Santander mortgage reviews

Maduck22

Hi all,

We are FTB's and pulling out of mortgage application after 5 weeks. Partner was self employed until beginning of this year, then started permanent job. Bank have known that all along and are now saying they want one year permanent.

Broker is going to key in figures for Santander, to see if we are suitable. I am a little concerned as I know high street lenders often have stricter criteria than smaller lenders.

What peoples opinions/ reviews are of Santander? Will they require p60 as we don't want to end up in the same situation 5 weeks down the line with them requesting SA302's etc etc. Efficiency etc? Is there anything we should be aware of?

Any advice very welcome.

ri17

There is a santander post further down that you will get some replies from.

My experience is a very very slow one. We;re still waiting a decision almost 6 weeks on. |Nothing to do with any issues and we have given them to documents they requested the same day its just we keep getting put at the bottom of the pile again and its dragging.

As for P60, they requested mine (permanant job) and not my husbands (Rolling temp job) so no idea with that logic, so yes they could request it x

Thrugelmir

Be guided by your broker. Lenders differ in their requirements.

koexelek

Thrugelmir wrote: »

Be guided by your broker. Lenders differ in their requirements.

Speaking as a broker, I am finding Santander very hard work at present. Only use them if I have to.

They can be good on their day, but recently they have been shocking

Maduck22

Thanks for responses. Our offer was accepted end of August, so don't have time for a lender that's going to be hard work! Hopefully he'll come back to us today with a couple of options! Fingers crossed

Thrugelmir

Maduck22 wrote: »

Our offer was accepted end of August, so don't have time for a lender that's going to be hard work!

That depends on your profile more than anything else. Lenders are consistent in their individual approaches.

enginesuck

I found them quick and easy, i was in my current job only 8 months at the time with six months out of work before hand

Maduck22

Does anyone know if Santandar are particularly picky with the content of a pay slip?
Partners payslips look like he printed them himself - but its just the standard template the company use so not much he can do about it but broker thinks it might be an issue!

Senior_Paper_Monitor

Santander use automated income variation, so I would be surprised if this proved a problem ...


From their criteria guide:


Automated Income Verification (AIV)






AIV is an automated way of verifying income through the


Credit Reference Agency (CRA) comparing Current Account


Turnover (CATO) information against an applicants stated


income. Where a joint application is submitted, both applicants


must be AIP eligible.


This agreement is on the basis that you, the intermediary, are


satisfied that the income declared is accurate and that at the


time of full case submission you have supporting evidence of


net income which meets our requirements. This information


should be retained on file for a minimum of two years from


the date of completion.

Senior_Paper_Monitor

Generally, Santander are reasonable quick and predictable if the case fits - it goes at the speed they are set to (depending on workload and I believe they are comparatively quiet at the moment) and there is little the broker can do to chivvy it a long other than present complete and accurate paperwork.


If and when 'the wheels come off' (and unfortunately they have some 'policy' rather than published 'criteria items' that can take even the most experienced broker by surprise) it can become an intensely frustrating process and little counter argument is accepted.