Chelsea Building Society

rustybucket

Hello,

Just a quick question that maybe some brokers can help with.

We have applied for a mortgage with the Chelsea, near prime. We have been agreed in principal and the valuation has been done and is as the agreed price.

I understand that the next bit is the underwriters have to check the application, any idea how long this will take?

How long will it take them to make a formal offer?

If they have agreed the mortgage in principal does that mean things should be ok? Just a little worried about it all.

Any words of advice most welcomed.

rustybucket

No advice? Blimey I didn't think it was that hard a question

allan673

rustybucket wrote: »

Hello,

Just a quick question that maybe some brokers can help with.

We have applied for a mortgage with the Chelsea, near prime. We have been agreed in principal and the valuation has been done and is as the agreed price.

I understand that the next bit is the underwriters have to check the application, any idea how long this will take?

How long will it take them to make a formal offer?

If they have agreed the mortgage in principal does that mean things should be ok? Just a little worried about it all.

Any words of advice most welcomed.

probably upto 10 days to check the application, then upto 10 days to receive the offer? check out this thread for timescales with first direct - shouldnt differ too much between lenders.im just re-mortgaging myself and they said between 6 to 8 weeks from start to finish.
hope it helps you.
http://forums.moneysavingexpert.com/showthread.html?t=738625
p.s you should be fine if its agreed in principle, especially with your deposit. they needed 3 months worth of wage slips and bank statements, plus last years p60.