Santander Application

Jonathan1985

Hello should I be worried:

The people who are buying our houseI have submitted mortgage application with Santander and they keep asking for more info. E.g. Thier online payslip was not acceptable (something to do with Http address), and because one of them is a nanny they are questioning the length of her contract now, also questioning items on bank statement e.g a loan which is due to end next month….

How long can Santander take to make a descion, it has been 2 weeks now?

betmunch

They are just getting started!

For me Abbey (the intermediary version of Santander) is a lender of last resort at the moment

Jonathan1985

are they rejecting a lot of applications at the moment ?

Jonathan1985

Stressed. i did not know Santander would go as far as asking for evidence of employment contract ?

GMS

At the minute they are a nightmare. In general though if they are not happy with any of the income verification they, along with all lenders will request as much as they think necessary.

The requesting of a contract could be due to the job only starting recently, or to check terms of renewal etc.

Proof of income is probably the easy part. Lord knows what they are asking for recently.

Dave_Ham

Santander/Abbey were 2nd placed in my naughty lender list, but have recently given them a few cases and a 2nd chance.

To be honest, my cases have (until now) gone through quite sensibly although historically when they start asking for the random documents just means they are looking for a reason to decline, so would suggest your buyer has a look across the market as these cases tend not to end well..

Usually this forum and others are great, but sometimes having your head in the sand would be better eh!

Fingers crossed for you...

Ivana_Tinkle

Excuse the thread hijack but, Dave, we're applying for a mortgage with Santander at the moment. We got through the income checks v quickly (only borrowing 1.3x joint income, about 11% LTV) but everything's stalled since the valuation. The house has a small amount of pasture land, which seems to mean that we're being referred on from one set of underwriters to another. We keep being promised an answer within 48 hours, then another 48 hours, then told to ring on a different number, then it's another 5 days etc etc... What do you think our chances are? (And then, second question, how long is this piece of string?!)

Thrugelmir

Jonathan1985 wrote: »

How long can Santander take to make a descion, it has been 2 weeks now?

Depends on how quickly the responses are made.

Once submitted will join the back of the queue.

Days of allocated case handlers are gone. Processing in the main is now done on an industrial scale. Often in my mind inefficiently.

Dave_Ham

Ivana_Tinkle wrote: »

Excuse the thread hijack but, Dave, we're applying for a mortgage with Santander at the moment. We got through the income checks v quickly (only borrowing 1.3x joint income, about 11% LTV) but everything's stalled since the valuation. The house has a small amount of pasture land, which seems to mean that we're being referred on from one set of underwriters to another. We keep being promised an answer within 48 hours, then another 48 hours, then told to ring on a different number, then it's another 5 days etc etc... What do you think our chances are? (And then, second question, how long is this piece of string?!)

They are struggling with anything unusual at the moment. I am assuming that the surveyor has pointed this out and now they are deciding if this is in criteria or not.

I would like to say that you will be ok due to the lending limits and LTV, although this is not protection from the bean counters at Santander.

If it was through a broker, apply pressure on them as we have channels we can go down. If it was direct in branch/telephone get down to the local branch and put it on the Branch or Area Manager (whoever is there)

You may need to be insistant..

Good luck

Jonathan1985

My mortgage advisor is now saying they have asked for previous employment history of the nanny, also how long the work is going to last?

How can this be evidenced….

Dave_Ham

I'm not sure I would be happy if I was your buyer and somehow your Mortgage Advisor is feeding you updates about my situation. This is not your issue but do not feel comfortable with the advisor, given he could be telling your seller information about you - assuming you are selling and this is an Estate Agent adviser...?

Nanny income is not going to be shown a lot of love by Santander and I now fear the worst. Second guessing they are looking at other contracts and looking at her as an agency worker and looking for unbroken employment. If she has had more than a week break this will be an issue for them...

I think their broker needs to be talking more to Santander and less to you...

Good luck though...