Barclays turnaround time?

Rebecca2590

Hi all,

Just in the process of buying a house with my partner and in that anxious wait period for mortgage offer with Barclays. We went through a broker I've used before so happy with that. Just wondering as to turnaround times with Barclays at the moment?

I don't know why it's making me so nervous we have a £500k deposit and only want to borrow the £250,000 so it shouldn't be a problem. It's not a first time mortgage for either of us but have been renting for 2 years because we met eachother after separating from both our previous partners so worried the moving around will worry them. I also cleared all my debts comparatively recently (3 months) - no missed payments ever, no IVA's, no payday loans or anything like that. I also usually do 3-4 months of curating my accounts really carefully before applying and because our rental is getting sold suddenly, we were paying out for wedding deposits, plus Christmas everything is really haywire. We had anticipated buying in 1-2 years time so I wasn't being my least frivilous, again no unarranged overdrafts, living constantly in overdraft or anything scary. 

Broker wasn't too worried about any of these things, only said the credit card debts although paid off in full might flag but as I'd not missed any payments at all ever and I've now cleared them completely and closed all but 1, then it was highly unlikely to have too much of an impact. 

Application submitted: 
Thursday 27/02/24
Valuation confirmed (desktop) and done:
01/03/24

I feel like it's a big gap on them deciding since valuation was done on 1st and I know they have every single document as broker is such a thorough person. 

Any 2024 turnaround times here? 

kingstreet

I'd expect it have been offered by now. All our recent Barclays apps have been offered in a week or less.

Rebecca2590

Hmmm that's worrying. Broker says they are ringing them on a daily basis and I trust they do that. Don't like to keep chasing him every day! If they going to reject it I wish they'd just say. 

Though I realise that they may not have had the report until Monday (4th). 

kingstreet

TBH it wouldn't be the first time I've logged in to the Barclays system and found an offer has been issued with no notification from them at all.

Rebecca2590

Still nothing - broker says that mid-week so from tomorrow is best case scenario but worse case end of next week. They are speaking to them daily and nothing has been flagged as a concern other than they might query that we want the mortgage for 20 years not 25 - however, we are happy to go for 25 and make additional payments separately and they were fine with 15 years also so doubt its an issue. 

Hard checks have all been run and valuation is done - just can't understand what's taking so long. Broker not least bit concerned it's due to an issue with anything. The last time I did a mortgage it was less than a week and my financial position was quite precarious with a lot of debt! 

cass88

I submitted an application last month direct with a Barclays advisor on a Friday and had the offer come through on my banking app on the Monday afternoon (next working day)...it was super quick. This was a product port with additional borrowing for moving house

Rebecca2590

This is madness! They did the hard checks on 1st March and valuation report came through on 4th March (desktop). This is so out of pace with their turnarounds. My broker has done lots of my mortgages so I'm not concerned as he's always very on top of it. I thought a broker route was meant to be faster!

kingstreet

Have you tried this https://bank.barclays.co.uk/olb/trackit/trackit.do?#/trackit/login/

If you have your '2388' number, take the ten figures from the 9 (inc) onwards and exclude the two zeros on the end. So, 2388912345678900 the bold is your future account number.

Rebecca2590

We don't have the number as it's all done through our broker. I could ask for it I suppose but would we have one if it's done via a broker? 

kingstreet

Yes. It's on the application summary, illustration and declaration. We routinely give all these to our clients once the application has been submitted. Apparently some brokers don't. IMHO you should have all of these to ensure the data submitted on your behalf is correct.

Rebecca2590

We have the mortgage offer! Apparently they are just a bit slow at the moment.