Skipton stress

PinkRose1983

It will be 4 weeks on Tuesday since my mortgage application was submitted. Last week they requested my tax year overview from 2023, which had already been submitted. Also a copy of my marriage certificate. It just seems to be never ending. My broker tells me this is normal for Skipton and “nothing out of the ordinary is happening”, yet when I google everyone is saying Skipton are quick. It is a 95% LTV and I am self employed so guess that’s why. I’m terrified they will decline it, which will be a waste of 4 weeks. The valuation was done two days after the application was submitted. Surely if it was a decline it would have happened by now. Stressed!! 

Myci85

Fingers crossed for you. 

We found similar with Skipton, instead of asking for all extra documents in one go, they seemed to ask for one, take 2 working days to review, then ask for another, and so on. Felt like it went on for weeks, and unfortunately in our case they did decline in the end as they weren't happy with my partner's fixed term work contract being so close to the end without a confirmed extension. 

I think they're perhaps quick in easy cases, but hopefully the fact they're still asking for documents is a good sign as they're not saying no, they're trying to build a big enough picture of your circumstances to make sure they're happy to lend. 

PinkRose1983

Myci85 said:

Fingers crossed for you. 

We found similar with Skipton, instead of asking for all extra documents in one go, they seemed to ask for one, take 2 working days to review, then ask for another, and so on. Felt like it went on for weeks, and unfortunately in our case they did decline in the end as they weren't happy with my partner's fixed term work contract being so close to the end without a confirmed extension. 

I think they're perhaps quick in easy cases, but hopefully the fact they're still asking for documents is a good sign as they're not saying no, they're trying to build a big enough picture of your circumstances to make sure they're happy to lend. 

Oh no, how long did it go on for before you got a no? 

ACG

Skipton are in my oinion one of the best lenders out there. Common sense, quick and just generally easy to work with. 
I suppose there will always be exceptions. But I think you need to listen to your broker, if they are still confident it will proceed then relax. 

the underwriter is asking for documents. Its rare they would do that if they are expecting to decline it, why drag it out to still say no? 

PinkRose1983

ACG said:

Skipton are in my oinion one of the best lenders out there. Common sense, quick and just generally easy to work with. 
I suppose there will always be exceptions. But I think you need to listen to your broker, if they are still confident it will proceed then relax. 

the underwriter is asking for documents. Its rare they would do that if they are expecting to decline it, why drag it out to still say no? 

that’s reassuring, Thankyou, as a first time buyer I’m very anxious and I guess just presumed it would be much quicker than this 😊

ACG

It should be.
But occasionally things dont quite go to plan. I do a lot of adverse so I am used to more complex cases. I say to most of my customers that for as long as the underwriter is asking for documents, they are not declining your case so dont panic... I dont think any of them believe me haha. 

If newly married and ID is in maiden name or they cant pick your married name up then its not uncommon to ask for a marriage certificate, its an easy win to satisy, dont worry. 

No19v87

My mortgage broker used to say “you have to remember mortgage lenders want to lend money” and that was the reassurance we needed throughout.