Barclays mortgage help

Lowe_Queen

Hi I’m looking for help/advice please 🤞 

we are in the process of buying a new house. We have gone through a broker and our mortgage application was submitted to Barclays on the 26th Aug. We were informed by our broker on 3rd Sept that Barclays had done their ‘initial assessment’ and the application is still with the underwriters. 

Please can anyone share their experiences with Barclays? I’m losing the will here, really on edge with all of the waiting (I know, I know, it’s part of the parcel lol) I just wondered if anyone could share their recent timeline or experience to put my mind at rest.

Hard credit search was done on DIP on the 25th Aug. 

Also, what does it mean that they’ve done their ‘initial assessment’? 

Thank you in advance! 

nekr0mantik

Are you sure it was hard search on DIP? As Barclays only do soft search on DIP.
They do a hard search once you or broker submit the full application.
I was going via Barclays early August and it did take them 10 days just to get valuation done so they are slow from my experience. 

amnblog

The 3rd was one working day ago. 

I am unsure what you expect.

Barclays are currently working on a 3 day turnaround to assess new details on cases.

initial assessment is you have passed credit score and the paperwork is in order. The file is now with the people who sign it off.

Lowe_Queen

nekr0mantik said:

Are you sure it was hard search on DIP? As Barclays only do soft search on DIP.
They do a hard search once you or broker submit the full application.
I was going via Barclays early August and it did take them 10 days just to get valuation done so they are slow from my experience. 

Hi, yes it was a hard search on both mine and my husbands credit file. Not sure why. We have good credit histories though so I’m not too concerned over this. Plus, if there was an issue with the search we’d probs know by now. Thank you for your experience too, not heard anything about a valuation yet so looks like we may have a little longer to wait. 

Lowe_Queen

amnblog said:

The 3rd was one working day ago. 

I am unsure what you expect.

Barclays are currently working on a 3 day turnaround to assess new details on cases.

initial assessment is you have passed credit score and the paperwork is in order. The file is now with the people who sign it off.

Hi. I know, I’m super invested in this move so there’s a lot resting on it, I’m being impatient. I guess I just need to suck it up and wait it out. 

Thank you for the definition of the ‘initial assessment’ too, this is really helpful. In your experience, would you say we would know by now if we were going to be refused? 

Thanks again  

csgohan4

During covid my barclays offer took 6 weeks, now your probably looking 2-4 weeks depending on your case, maybe shorter

The mortgage is not the main thing drawing out the process, legal stuff will, searches e.t.c. Your looking at 3 months at best

Lowe_Queen

csgohan4 said:

During covid my barclays offer took 6 weeks, now your probably looking 2-4 weeks depending on your case, maybe shorter

The mortgage is not the main thing drawing out the process, legal stuff will, searches e.t.c. Your looking at 3 months at best

Oh gosh, that must have been awful 😣 here’s me thinking it would take a couple of days for the offer to come through. 

I’m not too concerned about the rest, once we have our offer I’ll be content knowing the dream home will ‘eventually’ be ours. I think it’s just waiting for the mortgage to come through that’s making me anxious. It will be 2 weeks on Thursday so hopefully not too much longer. Thank you ☺️ 

aoleks

I have had a bad experience with them. They’ve been sittin on my case for weeks/months without an update, we’re cancelling and applying with HSBC today.

Lowe_Queen

aoleks said:

I have had a bad experience with them. They’ve been sittin on my case for weeks/months without an update, we’re cancelling and applying with HSBC today.

2 weeks today for us. How long have you been waiting in total? I spoke to our MB last night and apparently the lenders are all flooded with applications atm due to stamp duty increase at the end of this month, everyone is rushing to beat it. But it sounds like they’ve messed you about so don’t blame you switching, I would do the same! It’s really hard waiting!!!! 😢

aoleks

Since July...

But not anymore, I instructed my broker to cancel the application and apply with HSBC instead.

landsbeyondthesea

After our seller pulled out of our first attempt to buy, and finding ourselves unable to take our Virgin Money offer to the next house, we applied to Barclays through our broker. Application went in 2 August, and the offer was in our hands by email two days later. I realise this is likely the exception.