Mortgage broker - ask me anything

haras_n0sirrah

xMeganCL said:

Is an application going to underwriter for QC a regular thing? Apparently my final document was signed off today and the application is with the underwriter for QC and should be actioned shortly. Does this sound like an offer is on its way?

I assume this is quality control - a percentage of all applications are sent to a higher underwriting to check the quality of the underwriters work. As long as the underwriter has done their job correctly it shouldn't be an issue but it will add on some time

haras_n0sirrah

ChasingtheWelshdream said:

As a broker, would you be happy if your customer contacted the lender direct for an update? Or would you rather chase yourself?

Our broker has escalated our case but the lender is not giving any information.  I'm wondering if if we could call direct to ask about what's happening, rather than hassling our broker. But I'm not sure if that's 'the done thing'.

I've seen comments implying people can see application trackers, even when they've applied through a broker. We haven't been given that option so have to contact our broker each time for an update and am mindful of becoming too much of a pain.

honestly - don't. As a broker I would rather my client contacted me daily than call the lender. Mainly as something could be said which could jeapordise the application but also because at the moment if a lender is taking 3 weeks to look at something there is absolutely nothing we can do about it
I am now giving clients timescales and saying that we are not going to hear anything until x date and there is nothing we can do to get it looked at any faster as lenders are not allowing escalations unless they are outside of their advertised time scales. Chasing won't help
Ask the broker when the case is realistically going to be looked at 

haras_n0sirrah

SueF1 said:

Wondering if you can clear something up that is confusing me as I know you said that Santander have a 2 stage UW process. 
Applied 26/08, few days later asked to send updated docs (date missed off accountants certificate) so broker uploaded same day. Valuation done 23/09 and broker says in the queue for UW. 
Does this mean I'm waiting the 2nd stage or the first stage of UW as broker said it's been and back already? I'm just confused as current Santander service levels say dealing with UW from 04/09- does this mean the 1st or 2nd stage as if it means the 2nd stage I'm in for a hell of a wait yet!

the first stage is a doc check - this sounds as though you didn't pass this first time so they came back for more. If it passes the doc check it the goes into the underwriter queue which yes is currently 3 weeks long.

ChasingtheWelshdream

haras_n0sirrah said:

ChasingtheWelshdream said:

As a broker, would you be happy if your customer contacted the lender direct for an update? Or would you rather chase yourself?

Our broker has escalated our case but the lender is not giving any information.  I'm wondering if if we could call direct to ask about what's happening, rather than hassling our broker. But I'm not sure if that's 'the done thing'.

I've seen comments implying people can see application trackers, even when they've applied through a broker. We haven't been given that option so have to contact our broker each time for an update and am mindful of becoming too much of a pain.

honestly - don't. As a broker I would rather my client contacted me daily than call the lender. Mainly as something could be said which could jeapordise the application but also because at the moment if a lender is taking 3 weeks to look at something there is absolutely nothing we can do about it
I am now giving clients timescales and saying that we are not going to hear anything until x date and there is nothing we can do to get it looked at any faster as lenders are not allowing escalations unless they are outside of their advertised time scales. Chasing won't help
Ask the broker when the case is realistically going to be looked at 

Thank you, I thought that may be the case. Our broker keeps getting told a timescale, which then passes and are then told something completely different. They were told an offer within 24 hours 2 weeks ago,  then 3 days when they chased, then today at the latest but still no information forthcoming. It’s extremely stressful so we’re clutching at straws a bit.

SueF1

haras_n0sirrah said:

SueF1 said:

Wondering if you can clear something up that is confusing me as I know you said that Santander have a 2 stage UW process. 
Applied 26/08, few days later asked to send updated docs (date missed off accountants certificate) so broker uploaded same day. Valuation done 23/09 and broker says in the queue for UW. 
Does this mean I'm waiting the 2nd stage or the first stage of UW as broker said it's been and back already? I'm just confused as current Santander service levels say dealing with UW from 04/09- does this mean the 1st or 2nd stage as if it means the 2nd stage I'm in for a hell of a wait yet!

the first stage is a doc check - this sounds as though you didn't pass this first time so they came back for more. If it passes the doc check it the goes into the underwriter queue which yes is currently 3 weeks long.

