Mortgage process a nightmare

W

Wispa

Guest
Anyone else in our position? We signed a contract with our solicitor for a mortgage in Jan. We fulfilled all the conditions attached to the mortgage offer. We our currently paying for life insurance and home insurance on the home we don't have (one off home) for 2 months. Now, they are continuously coming back with more requests i.e revaluation on existing property (we are building on this), new income certs, now they are saying something about us buying the house from a relative which is not so and on and on it goes. Just curious is there anyone out there that has been through this? We are going crazy!!
 
I got a mortgage 6 years ago. Very little hassle.
I got a top-up last year of about 12% of the original mortgage. It was a completely different experience. Like you I had letter after letter, query after query from the bank before they finally allowed me to draw down. It took ages. My builder was going crazy. The banks have turned back into the ‘old’ way of banking. People are afraid of bank managers again!
 
spreadsheet said:
I got a mortgage 6 years ago. Very little hassle.
I got a top-up last year of about 12% of the original mortgage. It was a completely different experience. Like you I had letter after letter, query after query from the bank before they finally allowed me to draw down. It took ages. My builder was going crazy. The banks have turned back into the ‘old’ way of banking. People are afraid of bank managers again!
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Yes also our builder is chomping at the bit. This of course adds to the stress. I am glad to hear that you finally got the cheque. We have been told 3 times already that we are in the cheque writing queue only to have them come back looking for something else. I hope all we need now is patience.
 
Can I ask which bank you are with? From my personal experience, it took me almost a year to get my mortgage from KBC (or IIB as they were known then).
 
Im going through EBS at the moment too , hoping to draw down in 2 weeks , yes theres an awful lot of hoop-jumping to be done nowadays , Its like getting blood out of a stone. Try deal with only one person , I'll only deal with the Asst manager that I've been dealing with since sept last year , if you deal with more than one you cant be guranteed that they'll communicate with each other !
Ask specifically what is required now prior to cheque issue, make an appointment & physically go in if you have to . Its a pain getting off work etc but its so much easier face to face . The bloke i deal with always sent me home with a written list like homework ! At least I knew where i stood ! .

Best of luck & keep perservering !
 
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Renter 27, We have been working through a broker. Yes I would agree that communication may be part of the problem. A case of too many cooks. We have considered visiting the office ourselves. Thanks for the advise and we certainly will persevere.
 
Renter27 said:
Im going through EBS at the moment too , hoping to draw down in 2 weeks , yes theres an awful lot of hoop-jumping to be done nowadays , Its like getting blood out of a stone. Try deal with only one person , I'll only deal with the Asst manager that I've been dealing with since sept last year , if you deal with more than one you cant be guranteed that they'll communicate with each other !
Ask specifically what is required now prior to cheque issue, make an appointment & physically go in if you have to . Its a pain getting off work etc but its so much easier face to face . The bloke i deal with always sent me home with a written list like homework ! At least I knew where i stood ! .

Best of luck & keep perservering !
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I dealt directly with EBS direct services and found them to be very efficient.
They made a couple of errors, but the whole process was fairly painless and it only took me approx 2 months to buy my apartment. I couldn't get a mortgage with the so called broker I was using. I was a FTB with no savings and a gift for deposit.
I dealt with one person for the application process. Once my application was upgraded to loan offer I dealt with another guy who helped me out with satisfying the standard conditions (this was the most awkward part).
Sometimes you are better off dealing with lenders directly, less delays and you know exactly where you stand. Based on my own experience, I would recommend EBS direct services.
 
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