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How long are mortgage applications taking to come back at the moment?

14 replies

PowerslidePanda · 23/11/2020 11:48

Valuation has already come back ok - can anyone who's been through this recently advise how long it was between that and being approved?

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Mumbum2011 · 23/11/2020 12:51

The valuation in the house we're buying came back 2weeks ago but the bank downvalued it by 15k so we had stalemate as vendors were unwilling to negotiate. They have now and I contacted my mortgage advisor this morning and waiting on a call back to do new illustration based on revised figure. He said it will go to offer the same day and completed in 2-4 days.

PowerslidePanda · 23/11/2020 13:03

Thanks @Mumbum2011 - sounds like it's quite quick from that point then.

Any other experiences?

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PointyMcguire · 23/11/2020 13:27

We’re with Santander, valuation took place on the Saturday (surveyor working overtime to catch up) and we had our formal offer by Monday afternoon.

jojomolo · 23/11/2020 13:28

Mine took 4 days.

Whattodo121 · 23/11/2020 13:53

NatWest-valuation on the Thursday, offer on the Saturday.

movingonup20 · 23/11/2020 14:14

Ours took 10 days, I'm told by our broker that it was exceptionally quick, probably due to low loan to value and excellent income multiple (1x income)

Lilothblos · 23/11/2020 14:20

Just to provide some perspective from the other end of the scale, ours took 9 weeks after the valuation came back (Clydesdale were exceptionally slow).

ethelredonagoodday · 23/11/2020 16:07

We'd been told to expect it taking a couple of months, but it was actually only 2 weeks. We are with HSBC.

notangelinajolie · 23/11/2020 16:23

Santander. It was all very fast. From application, telephone interview, valuation and then mortgage offer, it took literally a week. Valuation to mortgage offer was next day.

unCliche · 23/11/2020 16:58

With HSBC, valuation was done today and offer given today.

PowerslidePanda · 23/11/2020 19:50

Great, thanks all! It's HSBC, so hopefully not long.

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lboogy · 23/11/2020 21:48

I've just been told NatWest are running at 6/7 week backlog for porting mortgages. Kinda peed off to be honest.

Dogdaysarehere · 24/11/2020 18:58

We sent application on Monday pm and got offer Wednesday morning. With Barclays remote valuation although we have got a 50% deposit and it’s well below our max borrowing.

cooperbug · 24/11/2020 20:21

@Mumbum2011who is your lender?

We are in the same position at present

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