FD mortgages - how long for approval?

dweeby

LostSocks wrote: »

Dweeby has your valuation been sorted?

Approval given to me over the phone on Tuesday, but still no instruction to the valuers until today. They've told me that the EA will get a call from the valuer Monday or Tuesday.

No debit from our account for the valuation, although we did get all our documentation back today!

Hang on in there with yours, and keep phoning them!

It's not a quick process... my timeline updated here.

mrsm

I know no one has a crystal ball but do you think once you've been approved in principle its likely you will get full approval?

I think we're in a fairly good position, wanting to borrow 73K against a £220k house. H's salary is 21K (so we're near the top end of their lending limit) but we also get another 7.5K pa in Tax credits and Child benefit. We have one credit card paid in full each month, and a £6k loan that will be paid off from the mortgage.

But I really want this mortgage and am so worried we'll be rejected

LostSocks

It's frustrating all this waiting and it's worse for some reason this time round. I still haven't had the booking fee taken and that's part of my worry.

Mrsm, I was told that if my paperwork matches up with what I told them to get the approval in principle then there shouldn't be any problems. But it doesn't stop you worrying does it. I think when you desperately want something it's worse. I want this to replace our other mortgage offer as it would save us £30 a month.

mrsm

thanks lostinsocks. The lady I spoke to seemed pretty confident, I'm just a born worrier.

We've had an offset type of mortgage since 1998 and its worked really well for us, but our rate is due to go up in April to 7.85%:eek:. I want the FD 10 year fixed as we can clear our loan, get the boiler replaced and still be paying less than we do now. It means if we continue to overpay the amount we overpay now, and the amount we pay for the loan we can clear it in when the fixed rate finishes.
I can see why FD are so busy, and I don't mind waiting, I'm just not sure my nerves can take it:rotfl:

mrsm

oh meant to say, I paid my booking fee Monday, and I called today as its not been taken. She confirmed the rate has been booked for me but they are a little behind at processing the payments

totally_confused_3

dweeby wrote: »

Approval given to me over the phone on Tuesday, but still no instruction to the valuers until today. They've told me that the EA will get a call from the valuer Monday or Tuesday.

No debit from our account for the valuation, although we did get all our documentation back today!

Hang on in there with yours, and keep phoning them!

It's not a quick process... my timeline updated here.

Not much better here either even though approval was given on phone on Wed and they took instructions and payment for valuation. Gave them a call today trying to see if a date has been scheduled and got told tat they were trying to reach me regarding some additional questions on my valuation.

Felt quite puzzled as I answered the same questions on Wed and asked if this was a duplicate application and explained my situation tat instructions were given both on wed and on my initial application. Got told that they have now received my original forms so they SCRAPPED the valuation instructions given on wed and would only instruct the valuer today (after I answered the additional questions)!!!! :eek:

Can you imagine wat would have happened if I didn't call and check? They said they were trying to reach me this morning but I have no missed calls from them and no voice messages left either!!!!

Got also told that valuation would be scheduled on Mon/Tues. Might give them a call to check!!!!

jem16

What number are you all ringing to check on progress> Just wondered if it's a different number from the original number to call to apply.

LostSocks

jem16 wrote: »

What number are you all ringing to check on progress> Just wondered if it's a different number from the original number to call to apply.

I was calling an 0800 number that they gave you when you first applied, but once you get your welcome pack through for the current account, you are officially a customer, so you use 08456 100 100. Best to set up your security first as you have a telephone password that you need to activate.

LostSocks

How annoying for you totally_confused, it's a bit bad that you thought it was sorted and they have scrapped it.

Thanks for your update dweeby.

Hope both of you get your valuations booked on Monday.

jem16

LostSocks wrote: »

I was calling an 0800 number that they gave you when you first applied, but once you get your welcome pack through for the current account, you are officially a customer, so you use 08456 100 100. Best to set up your security first as you have a telephone password that you need to activate.

Or perhaps best to use the geographical number 0113 2766166 and save on telephone charges if you have free minutes to use.