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Mortgage application gone to audit

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Rainbow19914
Rainbow19914 Posts: 2 Newbie
First Post
in Mortgages & endowments
Mortgage application went in just over a week ago and got to valuation point. Now pulled for audit? Should I be worried it will be declined or is this completely normal? (Not received a mortgage offer yet) 

Comments

  • RelievedSheff
    RelievedSheff Posts: 12,691 Forumite
    10,000 Posts Sixth Anniversary Name Dropper Photogenic
    Chances are everything will be fine. Try not to worry.
  • ACG
    ACG Posts: 24,555 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Every now and again we have applications pulled for audit. I think they have all gone through to offer from memory, certainly the vast majority have. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Hoenir
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    edited 24 February at 5:28PM
    Internally audits will be conducted on the quality of the work performed by the underwriting team. Adherance to regulatory standards and internal lending policy. Random individual applications will frequently be selected for spot checking.  Lenders advance billions of £'s every year. Fraudsters will take every opportunity to exploit any weakness in systems. 

    Yes there might be a slight delay. Otherwise nothing to concern yourself about. 
  • Rainbow19914
    Rainbow19914 Posts: 2 Newbie
    First Post
    Audit complete all was fine. Looks like it was back a few days ago but not picked up on until MA chased it. Now ready for the valuation to be completed hopefully today or tomorrow 🤞🏻🤞🏻
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