Abbey/Santander application - Delay

kingstreet

FWIW we wouldn't have even submitted the case without having all the documentation upfront. On on case I submitted yesterday, we have the applicant's IT contract, his accounts and SA302s so we could pre-empt any lender's requirement.

Apart from one wanting an Accountant's Certificate of course!

Claire_A87

Sorry, I've just posted this in the house buying timeline thread but thought it would be useful here for anyone using Santander:


01/03 - View house
03/03 - Make offer (1st rejected, 2nd accepted)
05/03 - Instruct solicitors
06/03 - Call Santander and receive AIP over the phone with 'soft' credit check
<Lots of waiting for Santander to arrange telephone interview. Eventually get told it will be 21/03 which is stupid, so in-branch interview arranged for 18/03>
18/03 - In branch mortgage interview submitting 3 months wage slips, 3 months bank statements and proof of ID. Full application sent to underwriters.
20/03 - Solicitors receive contract pack from vendor and instruct searches.
21/03 - Underwriters pass application. Offer subject to valuation!
24/03 - Valuation takes place between 9-11am.
25/03 - Chase Santander who confirm valuation came back at the price we offered, and written offer will be sent within 5 days of valuation report. :T

So, if I hadn't of faffed with the over the phone process things would have gone much quicker! From in-branch application to valuation coming back it's been 5 working days - can't complain really!

Won't get too excited until I see the mortgage offer in writing, but there is a large light at the end of this very unpleasant tunnel

Claire_A87

Guess what? Spoke too soon!

Called again today to check the offer was in the post, only to be told a query was on our account regarding whether our application was eligible for HTBMG, and that our branch had to confirm this! We have a 5% deposit and are applying for HTBMG fixed 5yr mortgage - you can't submit an application for this (which was seen by underwriters last Friday & passed for valuation) unless you sign a declaration confirming your eligibility...which we did. So either our mortgage advisor hadn't sent this with our application, or no one knows what the hell they're doing where HTB is concerned.

I've now been advised that the branch confirmation (which has been sent) could take up to 48 hours to be picked up by their admin team. Ridiculous! Totally taken the shine off what was looking like a fairly smooth application process.

Okydoky25

Had full mortgage offer but sale fell through..
17.3 New application submitted with MA
20.3 requested another payslip. Had to wait to get this as they wanted this months!
26.3 supplied payslip.

Assuming now we are at back of que again?? MA says 5 days but would be interested to hear if anyone has has any better turn around. I am still unsure if this is classed as a completely new application even tho we had received a full mortgage offer only a fortnight before?

Shoey1610

Okydoky25 wrote: »

Had full mortgage offer but sale fell through..
17.3 New application submitted with MA
20.3 requested another payslip. Had to wait to get this as they wanted this months!
26.3 supplied payslip.

Assuming now we are at back of que again?? MA says 5 days but would be interested to hear if anyone has has any better turn around. I am still unsure if this is classed as a completely new application even tho we had received a full mortgage offer only a fortnight before?

Yep, back of the queue again, every time they ask for something you go back to the back of the admin queue......who then pass you on to the back of the underwriting queue. Such fun.

Okydoky25

Anyone know what dates being looked at at the moment then please?

Shoey1610

Its the 25th March for both documents and underwriting (I'm back in the queue myself) so they are looking at documents uploaded on the 25th and then if they are OK they will be passed to underwriting today and then underwriting will look at them when they get to the 27th/28th date IYSWIM

Okydoky25

Shoey1610 wrote: »

Its the 25th March for both documents and underwriting (I'm back in the queue myself) so they are looking at documents uploaded on the 25th and then if they are OK they will be passed to underwriting today and then underwriting will look at them when they get to the 27th/28th date IYSWIM

So if the docs were sent yesterday 26th we could hear Monday/Tuesday?

Shoey1610

You can monitor the date they are up to here:
http://www.santanderforintermediaries.co.uk/content/our-service

My last docs went in early on 25th and it was passed to do underwriting early this morning (had confirmation) so likely to hear Tuesday. I'm thinking Tues/wed for you?

Claire_A87

My offer was produced and faxed to the solicitors on Friday by Santander. So, from full application being submitted to offer it took 9 calendar days - not going to moan at that! Not received our paper copy though, so fingers crossed there's no errors :S