Abbey/Santander application - Delay

Tashybud

Is anyone else experiencing a delay to a decision on their mortgage application with Abbey/Santander?

We have an AIP in place and Mortgage Broker submitted the application over the weekend and said we'd get a response within 48 hours. As of today, no response.
I asked the Broker who said she hadn't heard anything. I am getting very nervous we will be turned down.
We are First Time Buyers but this is not the 1st house we have bought (we sold back in 2010 and have been renting).
We have no debt (all paid off in 2013) and are putting down 13.5% deposit. Husband is self employed but I am the main breadwinner.

PheoUK

Submitted ours on the fourth still waiting for official a approval. Check the longer running thread, there are lots of us!

JennGa

A response within 48 hours?! Join the at least 2 weeks waiting club

Tashybud

thanks - what is the name of the thread everyone else is replying to? Can't find it.

JennGa

https://forums.moneysavingexpert.com/discussion/4711931

sdl1503

Yep I'm another one waiting, the place is a joke. I've now got plan b in place, so if I don't hear back by Monday I'm going with someone else.

Tashybud

Thanks for link - found it and reviewed. REALLY feel for all of you!
I just spoke to Mortgage Broker (used to work with Abbey). Abbey/Santander have had an unprecedented demand in last 8 weeks due to Help to Buy scheme so have a huge backlog. Apart from the main worry that we just cannot relax until we know we have been approved, their mortgage deals could change in the meantime.

sdl1503

The problem is they won't send out a surveyor until the mortgage is approved. So you are left wondering for weeks when it's going through and your seller is probably thinking the same. Patience has never been one of my qualities!

PheoUK

Santander have at least sent my surveyor out and the valuation is back (they were quick but I think that's because my MA in the bank is ace & she chased it down and got it booked, then when the surveyor pushed it back she rang then and pushed it forward again)

So I am hoping that valuation (which came back ok) basically means mortgage approved and it's just sat in someone's in tray waiting to print a letter)

IMO Santander is the best HTB2 offer out there at the moment so I'm not surprised that they have delays

JennGa

Not so helpful for those who aren't HTB though and just want to get going. Swings and roundabouts!

sdl1503

Could we all be any more stressed waiting on Abbey lol?