Morgage Approved

jenks48

Advice please this has made me really ill with what has happened.
Have wrote on hear before that morgage application submitted 9th March came back with a affordability issue which was cleared then passed the affordability. Broker was sent an email morgage approved issues printing the offer pack but please tell your customer we are happy to approve the morgage. I then paid the search fees. In the lockdown process barclays are now saying it was an error that email should never have been sent, more to the point I have paid the searches and they have now been done..broker knows how upset I am and he is saying that the morgage was approved...they are also saying no log of a valuation being done.. india off shore offices closed this is where the email came from.
They are now viewing my application again I'm so upset about the whole ordeal no idea what the outcome will be. One minute approved offered and then their claiming a mistake. I've already started to pay money out.
Any ideas how this may go. I know I have to wait but I feel I've been treated so unfairly. This is with Barclays saying 10 days now on day 17..
Any advice much appreciated 


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Thrugelmir

Best to update an existing thread that you've already started. Than start another one.

NoisyGiraffe

I don't have any advice I'm afraid, just here to say I'm here with you in a similar boat. I'm also waiting for Barclays, initially offered 95% then only 90% (due to DOB error but no further credit checks carried out since correction so no idea why the change). Application submitted on 16th March so not far behind you. My broker has been trying to get mine escalated but it's still taking forever and a day, though she says Barclays have been working overtime and their timescales are starting to come down. Hopefully we'll both get the answer we need soon. 

jenks48

Thrugelmir said:

Best to update an existing thread that you've already started. Than start another one.

Apologies. Yes I should have 

jenks48

NoisyGiraffe said:

I don't have any advice I'm afraid, just here to say I'm here with you in a similar boat. I'm also waiting for Barclays, initially offered 95% then only 90% (due to DOB error but no further credit checks carried out since correction so no idea why the change). Application submitted on 16th March so not far behind you. My broker has been trying to get mine escalated but it's still taking forever and a day, though she says Barclays have been working overtime and their timescales are starting to come down. Hopefully we'll both get the answer we need soon. 

Yes hopefully we will. Fingers crossed for you too.

jenks48

Thrugelmir said:

Best to update an existing thread that you've already started. Than start another one.

I know I started a new thread apologies new to the site.
Do you have any advice on my case if declined.? Meaning paying the searches as I hsd an email from underwriter confirming the morgage approved and then the upset in the middle of lockdown to say they think it was a mistake by sending the email. I wouldn't have paid out the searches only they stated their was technical issues printing offer pack they would sort as soon as they could but we are happy to approve your mortgage.. 
Could I put a complaint it for upset loss of monies.?

Thanks 

[Deleted User]

You can put a complaint in, but whether it'll get anywhere is another matter.

I think you'd definitely get a distress/inconvenience (D&I) payment, but that'd probably be £250 tops.

Searches will depend on what ultimately happens - Barclays argument could be that they're not the only lender available, therefore although they appreciate the upset, they can't be held responsible for the resulting costs - you could've got a mortgage elsewhere (Covid will make that harder, but unless you have direct evidence your purchase has fallen through due to the delays it'll be hard to argue it's solely Barclays fault).

They could also argue you should've waited for the formal offer. May even argue Solicitors should have waited for the formal offer (I know some sols won't even start work until formal offer is received, unless you actively waive that and tell them to do it immediately).

Could escalate to FOS, but that'll take a good 6 months. I've had cases take just under 1 year to settle. 

What's the LTV? Is there any way you can ask your broker to start looking elsewhere? Hopefully lockdown is lifted in 2 weeks so valuations can get back to normal (may be a long shot!) and potentially, if Barclays still haven't given you an offer by then, you're all set to just apply elsewhere.

D&I definitely holds weight. Not sure the costs for the searches would be upheld, even based on the email they shouldn't have sent.

jenks48

This Application was started on the 2nd March' by the 6th March I had to get in other paperwork to confirm a debt paid which was showing on my credit history...took them a while to confirm they were happy...by the 19th March had the email with the broker confirming approved I have been notified today that they were having technical issues and the email was correct because they even confirmed they were happy with the evidence of the car loan letter proving paid in full.
No other debts outstanding. This was an equity share scheme I qualified for 30% help towards the deposit plus I am putting an extra 5% down
I paid the searches because my solicitor asked on that day could I may have been a little stupid to do that and not waited for the offer but it stated technical issues we are happy to lend to your customer please let your customer know.. 
I'll keep fighting on...see what happens.
Solicitors were told offer was on it's way but like you said I should have waited. All knew to me I have the email from a Barclays underwriter my case ref number name stating my docs

jenks48

Somerset_La_La_La said:

You can put a complaint in, but whether it'll get anywhere is another matter.

I think you'd definitely get a distress/inconvenience (D&I) payment, but that'd probably be £250 tops.

Searches will depend on what ultimately happens - Barclays argument could be that they're not the only lender available, therefore although they appreciate the upset, they can't be held responsible for the resulting costs - you could've got a mortgage elsewhere (Covid will make that harder, but unless you have direct evidence your purchase has fallen through due to the delays it'll be hard to argue it's solely Barclays fault).

They could also argue you should've waited for the formal offer. May even argue Solicitors should have waited for the formal offer (I know some sols won't even start work until formal offer is received, unless you actively waive that and tell them to do it immediately).

Could escalate to FOS, but that'll take a good 6 months. I've had cases take just under 1 year to settle. 

What's the LTV? Is there any way you can ask your broker to start looking elsewhere? Hopefully lockdown is lifted in 2 weeks so valuations can get back to normal (may be a long shot!) and potentially, if Barclays still haven't given you an offer by then, you're all set to just apply elsewhere.

D&I definitely holds weight. Not sure the costs for the searches would be upheld, even based on the email they shouldn't have sent.

Latest on my application underwriter reviewed the case but it fails on affordability..we then speak to someone at barclays and the broker goes through it and they then realise it doesnt fail on affordability it's all to do with the equity share..and how their inputting it another 10 days of waiting case escalated again. We are now on week 8.
 This has been an absolute shambles with barclays but I am in my right to put a complaint in after all this
 They have also said they've sent emails to the broker and hes  phoned and then they've noticed they havent sent..this is an absolute nightmare...going around in circles.

jenks48

This is the latest on my Morgage application
Currently with the intermediary Escalations depart been offered an amount but its £6k short to what I need. My Broker and the other team in the New builds team are actually fighting my battle as the underwriter is failing it on affordability but everyone else doesnt agree it's to do with the equity share scheme the way it's been imputed. Esculated again now week 8..failing again I think I'll have to borrow the lower amount and scrape the difference myself. Don't want to lose the house. What the underwriter comes back with I'll have to wait and see.
Any suggestions or advice 

MovingForwards

@jenks48 it may be best to change the title of this thread, as it isn't approved. That way members will know you need help and have queries.