Hi,
New to the mortgage game, we're an older couple (40s/50s) applying for a small mortgage (sub 100k) over a short term (12 years) to allow us to buy our first home.
We're finding our bank (UB) to be very, very slow and unresponsive, and are just wondering if this is commonplace, or if we've just got unlucky with our choice of bank/branch.
It's 5 weeks since application first submitted. However there was one piece of paperwork which needed clarification before the application could be keyed in, and it took a whole two weeks for the bank to come back and ask for this.
So in theory the application was sent to underwriters about two and a half weeks ago (assuming they did actually key it in once we responded to the query - they said everything was good to go).
We were told then we'd probably have a response in 48 hours, a week tops.
When we query, the bank just never get back to us - absolute radio silence.
So, is this normal. Should we cut our losses and apply somewhere else, or are all lenders prtty much the same?
OldNewbie.
New to the mortgage game, we're an older couple (40s/50s) applying for a small mortgage (sub 100k) over a short term (12 years) to allow us to buy our first home.
We're finding our bank (UB) to be very, very slow and unresponsive, and are just wondering if this is commonplace, or if we've just got unlucky with our choice of bank/branch.
It's 5 weeks since application first submitted. However there was one piece of paperwork which needed clarification before the application could be keyed in, and it took a whole two weeks for the bank to come back and ask for this.
So in theory the application was sent to underwriters about two and a half weeks ago (assuming they did actually key it in once we responded to the query - they said everything was good to go).
We were told then we'd probably have a response in 48 hours, a week tops.
When we query, the bank just never get back to us - absolute radio silence.
So, is this normal. Should we cut our losses and apply somewhere else, or are all lenders prtty much the same?
OldNewbie.