Track your mortgage application
Our guide to tracking your mortgage application will let you know how to stay informed of the status of your application as it progresses through each stage of the process.
Stay informed throughout the mortgage application process
We know that buying a home is an exciting time and you’ll want to know at each stage of the mortgage application process where your application is up to. Our guide to tracking your mortgage application will let you know how you can track the status of your application, who is involved at each stage and what the next steps are.
I have obtained an Approval in Principle (AIP)
The first step in the mortgage application process, the AIP, essentially means that you have been approved for a mortgage with Yorkshire Building Society and we have informed you of the amount that we would be prepared to lend you for a mortgage. You will receive a confirmation email from us stating our decision which you can then use to prove to estate sellers that you have the necessary finance in place to purchase a property.
- Your AIP is saved and you have 30 days to continue to a full mortgage application.
- You can complete your full application online by logging into your online account and selecting your mortgage application – it will show as ‘AIP’ under ‘Application status’.
- Remember, you also have the option to receive advice on an application in branch or over the phone. You won’t need to enter any details from your AIP again should you decide to do this.
Most of the action at this point comes from you the customer, although we will confirm the AIP decision by email. You can either proceed directly onto your full application – in branch, over the phone or by continuing online - or you can save your AIP and come back to complete a full application later.
My Approval in Principle has been referred (AIP)
This means we need to gather further information from you before we can provide you with a lending decision. We recommend that you wait until our underwriters contact you, before proceeding with your application. It’s important that you provide full contact details in your Approval in Principle so we can get in touch with you.
- Should we need further information one of our underwriting team will contact you within 8 working hours, usually by email.
- Once we have obtained this, we will contact you again within 24 hours to confirm whether or not we will be able to provide you with a mortgage and if so, how much we would be able to lend to you.
Our underwriting team are in charge of ensuring that they gather all necessary information from you in support of your application. They make the final decision on your Approval in Principle application.
I have completed a full mortgage application
When your full mortgage application is complete we will begin to process your application. This takes 10-15 days, although it can vary depending on whether or not we need to see any further information or perform any additional checks.
- If you haven’t already done so, you should pay any applicable fees and look into having a survey completed on the new property.
- We will instruct a mortgage valuation on the new property (or your existing property if you are remortgaging).
- Once the valuation has been completed (and survey if applicable) and any fees paid, you will receive a mortgage offer from us.
You mortgage application will be allocated to one of our case managers – this takes around 24-48 hours after you submit your application. You’ll hear from your case manager should any further documentation or information be required from you.
I have received my mortgage offer
The offer details the terms of your mortgage and the breakdown of the costs included in your loan, so you should read all the details carefully before accepting the offer. You can refer back to YBS if you need to ask any questions about the offer – or you can contact your legal advisor who will also receive a copy of the letter. Your mortgage offer is valid for 90 days.
- If you are happy to accept the offer, you need to sign and return it to us.
- You should be prepared to pay the deposit for the property purchase to your solicitor as part of the exchange of contracts with the vendor.
- You will also need to ensure buildings insurance for the property is in place.
At this stage you will probably find that you receive most communications about your mortgage from your solicitor or legal advisor, rather than us as your mortgage provider. However we may contact you if there is anything further we need to know or any outstanding actions you need to take.