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    • bleo89
    • By bleo89 27th Dec 17, 4:45 PM
    • 1Posts
    • 1Thanks
    What are my chances? Santander appeal
    • #1
    • 27th Dec 17, 4:45 PM
    What are my chances? Santander appeal 27th Dec 17 at 4:45 PM
    Hi all

    Recently applied for a Santander mortgage. 69% LTV, DIP accepted and sent to full application.

    Went to underwriters but it has been declined due to affordability.

    I believe this is because my credit report still shows that I owe debt (loan, credit card etc) despite me paying it all off, completely clear, a few days before the mortgage application.

    The Experian file won't update until early January.

    Mortgage broker asked me to send him statements showing my clear balances and he'll appeal with Santander.

    What are my chances, do you reckon? Anyone had appeal success? And how long does it usually take?

    Cheers in advance.
Page 1
    • amnblog
    • By amnblog 27th Dec 17, 6:19 PM
    • 10,275 Posts
    • 4,047 Thanks
    • #2
    • 27th Dec 17, 6:19 PM
    • #2
    • 27th Dec 17, 6:19 PM
    Follow your brokers advice. Santander are an unpredictable Lender but you may get a result here.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • Thrugelmir
    • By Thrugelmir 27th Dec 17, 8:44 PM
    • 57,408 Posts
    • 50,705 Thanks
    • #3
    • 27th Dec 17, 8:44 PM
    • #3
    • 27th Dec 17, 8:44 PM
    Asked rhetorically. How did you manage to clear all of your debts just before submitting a mortgage application? Certainly something an underwriter may well question in their minds.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • Clacecel
    • By Clacecel 8th Feb 18, 11:03 AM
    • 1 Posts
    • 0 Thanks
    • #4
    • 8th Feb 18, 11:03 AM
    • #4
    • 8th Feb 18, 11:03 AM
    This wasn't to do with a mortgage, but a loan application to Santander. My husband applied for a 15K loan from Santander. We own our home outright, value approx 220K, My husband has a loan already with Santander with approx 9K outstanding. Neither of us has EVER been late with a payment, or missed a payment on anything. My husband has a gross annual income in excess of 60K per year and I have a small pension, and he has two credit cards with zero balances (if used, the balance is always cleared the same month). We have no other debts. We each have some savings with Santander. The loan application was declined !!! Go figure !! The explanation was that "it didn't currently meet the loan criteria" !!! The point I am trying to make is that there is no rhyme or reason to santanders decisions on anything... Good luck with your appeal. Frankly, we are currently moving our accounts away from Santander. If my husband did not meet their criteria, then who on this earth does ????
    Last edited by Clacecel; 08-02-2018 at 11:04 AM. Reason: Spelling error
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