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fingers firmly crossed again....
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SilverMist
Posts: 26 Forumite
So, after Natwest declined our application and I saw the light and found a new broker (not the Countrywide guy who cost us 6 weeks and me a few grey hairs)
New broker applied to Santander last Monday and has confirmed today that all documents are received and our application is ready for an underwriter to assess.
Do the brokers on here think I stand a good chance of being accepted (pending valuation, which I am not worried about at all as property is under priced for the area due to quick sale) - affordability is ok, our credit files look ok (a couple of historic late payments on a store card but this was 2013 and card now cleared), credit card with 0 balance, loan payment of £200 p/m finishing July 2016 and car loan since January this year. No other debts, no defaults etc. Had lived in overdrafts until 6-8 weeks ago but sorted ourselves out and they are now clear. Hadn't gone over the limits though and spending was consistent within them, if that makes sense.
Have been a nervous wreck since offer was accepted on 26th February!!! Just some words of wisdom or reassurance would be good!
I don't quite get why all this couldn't be done at AIP stage (with a fee maybe, still pending valuation and final approval but then the 6/7/8 week wait wouldn't affect everybody else ie the vendors who also have their future in Santanders hands!??!)
New broker applied to Santander last Monday and has confirmed today that all documents are received and our application is ready for an underwriter to assess.
Do the brokers on here think I stand a good chance of being accepted (pending valuation, which I am not worried about at all as property is under priced for the area due to quick sale) - affordability is ok, our credit files look ok (a couple of historic late payments on a store card but this was 2013 and card now cleared), credit card with 0 balance, loan payment of £200 p/m finishing July 2016 and car loan since January this year. No other debts, no defaults etc. Had lived in overdrafts until 6-8 weeks ago but sorted ourselves out and they are now clear. Hadn't gone over the limits though and spending was consistent within them, if that makes sense.
Have been a nervous wreck since offer was accepted on 26th February!!! Just some words of wisdom or reassurance would be good!
I don't quite get why all this couldn't be done at AIP stage (with a fee maybe, still pending valuation and final approval but then the 6/7/8 week wait wouldn't affect everybody else ie the vendors who also have their future in Santanders hands!??!)
When life gives you 100 reasons to cry, show life you have 1000 reasons to smile 
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Comments
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Why did it get declined at Natwest?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
They said because of overdraftsWhen life gives you 100 reasons to cry, show life you have 1000 reasons to smile0
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If you have passed credit score on full application with Santander you look well set.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks amnblog, thats good to hear and would be why my broker said it looked positive yesterday).When life gives you 100 reasons to cry, show life you have 1000 reasons to smile0
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I just had a result with Santander that should give you hope.
On seeing my clients bank statements I told him I was 95% certain it would be declined on account conduct. As it was a free survey and no rush to get to exchange we had a go for it anyway. After a bit of back and forth I got the email this morning saying valuation authorised. I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Great, thank you Betmunch - yes that gives me hope!!When life gives you 100 reasons to cry, show life you have 1000 reasons to smile0
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By Santander standards, they appear to be getting slightly more lenient.
We too have seen a few cases (on here) and generally that are going through.
Dare I say we are starting to have a tad more confidence in their systems again..I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
good news tonight, Santander have agreed our mortgage pending valuation. So relieved!When life gives you 100 reasons to cry, show life you have 1000 reasons to smile0
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