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mortgage application

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  • 18-03-2011 10:56am
    #1
    fran17
    Registered Users Posts: 1,264 ✭✭✭


    hi,made a mortgage application with ulster bank three weeks ago and no decision yet.bank manager says everything is lookin positive but waiting on the underwriters decision.any ideas on how long is the normal waiting period for response???


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    #2
    snugglebear
    Registered Users Posts: 86 ✭✭snugglebear


    Hi,
    Myself and my OH applied for our Mtg through a broker last year and it took about the same amount of time I think, although there were some delays beofre we got our loan offer because they needed to verify our savings and source of the balance of funds.
    My OH also had some inheritance money and they wanted proof of that even though the money wasn't being used in the house purchase.
    I know a copule of years ago you could get approval in 24 hours but things are much tighter now and the banks are very reluctant to give out loans.
    Best of luck anyway, speaking from experience it's a stressful time :)


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    #3
    fran17
    Registered Users Posts: 1,264 ✭✭✭fran17


    hi, got a call from the bank today to inform me my application was sucessfull woo hoo:D there sending out one of there buddies to value it which will cost me an extra 130 but looks like full steam ahead.1200 for solicitor fee but dont get me started on them!thanks for your help


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    #4
    snugglebear
    Registered Users Posts: 86 ✭✭snugglebear


    no worries, best of luck with everything, just prepare yourself for a stressful time but it's worth it in the end, €1200 seems ok for a solicitor we paid around €1100 for ours after a bit of bargaining and €130 is the standard valuation fee :rolleyes:


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    #5
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    fran17 wrote: »
    hi, got a call from the bank today to inform me my application was sucessfull woo hoo:D there sending out one of there buddies to value it which will cost me an extra 130 but looks like full steam ahead.1200 for solicitor fee but dont get me started on them!thanks for your help

    If you upgraded to a U-1st account for the interest rate reduction on your mortgage you would be able to claim back the valuation fee. Well you used to be able to but I can not find it online.


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