So all my docs were uploaded correctly by 03/09 after they'd done their initial checks. Does this mean it would be referred to UW straight away and therefore if they're working on 04/09 they'll be checking it next....? Or is that wishful thinking. 
Valuation was booked straight away but the wait in this area was 3 weeks hence not being done until last week 23/09

becky8690

A question about LBS and their service status. Is the 12 working days for underwriters from the day the application was submitted?

haras_n0sirrah

ChasingtheWelshdream said:

haras_n0sirrah said:

ChasingtheWelshdream said:

As a broker, would you be happy if your customer contacted the lender direct for an update? Or would you rather chase yourself?

Our broker has escalated our case but the lender is not giving any information.  I'm wondering if if we could call direct to ask about what's happening, rather than hassling our broker. But I'm not sure if that's 'the done thing'.

I've seen comments implying people can see application trackers, even when they've applied through a broker. We haven't been given that option so have to contact our broker each time for an update and am mindful of becoming too much of a pain.

honestly - don't. As a broker I would rather my client contacted me daily than call the lender. Mainly as something could be said which could jeapordise the application but also because at the moment if a lender is taking 3 weeks to look at something there is absolutely nothing we can do about it
I am now giving clients timescales and saying that we are not going to hear anything until x date and there is nothing we can do to get it looked at any faster as lenders are not allowing escalations unless they are outside of their advertised time scales. Chasing won't help
Ask the broker when the case is realistically going to be looked at 

Thank you, I thought that may be the case. Our broker keeps getting told a timescale, which then passes and are then told something completely different. They were told an offer within 24 hours 2 weeks ago,  then 3 days when they chased, then today at the latest but still no information forthcoming. It’s extremely stressful so we’re clutching at straws a bit.

which lender - I can tell you there timescales

haras_n0sirrah

becky8690 said:

A question about LBS and their service status. Is the 12 working days for underwriters from the day the application was submitted?

day after I am afraid so if something is submitted on the 1st the 1st working day would be the 2nd so the 12th would be the 17th

haras_n0sirrah

SueF1 said:

haras_n0sirrah said:

SueF1 said:

Wondering if you can clear something up that is confusing me as I know you said that Santander have a 2 stage UW process. 
Applied 26/08, few days later asked to send updated docs (date missed off accountants certificate) so broker uploaded same day. Valuation done 23/09 and broker says in the queue for UW. 
Does this mean I'm waiting the 2nd stage or the first stage of UW as broker said it's been and back already? I'm just confused as current Santander service levels say dealing with UW from 04/09- does this mean the 1st or 2nd stage as if it means the 2nd stage I'm in for a hell of a wait yet!

the first stage is a doc check - this sounds as though you didn't pass this first time so they came back for more. If it passes the doc check it the goes into the underwriter queue which yes is currently 3 weeks long.

So all my docs were uploaded correctly by 03/09 after they'd done their initial checks. Does this mean it would be referred to UW straight away and therefore if they're working on 04/09 they'll be checking it next....? Or is that wishful thinking. 
Valuation was booked straight away but the wait in this area was 3 weeks hence not being done until last week 23/09

ask your broker what day it went into the underwriting queue. It is I think a couple of days for the doc check queue and this would be on top

SueF1

haras_n0sirrah said:

SueF1 said:

haras_n0sirrah said:

SueF1 said:

Wondering if you can clear something up that is confusing me as I know you said that Santander have a 2 stage UW process. 
Applied 26/08, few days later asked to send updated docs (date missed off accountants certificate) so broker uploaded same day. Valuation done 23/09 and broker says in the queue for UW. 
Does this mean I'm waiting the 2nd stage or the first stage of UW as broker said it's been and back already? I'm just confused as current Santander service levels say dealing with UW from 04/09- does this mean the 1st or 2nd stage as if it means the 2nd stage I'm in for a hell of a wait yet!

the first stage is a doc check - this sounds as though you didn't pass this first time so they came back for more. If it passes the doc check it the goes into the underwriter queue which yes is currently 3 weeks long.

So all my docs were uploaded correctly by 03/09 after they'd done their initial checks. Does this mean it would be referred to UW straight away and therefore if they're working on 04/09 they'll be checking it next....? Or is that wishful thinking. 
Valuation was booked straight away but the wait in this area was 3 weeks hence not being done until last week 23/09

ask your broker what day it went into the underwriting queue. It is I think a couple of days for the doc check queue and this would be on top

Sure my broker is getting p****d off with all the hassle I'm giving her so thought I'd ask your opinion too. Thank you for answering my questions! Really appreciated.