Clydesdale mortgage approval timescale?

Jennitull90

We applied for a Clydesdale mortgage through an advisor on 16/7/20.
On 21/7/20 a valuation was done and approved by the bank.
they asked for additional information on 24/7/20 and then again on 30/7/20.
Our mortgage advisor is confident that they now have all the information they’ll need.
But we now have a move date of the 9/9/20. I’m starting to worry that if they don’t approve the mortgage we will be left short of time to find another lender or home!
How much longer should it take for them to make a decision?

anxioussquirrel

We are also applying with them! Our mortgage broker said they were notorious for being slow but we had to go with them because of the type of property (it's converted, other lenders class it as new build). 
From what I've heard from others and the broker, is that they're just a bit old school and less "algorithm-based" but it can also mean they are approving more applications. Someone we know in the same boat also got there in the end (after some faffing!)
Our broker said when we applied that they restored their "10 days or £100" guarantee after a covid-break, I'm not sure when it's started again, it's worth asking your broker about it. They could give you an extra £100 if they approve your mortgage, if it took them more than 10 days.
Good luck! Keep us posted.

Jennitull90

we had a we had a phone call this AM From our mortgage advisor asking for our marriage certificate and A letter proving a credit card closure. I’m really hoping they make a decision soon!

anxioussquirrel

Just posting here to check how it's going? I hope you'll get there soon!
Today is our 10th day (within which they promised an offer or £100). We checked with broker on Friday, he said they're processing it and asked for some confirmation that our jobs were not affected by covid, which the broker had already done apparently (I'm on furlough but partner's been working throughout.) 
But no news yet about the valuation. I hope we hear soon, it makes me so nervous. We don't have a Home Report because it's newly converted (commercial to resiential).

Jennitull90

So I phoned my advisor yesterday to ask for an update and the likely timescales.

He said Clydesdale have a 6 day policy from receiving information to either make it a “completed case” or to ask for more information. If they decide it’s a completed case to be sent to the underwriters. Form that point the under writers have 10 days or £100.

so! I *think* we will be sent to the underwriters this coming Friday, and then 10 days from that point! Hopefully they don’t ask for any other information.

good luck! Let me know how you get on!

anxioussquirrel

Any luck? I'm curious now, I hope you had it and forgot about your thread as you're busy with moving! 

Our broker got in touch last week that it was all waiting for the valuation (we don't have a home report because it's been newly converted to a home) so we were very hopeful. But he called again today to say he was still chasing Clydesdale's surveyors! They couldn't find the postcode apparently and they just never bothered to come to the property! They aren't using a local surveyor so it's very slow - it has me worried a bit because It's a commercial to residential conversion but it's not a new building. But hopefully it will come back OK.

So the broker now has been complaining and they are meant to come soon. It's making me very nervous and I'm getting impatient. I'm scared as well that it will be still some time and more questions once the valuation is done but I hope it's all processed now and it really is just waiting for the surveyors. I really hate this waiting. Fingers crossed now! 

Jennitull90

Hi!

Sorry for not updating sooner. We got approved on Monday AM.

we are slightly different in Scotland as the home report and valuation is done prior to you putting your house on the market. The house we bought needed an up-to-date valuation as it had been on the market for longer than 6 months.

so I think it was just over 4 weeks start to finish, but it felt like a lifetime.

now to start packing!

keep me updated on your side of things I’m sure you will be just fine though! 

anxioussquirrel

There's STILL nothing although there are developments but at a snail's pace. It took them something like 3 weeks to find the property on the map to carry out the valuation. We are also in Scotland but we don't have a home report because it's a newly converted property (commercial to residential) so they insisted they do their own... Now they want another form or something from the surveyor so nothing will happen this week again! I'm so worried that by the time we get it there will be another lockdown and we can't move. 

Do people think on here that it's likely that house moves will stop in a new lockdown? Even if we don't have to book a van and there is nobody having to move out of the property / nobody moving into ours either? Can such a chain free transfer still happen during a lockdown? We're desperate to move  

anxioussquirrel

Ok well it's become a bit of a mess. It turned out that this CML form was not accepted and the seller hasn't got all the paperwork, the property has been empty for more than two years before development and it's missing some paperwork, so Clydesdale now won't lend on the property. I'm in bits.

We haven't given up on it but there is nothing we can do until the seller pays for a proper architectural survey or is able to present some kind of form that Clydesdale or any other lender will accept, Clydesdale is pretty much refusing to lend on the property at the moment  

We are SO desperate to move and we love the property so much. The property agents are in touch with the seller's solicitors who is in touch with the people who have done the survey for Clydesdale so there is still some hope left, but how long would it take for it to be resolved?

Jenwealth

anxioussquirrel said:

Ok well it's become a bit of a mess. It turned out that this CML form was not accepted and the seller hasn't got all the paperwork, the property has been empty for more than two years before development and it's missing some paperwork, so Clydesdale now won't lend on the property. I'm in bits.

We haven't given up on it but there is nothing we can do until the seller pays for a proper architectural survey or is able to present some kind of form that Clydesdale or any other lender will accept, Clydesdale is pretty much refusing to lend on the property at the moment  

We are SO desperate to move and we love the property so much. The property agents are in touch with the seller's solicitors who is in touch with the people who have done the survey for Clydesdale so there is still some hope left, but how long would it take for it to be resolved?

I hope you have had some movement by now. can you let me know how long it took. I am in the same boat, application went in on 27th August

fizzgog

Mine went in today ..... expecting a long wait. Our buyers are wanting to complete asap ..... fingers crossed.