Barclays timescales

NoisyGiraffe

My mortgage application was submitted on 16th March and an amendment (different product due to change in LTV) was submitted 23rd. My broker has told me that credit check has been passed and the automated valuation has been done and is fine, we are now just waiting for an underwriter to review my documents. They can't give us a timescale as these are unprecedented times and they're running on a much reduced workforce. 

I'm just wondering if anybody has recently had an application processed with Barclays that could tell me about their experience and timescale? 

Thanks!

Thrugelmir

"They can't give us a timescale as these are unprecedented times and they're running on a much reduced workforce. "

Sums up the state of play. With an increasing number of people still being affected by the virus in one way or another. Hopefully in a few weeks time. A sense of limited normality will start to return. 

csgohan4

I am remortgaging with Barclays and frankly i wouldn't hold my breathe if underwriter needs to review documents. No biggie, there are more important things at play. 

MsGeorge88

I had my offer in Feb (before this crisis), after valuation I had my offer within 4 days. I hope you do not have to wait too long

chris.heighton

I'm going through a rekey at the moment, and have been advised 10 working days for the underwiter and a further 10 working days for solicitors to draw down funds.

So around x2 the usual time

NoisyGiraffe

MsGeorge88 said:

I had my offer in Feb (before this crisis), after valuation I had my offer within 4 days. I hope you do not have to wait too long

Thanks! I was already fairly anxious about the buying process and I probably couldn't have picked a worse time for it haha fingers crossed it'll be fine in the end! 

NoisyGiraffe

chris.heighton said:

I'm going through a rekey at the moment, and have been advised 10 working days for the underwiter and a further 10 working days for solicitors to draw down funds.

So around x2 the usual time

That's really helpful, thank you! 

sjc93

Barclays have capped the amount of applications per day. We had an email circulating around my work today confirming that they shut off once they hit capacity. Today the limit was hit within 15 minutes... So they're definitely manic!

csgohan4

Surely Barclays would pull more products if they become oversubscribed? Their working at less than full capacity at present

[Deleted User]

as above, 10 working days for anything to be reviewed at the moment.  No escalation possible as no one to escalate to. 

Most of their processing is based in India which is on complete lockdown so they are working on a fraction of normal workforce. 

Thrugelmir

csgohan4 said:

Surely Barclays would pull more products if they become oversubscribed? Their working at less than full capacity at present

Staff redeployment as and when is required. Payment holiday requests will be the priority. There's around 3 weeks in which they'll need to be processed.