abbey mortgage backlog

bevb_2

Hi there,
Does anyone have any idea of timescale of backlogs with the Abbey. We've accepted an offer on our property on the understanding that the buyers had a mortgage approved in principle and could move quickly ( we're almost ready to complete on another property and were going to rent this one out if these buyers hadn't come along). The estate agent has rung us this morning and told us that they're getting a mortgage with the Abbey who are experiencing delays and some people on their books have been waiting for weeks to even get a valuation with them. We can't afford to just hang on indefinately can someone shed some light on the situation please.

_Andy_

Depends on which service centre it's gone to. Abbey aren't instructing valuations at the moment until all the other checks (income, credit, etc. etc) are done.
Give Abbey a call to chase them up.

bevb_2

The buyers supposedly had a mortgage offer in principle so does that not mean all the checks and stuff had been done already? We're in Cornwall but I wouldn't have a clue where there application has gone, our estate agent is meant to be chasing it up so hopefully she'll have some news in the next couple of days.

_Andy_

Sorry mis-read as I skim-read your first post. In that case you can't ring up due to data protection.

sarkin

a DIP means the lender will lend on the information provided, but the case still needs to go to underwriting aand can be declined. i use the Dorset team they are getting offers out in 10-15 days which is good as they are busy.

glen8

from first phone call to recieving the mortgage deeds from solicitors was 6 working days

we were a previous abbey customer tho :T

bevb_2

Thanks for the replies. I'd been reading a forum about abbey delays on the money supermarket site and it's all doom and gloom on there, people are saying it's been seven weeks and they are still waiting to hear. I guess people don't always post the positive stuff though. A liitle bit of hope would be nice cos we don't want to be stuck here any longer than necessary.

Bexter

Since this is an Abbey mortgages thread, can anyone please tell me if they a) usually do an employers reference (if payslips and salary confirmation letters have been sent to them already) and b) once an offer is issued, how long is it valid?