Is this normal?

MadSebW

We got our shared ownership mortgage accepted in principle from Leeds Building Society at the end of January. We sent off the proper application a week afterwards and another week after that they needed more documents. We sent them off 2 weeks ago and the valuation was done 3 weeks ago. We are using a mortgage advisor who is using a packager and i have called a couple of times asking him to chase it up. We still have no idea if we have a mortgage offer or not and i'm tired of waiting for it. Is it normal to take a month and a half for an offer? (We are first time buyers)

Thank you,
Lea

MadSebW

Anybody have any advice on this before it falls off of the page and nobody helps lol? Ooo i am impatient :P

UK007BullDog

Are you buying the whole 100% share or are you buying a part of the share?

Also as the Housing association is involved you have to be patient.

The solicitors are also involved so it will take a while. You might ask the Solicitor and the Builder/Housing Association if they have received all documents and if they are working on them to send them back.

homer_j_3

Leeds BS seem to be hit and miss when I used them. I did one application and it was so smooth, I was impressed with everything. The second time I used them, they didn't seem to know their right from their left. The BDM was a lazy cow too.

Ultimately, they can take their time and with a packager involved (which I find strange as their S/O deals are normally available direct) this was destined to be a slow process from day one and I would have managed your expectation right at the start before proceeding.

If you need 100% of your share then they were only one of a few people that would consider this so I know your options are limited. All I can say is keep onto your broker.

MadSebW

That's great to know, thank you

Yes it's 100% hence why we had to go with them. Nobody else would have us either. I actually contacted Leeds myself near to the beginning because my mortgage advisor hadn't got any information (regarding the acceptance in prinicple) Of course they contacted him and he was a little bit annoyed it did that. He's done brilliantly tbh. But now it seems like he's not so bothered.

It just makes me so angry that the house is sitting out there unused (newbuild) and we have to be out of my mother's house asap because it's up for sale. We have 2 children and we just want to settled in and start living again. Right now everything is on hold.

UK007BullDog

A purchase can take anything from 2 weeks to 16 weeks. The best way is to call the broker or the lender direct. If they are waiting on something like from solicitor or housing association then call and chase them too.

MadSebW

Solicitor hasnt heard anything yet from the lender and can't continue until they recieve the offer. My advisor tells me every time i call not to worry and he will call me as soon as he hears anything. So we literally just have to sit tight and keep waiting. I know it can take a long time, but we still have a long way to go even after we get the offer (if we do, which i can't see why not.)

Thanks for the advice