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mortgages

(17 Posts)
1805 Mon 08-Jun-15 17:16:54

How long did it take your mortgage application to come through? Our buyers are STILL waiting on theirs to be confirmed. hmm

beardeddragon174 Mon 08-Jun-15 18:11:17

Ours took about 8 weeks - this was 2 years ago mind. Apparently it is much harder to get one now - new rules in place etc.

MrsJacksonAvery Mon 08-Jun-15 18:15:11

Mine took about 8wks - this is in 2015. Apparently that is excessively long.

1805 Mon 08-Jun-15 18:28:28

Im getting worried our first time buyers can't get one. it's been nearly 9 weeks now. They had an agreement in principal, so I guess we just wait.

Notyetthere Mon 08-Jun-15 19:13:36

Ours came in 2.5wks in April 2013. Survey was done 2wks after application and text from bank came that same day afternoon confirming offer. But then we were a straight forward case.

Notyetthere Mon 08-Jun-15 19:15:00

9 weeks is a long time. Have they confirmed what the hold up is. Have your EA ask them.

purplecloud123 Mon 08-Jun-15 21:25:17

Ours took 3 weeks, got it last week. Even that felt like forever.

CrapBag Mon 08-Jun-15 21:52:41

Ours was a few weeks at most this time last year. 9 weeks is a long time. The rules are very strict now. Possibly depends on who they are asking. We initially went with Nationwide as existing customers but they were so ridiculous we gave up and went with Halifax instead who did it really quickly (through a broker though).

1805 Mon 08-Jun-15 23:00:38

I have been on the phone trying to chase this up most of this morning, but of course no one can disclose any relevant information to me.
I have told the EA that I am worried now that they are going to pull out.
Ourselves and the house above us are pretty much ready to exchange.

nickEcave Tue 09-Jun-15 10:49:31

I'm in the same position! We are ready to exchange with the house above us but our first time buyers have just cancelled their valuation appointment which was supposed to happen today. They had a mortgage in principle so I assumed there would be no problem them getting their mortgage but now I'm not so sure

1805 Tue 09-Jun-15 19:09:16

nickecave - poor poor you. I really feel for you. I'll be gutted if we don't get this house. We've had a mortgage valuation on our current house, so I'm hoping their mortgage will go through. How can it possibly take 9 weeks though???

CanISayOfHerFace Tue 09-Jun-15 19:15:09

Ours took 8 or 9 weeks to get approved (this year). Our broker advised us it would take this long.

nottheOP Tue 09-Jun-15 19:16:52

The easter and may bank holidays fell in that time too which won't help matters

CrispyFB Tue 09-Jun-15 20:55:12

Took us about six weeks to get it for definite, although we knew five weeks in because NatWest only do a survey when you've passed affordability. We started our application three months ago and completed a month ago.

I think there are a few extra delays at the moment, probably due to people suddenly deciding to buy houses in the spring because apparently that's what they do (why?!!)

mandy214 Tue 09-Jun-15 21:41:07

We have just been through this - remortgage but with a different lender than existing mortgage and used a broker. Had a mortgage valuation. I would say we are straightforward borrowers - standard family, 2 decent incomes, no debt, good credit history etc. It took about 7.5 weeks from instructing broker to getting a mortgage offer.

elephantfeet Tue 09-Jun-15 22:39:39

Mine took 2-3 weeks around easter time this year.

Isthereeverarightime1 Wed 10-Jun-15 13:26:36

We have just sent our application off and been told there is a few week delay for it to be initially underwritten to access financial status, we were advised by our broker that if our finances don't check out (self employed dp so not straightforward) then a valuation won't be arranged so it seems a good sign that the valuation has been done!?
It can go back and forth for various reasons and if your buyers are slow at responding then it can cause delays!

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