Santander - What happens after 'Application Offered'

Stewpot1776

Hello all,

I was wondering if someone could help me out with a few questions with regards to my mortgage offer.

How long will it take to come in the post and will it look like my illustration?

I have a 95% mortgage with a 3300 deposit on my 66000 house, on the offer will it say 62700 or will it say 66000?

How long does it take to move in from this point if it's no chain?

Sorry for all the questions, I'm a FTB and have no idea.

Many thanks

Stu

kingstreet

A couple of days from the point it is mailed.

Yes, it looks like a KFI with some other stuff at the beginning and end.

It will say repayment, the term, mortgage amount £62,700, deposit £3,300, purchase price £66,000 just like your illustration in box 3.

Time to completion will depend on your solicitor and is not a mortgage issue. Once all necessary non-mortgage related paperwork, searches, enquiries are done you should be able tom exchange contracts when everyone has agreed a completion date.

Whoever is advising you should be able to answer these questions.

user1168934

I recently took a mortgage from santander but I am not sure i follow you. If you have not received the offer in the post how do you know it has been offered?

Keekles

If using a broker, we're often notified before the offer is actually out.

kingstreet

We're told it's been issued, then we wait for our copy through the post like borrower and solicitor.

Many lenders give us the option of downloading a copy of the offer when it's issued or even faxing us a copy.

Santander doesn't, or we don't do enough business with them for them to think we're worth that.

Stewpot1776

Thanks so much Kingstreet, hopefully it will be here tomorrow or Saturday as I found out yesterday afternoon of the offer. That was really helpful as I need to explain it to my mother as I'm away and need her to know what it looks like as I don't know.

Thanks again guys