Mortgage application timescales

decs2021

Hi All,
Would really like some help please. We recently submitted our mortgage application (fully packaged) but was wondering what the timescales are like. I have been informed that they do not book a valuation till they have reviewed the documents but just wanted to check please. The estate agent and the sellers are pushing us for a valuation booking and completion date but we have no idea what to tell them.

Irishpearce26

decs2021 said:

Hi All,
Would really like some help please. We recently submitted our mortgage application (fully packaged) but was wondering what the timescales are like. I have been informed that they do not book a valuation till they have reviewed the documents but just wanted to check please. The estate agent and the sellers are pushing us for a valuation booking and completion date but we have no idea what to tell them.

Depends on who you have applied with. Virgin do their credit checks at DIP stage and instruct valuation before they review the docs. The timescales will depend on the case, my application took about 10 days to go from application to offer. I didn't use a broker as I was porting my mortgage and borrowing more.

decs2021

Irishpearce26 said:

decs2021 said:

Hi All,
Would really like some help please. We recently submitted our mortgage application (fully packaged) but was wondering what the timescales are like. I have been informed that they do not book a valuation till they have reviewed the documents but just wanted to check please. The estate agent and the sellers are pushing us for a valuation booking and completion date but we have no idea what to tell them.

Depends on who you have applied with. Virgin do their credit checks at DIP stage and instruct valuation before they review the docs. The timescales will depend on the case, my application took about 10 days to go from application to offer. I didn't use a broker as I was porting my mortgage and borrowing more.

Thanks for that. We went with Ipswich Building Society and they aren't providing us with a timescale. When I asked about valuation they said they will inform me when they have booked with the estate agent.
They have already taken the survey fees from us.

chezFTB

Hi - not sure if you have already looked at this

https://www.ipswich-intermediaries.co.uk/
If you scroll to the bottom of this it has some timescales

decs2021

Oh perfect 10 working days will be the answer I give to the estate agent in terms of valuation!

Irishpearce26

decs2021 said:

Oh perfect 10 working days will be the answer I give to the estate agent in terms of valuation!

Good luck, fingers crossed for you.

decs2021

Thank you! I'll keep everyone posted once we hear more!