Santander mortgages

tracylivingstone

Dear All

Please beware. I have just had my formal mortgage offer withdrawn and the bank have refused to tell me why. I had been through the agreement in principle, completed the survey, received the formal mortgage offer and instructed a solicitor, whom had drawn up the contracts. Days before exchange the bank have decided to withdraw my formal mortgage offer, without telling me why and after many requests for this information, I am still none the wiser. I am at a loss as to what I can do about it. I would never bank with Santander again, and anyone thinking of taking out a mortgage with them be very careful and ensure that you do not pay any arrangement fees up front, or you could lose all of your money and valuation fees.:mad:

xfon123

Exactly the same happened to me very recently with Sanatander. Valuation, followed by a formal mortgage offer followed by a withdrawal letter which went to our solicitor. This caused an unbelieveable amount of hassle and at one point it looked like we would lose the house. Especially as a new offer was issued then also withdrawn!

The only way we managed to get around this was by going in to a branch and fortunatley found a branch manager who was willing to help us. It appears that they are the only ones who can override this decision so is definately worth a meeting if you can in your local branch. For us it seemd they had issued our offer without it going to an underwriter. As soon as it did they withdrew it as apparently there was some default credit on our file, which was a new one to us.

Subsequently we obtained our credit reports from Experion and had to prove to them we didn;t. After weeks and weeks of going back and forth we finally managed to get a new offer but only with the hep of teh branch manager who in my eyes was teh only real reason we got there in teh end.

having speant hours on teh phone to the mortgage centre we found they have no clue and were telling us contrasting information.

So if I were you I would get to teh branch asap and get someone with some authority on it. Hope that helps.

DMB1973

They are abysmal and border line criminal, after myself and my wife being assures over a 3 month period by their UK Folkestone Branch mortgage advisor that we could increase the amount on our Mortgage to purchase our dream house and keep the same deal, being a fixed tracker, tracking at 1% above base rate. The Mortgage advisor called us 36 hours before the deposit was due to be paid on the house we were purchasing, all this after being Credit Scored and details sent to their Underwriter and she told us that they had made a MISTAKE, admitting it was THEIR ERROR and informed us that the extra we were borrowing could only now be offered on a new product with a two year tracker rate of 3.09% above the base rate, they admitted upto Regional Manager level it was their error BUT will do nothing to resolve it ! Meaning that it real terms our monthly payments would have to increase by OVER £200 as a starting point, they wouldnt budge despite saying it was their error and will not help us out, only claiming that nothing was signed. Well they assured us it was the terms of our Mortgage several times before then dropping this Bombshell. The result is we have now lost our Dream House and sale on our current property and have left us with nothing more than a shrug of their corporate shoulders and a well S**T happens attitude. They are nothing more than government protected criminals.