The Sunday Times - Buyers face delays when applying for a mortgage
Borrowers are having to wait weeks just to book in an appointment to meet a mortgage adviser with many of the high-street banks and building societies.
A survey by The Sunday Times shows that the average waiting times vary considerably among lenders. For example, Nationwide has a typical wait of six days to see a mortgage adviser in a branch and 11 days for a consultation over the phone.
Other lenders with delays include HSBC and Clydesdale Bank where applicants are potentially waiting a week or two for an appointment.
Aaron Strutt, product manager at Trinity Financial, says: “If you are looking to secure a mortgage you can speak to one of our expert advisers. Providing you have the required documentation we can submit your application almost immediately.”
During the first three-months of 2014, the Council of Mortgage Lenders says 100,000 applications were made directly to lenders compared with 125,000 through brokers.
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