Abbey Mortgages

VortexSteve

Today's news here is that the mortgage valuation has been booked for next Wednesday, a bit longer than I had hoped to wait, but at least it is booked in now. Adviser says we should hear back on that by Friday.

JA1000

VortexSteve wrote: »

Today's news here is that the mortgage valuation has been booked for next Wednesday, a bit longer than I had hoped to wait, but at least it is booked in now. Adviser says we should hear back on that by Friday.

Good luck with Esurv - but as you are a purchaser you will be in a position to offer there lower valuation, they'll have it done in 5 mins!!!

mattED_2

Good Luck!
My advisor is chasing them today, i noticed they asked you for proof of deposit, they didnt ask me for this with the queries they had last week, i will be seriously p'eed off if today they ask for this when i could of qieut easily shown them this last week if they asked!

Is it common for them to ask even with just a 10% deposit?

happybroker

it tends to be larger deposits but don't rule it out, it may be worth getting the paperwork together just incase

mattED_2

there still sorting through paper work, so guess all we can do is wait!

JA1000

And wait and wait and wait and wait and wait and wait and wait and wait and wait and wait and wait and wait and wait and wait and wait and wait and wait

Oh how to live and cope with the speed of the digital age!!!!

BigBumpaGirl

Hi all,

I thought I would share my experience of my process with Santander. I had an initial appointment in my local branch on 22nd March. I took along all relevant documents (passport, pay slips, bank statements) and was approved on the spot.

I had my second appointment on the 29th March and submitted a formal mortgage application for a house that I made on offer on at the weekend. Again an instant approved decision came straight back (subject to valuation). My valuation took place on the 6th April and I received my offer in this mornings post!

I was extremely impressed with the mortgage advisor I dealt with and the ease of the entire process.

Good luck to all of you still waiting.

Gambit

Hey all, I thought I would join in as I too have applied for a Mortgage with Abbey/Santander. I had an initial appointment on Tuesday and despite being sure I would not go with them, the mortgage advisor convinced me that Santander are much better now and that the process would be pain free. Well I bought it and decided to go with them so on Wednesday 7th April went through the whole mortgage application with payslips, bank statements...etc... We were told that our initial credit check was fine but the advisor had problems entering in our address details as the system did not like flat numbers so we left it with her and were assured there should be no problems. Unfortunately I got a call later that day saying that Santander would only lend us up to 85% and not the 88% we asked for. We couldnt understand why this was as our credit should be fine as we have no loans and only one credit card with an oustanding balance of less than £1k. We asked for a reason but couldnt be given one more than we were seen as too much of a risk.

Worried we might have the same problem with other lenders as have heard that lenders are a bit wary of lending for obvious reasons. So we decided that we would not risk applying to another lender as the vendors in this chain want things to move along quickly so after begging and borrowing from family we made up the extra 3% and had to re-apply on Thursday. It got stuck in the queue again as apparently it had to be re-assessed so we had another sleepless night. On Friday morning we heard back from them and were told the mortgage offer was approved subject to valuation which will hopefully take place next week.

So overall it seems that the underwriters at Santander came back with a response very quickly but unfortunately not with the answer we expected the first time. But from applying on Wednesday to be being approved by yesterday I guess that was pretty quick. Wasnt asked for any proof of deposit though so strange to hear some people are.

Good luck to everyone else still waiting and will update you all when we get the valutaion done.

minirolo2004

Hello all,

I thought I'd share my experience with Santander too. I organised my mortgage through a broker and Abbey had the best rates, but she did warn me that they were notoriously slow. However, she kept on at them on a daily basis and we had any affordabilty issues dealt with very quickly. Once I had sent all the paperwork they decided they needed, the valuation was completed the following week and the mortgage offer followed a couple of days after. So, fortunately, I was in the 7-10 days bracket.

Just to add a little extra info - I had zero credit rating..as in non existant..I have moved a billion times in the last 5 years and I had a 10% deposit. All sorted swiftly I thought.

Gambit

UPDATE: Got a call this afternoon (Monday) saying that the valuation has been booked in for Wednesday afternoon so it all seems to be getting sorted quickly which is good. My estate agent said that hopefully we should get a mortgage offer within 5 days of the valuation so fingers crossed!!

How's everyone else getting on??