Mortgage offer slow ( more documents information)

JojoFe

 New to this.

looking to see if anyone has been in a similar situation and any advice.
we are at our wits end. We are using a mortgage broker.  We had an agreement in principle. Went full application. Got an offer which is £10,000 below what we asked for. We are putting down a very large deposit. They then asked for more documents. How much left on credit cards loans. At that time my annual salary increased so proof of that was then submitted. Another week later they have now asked how much of an offer we have received on our own house.

Now forgive me if I’m wrong. So now they want me to sell my home to then maybe refused application.  ( we are selling our home. But only I’ve we get our mortgage offer. The home we are buying won’t be  ready for 7 months.

So what I’m asking. Has anyone been back and forth with mortgage lender asking all theses questions.  Please note we are going through a mortgage broker.

amnblog

You are experiencing the mortgage application process and need to expect the Lender to ask questions, particularly if, as it appears, you are tight on affordability.

K_S

JojoFe said:

 New to this.

looking to see if anyone has been in a similar situation and any advice.
we are at our wits end. We are using a mortgage broker.  We had an agreement in principle. Went full application. Got an offer which is £10,000 below what we asked for. We are putting down a very large deposit. They then asked for more documents. How much left on credit cards loans. At that time my annual salary increased so proof of that was then submitted. Another week later they have now asked how much of an offer we have received on our own house.

Now forgive me if I’m wrong. So now they want me to sell my home to then maybe refused application.  ( we are selling our home. But only I’ve we get our mortgage offer. The home we are buying won’t be  ready for 7 months.

So what I’m asking. Has anyone been back and forth with mortgage lender asking all theses questions.  Please note we are going through a mortgage broker.

@jojofe Sorry to hear about your experience.To and fro from an underwriter is not uncommon and can depend on whether affordability was properly assessed when selecting the lender (or even if the lender's affordability calculator on their website is incorrect), how well the application was packaged and the experience of the underwriter.

Some of the things mentioned may be down to the case not being packaged properly in the first instance or equally due to the underwriter being overly cautious or inexperienced.

With lenders like NatWest, Nationwide, etc. who are swamped at the moment, each time a query is raised it adds a good few days to the process as it sits in a long queue waiting to be picked up so the process feels unending. Hopefully you'll get to the end of it soon, good luck!