Barclays Mortgage Timeline 2022

raygcon

Think I should join

17 May : Application submitted by broker
17 May : Hard searches and soft searches show on credit file
18 May : Out of nowhere, Barclays sent online banking password to me ( I already have bank account with them, but never request any password through letter, so that was a bit weird ).

No other update so far

katrina2108

Thats odd, they the first mortgage lender not to do searches for me straight away, 2 weeks and nothing on credit files, but I called them this afternoon and was told ill have a decision by end if the week as valuation booked and they gave all paperwork ready valuation should be there in 24 hours, fingers crossed all ok this week, yours seemed quick so far! 

akvileyes

Joining the group

May 17 - application submitter by broker. Hard and soft searches done on the same day.

Then on 20 May track it status changed at around 9 in the morning to say that valuation  is being arranged. Later that day around 2pm got a text from barclays saying “Your Barclays valuation is booked for 20 MAY 2022.”

Am I misunderstanding this and is it even possible for valuation to be booked and carried out all on the same day? 

ApexW2

akvileyes said:

Joining the group

May 17 - application submitter by broker. Hard and soft searches done on the same day.

Then on 20 May track it status changed at around 9 in the morning to say that valuation  is being arranged. Later that day around 2pm got a text from barclays saying “Your Barclays valuation is booked for 20 MAY 2022.”

Am I misunderstanding this and is it even possible for valuation to be booked and carried out all on the same day? 

Sounds like a desktop valuation. 

You can track your mortgage application on their website.

”Barclays track it” 

katrina2108

Sounds like desktop, these worry me as allot don't take into account desirable areas, like the house we want you just can't get a home like that at present in that area and when one pops up its overpriced, im dreading my valuation more than mortgage approval, last time one was sold was more than a year ago for for £168k but now all 3 beds in that area tend to be between 220k to 270k  and we offered 229k, but online valuations I've looked at vary so much and one said 210k? Another said 212k  were as another said average estimate 230k  

raygcon

katrina2108 said:

Thats odd, they the first mortgage lender not to do searches for me straight away, 2 weeks and nothing on credit files, but I called them this afternoon and was told ill have a decision by end if the week as valuation booked and they gave all paperwork ready valuation should be there in 24 hours, fingers crossed all ok this week, yours seemed quick so far! 

I heard that Barclays usually do hard search straight away at the point of application submission ( I was told by their own adviser, so this is aligned with what he said ). Maybe the credit company you use is slow to update? ClearScore still doesn't show any search for me but Credit Karma has it updated straight away.

Anyway, I chased up with my case manager today only to know that she has been away. And my application has already been underwriting and Barclays asked for more document for proof of funds. Does it mean I'm at least pass the affordability check? The only thing that I need to return is signing the form confirming that I will clear the remaining debt within 30 days of mortgage release and proof of my deposit + closing cost.

salduck

My hard search appeared on my credit report today dated 5/5/22! 

Hope1440

I might as well join you guys waiting to ease my anxiety! 

Application submitted through broker 9/05
Barclays wanted more information on income requested and submitted on 19/05
called barclays yesterday told they would review before close of business..no update still

sty345

Hello!

I submitted my application on 5th May and I bank with Barclays... a few delays with them processing it (had to get it escalated as it was not being looked at) and so far they had only asked for Aprils bank statement and child benefit. Last week, we were told that its on the final stage and awaiting valuation. After being promised last week that we would receive a final decision by Tuesday, I have been told that they have now completely overlooked my documents that we submitted to satisfy their requirements for affordability. 

really quite stressed that they missed the most important step in the application....

I am really not sure what to do? My broker has been really good with communicating with me and is constantly chasing them. They keep promising by saying it will be done by the end of the day.. 

katrina2108

Sounds like a complete mess, im in the same boat really, but u gave not escalated as yet, my broker advised to give them until tomorrow and she will check again, my credit file always updates me fast on hard snd soft searches but they have not even been done yet