We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help With Santander Mortgage Porting
bestothewest
Posts: 1 Newbie
Hi
I’ve had an offer accepted on a repossessed property. The sellers are pushing to get the missives signed. When I contacted Santander I had various issues regarding my current mortgage as I had an unsecure part of my mortgage which I was looking to port as well as borrowing more. To resolve these problems I had now paid off the unsecure part in full.
I have went through the affordability checks with Santander and now have a phone meeting with one of their mortgage consultants which is on Thursday 8th August, Today I have heard that it usually takes about 6 - 8 weeks from the consultation meeting until release of the funds. Is this likely to be the case? As if it takes this length of time to release the funds is likely the sellers will have lost patience and will remarket the property.
Is 6 to 8 weeks a standard length of time to wait for the release of funds? Are there any other lenders that are likely to go through the full process in a week or two?
Thanks in advance
I’ve had an offer accepted on a repossessed property. The sellers are pushing to get the missives signed. When I contacted Santander I had various issues regarding my current mortgage as I had an unsecure part of my mortgage which I was looking to port as well as borrowing more. To resolve these problems I had now paid off the unsecure part in full.
I have went through the affordability checks with Santander and now have a phone meeting with one of their mortgage consultants which is on Thursday 8th August, Today I have heard that it usually takes about 6 - 8 weeks from the consultation meeting until release of the funds. Is this likely to be the case? As if it takes this length of time to release the funds is likely the sellers will have lost patience and will remarket the property.
Is 6 to 8 weeks a standard length of time to wait for the release of funds? Are there any other lenders that are likely to go through the full process in a week or two?
Thanks in advance
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards