Abbey/Santander application - Delay

LucyGoose

It took us a full month to get our offer. I hope yours come through a bit faster than that.

Claire_A87

Well I hope it's not that long. I don't think I could stand the stress! We sent our full application in-branch, so all docs submitted, credit check done etc all at once. We're hoping that means it'll take less time, as we've not had to drip through information as you tend to do through brokers.

We'll see!

kingstreet

Claire_A87 wrote: »

Well I hope it's not that long. I don't think I could stand the stress! We sent our full application in-branch, so all docs submitted, credit check done etc all at once. We're hoping that means it'll take less time, as we've not had to drip through information as you tend to do through brokers.

We'll see!

FWIW we obtain everything which might be needed before the application is submitted and our turnaround times are pretty great. Being newbuild specialists, they have to be...

How many cases have we done with Santander in the last twelve months?

One.

These are the app to offer times for our last twenty cases;-

I've just run down our last twenty cases and the application to offer times were as follows, in calendar days;-

Halifax - 7, 9, 7, 4, 7, 7, 15, 8

Nationwide - 5, 5, 17, 7, 7

Leeds - 15

Principality - 12, 10

Woolwich - 21, 21, 9

Coventry - 18.

http://forums.moneysavingexpert.com/showpost.php?p=64907101&postcount=71

Claire_A87

kingstreet wrote: »

FWIW we obtain everything which might be needed before the application is submitted and our turnaround times are pretty great. Being newbuild specialists, they have to be...

It wasn't a slurr on mortgage brokers, just an observation from other posts when people state they have sent applications in, then sent docs in etc. Although it was a mammoth interview, we did everything there and then so the application has now gone straight to the underwriters queue. It's more of a crossing my fingers thing in regards to it coming back quickly, rather than expecting it. I can't see the mortgage advisor's prediction of Friday coming to fruition based on other people's recent experiences.

kingstreet

There are good and bad brokers, just as there are good and bad lenders, solicitors etc.

It's all in the preparation, as far as we're concerned.

rizla83

our application was in on 14/02. Still waiting. We have been asked for every doncument under the sun.

They where also asking for documents in stages for example:

first asked for additional bank statements.
Then 4 days later asked for another bank statement because they could not read it.
then 3 days later asked what certain items where on the statements (direct debits etc)
Then 4 days later asked for copy of work contracts, proof of past and future employment. Proof of electoral roll

if they had just asked for ALL of this the first time we would have probably had a valuation done by now.

Vendor is making threats to put property back on the market now which is just grand!

Its been a slow process to say the least, i think we may have got the pickiest underwriter in the world. Probably jumping the gun and using our case as a practice for whats coming in April.

They have had ample time to reject our application so now that we have provided everything they have asked for we should have a valuation date in the next few days.

Claire_A87

Eugh. Sorry to hear that rizla83 - sounds like a right ordeal for you. Fingers crossed for the valuation.

I think as much of a hassle as it'll be for buyers who apply after MMR comes in, it seems that those applying now are having a tough time because underwriters are using current applications to get prepared for it, combined with a big delay from the mass of applications they've had from people avoiding MMR!

I'm still glad our app is in now - the lady in Santander says if for any reason the mortgage isn't approved by 26/04 then we'll have to go through the whole interview and get credit checked again

Kch

kingstreet wrote: »

There are good and bad brokers, just as there are good and bad lenders, solicitors etc.

It's all in the preparation, as far as we're concerned.

I completely agree with you. My broker was amazing and took all documents from us she would need at aip stage. No queries from bank and the mortgage was agreed subject to valuation the day after going to underwriter!

Claire_A87

Well Santander are apparently looking at applications sent to underwriters on 17th, and our went on the 18th so I'm crossing my fingers. I do think a good broker would have eleviated some of the stress in hindsight, but we live & learn!

JennGa

We were on track to exchange today......until we get a revised mortgage offer by email from santander as they neglected to include the fact we had some gifted deposit in the conditions. Grrrrr!!