What comes next

Tilrong

I'm a bit of a newbie as far as it comes down to mortgage applications and wondered what the process is and how long each bit should take (I've done by DIP and applied and the mortgage is with abbey if that makes any difference).

Also if/when a survey is instructed does that mean that it has passed the credit-check/underwriting bit as i've got a bad mark or two on my credit-record (a default which was about 3 years ago and was satisifed then and the occasional late credit-card payment)

_Andy_

Hi Tilrong

Welcome to MSE

Abbey will only instruct the vaulation when they've fully approved the mortgage.

Tilrong

Excellent, thats good news as i've been told that the surveyor has been instructed and they've been in contact with the estate agent.

I'm just suprised that they haven't asked for payslips/bank statements yet or is that the meaning of the fast track application that i'm on?

_Andy_

Tilrong wrote: »

I'm just suprised that they haven't asked for payslips/bank statements yet or is that the meaning of the fast track application that i'm on?

Spot on - you credit scored well so Abbey are happy not to see them, to speed up the process. However, as with any fast-track mortgage, they are entitled to ask for proof of income at any point during the application process.

Tilrong

Thanks again _Andy_, although i'm a little concerned as they've took my money for the valuation and its happening on tuesday but i've only just today received the application form from the broker.

The thing that concerns me is that there's the broker hadn't put in my existing credit commitments although it might be because i'll be paying them off on completion of my property sale.