Barclays Mortgage Timeframe

dungabeagle

alishac said:

I wish it was made clear what they did. I like to know it all in depth haha. 

We have had one hard credit search from Barclays 20.3.21 which shows on Credit Karma and this was the date our DIP was done which was approved. I have read on other threads that Barclays are one of the few lenders that do the hard search with the DIP. We haven’t had any further hard credit searches so unsure if it’ll just be the one with the DIP that Barclays do? 

I completely get it! I’m the exact same.


We just had the one hard search when it was submitted- I think the advisor said they could do another one if the first one “expired” and that they could in theory do another one at any point (they said this in part of the conversation about not taking out more credit between the application and completion so I’m not sure how likely it is!) 

But if that’s your hard check done, they shouldn’t really need another any time soon -I wouldn’t think anyway!

alishac

dungabeagle said:

alishac said:

I wish it was made clear what they did. I like to know it all in depth haha. 

We have had one hard credit search from Barclays 20.3.21 which shows on Credit Karma and this was the date our DIP was done which was approved. I have read on other threads that Barclays are one of the few lenders that do the hard search with the DIP. We haven’t had any further hard credit searches so unsure if it’ll just be the one with the DIP that Barclays do? 

I completely get it! I’m the exact same.


We just had the one hard search when it was submitted- I think the advisor said they could do another one if the first one “expired” and that they could in theory do another one at any point (they said this in part of the conversation about not taking out more credit between the application and completion so I’m not sure how likely it is!) 

But if that’s your hard check done, they shouldn’t really need another any time soon -I wouldn’t think anyway!

Yeah that’s my thinking too. We definitely won’t be taking out any more credit at all and our mortgage broker advised us too that they can do a hard check at anytime. We will probably need to extend our mortgage anyways as the house isn’t due for completion until October/November so they will be doing another hard search then I assume. 

Just want to get a mortgage offer so I can stop stressing so much! 

Rincewindcl

alishac said:

dungabeagle said:

I had my offer with Barclays back within 24 hours! 

We had an automated valuation as it wasn’t a new build but from my understanding the valuations could have taken up to 5 working days to be returned after being carried out(if it was needed) then another 5 working days to be reviewed by the underwriters.

If you Google “Barclays for intermediaries” you should be able to find the website that the brokers use which should give you timescales- I’ve just had a little look and it still says 5 working days. 

Thanks for the reply. I’ll have a google of that. So does it go to valuation first and then our documents are reviewed by the underwriters and the hard credit searches done? 

Barclays do the hard credit search on application up front, which you should see on Experian and Credit Karma, if you have access to those. My experience (having secured a Barclays mortgage offer a few weeks ago on a non-new build house) is that they do the valuation last.

alishac

Just to update everyone, we got our mortgage offer on Tuesday! Now to stress about all the other steps haha