AAAAAHHH why is buying a house so difficult
Discussion
Had two transactions fall apart on us (btoh with the chain falling apart)
Now buying a house from a couple who are moving to a house they already own. .
We have nothing to sell
Surely this is therfore easy
Nope, its taken Nationwide 4 effing weeks to produce a mortgage offer- my broker, doing a stirling job (as used by lots of PHers) is also pulling his hair out.
Surely this shouldn't be so hard......
Now buying a house from a couple who are moving to a house they already own. .
We have nothing to sell
Surely this is therfore easy
Nope, its taken Nationwide 4 effing weeks to produce a mortgage offer- my broker, doing a stirling job (as used by lots of PHers) is also pulling his hair out.
Surely this shouldn't be so hard......
PugwasHDJ80 said:
Had two transactions fall apart on us (btoh with the chain falling apart)
Now buying a house from a couple who are moving to a house they already own. .
We have nothing to sell
Surely this is therfore easy
Nope, its taken Nationwide 4 effing weeks to produce a mortgage offer- my broker, doing a stirling job (as used by lots of PHers) is also pulling his hair out.
Surely this shouldn't be so hard......
4 weeks for a mortgage offer isnt that bad in my experience? It usually comes way before anything else gets sorted anyway so doesnt usually hold things up unless you left it until last?Now buying a house from a couple who are moving to a house they already own. .
We have nothing to sell
Surely this is therfore easy
Nope, its taken Nationwide 4 effing weeks to produce a mortgage offer- my broker, doing a stirling job (as used by lots of PHers) is also pulling his hair out.
Surely this shouldn't be so hard......
HairyMaclary said:
p1stonhead said:
How is that possible if they have to visit the property to do a valuation?
Same with Barclays. Had mine approved in 2hrs! They did a virtual valuation. Ie check it existed on streetview!I just remortgaged, with a LTV rate of 40% - still had a valuation survey at that rate.
Total process took nearly 3 months. Half of that time was waiting for the bank to 'process' our documentation, which was sent the same day that we were notified as to what proof of earnings, etc., they required.
Frustratingly, after the transaction completed, we were sent surveys from both our conveyancers and the bank as to what they though of the process, with questions like 'Do you think a iPhone app where you can check your mortgage progress would improve the process'. All of the questions were binary choice, with no free ability to put free text comments - could therefore not state that it's ridiculous that in 2017, you are still required to print digital records, put in envelopes, send to different people and then wait whilst they scan, upload and create digital records. Despite waiting for this and it being the slowest part of the transaction, there were no survey questions about this part of the process at all.
Total process took nearly 3 months. Half of that time was waiting for the bank to 'process' our documentation, which was sent the same day that we were notified as to what proof of earnings, etc., they required.
Frustratingly, after the transaction completed, we were sent surveys from both our conveyancers and the bank as to what they though of the process, with questions like 'Do you think a iPhone app where you can check your mortgage progress would improve the process'. All of the questions were binary choice, with no free ability to put free text comments - could therefore not state that it's ridiculous that in 2017, you are still required to print digital records, put in envelopes, send to different people and then wait whilst they scan, upload and create digital records. Despite waiting for this and it being the slowest part of the transaction, there were no survey questions about this part of the process at all.
PugwasHDJ80 said:
Had two transactions fall apart on us (btoh with the chain falling apart)
Now buying a house from a couple who are moving to a house they already own. .
We have nothing to sell
Surely this is therfore easy
Nope, its taken Nationwide 4 effing weeks to produce a mortgage offer- my broker, doing a stirling job (as used by lots of PHers) is also pulling his hair out.
Surely this shouldn't be so hard......
Do you have info for the broker please?Now buying a house from a couple who are moving to a house they already own. .
We have nothing to sell
Surely this is therfore easy
Nope, its taken Nationwide 4 effing weeks to produce a mortgage offer- my broker, doing a stirling job (as used by lots of PHers) is also pulling his hair out.
Surely this shouldn't be so hard......
bobski1 said:
Do you have info for the broker please?
Using a broker is half his problem. Often much easier and quicker to go direct and save fees."Broker doing a sterling job" = broker telling me how difficult lender is etc,etc and how he has direct line to CEO etc,etc. It's all bs they just complicate and slow the process down.
55palfers said:
Spent 90 minutes in a bank this afternoon to close two savings accounts and open two new identical ones.
Everything takes forever.
After I was widowed 3 years ago, I had to sort the mortgage and associated insurance policies out, Being charitable, I had 21 encounters with the bank what gives you xtra - 5 were positive, 1 either way and 15 negative (mostly unanswered phone calls or answered calls and false leads and misinformation). (Being uncharitable, 5 were positive and 30 or 40 were umitigated rubbish!)Everything takes forever.
On the bright side, my late wife had her main bank account with Natwest, and it took 3 encounters - all positive - to sort out; first was a a phone call to make an appointment to see someone at a branch of my choice, second was said appointment to sort it all out with appropriate IDs and third was sending off the Grant of Admnistration by post to allow release of funds (which was extremely efficient). I cannot fault this bank!
On a depressingly similar note, my Mum passed away last September; I have had 4 encounters with the worldwide bank (?) thus far, none of which visits have been forthcoming with any sort of info at all (just a case of visiting with the same ID and copies of the will on three occasions while answering trick questions as per isometric testing) - I have probate now, so we shall see if they can get their act together (the outstanding balance is £4k)...
Regards my mum's other finances, Santander were amazingly (and immediately) helpful in paying out an ISA containing £3.5k; as were NS&I with a balance of £3k...
Banks can't get thir acts together? It's sadly too common
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