Santander Mortgage issue its long but please read lol

anthonyoriordan

Hi thrugelmir, I don't take it personally at all! I am no expert just looking for friendly advise. Surely if he is not an underwriter or similar he had no place to make that statement?

Cheers

Thrugelmir

anthonyoriordan wrote: »

We were told early jan that we could get the mortgage, we have a combined income of 50k with 1 credit commitment each the mortgage was going to be for 139k with a 10% deposit which was ok'd in Janurary.

On this particular point. All could change in the space of 24 hours. Until you've received a formal written offer . Then there's no guarantees.

anthonyoriordan

That I have to look into as when we were in branch originally we went through the affordability etc on the computer with the mortgage person. She then told us the next step was to find somewhere pop back in and finish it off. However she didn't give us a print out nor did we get a letter. I wonder why?? The story takes yet another twist....

Thrugelmir

The branch would not issue you an offer. An affordability check would have been conducted. This is not extensive. Only when an application is submitted are you fully credit scored. Not by an external agency, but the bank itself.

The bank will access data from various sources, run it through a set of algorithms (computer programme in laymans terms) . This will "score you " against the product you have applied for, and pass or fail you.

Simon_gloster

anthonyoriordan wrote: »

I will be tomorrow when I am fresh faced :-)

We were told early jan that we could get the mortgage, we have a combined income of 50k with 1 credit commitment each the mortgage was going to be for 139k with a 10% deposit which was ok'd in Janurary.

Thanks for your reply eschaton

Anthony,

Soon as I saw Mr Harper I cringed. Not as bad a Richard Graham.....

Abbey have so so so tightened up in the last 2 months. They used to rely heavily on credit scoring, now this is more or less gone.

10% deposit on a seemingly credit score decline whether or not someone said consolidating debt was good, is very difficult to underwrite and overturn.

This stressful situation you are in could go on for a very long time from the sound of it and you wont have got your ultimate goal. Can you not use C&G round your area?

anthonyoriordan

Hi simon,

There is nothing stopping us once we have left Santander I guess, the issue is that we don't think they should charge us 2500 because it is their fault this has happened, having followed their advice. I just want them to fix our credit score, and wave the fee for having to settle early. We are lucky that we have parent that we can move back in with otherwise we would be stuck renting a shoe box lol...

eschaton

anthonyoriordan wrote: »

Hi simon,

There is nothing stopping us once we have left Santander I guess, the issue is that we don't think they should charge us 2500 because it is their fault this has happened, having followed their advice. I just want them to fix our credit score, and wave the fee for having to settle early. We are lucky that we have parent that we can move back in with otherwise we would be stuck renting a shoe box lol...

I wouldn't get your hopes up on them waiving the £2,500 settlement fee. They may not have approved your new mortgage but it isn't them making you move house.

I have no wish to defend Santander as they are muppets, but we need to look at the facts when you are effectively looking for £2,500 compensation.