Abbey/Santander application - Delay

JennGa

Based on other peoples experiences it is pretty clear we are not going to exchange before we go on holiday next week

circuit

Our mortgage was approved last week, so we were awaiting the valuation this week.

When I chased, I was told they were apparently waiting for our SA302s (we're self employed) before booking the valuation - argh.

Does anyone know if they application has to go back to the underwriters after SA302s are submitted?

We have a completion deadline (April 1) and are remortgaging at the same time. I am a bit concerned about the timescales now, given that everyone's experiencing delays with Abbey.

kingstreet

circuit wrote: »

Our mortgage was approved last week, so we were awaiting the valuation this week.

When I chased, I was told they were apparently waiting for our SA302s (we're self employed) before booking the valuation - argh.

Does anyone know if they application has to go back to the underwriters after SA302s are submitted?

We have a completion deadline (April 1) and are remortgaging at the same time. I am a bit concerned about the timescales now, given that everyone's experiencing delays with Abbey.

Someone normally checks documents which arrive, whether that's an underwriter or not would be difficult to say.

So, is this about the remortgage, or about the purchase? What are you doing, a let to buy?

circuit

kingstreet wrote: »

Someone normally checks documents which arrive, whether that's an underwriter or not would be difficult to say.

So, is this about the remortgage, or about the purchase? What are you doing, a let to buy?

Remortgaging house 1 let to buy (not with Abbey), buying house 2 (with Abbey).

The other lender has valued house 1 but won't tell us the outcome until Abbey values house 2. The Abbey valuation was held up on these SA302s which I've now sent. I just wondered how much of a setback it will be.

Timeline so far:

25/2 Met with broker
26/2 He uploads documents
27/2 Both mortgages approved, valuation of house 1 instructed
28/2 Proof of deposit provided for house 2
4/2 House 1 valued
6/2 SA302s supplied for house 2

Have HB survey booked for next week and searches in progress so hoping we can meet the deadline.

JennGa

Got our offer by email today, although dated as 2 days ago.

So yay :j took 3weeks and 1 day from application to offer.
Phewee!

Tashybud

Seems Abbey/Santander delays are not just with underwriters - delays now with getting valuations and offer letters with customers.

JennGa

Offer dated 5th received in post to home address today and also solicitor got their copy. Our valuation was only done on the 5th, I think we were lucky.

Hang in there guys

LucyGoose

Valuation is booked for tomorrow

circuit

Still awaiting a valuation date! SA302s were uploaded on the 7th. I notice that the turnaround time is increasing but really hope they get a move on and book the valuation soon.

Bristine

I never knew buying a house was so nerve racking !

25th Feb AIP approved
26th Feb submitted full application
4th March Mortgage approved subject to valuation

Valuation booked for Thursday 13th March .

If anything ive found this experience a good weight loss program.....