can I trust a Santander AIP

midget_1907

Hi all,

bit of advice so we went to a broker a month ago explained our position and she got us an AIP from Santander on a 95 % mortgage.

The broker told us this involved a credit check and all is fine etc. But from checking my credit file no searches have been made suggesting they haven't credit checked us?

I guess my problem is with my credit score and I was very happy but slightly surprised it had been accepted.

You see back in June 2009 I was made redundant and spoke to my bank who I had a loan with. They agreed I could pay half that month and the remainder the next month with the usual payment. This has been recorded as an AR on my credit file and I showed the broker the credit report and she thought it would be no problem with Santander and gpt me the AIP.

I got quite excited at the thought of the AIP as didn't believe I would get one at 5% but I am since really worried. Can anyone five me a more definitive answer?

I guess I need to know shortly so I know whether to renew my rental property or not?

Thanks

kingstreet

Have you obtained all three versions of your credit file to see what's on them all?

Keekles

If the only issue is the loan repayment back in '09 which you highlighted, I very much doubt you'll have a problem. Had you said '13, there might have been an issue.

I don't think anyone on a forum that doesn't fully understand your personal circumstances or financial situation can give you a more definitive answer than the AIP that Santander have given you.

amnblog

So, do you believe your mortgage broker is lying?

What have they said?

midget_1907

By looking at check my credit file it tells me the ar marker is on all 3 reports.

I only think the broker is lying as I haven't had any searchers recorded on my credit file and I don't see how a credit search can be performed without a record on my file if that makes sense.

The broker told me I had been credit checked and the full mortgage wont be a problem as she has already seen payslips and bank statements etc

rizla83

i think santander do a credit search on their AIP as i have one showing on my experian report. I have been told that they can be very selective at 95% so if you have an AIP its a good sign.

Be warned though that applications are taking upto and in excess of 5 weeks from application date now due to staff training etc ready for the end of April.

Do yourself a favour and have the following documents ready to save time:

3 months wage slips
3 months bank statments
proof of deposit
Copy of work contract if you are employed via agency or temp contract etc
Make sure that you are on electoral roll or if not do it now and get a letter from the council.

I only say this because we have been asked for every document under the sun for our Santander 95%. They are being very picky with these applications it seems.

They have a habit of asking for documents bit by bit causing delays even further so if they come back and ask for something request a list of everything you will need to get the application signed off and you could save a good few days processing time.

best of luck.

midget_1907

Thanks Rizla

I guess we should just do the full app and see what happens.

We have provided 3 months bank statements for all current accounts, savings statements and 3 months payslips to our broker who said this was enough.

Fingers crossed it goes through ok as we are fed up of renting now.

Rizla I saw your message and santander querying your direct debits for pet insurance am I best letting the broker know my direct debits are to pre empt Santander querying?

rizla83

Hi,

yea if its 95% they will probably ask what all outgoing direct debits are on your statements. Usually just to match up with what is on your application so make sure you declare all your outgoings correctly on your application.

I dont think we delcared our £9 per month pet insurance on our application and my £20 per month gym membership and they spotted it strait away which shows they are looking at these applications very carefully.

cheers,

Keekles

If your broker is any good at her job, she already knows all of your direct debits, the restaurants you eat in and where you buy your underwear