Mortgage Application seems to moving Quickly

kingstreet

rabh wrote: »

For the time being we got a 1.59% rate, which I'm not sure we could have got elsewhere. Do you mean during the course of the mortgage you're not expecting them to remain competitive?

On a related note, this thread mentions a tracker to check progress: http://forums.moneysavingexpert.com/showpost.php?p=65026246&postcount=144. But I can only see an option which involves entering a password. Does anybody know if there's a publicly accessible tracker that still exists?

Like I said;-

If you know your case reference number and input that and your POSTCODE, you should be able to see your application.

Jhoney_2

How long do Santander mortgage offers last, is it 3months? Also is it extendable?

Didn't see that on their website.

kingstreet

Depends on the drawdown deadline of the selected product.

Once you get within two weeks of the deadline, if you won't complete, you have to pick a new product and the usual £199 fee isn't payable.

rabh

kingstreet wrote: »

Like I said;-

Ok - I assume you mean that for the password field I just enter my postcode?

Thanks for that - will try this evening when I'm back near our application forms.

kingstreet

As this appears to require some clarification, allow me to provide it.

In the "case identifier" space, you type the reference which should be "AA1234567" for residential applications and "AF1234567B1" for a buy to let.

In the "password" space, you enter your current postcode, in the format "LL1 1AA," or whatever your postcode happens to be.

If that fails, I would suggest contacting whoever is arranging your mortgage for such information.

rabh

kingstreet wrote: »

As this appears to require some clarification, allow me to provide it.

In the "case identifier" space, you type the reference which should be "AA1234567" for residential applications and "AF1234567B1" for a buy to let.

In the "password" space, you enter your current postcode, in the format "LL1 1AA," or whatever your postcode happens to be.

If that fails, I would suggest contacting whoever is arranging your mortgage for such information.

Great, that worked. Many thanks.

I can see the application went to the underwriter, but now it says "Declined on affordability - Budget planner deficit". The case tracker shows my broker then submitted some further documents today.

I don't suppose you know if that's a common reason for decline, and whether it is easily overcome? I wasn't borrowing to the limits of the affordability calculator, and I've had a Santander account for years, so hoping it isn't the end of the road here.

woolythoughts

We we're quick also .... application to woolwich went in on the wednesday, valuation booked for thursday, offer notified on the friday - 3 days

kingstreet

rabh wrote: »

Great, that worked. Many thanks.

I can see the application went to the underwriter, but now it says "Declined on affordability - Budget planner deficit". The case tracker shows my broker then submitted some further documents today.

I don't suppose you know if that's a common reason for decline, and whether it is easily overcome? I wasn't borrowing to the limits of the affordability calculator, and I've had a Santander account for years, so hoping it isn't the end of the road here.

It's never happened to me, so I can't say.

We prepare and save a copy of the affordability calculator as early as possible and ensure prior to submission that it remains fully accurate before the submit button is hit.

rabh

The underwriter agreed to our application today. A valuation has been instructed Seems like a silly question but... does anybody know how this works for new build flats? Do they send somebody to the flat itself to value it, or is it done based on floorplans and an idea of how much flats have sold for in the area?

If it is done in person, is it possible to accompany the surveyor, as we have some measurements for furniture and so on that need to be taken at some point anyway.

amnblog

Surveyors don't like company - and who can blame them.


Wait for your offer before you measure up for furniture!