AIP from ICS - How long to hear back?

Mutt Love

Hi guys,

Quick question - I'm just wondering if anyone has recently been approved for a mortgage through ICS, and how long it took? We have been waiting over 2 weeks now and still haven't heard anything. Our broker has told us that it is currently with the underwriters but it's been that way for a while.

We are missing out on houses we are interested in as EA's are asking us if we have proof of AIP (understandably), so we are anxious to hear back as soon as we can.

I know every application is different and there's not much we can do, just wondering how long it's taking others so we might have a better idea.

Thanks!

WeeCuppaCha

Took about 11 working days for me through a broker

pooch90

WeeCuppaCha wrote: »

Took about 11 working days for me through a broker

Was this recently? We are just getting our application ready for them at the minute. If we get word by the end of the summer I'll be happy!

WeeCuppaCha

Came through on 10 July

Mutt Love

WeeCuppaCha wrote: »

Took about 11 working days for me through a broker

Thanks very much, fingers crossed we hear back soon then. The wait is a killer. Best of luck with the house hunting!

SwimClub

You should get used to waiting if going through a broker and ICS! Wait till you try to actually drawdown the funds.....

WeeCuppaCha

SwimClub wrote: »

You should get used to waiting if going through a broker and ICS! Wait till you try to actually drawdown the funds.....

Sounds ominous! What was your experience with drawdown if you don’t mind me asking?

SozBbz

Is your broker not applying to multiple lenders for you? Or are you specifically targeting ICS for some reason? Rate presumably?

Even if you plan to go with ICS all being well, would be no harm to have a backup offer from another lender, and it might enable you to go shopping quicker.

ICS is actually quite a small company, I know someone who used to work there when they started up and its still run by a relatively small team, so perhaps holidays are impacting their turnaround at this time of year.

pooch90

SozBbz wrote: »

Is your broker not applying to multiple lenders for you? Or are you specifically targeting ICS for some reason? Rate presumably?

Even if you plan to go with ICS all being well, would be no harm to have a backup offer from another lender, and it might enable you to go shopping quicker.

ICS is actually quite a small company, I know someone who used to work there when they started up and its still run by a relatively small team, so perhaps holidays are impacting their turnaround at this time of year.

The reason we are applying solely to ICS is we need the extra two points on the public sector pay scale to get us close to what we need. Other lenders won't come close.

SwimClub

Drawdown took longer than it should and delayed our close. Communication through broker was like Chinese whispers. Impossible to pick up the phone to the relevant person you literally are not allowed to contact them directly and have to go through broker which meant delays on both ends and miscommunication, more delays to clarify requests etc. Seems Broker also deals with some internal customer service type fob off and doesn't have direct access to the person or team internally who get things done. So you are all left hanging, waiting in a queue over any requests and not given any visibility or fixed time for a resolution. I found the whole thing very unprofessional, not just the delays but how they were handled.

C575

Anyone else still waiting on AIP from ICS?

EJC4711

I applied directly to ICS and was told by email 12 days ago that the mortgage was approved. Still no sign of the letter.

C575

EJC4711 wrote: »

I applied directly to ICS and was told by email 12 days ago that the mortgage was approved. Still no sign of the letter.

Literally for through AIP about half an hour after posting. Waited 20 working days, went through a Broker.

I'd reach out to them, we got our letter through email so surely it would be the same for you.

GalwayyGirl

We got ours last week after waiting over 5 weeks. I found them the slowest lender to deal with. They typically took 3-5 days to respond to emails and never returned phone calls.

EJC4711

C575 wrote: »

Literally for through AIP about half an hour after posting. Waited 20 working days, went through a Broker.

I'd reach out to them, we got our letter through email so surely it would be the same for you.

Did you have your valuation completed? I only instructed valuation after I was told we had approval. Maybe this is the delay in the issuing of the letter of offer?

Beeabell

Hi guys

Applied to ICS last week using a broker. Can i ask am i certainty to be approved or is it possible broker would submit an application either way.

EJC4711

We got our letter of offer today from ICS. We got an email in mid August to say that the mortgage was approved. It looks like the delay in getting the letter of offer was the completion of the valuation.

pooch90

pooch90 wrote: »

Was this recently? We are just getting our application ready for them at the minute. If we get word by the end of the summer I'll be happy!

Edit- If we get word by end of September I'll be happy