Barclays mortgage time scale

FTBdreaming_2
FTBdreaming_2 Posts: 19 Forumite
in Mortgages & endowments
Hi guys,

Email received from the broker saying that Barclays have received our documents and are being reviewed by the underwriters. Have sent the declaration off too.

How long until we hear back to see if we have an offer or not?

I'd ask my broker but they're closed now and i'm itching to know!
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Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Name Dropper Photogenic First Anniversary First Post
    Valuation booked yet?
  • FTBdreaming_2
    FTBdreaming_2 Posts: 19 Forumite
    Thrugelmir wrote: »
    Valuation booked yet?

    No valuation booked. It's a new build that isn't built till June so not sure on how that works?

    Also, I can't see any credit checks on Experian from Barclays either?
  • Dolly123
    Dolly123 Posts: 189 Forumite
    You will still have a mortgage valuation done very soon they will just go off comparable houses on the development and look at the plans and drawings :D
  • Markio_2
    Markio_2 Posts: 4 Newbie
    My broker submitted the application to Barclays on the Monday and I had an offer through the post on the Saturday. They did a desktop valuation which sped things up.
  • Nicola83
    Nicola83 Posts: 71 Forumite
    We're in the same boat, we have reserved a new build which will be ready in a couple of weeks.
    Our application went into Barclays 2 weeks ago yesterday, hard credit checks have been done on both of us, they were on our reports as quickly as the same day.
    Our valuation was done on the Friday of that week with the results coming back last Tuesday. We're still waiting unfortunately.
    I've pestered our MA every other day to the point she's sick of me, but she tells me they have a backlog and they just have to work through it and I need to stop worrying but I can't help it!
  • FTBdreaming_2
    FTBdreaming_2 Posts: 19 Forumite
    Thanks everyone for your replies! Fingers crossed we hear something soon!
  • marlasinger
    marlasinger Posts: 478 Forumite
    First Post First Anniversary Combo Breaker
    We have applied with Barclays, and our timescale was this:

    Mortgage application signed and sent to underwriters - 23/01/2018
    Valuation of house - 26/01/2018
    Mortgage offered - 29/01/2018

    So, very quick turnaround!
    marlasinger

  • FTBdreaming_2
    FTBdreaming_2 Posts: 19 Forumite
    marlasinger wrote: »
    We have applied with Barclays, and our timescale was this:

    Mortgage application signed and sent to underwriters - 23/01/2018
    Valuation of house - 26/01/2018
    Mortgage offered - 29/01/2018

    So, very quick turnaround!

    Wow so fast! Congratulations on the mortgage offer! :beer:
  • cbullock
    cbullock Posts: 7 Forumite
    First Anniversary
    23/01/18 - Submitted mortgage application through broker
    24/01/18 - Advised via broker that credit search has been successful and mortgage approved subject to underwriting and property valuation
    25/01/18 - Mortgage declaration signed and returned to broker
    01/02/18 - Update from broker saying the valuation report has been received by Barclays and that it's now going to underwriting.

    So I guess they might have done a desktop valuation for us (not a new build). Now we just wait and worry while the underwriter does the thing!
  • FTBdreaming_2
    FTBdreaming_2 Posts: 19 Forumite
    Hi guys!
    An update from me!

    22/01/18 DIP with Barclays
    26/01/18 Full application via broker
    29/01/18 Barclays confirm application is with the underwriters
    01/02/18 Application approved subject to valuation!!!!
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