Timeline for Metro Bank Mortgages?

Twins

Hello all,

I'm wondering if anybody has had any experience with Metro bank and how long they take to review mortgage applications?   I'm hearing they have a backlog right now but would be keen to hear of any good/bad experiences and what they are like as a lender?   

Thank you!

K_S

@twins You can see their current average service levels by scrolling down their intermediary page here

https://www.metrobankonline.co.uk/intermediaries/

Twins

K_S said:

@twins You can see their current average service levels by scrolling down their intermediary page here

https://www.metrobankonline.co.uk/intermediaries/

Thank you!!  Gosh, they seem to be quite behind then.  I notice now it says 11 working days for first acknowledgement whereas when you took that screenshot it was 8 working days!  The waiting is going to kill me!

Appreciate the reply so thank you.

newdriver101

@Twins - please can I ask about your experience with Metrobank and how long your mortgage took? Trying to gauge if their processing timelines are as published. Thanks.

Twins

newdriver101 said:

@Twins - please can I ask about your experience with Metrobank and how long your mortgage took? Trying to gauge if their processing timelines are as published. Thanks.

Hey Newdriver.  Well it's been a long painful journey so far.  We submitted our application on 19th July and we've only just moved into under writing queue this week!   We are being told to expect a further 10 working day outcome which is just madness.   However, speaking to my broker he is saying that all lenders are in the same situation right now with huge backlogs of applications.  I was reading the Santander mortgage timeline thread on here and can see similar frustrations with wait times.
Good luck with your application, hope it it's too long a wait for you!   

newdriver101

@twins - hi, just checking if you had any update on your application?
My application went to underwriter last week Friday (26th) - they asked for additional information (which I provided) so just playing the waiting game...

Twins

newdriver101 said:

@twins - hi, just checking if you had any update on your application?
My application went to underwriter last week Friday (26th) - they asked for additional information (which I provided) so just playing the waiting game...

Hi!   Ooh how exciting but understandably it is so nerve wracking!  It's definitely a long waiting game from here on in.   We are now at the stage of waiting for our house to be valued which is happening this Friday.  Fingers crossed it's just a tick in the box and then we get the mortgage approval.  It feels like it's been forever but finally we are getting there, just can't relax until we see the approval though.

Best of luck, really hope your application goes through smoothly!  Keep me posted

blueblossom

Have either of you had any update / luck?
I’m in a similar situation!! 10 weeks later we’re still waiting. It’s a nightmare!

newdriver101

@blueblossom - hi - I did get my offer last week - approx. 5 weeks in total!!  My broker did put in a request for my application to be accelerated (as I had received notice to complete + developer had threatened to start charging interest if I did not complete) - I didn’t think the request had made a difference but judging from your timeframe - it looks like it did…. Metro are really slow… Good luck!!  

@twins - hi, have been thinking of you - any update your end?  I know you’ve had a really long journey… hope there is light at the end of your tunnel - fingers-crossed for you…

blueblossom

@newdriver101 thank you for the reply! Oh that’s amazing news, congrats. 

We applied in august and went to the underwriting queue approx 4 weeks ago so fingers crossed it’s not much longer!

Timespringseternal

@blueblossom @Twins
Just wanted to see how you had got in with Metro bank mortgages please?

I applied late July and has taken an eternity, underwriter approved a few weeks ago, surveyed 3 weeks ago and waiting for the mortgage offer, but getting twitchy with all the market turmoil…