Clydesdale Mortgage Application to Offer Timeline via broker

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srik
srik Posts: 7 Forumite
edited 29 June 2018 at 1:53PM in Mortgages & endowments
I am just trying to find out exactly how long on average Clydesdale bank are taking for mortgage applications made through broker. I have heard they can be very slow compared to majority of lenders

Our Time Line
Application made by Broker: 18/06/2018
Valuation Instructed on: 20/06/2018
Valuation Booked on: 21/06/2018
Valuation Date: 27/06/2018
Verbal Confirmation of Satisfactory Valuation: 29/06/2018
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  • Moo437
    Moo437 Posts: 5 Forumite
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    We!!!8217;re also waiting on a decision from Clydesdale but they seem to process different applications in different orders - I!!!8217;m wondering if it depends on whether you!!!8217;re paying for the valuation yourself or not (we aren!!!8217;t!) - our timeline so far:

    Application submitted via broker: 31 May
    Credit check done: 11 June
    Picked up for underwriting: 13 June
    Valuation instructed: 19 June

    And that!!!8217;s it so far .......
  • amnblog
    amnblog Posts: 12,443 Forumite
    First Anniversary Name Dropper Photogenic First Post
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    Stone Age processes so an accurate timescale difficult.

    Expect to exercise some patience.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • srik
    srik Posts: 7 Forumite
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    Moo437 wrote: »
    We!!!8217;re also waiting on a decision from Clydesdale but they seem to process different applications in different orders - I!!!8217;m wondering if it depends on whether you!!!8217;re paying for the valuation yourself or not (we aren!!!8217;t!) - our timeline so far:

    Application submitted via broker: 31 May
    Credit check done: 11 June
    Picked up for underwriting: 13 June
    Valuation instructed: 19 June

    And that!!!8217;s it so far .......

    Did you have to pay for your valuation? We were given a free valuation by the bank
  • Moo437
    Moo437 Posts: 5 Forumite
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    Yes ours was free as well but they seem to have credit checked and underwritten before valuation with ours - Every post I have read about Clydesdale seems to say different!
  • Mortgage_Adviser
    Mortgage_Adviser Posts: 374 Forumite
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    Clydesdale are one of the slowest lenders in my experience so I would only use them when I absolutely have to.
  • srik
    srik Posts: 7 Forumite
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    Any update on yours
  • srik
    srik Posts: 7 Forumite
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    srik wrote: »
    I am just trying to find out exactly how long on average Clydesdale bank are taking for mortgage applications made through broker. I have heard they can be very slow compared to majority of lenders

    Our Time Line
    Application made by Broker: 18/06/2018
    Valuation Instructed on: 20/06/2018
    Valuation Booked on: 21/06/2018
    Valuation Date: 27/06/2018
    Verbal Confirmation of Satisfactory Valuation: 29/06/2018

    Our Time Line- Lender: Clydesdale
    Application made by Broker: 18/06/2018
    Valuation Instructed on: 20/06/2018
    Valuation Booked on: 21/06/2018
    Valuation Date: 27/06/2018
    Verbal Confirmation of Satisfactory Valuation: 29/06/2018
    Telephone Call from Broker to advice that file passed to underwriter: 02/07/2017
    Hard Credit Check on Experian- 02/07/2018
    Phone Call from Broker advising underwriter requesting additional documentation-05/07/2018
    Additional Documents submitted-05/07/2018
    Recevied Email and Phone call from Broker to advice application approved-09/07/2018
  • dinkylink
    dinkylink Posts: 228 Forumite
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    srik wrote: »
    Our Time Line- Lender: Clydesdale
    Application made by Broker: 18/06/2018
    Valuation Instructed on: 20/06/2018
    Valuation Booked on: 21/06/2018
    Valuation Date: 27/06/2018
    Verbal Confirmation of Satisfactory Valuation: 29/06/2018
    Telephone Call from Broker to advice that file passed to underwriter: 02/07/2017
    Hard Credit Check on Experian- 02/07/2018
    Phone Call from Broker advising underwriter requesting additional documentation-05/07/2018
    Additional Documents submitted-05/07/2018
    Recevied Email and Phone call from Broker to advice application approved-09/07/2018


    Thanks srik, useful to know as I applied for a mortgage with Clydesdale through a broker last week
  • srik
    srik Posts: 7 Forumite
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    dinkylink wrote: »
    Thanks srik, useful to know as I applied for a mortgage with Clydesdale through a broker last week

    Received PDF copy of formal offer by email from broker on 12/07/18
  • Moo437
    Moo437 Posts: 5 Forumite
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    We!!!8217;ve still not heard after applying 31 May - approaching the 7 week mark now. Broker keeps saying it!!!8217;s normal nothing to worry about but we!!!8217;re getting really stressed out with the whole process now!
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