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A quick query
missbeckylou77
Posts: 28 Forumite
Could anyone please tell me if the underwriting process is done before the survey fee is taken and instructed?
This is for a port with Santander with no further borrowing.
Thank you.
This is for a port with Santander with no further borrowing.
Thank you.
0
Comments
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Depends on the lender, but Santander underwrite first.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Would you suggest that the underwriting process has been successful then?
Thanks for answering my question.0 -
Absolutely, but I'll say anything for a pint. Although no one here has enough information to guess at this.missbeckylou77 wrote: »Would you suggest that the underwriting process has been successful then?You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0 -
Ooh, a pint! I'm in!!!
I didn't know whether surveys were only done after successful underwriting, that's all.0 -
Well, logically
- Santander do underwriting before survey
- Your survey has been done (???)
- Therefore you have passed on underwriting.
You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0 -
They have taken payment for survey and are arranging a date.
Thank goodness someone logical is around.... :beer:0 -
The problem is if Santander have a failure of logic and survey even though you have not passed underwriting.missbeckylou77 wrote: »They have taken payment for survey and are arranging a date.
Thank goodness someone logical is around.... :beer:
Do you have any reason to fear you have failed?You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0 -
I am an existing customer who took out a mortgage with them just over 5 years ago. I had a terrible 'CR' with three defaults and an arrangement to pay. I got a 15 year fixed rate with them. Recently (now with no arrangement to pay or defaults on my account) I got some inheritance so I wanted to port my mortgage with them. I still have a quite high rate of borrowing so I was worried that their lending criteria may have changed so that I became a customer they didn't want to lend to.
It is effectively a 55% LTV with no added borrowing but still tense times on their new criteria if you catch my drift.0 -
You are already a customer, so being on the electoral role is not an issue. 55% LTV will be very much in your favour. If you are saying that your defaults are 6 years behind you and fallen off, then that should not be a worry. The only major criterion left is how many years income are you borrwing?You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0
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Hi again,
I am on the electoral role. My mortgage term has 23 years left and I am 36.
Fingers crossed!0
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