Abbey/Santander application - Delay

BeauLiLuLu

Chyna81 wrote: »

Hi All,

Thought I would post my experience with Santander so far.

28/03 Viewed property and placed offer.
31/03 Offer accepted.
03/04 Mortgage agreed in principle with Santander via MA
03/04 Full application made all documents sent via MA
03/04 Documents with assessment team.
15/04 Documents gone to underwriters.

Santander seem a bit slow in my opinion, I currently had been accepted with Woolwich on another property which I was due to purchase however fall through due to seller and I must say they were very quick with mortgage offer, however Santander offered better rate so I have gone with them.

I have been advised that Santander have an assessment team who assess all documents before it is given to the underwriters and this where the delays lay.

Hopefully I hear soon.

Welcome to the waiting game

Eviesmummy

Chyna81 wrote: »

Hi All,

I have been advised that Santander have an assessment team who assess all documents before it is given to the underwriters and this where the delays lay.

Hopefully I hear soon.

Yes, once you get notification that they have instructed a valuation you know that financialy everything is sound. As long as the valuation comes back ok you will get an offer.

Chyna81

Hi All,

I am just wondering can anyone shed any light on the new Mortgage rules which are due to come into effect 26th April 2014.

The information I have read so far if a mortgage offer has not been given by 26th April 2014, all mortgage applicants even if it has been agreed in principle will come under the new rules, which makes it 10 times harder to get a mortgage offer.

I wish Santander would hurry up, has anyone had an offer as yet?

Chyna81

Following on from my previous post I have been informed Santander have implemented the new Mortgage changes from 7th April 2014, so my application comes under the new rules and condition hence why application is also taking slightly longer than usual panic over.

chriskellym86

Finally had my mortgage application approved. Waiting for the bank to arrange valuation! Phew getting there!

Wozza85

Another query regarding statements!!!!

Why don't they just make a list from the beginning and ask all the questions then? Surely it doesn't go back to the back again!!?

Killing me.

brenda10

chriskellym86 wrote: »

Finally had my mortgage application approved. Waiting for the bank to arrange valuation! Phew getting there!

Family member applied February and from that on in Abbey have frequently requested many more documents, has been with the underwriters so many times I have lost count
Well done to you.

Wozza85

brenda10 wrote: »

Family member applied February and from that on in Abbey have frequently requested many more documents, has been with the underwriters so many times I have lost count
Well done to you.

Basically what I am going through.

Any longer and the sellers will pull out :mad:

brenda10

Wozza85 wrote: »

Basically what I am going through.

Any longer and the sellers will pull out :mad:

Best of Luck.
Hang on in and don't give up, we will hopefully get there in the end and hopefully sooner than later, keep pressure on e/a and keep solicitor fully informed.

BeauLiLuLu

Wozza85 wrote: »

Another query regarding statements!!!!

Why don't they just make a list from the beginning and ask all the questions then? Surely it doesn't go back to the back again!!?

Killing me.

That would be far too easy! :eek:

brenda10 wrote: »

Family member applied February and from that on in Abbey have frequently requested many more documents, has been with the underwriters so many times I have lost count
Well done to you.

I feel the pain!

Wozza85 wrote: »

Basically what I am going through.

Any longer and the sellers will pull out :mad:

This is my biggest worry too... :(:(

As much as I love a Bank Holiday, the wait has been painful!!!