A quick query

missbeckylou77

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.

Wh05apk

Depends on the lender, but Santander underwrite first.

missbeckylou77

Would you suggest that the underwriting process has been successful then?

Thanks for answering my question.

ValHaller

missbeckylou77 wrote: »

Would you suggest that the underwriting process has been successful then?

Absolutely, but I'll say anything for a pint. Although no one here has enough information to guess at this.

missbeckylou77

Ooh, a pint! I'm in!!!

I didn't know whether surveys were only done after successful underwriting, that's all.

ValHaller

Well, logically

• Santander do underwriting before survey
• Your survey has been done (???)
• Therefore you have passed on underwriting.

missbeckylou77

They have taken payment for survey and are arranging a date.

Thank goodness someone logical is around.... :beer:

ValHaller

missbeckylou77 wrote: »

They have taken payment for survey and are arranging a date.

Thank goodness someone logical is around.... :beer:

The problem is if Santander have a failure of logic and survey even though you have not passed underwriting.

Do you have any reason to fear you have failed?

missbeckylou77

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.

ValHaller

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?

missbeckylou77

Hi again,
I am on the electoral role. My mortgage term has 23 years left and I am 36.
Fingers crossed!