Switching to NIB - should it take so long?

M

MelF

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Am currently in the process of switching my super-expensive INBS mortgage to a more favourable NIB tracker. I made the application in January and was approved by the end of that month but it is now April and not a whole lot happening. I keep phoning/emailing asking about the loan offer but they say that this is sent to First American, the solicitors they use for the switch and not to me. Is this usual?
 
I deal with First American regularly and they tend to turn around all documentation within 2 - 3 working days. They're quite efficient in my experience. Chase NIB and ask when the loan offer actually went to First American. Then you can ring [broken link removed] to check on progress from their end.
 
Do a forum search - theres a very long thread on NIB switching/LTV mortgage - which resonates with your query. It does take longer than you would expect - but its well worth it in the end. Have to keep following up with them/pushing process onwards.
 
Yes, but is it usual for the bank to send the loan offer to First American and not the customer? I would like to have a good look through the T&Cs before proceeding, however NIB will only send it to the solicitior.
 
That's unusual. Most other lenders send the loan offer to both the customer and the solicitor simultaneously. First American will arrange an appointment for you to visit a solicitor to sign the loan offer, so I guess you'll have an opportunity to see the loan offer then.

I'd still ask National Irish Bank for a copy in advance though - unless you're a speed reader you're unlikely to get an opportunity to digest it all while sitting in the solicitor's office.
 
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