Santander Mortgage update, timeline and few questions

rizwan567

Hi all....I made an offer on property on 14 Nov 2013. Offer got accepted on 15 Nov 2013. I have a current bank account with Santander which I rarely use. Called direct to Santander and applied for 70% LTV mortgage over the phone on 15 Nov 13. It was 10-15 mins phone call, Initial screening was done on the spot, I gave all personal details, income details, property detail and I was told that I am eligible. Soon afterwards, the person I spoke to sent me three emails confirming:

a. Appointment with mortgage advise for 19 Nov 2013
b. I was advised to fill in and send mortgage inquiry form
c. I was advised to send my last three salary slips

I filled in 8 page mortgage inquiry form and uploaded on Santander website through online portfolio they created for me. I also uploaded my last 3 monthly salary slips. I was scheduled for Telephone appointment for today (19 Nov 2013) I received the phone call today but nothing happened, the mortgage adviser said all look fine, credit search has come fine, now I will call you on Saturday the 23rd Nov and that call will be 1-2 hours long.

My question here is:
1. Why I was not asked to provide my bank statements confirming salary credit?
2. What will happen next? I mean when I will be given 'Mortgage offer subject to valuation'? And when survey will be done?
3. In order to save time, can I get my own survey arranged to facilitate lender?
4. After offer being accepted, what is the reasonable time from vendor's point of view to get the survey done?
5. Can anybody else share his experience of dealing with Santander mortgages? I mean what was their timelines and how efficient was Santander.

I will be thankful for your inputs.

ethank

1. You will be asked to provide following your call on Saturday if required.
2. Mortgage offer is given after successful valuation and all other checks are done, not before. They may give you an agreement in principle.
3. No, the lender will want their own valuation. You will be duplicating cost.
4. It depends on the surveyor used. When Nationwide booked my survey it was 3 weeks away. I kicked off and it was sent to someone else, which took 5 days.
5. Not used Santander.

Wh05apk

Abbey don't normally ask for bank statements.


With Abbey the valuations are returned electronically by valuers the same day, and offers are normally issued automatically on receipt.


Abbey are generally quite quick, although as you have gone direct, they do seem very clumsy, with multiple drawn out telephone appointments, any reason why you didn't just see someone locally and get it done face to face? it just seems you almost have the worst of both worlds, you have effectively done the application on line with the 8 pages, you have uploaded your payslips, and yet you still have hours of phone calls to sit through.

rizwan567

Offer made: 14 Nov 13. Offer accepted: 15 Nov 13. Mortgage application made with santander on phone: 15 Nov 13. Salary slips, ID and initial inquiry form filled and uploaded on online Santander portfolio. Full mortgage application made on the phone with mortgage consultant on 23 Nov 13.Proof of deposit requested and uploaded on my online santander portfolio. KFI received in post on 27 Nov 13

On 27 Nov 13, I was told that my application is with the validation team and once validated they will pass it to underwriters. I should expect a reply from underwriters by the end of Friday 29 Nov 13. I did not receive any reply.
Today morning I called them and they told me that my application has been passed to head office for the decision! And I should expect reply from them by the end of this week!!!!

I am feeling sick, angry, disappointed etc etc.... They never told it before that this is a part of process and all of a sudden they told me this today. My question here is; is it a normal thing that case is refereed to headoffice during/after underwriters are working on it? OR my case is exceptional? My estate agent is calling my every second day to get the valuation date and I am stuck.

Kindly and please shed some light on the issue to relieve my nerves. Many thanks.