need advise regarding my santander mort app

smacky

Hey guys

have had some great advise from forum members since last 2 weeks so a big thanks. there is just 1 small thing which is worrying me

as per my previous query 3 weeks back i went to halifax branch and they gave me AIP and that showed up on my credit report within 1/2 hr as "mort quatation"

due to a situation which i wouldnt wanna discuss and call it their tactics, i have to now go with EAs inhouse broker service and they advised me to go with santander .

ok now they said i have AIP for the same amount and same %, however the heading says "key facts about this mortgage"

also till date there is no trace of any credit check on my report. and if i m not wrong santander uses experian ?

also last week we were told we need to give them details of building insurance and solicitor only then they wud submit appl

however when we called them today they said its already submitted and they wud just need those details as n when needed

so we have no idea really where this is going

:-(

kingstreet

smacky wrote: »

the heading says "key facts about this mortgage"

Which is the heading of a key facts illustration, not an agreement in principle, in my opinion. This is no indication of your acceptability to the lender.

An AIP will normally be a printed letter, on the lender's stationery, setting out eh amount offered and the documentary requirements for a full application.

ACG

The halifax credit search is a soft footprint - meaning only you can see it.

Key facts is effectively a quote, its not an AIP.

You dont HAVE to go to the in house broker - you can still go to any other broker or do it yourself. If you are using their broker, then why are you not asking them the questions? Their job is to sort out the whole problem for you and tell you what you will need and what will happen next.

kingstreet

Why are you continuing to put your mortgage in the hands of an organisation you clearly feel you cannot trust?

kingstreet

ACG wrote: »

The halifax credit search is a soft footprint - meaning only you can see it

Halifax was the old lender. He's been told he has an AIP with Abbey.

ACG

Thanks for that. Im still a little confused around that though - theres an issue you dont want to discuss with your existing lender for a new mortgage?

If its an issue that could affect the mortgage its possibly going to come with most lenders?.... or am i missing something?

smacky

kingstreet wrote: »

Why are you continuing to put your mortgage in the hands of an organisation you clearly feel you cannot trust?

Hi King street,

the situation as in my opening query is that i lost 2 properties earlier with same EA just bcoz for those i told them i was gonna get my own broker

in a very sweet way i was sent a letter and told that someone made same offer before us and the letter is probably sent to vendor as well but it makes it look like as if i dint qualify when they assessed me for the property.. i hope you guys know what am trying to say here

now i know one would say why not look for other property , problem is they are biggest in UK i guess and most of the properties we like are under them :-( in our area

regards

kingstreet

Such conduct would simply make me more resolved. I'd put notes through the doors of their vendors telling them you would have been interested in their property but have been put off by the agent's insistence that you must have a mortgage arranged by the agent.

Countrywide again?

Limited panel - not whole market
Charge a fee
One insurance tie
Expensive conveyancing
Get survey business from their lender panel.

Best avoided.

smacky

ACG wrote: »

Thanks for that. Im still a little confused around that though - theres an issue you dont want to discuss with your existing lender for a new mortgage?

If its an issue that could affect the mortgage its possibly going to come with most lenders?.... or am i missing something?

no we havent got any issues, santander is giving same % and terms and they said they might be better fr self employed so we said go ahead with santander

ACG

Go and speak to trading standards - it might not help in the short term but it may help.

Ask them why they didnt tell you this when you made your offer and maybe even send a copy to the vendor - not that the vendor will be fussed as they just want a sale.

Edit: I avoid santander like the plague personally, i find them quite picky.

smacky

the funniest thing is , the property that we are arranging now with them is same price :-)

so in 3 days time our eligibility has improved