Santander mortgage, where can i turn to now??

samsip

Hi all,

I need some advise and really am at my wit's end with the lack of responsiveness from the Santander Underwriters.

After many many weeks, 2 weeks ago the Underwriters said that they would lend us "x" amount, which is only 3k less than what we wanted. So naturally i said yes!!! But that was 2 weeks ago and it still hasnt been signed off, and i have no idea why. Since then i have also received a payrise which more than covers the affordability figure. I sent them the letter proving this new pay, which became effective 1st Aug.

Note that i have a zero balance mortgage with Santander already, which i paid off 17 years early, so they can see with their own eyes what i can afford based on what i was paying. My current account and ISA's are with them too...and my wife's aswell.

So anyway, what can i do? What can my next move be? They have all the facts, the mortgage advisor's manager keeps pushing the underwriters, but nothing. Why cant they just sign it off, or call me if they have any questions? They have obviously seen my case because they made me an offer!

They are playing with people's lives and causing stress and sleepless nights. They wouldnt like it if they got treated the same way, so why are they treating customers like this?

Any help or suggestions please??? There must be a way to get someone to sign it off so we can all move on with our lives.

thank you in advance

Sam

Jimbo1976

Samsip

Whilst in real life the fact that you had a mortgage with them and paid it all off would indicate that you were a pretty good bet for a new mortgage. But in the new mortgage world that means nothing. Lenders use systems to make all of the decisions and sadly its a bit like the Little Britain sketch where "The computer says no".

You would think that if you were only £3k short before and now you've had a payrise that they would say yes.

I realise that buying house is very stressful but lenders can pick and choose who they lend to. Your mortgage advisor's manager can beg and plead but if Santander don't want to lend, they won't.

Is the extra £3k worth the stress and sleepless nights? Can you proceed on the basis of the original offer?

samsip

Hi Jimbo,

thanks for the reply. It is the original offer that i have accepted (3K) less, i havent asked for the extra 3k with the payrise as i realise that will probably add more time.

so the situation now is that they made an offer, i accepted, but two weeks have passed and still no reply, despite constant emails from the mortgage team asking for an update.

feels like i have hit a brick wall and there is nothing i can do and just wait for them to pull their finger out.

Sam

harvey115

I believe the OP is asking for an offer from the underwriter not the extra £3K.

OP - I think you should constantly phone them up as two weeks is a long time for an underwriter to make their mind up. Meanwhile I would say you should speak to a broker is time is important and see if you can get something better then what Santander is taking all the time to provide. In case Santander turns back and says no, at least you would have an idea to where to turn.

Best of luck.

harvey115

I think you should call them rather then emailing, it could be that the recipient of the emails is on holidays. Its that time of year you see.

samsip

unfortunately the santander offer is the best and too good to just push aside i have spoken to the mortgage team, but the underwriters apparently dont speak to customers, especially over the phone

if i get another mortgage, will santander then just say "he's got another one so we can take back our offer?"

harvey115

you can have more then one offer at a time and its your decision whichever one you chose to go with. However your credit report may show that the previous ender has credit searched you records. However nothing further is revealed and should not impact that much.

I would say get in touch with a broker and see what is available for you in the market other then Santander. Put down a deadline for Santander to get back and if nothing happens go for the option B.

Best of luck.

Wh05apk

Formal complaint would be your best option, this will identify where the problem has been, and hopefully get things moving.

Thrugelmir

samsip wrote: »

thanks for the reply. It is the original offer that i have accepted (3K) less,

So you received a formal offer letter, that you've signed and returned ?