Cannot BELIEVE what is happening to me/Santander.

rizla83

After almost 4 months of stupid back and forth, a million different documents requested and supplied we got our mortgage offer 2 weeks ago.

We decided to buy a different property because of a bad survey.

the new house is £7,000 cheaper so our broker filled out a 'change of property details' form.

It was then sent back to the underwriters (which is a pain).

Now we have had a call to say it has been rejected!! I asked why and he said it is because our mortgage offer was over 30 years but my partner has had a birthday (2 weeks ago) and it has tipped us over the age limit!

We said ok then we will just have it over 29 years and that will be problem solved.

NOPE. we have now been told that we might have to start the whole application again from scratch (with a current 10 week running time!!!)

Something HAS to be wrong here. I have in my hand now a mortgage offer from Santander dated 2 weeks ago for 88k.

All we need is the property to be changed to one that is 81k and the term of years to be REDUCED by 1 year!

how can that require a full new application???

what a joke.

ACG

Ask your broker?

I have never used santander but your broker is being paid to answer your questions.

Dont forget there has been mmr between now and your original application.

rizla83

i have asked my broker, he doesnt understand it either. He is going to call them to see if it can be sorted out over the phone.

how can i sit here with a mortgage offer from them that was issued only 2 weeks ago for more money than i need now. Then they tell me to put a full new application in? Nothing has changed other than a birthday and a cheaper property.

Never heard anything like it.

ACG

MMR has been introduced.

They will be assessing affordability differently to when you originally applied. To say it is just the DoB i find hard to believe as the £7k difference would counteract the reduction in term by 1 year.

rizla83

well we will just have to see. I just completed an affordability calculator on the santander intermediaries website out of interest and it is 107k low risk, 120k medium risk and 140k high risk.

we have almost no outgoings or debts at all so i cant see any problems. Im pretty sure that our first application although before the MMR was treated like an MMR case as we all know a lot of lenders where using the criteria before it actually started to get used to the process.

we where asked for every document you could imagine along with 'what was this £2.96 paypal payment' etc.

will just be a pain waiting another 10 weeks if thats the case!

Wh05apk

Your broker should be able to get this re-assessed, the term reduction should be fine, it certainly shouldn't take 10 weeks either, currently about 2 weeks to be processed and go through underwriting.

amnblog

Santander applications have to be 'correct' going in and then they run through smoothly.

When something is not right they become among the trickiest of lenders to deal with.

Leon_W

Santander are stupid, so sorry you've had to learn the hard way OP.


I'd rather go out of business than have to "recommend" Santander to a client as it's rather like turkeys voting for Christmas.

Rmphotography

Sadly I am in the santander being a pain in the !!!! vote. Over 2 months and we are STILL waiting for a decision, meant to be tomorrow but if not we are cancelling and going with someone else.

Wozza85

Rmphotography wrote: »

Sadly I am in the santander being a pain in the !!!! vote. Over 2 months and we are STILL waiting for a decision, meant to be tomorrow but if not we are cancelling and going with someone else.

I was in the same boat with santander, i waited over 2 months to finally get to valuation stage! I just had valuation take place on Tuesday after application was put in early February