Barclays mortgage process

Barry627

hi, so we our first time buyers and have submitted our full application with Barclays. So far we have 
15/03 DIP/hard search accepted 
22/03 full application submitted. 

What is the next stage for us? Will we get any indication that our application is likely to be approved?

Rincewindcl

Barry627 said:

hi, so we our first time buyers and have submitted our full application with Barclays. So far we have 
15/03 DIP/hard search accepted 
22/03 full application submitted. 

What is the next stage for us? Will we get any indication that our application is likely to be approved?

Hi Barry,

In the same boat here. Chasing my MB daily, but everything just says 'in progress' apparantly. No valuation instructed yet. Very nervous as have a few defaults on my record, but they are 4.5 years old and satisfied, so I meet Barclays lending criteria. Doesn't stop me being nervous though!

05/03 DIP/hard search accepted

10/03 Full app submitted

ukri

I can understand your impatience, but chasing your MB daily isn’t going to help.

I am not an expert but haven’t ever heard a good word about them from MBs on these forums. Let’s hope that won’t be your experience.

Rincewindcl

ukri said:

I can understand your impatience, but chasing your MB daily isn’t going to help.

I am not an expert but haven’t ever heard a good word about them from MBs on these forums. Let’s hope that won’t be your experience.

Thanks Ukri. Daily might have been a slight exaggeration in fainess

wasted_legend

Barcalys have been an absolute nightmare for me. Don't want to assume everyone is going to have the same problems, but they have messed me around for months.
Full application mid November
My MB has been contacting them regularly as they keep coming up with new delays. Looked like underwriters were happy with income in December, then for some reason, instead of going to valuation stage, it went back to underwriting and they were quizzing my previous year's p60. We'd almost given up hope with them late Jan, but they came back with some alternative terms, so it went to valuation stage early Feb. Mortgage offer received last week, but terms weren't right so its gone back to underwriting again.

As far as I know, they are swamped in applications and my MB has said that they have a number of clients in the same position with outstanding applications back to October. They have split to 3 departments which has slowed the process down further. Also they do not accept telephone calls, so all correspondence (even between brokers is done through on-line chat)

To say I'm appalled is putting it midly. I just pray that we don't get a no after receiving an offer last week (albeit wrong)

I hope others have a better time than I've had, but my experience has been laughable.

Barry627

Have been told by our broker that the valuation has been booked in for this week. 

Rincewindcl

Barry627 said:

Have been told by our broker that the valuation has been booked in for this week. 

Sounds

 Sounds good Barry.

I've just had a call from my MB and Barclays have issued an offer!!  Over the moon here! 

Barry627

Rincewindcl said:

Barry627 said:

Have been told by our broker that the valuation has been booked in for this week. 

Sounds

 Sounds good Barry.

I've just had a call from my MB and Barclays have issued an offer!!  Over the moon here! 

Brilliant!! 

Hopefully won’t be far behind you. 

waribai

FWIW, we had a nightmare with Barclays. Existing mortgage customers with them and 30+ years of current accounts but they said we can’t give you an AIP but please do apply.

My advice...go through a broker!

i) First and foremost, the Barclays interview is at least 2 hours and there is a very heavy pressurised sell of their insurance products. Also, their MA will have no idea of your credit report. So, any misunderstanding could result in your application being delayed.

ii) A good broker will take away the above stress but also should be able to tell you how realistic your chances are and how likely they are to lend you the requested amount. Because of their new lower lending caps, going direct you can go all the way through a 2-3 hour interview and simply be told that they can only lend you half the amount you requested.

iii) Even more stressful is their IT which the MA asks you to upload documents to. It is horribly slow and unreliable. 
Going through a broker means you don’t have to encounter that and will save even more stress!

Rincewindcl

Barry627 said:

Rincewindcl said:

Barry627 said:

Have been told by our broker that the valuation has been booked in for this week. 

Sounds

 Sounds good Barry.

I've just had a call from my MB and Barclays have issued an offer!!  Over the moon here! 

Brilliant!! 

Hopefully won’t be far behind you. 

Cheers Barry. I hope you aren't far long from an offer too!

Rincewindcl

waribai said:

FWIW, we had a nightmare with Barclays. Existing mortgage customers with them and 30+ years of current accounts but they said we can’t give you an AIP but please do apply.

My advice...go through a broker!

i) First and foremost, the Barclays interview is at least 2 hours and there is a very heavy pressurised sell of their insurance products. Also, their MA will have no idea of your credit report. So, any misunderstanding could result in your application being delayed.

ii) A good broker will take away the above stress but also should be able to tell you how realistic your chances are and how likely they are to lend you the requested amount. Because of their new lower lending caps, going direct you can go all the way through a 2-3 hour interview and simply be told that they can only lend you half the amount you requested.

iii) Even more stressful is their IT which the MA asks you to upload documents to. It is horribly slow and unreliable. 
Going through a broker means you don’t have to encounter that and will save even more stress!

Hi Waribi,

I went through a broker and we decided to go with Barclays. It has taken 9 working days to get an offer which, from what I have read on other posts, isn't too bad?