Abbey/Santander application - Delay

sdl1503

sdl1503 wrote: »

We were told a week ago today it was approved, still nothing in the post to either us or our solicitors.
Gutted for you with your 'gazumption'.

Our offer was here when I got home yay

JennGa

sdl1503 wrote: »

Has your solicitor done the searches already without the formal mortgage offer?

Buying a new build and the solicitor has been involved with a few more purchases on the same site. She sent us a drop box link which included local searches so I'm assuming yes?

Thrugelmir

Tashybud wrote: »

I spoke to MB this morning-she chased Santander/Abbey who yet again said it was the sheer amount of cases Underwriters have at the moment and they slowly working through backlog. Having spoken to many different people including Estate Agents, all Banks and Building Societies in same situation so any vendor or buyer tempted to either put housecon market or go with another Mortgage provider to try and speed up things would be mad. We all have to sit tight and remember to breathe......

All lenders will be in the process of changing systems and related training to cope with the new regime that comes into regulatory effect next month. Mortgage processing will be slower and more thorough.

rizla83

was told ours was with the underwriter last week. Then after 4 days they asked for a new bank statement as it had rolled over into a new month. I personally think this is a delay tactic used to help with the backlog.

We have been told that because they have taken so long and now need a new statement this will now be put BACK into the underwriters que and have to go through it again!!

what a joke.

alwaystryyourbest

I heard there has been a big delay with mortgages this week, because most mortgage brokers are at a meeting for a whole week.

Tashybud

good news - went to Underwriter yesterday afternoon (after 3 week delay) and mortgage was approved this morning!
Awaiting valuation now.....so relieved.

JennGa

Mortgage broker was out of office today and won't be back until tomorrow afternoon. Need offer by Monday if going to exchange on time, gah!
Does santander send offer straight to solicitor?

sdl1503

JennGa wrote: »

Mortgage broker was out of office today and won't be back until tomorrow afternoon. Need offer by Monday if going to exchange on time, gah!
Does santander send offer straight to solicitor?

Yes, but they can also fax it to your solicitor.

JennGa

sdl1503 wrote: »

Yes, but they can also fax it to your solicitor.

Thankyou

sdl1503

JennGa wrote: »

Thankyou

We got ours faxed to the solicitor yesterday. I don't know who's going to kill me first over this house move, my husband or my mortgage advisor