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  • FIRST POST
    • srik
    • By srik 21st Jun 18, 9:48 PM
    • 7Posts
    • 4Thanks
    srik
    Clydesdale Mortgage Application to Offer Timeline via broker
    • #1
    • 21st Jun 18, 9:48 PM
    Clydesdale Mortgage Application to Offer Timeline via broker 21st Jun 18 at 9:48 PM
    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
    Last edited by srik; 29-06-2018 at 1:53 PM. Reason: update information
Page 1
    • Moo437
    • By Moo437 21st Jun 18, 11:53 PM
    • 5 Posts
    • 0 Thanks
    Moo437
    • #2
    • 21st Jun 18, 11:53 PM
    • #2
    • 21st Jun 18, 11:53 PM
    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
    • By amnblog 22nd Jun 18, 7:55 AM
    • 10,834 Posts
    • 4,317 Thanks
    amnblog
    • #3
    • 22nd Jun 18, 7:55 AM
    • #3
    • 22nd Jun 18, 7:55 AM
    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
    • By srik 22nd Jun 18, 9:24 AM
    • 7 Posts
    • 4 Thanks
    srik
    • #4
    • 22nd Jun 18, 9:24 AM
    • #4
    • 22nd Jun 18, 9:24 AM
    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 .......
    Originally posted by Moo437
    Did you have to pay for your valuation? We were given a free valuation by the bank
    • Moo437
    • By Moo437 22nd Jun 18, 9:35 AM
    • 5 Posts
    • 0 Thanks
    Moo437
    • #5
    • 22nd Jun 18, 9:35 AM
    • #5
    • 22nd Jun 18, 9:35 AM
    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
    • By Mortgage_Adviser 22nd Jun 18, 11:37 AM
    • 196 Posts
    • 77 Thanks
    Mortgage_Adviser
    • #6
    • 22nd Jun 18, 11:37 AM
    • #6
    • 22nd Jun 18, 11:37 AM
    Clydesdale are one of the slowest lenders in my experience so I would only use them when I absolutely have to.
    • srik
    • By srik 28th Jun 18, 9:09 PM
    • 7 Posts
    • 4 Thanks
    srik
    • #7
    • 28th Jun 18, 9:09 PM
    • #7
    • 28th Jun 18, 9:09 PM
    Any update on yours
    • srik
    • By srik 9th Jul 18, 2:24 PM
    • 7 Posts
    • 4 Thanks
    srik
    • #8
    • 9th Jul 18, 2:24 PM
    • #8
    • 9th Jul 18, 2:24 PM
    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
    Originally posted by srik
    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
    • By dinkylink 10th Jul 18, 1:43 PM
    • 163 Posts
    • 108 Thanks
    dinkylink
    • #9
    • 10th Jul 18, 1:43 PM
    • #9
    • 10th Jul 18, 1:43 PM
    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
    Originally posted by srik

    Thanks srik, useful to know as I applied for a mortgage with Clydesdale through a broker last week
    • srik
    • By srik 13th Jul 18, 10:47 AM
    • 7 Posts
    • 4 Thanks
    srik
    Thanks srik, useful to know as I applied for a mortgage with Clydesdale through a broker last week
    Originally posted by dinkylink
    Received PDF copy of formal offer by email from broker on 12/07/18
    • Moo437
    • By Moo437 14th Jul 18, 12:26 PM
    • 5 Posts
    • 0 Thanks
    Moo437
    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!
    • dinkylink
    • By dinkylink 3rd Aug 18, 2:07 PM
    • 163 Posts
    • 108 Thanks
    dinkylink
    Thought I'd bump this in case anyone had a similar query, as I received my mortgage offer via email yesterday.


    Took pretty much bang on a month from submitting my initial application through a broker to getting my offer.


    Early on things were super speedy with the valuation being instructed early doors (and matching what I estimated the value of the property to be) and my application being 'credit approved' not long after getting the valuation back


    Last 2 and a half weeks or so have been a bit more 'sticky'; several updates stating that an offer was expected in the next 24-48 hours but nothing materialising.


