Abbey/Santander application - Delay

PheoUK

Wozza85 wrote: »

How many times were you all credit checked with Santander and does it appear on your experian report as 'First mortgage' (if it is your first mortgage).

I have a single check from them for the mortgage so far. Not sure about the first mortgage bit I'd have to go find the files.

kingstreet

Wozza85 wrote: »

How many times were you all credit checked with Santander and does it appear on your experian report as 'First mortgage' (if it is your first mortgage).

First mortgage means first charge, not the number of mortgages you've applied for.

Mrs_Z

Hi, another one here to join.... our application should have gone in on 17/2 via a broker, have not heard anything yet but do not expect to hear anything until end of next week, given by the current processing times (14.9 days).

Wozza85

kingstreet wrote: »

First mortgage means first charge, not the number of mortgages you've applied for.

What do you mean by first charge?

Was just a query as that how it shows in my report and wanted to know if they do more credit checks than that.

Wh05apk

Mrs_Z wrote: »

Hi, another one here to join.... our application should have gone in on 17/2 via a broker, have not heard anything yet but do not expect to hear anything until end of next week, given by the current processing times (14.9 days).

The quoted time of 14 days is to offer, not processing, this is still pretty quick in comparison to most lenders, the actual processing time to get to the underwriters is about 5 days, then a further 3 days to be underwritten, so 8 days processing in total.

PheoUK

Just had email from the in Branch Mortgage advisor - mortgage has been offered and notification is on the way to our solicitors!

Finally, been a long time waiting since valuation on 7th Feb!

sdl1503

PheoUK wrote: »

Just had email from the in Branch Mortgage advisor - mortgage has been offered and notification is on the way to our solicitors!

Finally, been a long time waiting since valuation on 7th Feb!

Yay! Congratulations.

JennGa

PheoUK wrote: »

Just had email from the in Branch Mortgage advisor - mortgage has been offered and notification is on the way to our solicitors!

Finally, been a long time waiting since valuation on 7th Feb!

Woo hoo congrats!
We are still waiting to be find out when valuation is booked for. Got 2 weeks left to exchange eek!

JennGa

Now with underwriters, I thought we had been through this bit! Getting confused now :mad:

kingstreet

Wozza85 wrote: »

What do you mean by first charge?

Was just a query as that how it shows in my report and wanted to know if they do more credit checks than that.

It means it's for a loan secured over a property with a first charge, as opposed to a loan secured over a property with a second charge.

http://lmgtfy.com/?q=first+charge

It has nothing to do with the number of searches. That will vary from lender to lender.