How long to wait for mortgage approval?

BillieB

I have applied for a mortgage and am waiting almost 3weeks now :O I am getting really annoyed at this stage - was told there is a back log How long did everyone else have to wait??!!!

broker2008

Depends on the institution, the loan to value, all the paperwork being in etc. Lenders market and all of that. Give them a call looking for update or perhaps you can check online or your broker will chase for yu or branch if dealing direct.

BillieB

Thanks Gave all the required documents in at start of application. Am sick ringing broker all they keep saying is bank said there is a backlog and we will just have to wait :mad:

MortgageBroker

In short you are being dicked around if you haven't gotten a preliminary answer - assumption being that you have given in most of the necessary docs to get a preliminary answer with.

broker2008

Did you get sorted ?

BillieB

Yes I did thanks so its all systems go

Loraco

Hey all,
hope it is ok to jump into this mortgage approval thread....
I am hoping to apply for a mortgage very soon but have been just today been offered a new (better paying) job and am now very worried that I won't stand a chance at getting one until next year having to wait at least six months into a new position...which will mean that by then the tax relief for first time buyers will be gone forever what to do? has anyone changed jobs while in the process of applying for a mortgage? Any advice would be great

BillieB

You dont have to be in a job 6 months its 3 months. Just once its permanent and you are not on probabtion. Also once its not in a high risk industry like construction. I got a mortgage with AIB and my partner is in job only 5 mths when we applied.