Santander application still causing me stress!

newbie_emma

After my initial post, I spoke to Santander about our application that is with the underwriters. It was sent to them via our broker (who couldn't seem to care less!). I wanted to see how long our application would take to be rejected/approved and was told next Tues/Weds which is fine, but they also told me that the initial application was rejected, but then when they looked at it again with all the supporting documents it was accepted fine so shouldn't really be any problems going forward. Our broker didn't tell us ANY of this, just said our AIP had been accepted and to wait for Santander to get back to us! Now I'm all worried that we're going to get rejected especially after reading all these horror stories about how strict / inflexibleSantander are as a lender. Do i go somewhere else for another AIP in case things fall through??x:mad:

libf

Wait until the application is either approved or declined before doing anything else. It isn't a no yet, so you may be stressing for no reason. (Unless you have a reason for being in a desperate rush?)

If you really don't trust your broker then find another, and possibly consider making a complaint about the current one.

lvm

Maybe your broker didn't want you to worry?

I applied for my BTL mortgage through Santander via a broker a few week ago and was initially rejected but was due to a glitch with their rental criteria when it should have (and was a few hours later) been accepted.

Thrugelmir

If Santander are processing the application. Then your broker has nothing to say to you of any value. They'd prefer to spend their time elsewhere I suspect.

newbie_emma

We are buying a repo so they want us to complete in 21/28 days so yes in a bit of a rush. My broker just emailed me this evening to say they'd no update on progress yet, so I told them what santander told me re the applications, broker questioned where if got that info from and that they weren't aware of it, so not filled me with confidence. I suppose I can hang tight until Tues or Weds but it's killing me!!

amnblog

A classic way to cause problems with a case, or cause yourself unnecessary worry, is to contact the Lender direct.

Work through your broker only. If they are not performing, tell them so and tell them what you expect from them.

You and your broker getting different answers from the lender is most likely because you are asking different questions.

I suspect your case will progress in good order.

newbie_emma

I think I'll speak to the broker next week. I did raise concerns about santander not being the appropriate lender because of our situation but the broker just keeps saying we've got a really limited number of options. I suspect if I stay with them then that's right as they are only a small estate agents, but if high street lending doesn't get us anywhere surely we could look at something online like Kensington mortgages etc? Fingers crossed for now!

amnblog

You went with the broker at the Estate agency?

Thrugelmir

newbie_emma wrote: »

I did raise concerns about santander not being the appropriate lender because of our situation

What's unusual about your situation?

newbie_emma

Yes we went with them purely because they're also dealing with the commercial vendor and can help talk them out of bailing on us if we don't quite manage to complete in 28 days (so they said). Our situation is self employed we can give 3 yrs accounts but 2 for us looks better as net income was 16k then 18k then for this last year is 53k so we need our most recent figures taking into account