l tell the broker that's the aim, presumably he can recommend ones with no penalties if I do pay it off early?