This is providing that the application is successful.
Justine Tomlinson, Mortgage Next Marketing Director, said: “There has been a lot of scare-mongering going on in the market recently. It’s true that any broker who has not submitted an AR application needs to get on with it, but it’s not true to say it’s too late. It is also not true to say that brokers need to submit multiple applications in order to be certain of one positive outcome. If a broker doesn’t achieve the threshold conditions for one network, they will probably be rejected by all networks for the same reason. It’s more important to submit one properly completed application, rather than spraying them around like confetti.”
“As long as we receive a fully completed application with all the necessary supporting documentation, we will process it within a week of receipt, including requesting references, and a credit search. We will then notify the FSA, which may take a further 2 to 3 weeks. As long as an application is submitted by the end of September, we will guarantee that it will be fully processed before the end of October deadline.”
