In the last few weeks, we have experienced a much higher volume of new mortgage applications than expected.
In the short-term, this means the service times that we are able to deliver to you and your clients with new mortgage applications are longer than we would like, but we are making every effort to minimise delays and keep you informed.
We are currently taking up to 21 working days to initially underwrite new mortgage applications. However, within this timescale we will do the following:
- Acknowledge receipt of your application and confirm next steps
- Perform a credit search and basic lending-criteria check, and let you know the outcome of that check
- Allocate your case to a case-handler to liaise with you to prepare the application for underwriting
- Update you on the outcome of the initial underwriting assessment of the application
Upon allocation to a case-handler, fully packaged mortgage applications in March and April took an average of 23 working days to offer, but we anticipate the heightened volumes could also extend this timescale. Whilst it is difficult to judge the full extent of any delays at this time, we will keep all submitting brokers informed throughout processing and underwriting.
We are sorry for any delays you experience. Your business is very valuable to us and we thank you for your patience at this very busy time.
The H&R for Intermediaries Team
Average time to initially assess fully packaged application:
H&R for Intermediaries is the intermediary arm of Hinckley & Rugby Building Society, a top 20 Society based in the East Midlands lending throughout England and Wales. We are a manual underwriter and specialise in dealing with complex cases.
Our Mortgage Referrals Committee meets daily to personally consider the more challenging new business enquiries the Business Development team believes could be approved once the specific circumstances have been investigated and explained. We are very proud of the feedback we get from intermediaries.
To refer your case to us please use our Request a callback link . We are open Monday to Friday from 9am to 5.30pm.