mortgage application

smacky

Hello

Just a quick question , my broker is going to put in an full application on saturday with Santander , do we know the results of credit check same day ?

regards

kingstreet

The broker normally knows about thirty seconds after pressing the "submit" button.

Obviously, the normal underwriting checks still have to be done, but the accept/refer/decline decision is displayed immediately.

smacky

Hi King street

so say if its comes as accepted (hopefully) it cud still be declined at later stage ?

I know AIP doest really mean much , but its a bit weird when i had AIP frm HALIFAX it showed up as mortgage quotation. However EAs broker said he has now AIP from santander n they have done preliminary checks n its ok to proceed

but i dont see any search from santander on my report

kind regards

kingstreet

Until you have completed, there's nothing to stop the lender declining an application, or withdrawing an offer at any time.

This is unlikely to happen and the further you go in the process the less likely it becomes.

A Halifax mortgage promise is not a full search, so it is not visible to lenders. It also means little and you can be declined when the full search is done.

No idea why the Abbey search isn't showing up yet. Done on one of the other systems to the CRA you use and the files not yet updated?

smacky

not sure

however am registered with equifax and experian, none of them show any search from santander