YBS Mortgage

bhallating

Just wanted to start a post on Yorkshire Building Society mortgages as it doesn't seem to be any recent posts about it.

As FTB, we've used the forum to learn a lot during our buying process and would like to share our experience in case others are interested in the process of applying to YBS. 

They don't work with brokers so you apply directly on their website. Here is our timeline:

25 May AIP
27 May Full mortgage application submitted
29 May Case Manager (underwriter) asked for documents, sent back on same day
29 May Hard check on credit report
4 Jun YBS asked for files again as couldn’t open Zip document, sent everything as separate files on same day
8 Jun Confirmation that valuation has been booked (meant for 28 Jun)
16 Jun Valuation was done (surprisingly early)
17 Jun Received Valuation/home-buyers report
18 Jun Received email confirmation we are to receive an offer, offer to be sent by post

Been checking every day in the mailbox for the formal offer to be sent by post. It's been 3 working days and no signs of it yet so waiting patiently!

kaell

Just to add to this post currently going through mortgage application with ybs too after being knocked back by Barclays for historic adverse credit on my files. 

14/7- AIP completed and approved in
principal 
15/7- full application submitted in the morning
17/7- phoned to get an update told an underwriter was assigned same day of submission and will be in contact early next week.

19/7- underwriter makes contact requests latest payslip and latest corresponding bank statement, plus they wanted an explanation behind why I defaulted on accounts 5 years prior and a statement confirming we’re both not effected by COVID-19 in terms of jobs. They wanted extra payslips from other half to confirm overtime was correct. All documents sent back same day. Valuation also instructed. 

20/7-realised I submitted the wrong months bank statement (stupid I know) correct statement sent 9am. Phoned to check at 9:30 that they received it and to confirm product fee be added to the mortgage. 

2:30pm Underwriter requests clarification On transaction seen on new statement. (Was a redress refund from an old PDL I had in 2015)
valuation booked for 21st.
Underwriter also claims my solicitor isn’t on their approved panel, my solicitor confirms they are and provides panel number which I pass onto underwriter. 

That’s where we are atm. I must say though so far YBS have been brilliant. Very easy to deal with considering I’m not a straight forward case with historic defaults. OH has excellent credit across all 3 CRAs. We’re only borrowing £260,000 with a 54% LTV. Affordability is excellent. Combined basic 76K before any overtime (OH does a lot hence why they needed to double check it). The website is super easy to use and I like that fact that once submitted it does straight to the underwriters and once assigned you have a direct contact with them to ask any stupid question.  You’re also able to speak to the underwriting department before you submit full application to ask any questions and to check you fit the basic criteria . I asked if my defaults would be allowed. 

So far so good will update as I go along. 

dimbo61

We were with YBS from 2004 till 2014 with 2 offset mortgages. Did have a local branch but really pleased with them at the time 

kaell

Update to my previous post a few days ago 

21/7 valuation conducted 
22/7 8:50am email from underwriter to confirm mortgage offer in the post!

so there you have it. It has taken exactly 7 days from full application to offer and I couldn’t be anymore happier. The service from ybs has super efficient I couldn’t have asked for anything else. They saw that even though I had defaults (I had a few ) that were only settled a few months ago they looked at my partner and I situation as a whole and used a common sense approach and that over the last 5 years I’ve never missed a payment and got myself back on track. 

I hope my experience fills at least one person with hope.

We got a 7 year fix @1.6

Banker2022

Hey thanks for your post there isn’t much on ybs process 

I’m doing mine now but I have a mortgage appointment for 1.30 hour next week 

looks like you had a underwriter message 2 days later for more on payslips etc 
my husband did the application do you think it’s because we went for mortgage advise ? Has anyone else had a mortgage advisor with ybs lasting that long to go through everything

Also when does the valuation get booked after this appointment or before? 

Thanks 

jobdone1

I have been with ybs for about 17 years with my mortgage, I am very pleased with them. Easy to access your account online overpayments are easy to set up and the call centre staff are always friendly and very helpful. That's why I have stayed.