Dealings with a certain bank - new mortgage application

D

deltrotter

Registered User
Messages
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Hi All,

I was talking with a bank a few weeks ago re: a new mortgage application. There were several calls back and forth so the person definitely knew of me. I gathered all the required information and filled out all the relevant forms to apply for an approval in principal.
The person from the bank said they would get back to me shortly.

5-6 weeks has since passed and I've heard nothing. I'm thinking we will hold out for another few months before re-applying but just wondering what peoples thoughts are on this? I sent over some very sensitive personal information and to be honest it speaks volumes to me about the bank that they couldnt even have the decency to follow up with me be it good or bad news.

Thoughts? Has anybody else experienced anything similar?

Cheers
 
I would imagine the response time is a function of how complex your case is to assess and the work load of the individuals involved in the process.
 
Agree with Jim but you should be getting feedback/an answer within a week, once all the documentation is together.
 
Thanks guys. The last comment was they would "be back to me shortly".

I'll leave it another week or two and see how it progresses.
 
While it's frustrating and unprofessional that they haven't been in contact, I'd phone them and ask what the status is.
Your application might be at the bottom of someone's pile.
Or, did you need an exemption? They might be waiting to issue you an approval valid from 1st January, and forgot to let you know. If they refused the application, it might appear on an internal log if you apply again, so someone might be holding it until it can be approved.
A quick phone call will get someone to look into it and get back to you.
 
Agree 100% with Red Onion.

The point about the approval needing an exemption and the time of year is a particularly important one, if it applies in this instance.

People should never be afraid to pick up the phone, or send a short polite email asking for an update.
 
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