Help please, Santander delay might lose us our new house!

THJ

Hi

Hoping someone can help me please! Apologies for long post.

I have a mortgage with Santander, I'm married but it's in my name only as it precedes my marriage but is our marital home. Tied in to fixed rate 3.5% till November. Since the initial mortgage I have had twins, they are a year old and I returned to full time teaching job in January. No childcare costs, thanks to in-laws. My husband obviously contributes to the house.

I accepted an offer in November and had offer accepted in January. Spoke to Santander in November, chap said fine, supply first month's payslip which delayed things by 3 weeks. They then arranged a 40 minute telephone affordability interview. All was fine, even though they wouldn't take my husband's contribution into account.

They rang today to book an hour (minimum) telephone call on Thursday. Now I have just received an email saying I need to provide my last 3 months payslips? I was on maternity leave :huh:

Our reduced offer was accepted on the basis of a quick sale and the first chap said it would be a straightforward port. I'm not changing the terms or amount borrowed.

Finally, my questions! I know Santander are not actually obliged to port my mortgage but why did I have to include my husband's outgoings and not his contribution?

Santander have the most convoluted application process and from their online progress tracker it looks like weeks until a decision is made-should I cut my losses and pay the early redemption fee of £5000? LTV is 60% as were using savings to buy a bigger house, I've seen deals for 2.4% fixed for 5 years.

Any help or experience of similar would be most appreciated. Thank you.

Thrugelmir

THJ wrote: »

Finally, my questions! I know Santander are not actually obliged to port my mortgage but why did I have to include my husband's outgoings and not his contribution?

Your husband is a financial dependent. Therefore will be factored into affordability calculations. If he is not named on the mortgage then Santander have no means of verifying his financial status.

THJ

Hi

Last Monday I was told that the mortgage was in my name so my husband's earnings would not be taken into account. I had a 40 minute phone call to this effect, checking my salary covers my outgoings (it does)

I was told I could add him which would be ideal, but I would have to pay the early redemption fee because the current credit agreement is in my name.

amnblog

They will also most likely to ask you to provide evidence of savings to cover the gap in your (not your husband's) income whilst on maternity leave.


Worth noting for other viewers than you don't need to endure these 60 minute phone calls and all this aggravation through dealing direct with your lender when porting. A mortgage broker can handle this for you in as much slicker and less stressful manner.

THJ

Wish I had known I could've used a broker to port!

anmblog you were really helpful 3 years ago when I was facing similar mortgage woes, thank you again :beer:

I am actually returning from a year's maternity leave. I have sufficient savings but have no intention of going on maternity leave again (I had twins...). Any idea what they talk about for an hour?

Thanks