Turnaround time Pepper Mortgage

Taxuser1

Got loan approved by Pepper but subject to valuation. Does anyone have an idea of the turnaround time between the offer to the valuation and then to their formal loan pack into the solicitors for inspection and ultimately contract signing?

pinkles

Taxuser1 wrote: »

Got loan approved by Pepper but subject to valuation. Does anyone have an idea of the turnaround time between the offer to the valuation and then to their formal loan pack into the solicitors for inspection and ultimately contract signing?

Would like to know how you got on with them?
Would greatly appreciate . PM me if possible.

Taxuser1

pinkles wrote: »

Would like to know how you got on with them?
Would greatly appreciate . PM me if possible.

I thought they were great. Applied for and turned around within 5 weeks in run up to Xmas. Draw down was without issue.

technodj

Was it 5 weeks from your initial phone call ?
Thanks

Taxuser1

technodj wrote: »

Was it 5 weeks from your initial phone call ?
Thanks

went through AIB first. Used broker in 2nd week of December, agreed by 22nd December, drawn down 3rd week January.

technodj

That was quick
Im going direct
- initial ph call
- approved over the phone
- filled out application
- got AIP letter
- paid €7000 deposit on sale property
- submitted more docs
- Application went to packaging

Now with underwriters
The stress would kill you

Taxuser1

technodj wrote: »

That was quick
Im going direct
- initial ph call
- approved over the phone
- filled out application
- got AIP letter
- paid €7000 deposit on sale property
- submitted more docs
- Application went to packaging

Now with underwriters
The stress would kill you

keep the pressure on them daily. worked for us.

winksblinks

technodj wrote: »

That was quick
Im going direct
- initial ph call
- approved over the phone
- filled out application
- got AIP letter
- paid €7000 deposit on sale property
- submitted more docs
- Application went to packaging

Now with underwriters
The stress would kill you

I'm trying to drawdown by Friday when Pepper closes or I have to redo the loan offer paperwork with Finance Ireland which will push me into the new year for purchase with the house ready next week. They came back yesterday looking for another valuation as its a new build.

Once I get this down I'm never moving or buying again!

technodj

I was told once your application is already in you dont need to fill it out again just confirm your ok with Finance ireland going forward

winksblinks

technodj wrote: »

I was told once your application is already in you dont need to fill it out again just confirm your ok with Finance ireland going forward

I have my loan offer and I was due to draw down end of next week. I have to re-sign all the loan offer docs on Finance Ireland headed if I can’t drawdown by the 7th and all the legals have to be submitted again to Finance Ireland.

With the Christmas break it looks like that will delay me 4-6 weeks by the time the new loan docs come out in the post etc.

technodj

Id keep ringing them, explain your situation....Stressful.
Anyone ever hear of an application be declined in the underwriter stage ?

ELM327

technodj wrote: »

Id keep ringing them, explain your situation....Stressful.
Anyone ever hear of an application be declined in the underwriter stage ?

Yes
Underwriter is the main decision maker, anyone you speak to before underwriter is just a front office CS agent. The underwriter accepts or declines or requests further information.


The person in the branch or on the phone has no say and is just a conduit for the decision of the underwriter.

technodj

I thought that was the way it worked
Its a hell of alot of trouble they put you through to decline your application