Avant - Delays?

K

Kiki22

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Hi there
I am selling my house and the purchaser is going with Avant. We are getting worried due to serious delays on there with with apparent issues of a physical loan offer getting issued to their solicitor.

Can someone clarify if this is normal or is there something off? It took them 5 weeks to get a verbal on the loan offer from Avant and we are nearly 2 weeks waiting for there physical copy of the loan offer to issue for signing?

Thanks In advance
 
When I switched to Avant I was told that there are delays because there is high demand for their mortgage products i.e. low rates and two banks leaving the market.
 
They're not known for their speed at present. They've likely been dealing with a lot of mortgage switching from UB & KBC. The following thread will give you some idea of the timelines people have faced with Avant:


Avant Mortgage - new mortgage time line experience?

Morning Currently with UB, and had started the process of switching mortgages. We have however decided to look at moving house which will involve getting a new 50% LTV mortgage @450k. Have therefore instructed the broker to cancel the switch application and begin a new application for a new...
www.askaboutmoney.com
 
I’ve also heard that they’re having problems retaining staff at the moment, which might be impacting their service delivery.
 
I am switching to them and even though I had all docs within two days, their response time for AIP is 10-14 days, so this doesnt seem off.
 
Contacted broker re switch on 17 Feb. Application submitted to broker on 28 Feb. Broker submitted to Avant on 28 March. No approval in principle yet. Broker says cases taking up to 50 days to approve even though acknowledges our case is straight forward
 
There is another thread with people posting timelines, although it is low on volume as multiple people are stuck in the switching process. Mine is taking so long, with so many different things coming up, silly stuff like requesting a document they previously accepted, that I'm about convinced they don't actually want the business. Right now I'm 35 days after AIP and Avant have said they need another 5 working days for final checks before they can agree a draw down date.
 
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