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  • FIRST POST
    • FTBdreaming
    • By FTBdreaming 29th Jan 18, 7:01 PM
    • 17Posts
    • 8Thanks
    FTBdreaming
    Barclays mortgage time scale
    • #1
    • 29th Jan 18, 7:01 PM
    Barclays mortgage time scale 29th Jan 18 at 7:01 PM
    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!
Page 1
    • Thrugelmir
    • By Thrugelmir 29th Jan 18, 7:06 PM
    • 58,967 Posts
    • 52,291 Thanks
    Thrugelmir
    • #2
    • 29th Jan 18, 7:06 PM
    • #2
    • 29th Jan 18, 7:06 PM
    Valuation booked yet?
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • FTBdreaming
    • By FTBdreaming 29th Jan 18, 7:12 PM
    • 17 Posts
    • 8 Thanks
    FTBdreaming
    • #3
    • 29th Jan 18, 7:12 PM
    • #3
    • 29th Jan 18, 7:12 PM
    Valuation booked yet?
    Originally posted by Thrugelmir
    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
    • By Dolly123 29th Jan 18, 11:41 PM
    • 148 Posts
    • 12 Thanks
    Dolly123
    • #4
    • 29th Jan 18, 11:41 PM
    • #4
    • 29th Jan 18, 11:41 PM
    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
    • Markio
    • By Markio 30th Jan 18, 9:21 AM
    • 4 Posts
    • 7 Thanks
    Markio
    • #5
    • 30th Jan 18, 9:21 AM
    • #5
    • 30th Jan 18, 9:21 AM
    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
    • By Nicola83 30th Jan 18, 12:21 PM
    • 51 Posts
    • 35 Thanks
    Nicola83
    • #6
    • 30th Jan 18, 12:21 PM
    • #6
    • 30th Jan 18, 12:21 PM
    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
    • By FTBdreaming 30th Jan 18, 6:12 PM
    • 17 Posts
    • 8 Thanks
    FTBdreaming
    • #7
    • 30th Jan 18, 6:12 PM
    • #7
    • 30th Jan 18, 6:12 PM
    Thanks everyone for your replies! Fingers crossed we hear something soon!
    • marlasinger
    • By marlasinger 30th Jan 18, 7:13 PM
    • 465 Posts
    • 373 Thanks
    marlasinger
    • #8
    • 30th Jan 18, 7:13 PM
    • #8
    • 30th Jan 18, 7:13 PM
    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
    • By FTBdreaming 30th Jan 18, 9:10 PM
    • 17 Posts
    • 8 Thanks
    FTBdreaming
    • #9
    • 30th Jan 18, 9:10 PM
    • #9
    • 30th Jan 18, 9:10 PM
    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!
    Originally posted by marlasinger
    Wow so fast! Congratulations on the mortgage offer!
    • cbullock
    • By cbullock 1st Feb 18, 3:36 PM
    • 7 Posts
    • 1 Thanks
    cbullock
    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
    • By FTBdreaming 1st Feb 18, 7:20 PM
    • 17 Posts
    • 8 Thanks
    FTBdreaming
    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!!!!
    • Nicola83
    • By Nicola83 1st Feb 18, 7:40 PM
    • 51 Posts
    • 35 Thanks
    Nicola83
    Looks like everyone is progressing well then !!!55357;!!!56842;
    We got a request from Barclays yesterday for our authority to proceed from help to buy and once they have that they'll send an offer out!!!
    Hoping to have it by middle of next week at the latest.
    • cbullock
    • By cbullock 5th Feb 18, 7:03 PM
    • 7 Posts
    • 1 Thanks
    cbullock
    Update on mine!

    Following the survey, they asked us this morning to have a Timber and Damp Report done. I was able to find an independent surveyor with no vested interest in selling us fixes who had a slot open up tomorrow afternoon following a rescheduled appointment.

    I'm not concerned that they will find anything because the vendor had a full structural survey done on it two years ago, and we suspect the lender did a remote valuation as they didn't ask for access to the property. If you look it up on Rightmove, you can see it has exposed beams, so we think they saw those and are just wanting to double check it is all okay.

    Fingers remain firmly crossed.
    • Nicola83
    • By Nicola83 6th Feb 18, 5:15 PM
    • 51 Posts
    • 35 Thanks
    Nicola83
    Update on mine.
    After just over 2 weeks we now have our mortgage offer!!!
    Feels like it's took forever, but 2 weeks isn't bad I guess.
    Hoping to exchange this week and complete 2 weeks on Friday!!!!
    • cbullock
    • By cbullock 6th Feb 18, 5:46 PM
    • 7 Posts
    • 1 Thanks
    cbullock
    Great news, Nicola! We had our timber and damp survey today so hoping we get the report soon to pass over to Barclays.
    • cbullock
    • By cbullock 13th Feb 18, 5:48 PM
    • 7 Posts
    • 1 Thanks
    cbullock
    Still waiting.

    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.
    05/02/18 - Barclays request a damp and timber survey.
    06/02/18 - Damp and timber survey takes place.
    08/02/18 - Survey report received and sent on to mortgage provider.
    13/02/18 - Have been advised that underwriters are reviewing the report and then will pass it on to their surveyors. Next update not expected from Barclays until Monday the 19th.
    • Nicola83
    • By Nicola83 13th Feb 18, 6:14 PM
    • 51 Posts
    • 35 Thanks
    Nicola83
    Fingers crossed you hear something soon cbullock. The waiting is the hardest part.
    • cbullock
    • By cbullock 27th Feb 18, 2:41 PM
    • 7 Posts
    • 1 Thanks
    cbullock
    Still waiting!
    • cbullock
    • By cbullock 1st Mar 18, 5:02 PM
    • 7 Posts
    • 1 Thanks
    cbullock
    Mortgage offer received! Elapsed time from the application: 37 calendar days.

    Our saga was impacted by apparent technical issues between the bank and the surveying panel, but we got there in the end. Phew!
    • Nicola83
    • By Nicola83 1st Mar 18, 6:28 PM
    • 51 Posts
    • 35 Thanks
    Nicola83

    That's great news cbullock!!!
    Now the excitement really begins
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