    Still, got there in the end. I suspect going through a pro-active mortgage broker who kept chasing, got the matter 'escalated' and who spoke to Clydesdale's Business Development Manager certainly helped get it over the line! And overall pretty happy with Clydesdale; a month from application to offer seems very reasonable to me.
    Last edited by dinkylink; 03-08-2018 at 2:23 PM.
    • haras_nosirrah
    • By haras_nosirrah 3rd Aug 18, 5:40 PM
    • 1,598 Posts
    • 2,848 Thanks
    haras_nosirrah
    I am a broker and just had a clydesdale mortgage offer
    from submitting the application to getting to the underwriter took 3 weeks. In total took 1 month to get the offer and there were no underwriter queries. Offer went in 29th june and came out on 30th july
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, 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.
    • Twiggy026
    • By Twiggy026 4th Oct 18, 8:31 PM
    • 1 Posts
    • 0 Thanks
    Twiggy026
    Our Time Line- Lender: Clydesdale
    Application made by Broker: 20/09/2018
    Valuation Instructed on: 24/09/2018
    Valuation Booked on: 24/09/2018
    Valuation Date: 27/09/2018
    Verbal Confirmation of Satisfactory Valuation: 28/06/2018
    Recevied Email and Phone call from Broker to advice application approved-02/09/2018
    Mortgage offer received- 04/09/2018

    I honestly take my hat off to Clydesdale. They were super quick with everything can’t fault them one bit. I know people say they are a slow lender but I feel as if that’s as fast as any of the big name lenders especially considering we are doing a 95% mortgage I thought they’d be extra strict and cautious.
    • WorrierGalore
    • By WorrierGalore 21st Oct 18, 3:43 PM
    • 5 Posts
    • 0 Thanks
    WorrierGalore
    ’m need of some help!

    Me and my partner have applied for a mortgage with the Clydesdale Bank. The initial advice and recommendation was last Monday and that was all fine and affordability checks were fine. It had to go to an underwriter due to the stress test resulting in the affordability being an issue. The credit check person (apologies I don’t know their exact role) came back saying it was a decline. Affordability was fine, but it was the fact that we’d recently done a balance transfer each to 0% credit cards and I had recently taken a loan the month prior and they thought we were living above our means. I then explained that we only did this to lower our outgoings in preparation for the mortgage and they agreed that if we cleared 2 smaller credit cards, so just to leave 2 balance transfer cards, 1 loan and a car lease and we went for a 5 year fixed instead of a 3 years then it was approved.

    The valuation has now come back and it’s all fine and the adviser has passed it to the ‘processing team’. She’s requested our last 2 payslips each, evidence of deposit and for us to complete and return the KFI and direct debit mandate. She hasn’t asked for bank statements at all, and even when I offered, she said I didn’t need to.

    I’m really nervous as I’m just a natural worrier, but also we have agreed a great price for the house due to being FTB and being able to move quickly, so if Clydesdale decline us and we have to start again the we may lose the house.

    What are the potential reasons we could be declinedv we’re after a 95% LTV and the deposit is a gift from my partners mum, however they haven’t asked for source of deposit, only evidence of it. Could this result in a decline?

    Will this ‘processing team’ be requesting bank statements from me?

    My partners last 2 payslips make it look like she’s only been there 2 months (due to her year to date earnings), but she’s actually been there a year, only 10 months of that was via an agency and she went permanent in August. I can evidence this, but I don’t know if all of these things combined will result in a decline?

    Our bank statements will show is spending a lot more on food and socialising than we intend to spend once we get the mortgage, and the only reason we overspend on these things is due to the fact we don’t have a mortgage so we have the spare disposable - could this result in a decline due to them thinking we live above our means, even though this isn’t how we’d live once we have the mortgage?

    Any answers to the above would be appreciated!
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