Santander unreasonable requests - advice required

Social1973stew

Apologies in advance for long post. We are in process of purchasing a new house and are at our wits end with Santander who appear to be requesting every piece of documentation and forcing us into a situation where we need to pay 10k early redemption. :mad:

We started application on 29/3/17 as I started a new job on 20/3/17 after being agency for 1 year with back to back contracts (all provided to show continuous employment ) prior to this I have a long history of continuous employment (again provided including my CV) . We bank with Santander and they can see all income for over 3 years.

Santander requested evidence of long term employment arrangements or confirmation from agency of future employability. My new manager provided this in writing and my previous agency also provided evidence (thou Santander would not accept email) All,accepted.

We were then advised the needed a pay slip advised due to payroll closing for end of year missed the payroll date but did enquire about emergency payment but as this did not provide pay slip did not pursue. This was accepted and We provided contract showing earning. All accepted .

The case went to underwriters on 13/4/17 and Yesterday advised they have not accepted my contract on basis it is not on headed paper and they are still requesting a pay slip despite accepting previous explanation and their own policy. We have advised HR in the company I work is automated and unfortunately the contract (including emails) was all we could provide. THey have confirmation from my manager of my employment (on headed paper!!) I cannot asked my company to provide something they do not issue!!

We are now stuck as we cannot fulfill their requirements even if I provide a pay slip next week and completion is imminent. Our ERC is nearly 10k with only 1 year of our current fixed rate left.

Has anyone any further advice as to what to do next as we have been advised that given our financial situation another lender would be able to give us a decision with 72 hours.

csgohan4

unfortunately it is their money and their rules/criteria. You could try making a complaint.


But I wonder if a broker would have saved you a lot of pain. Loyalty doesn't pay no point in sticking with your own bank.


being in a new job is an issue for some lenders, again a broker could have directed you to be a lender suitable for your circumstances

Social1973stew

Thanks for reply - We do have a broker who is tearing his hair out and is liaising with his rep. He has advised with our earnings, deposit 30% and excellent credit history both 995 we should be having no issues. we have only remained with Santander due to the ERC 10k for 14 month left on fixed rate but feel we are being forced to pay this with current situation.
Think a complaint is required and if not resolved possibly FOS to try to recoup ERC as we feel this is an unfair penalty.

mrginge

Social1973stew wrote: »

Think a complaint is required and if not resolved possibly FOS to try to recoup ERC as we feel this is an unfair penalty.

There is no way on this earth that you will get the ERC refunded if you make the choice to go elsewhere.

Social1973stew

I suppose that would be the decision of the FOS if we raise a complaint with them and believe me if it comes to it we will try - nothing ventured nothing gained. The worst case they don't uphold but Santander need to pay re complaint raised.

Getting ahead of self thou as hoping a complaint and common sense approach will have an impact. just can't believe a contract which states my details, details of employer, T&Cs salary etc but is not on headed paper but is accompanied with organizational email, confirmation of pay due 28/4/17 and letter re employment on headed paper is not acceptable. Just need to get my pay slip this week and hope for the best - will keep updating and thanks for response

Thrugelmir

Social1973stew wrote: »

I suppose that would be the decision of the FOS if we raise a complaint with them and believe me if it comes to it we will try - nothing ventured nothing gained. The worst case they don't uphold but Santander need to pay re complaint raised.

Getting ahead of self thou as hoping a complaint and common sense approach will have an impact. just can't believe a contract which states my details, details of employer, T&Cs salary etc but is not on headed paper but is accompanied with organizational email, confirmation of pay due 28/4/17 and letter re employment on headed paper is not acceptable. Just need to get my pay slip this week and hope for the best - will keep updating and thanks for response

An email provides absolutely no assurance. Anyone could create one. Official documentation is always need to be provided on proper letter headed paper.

The ERC is a contractual term. Has nothing to do with unfairness. You've agreed to it in accepting the mortgage offer. They won't get charged for spurious complaints with the FOS either. What you will leave is a mark on your customer file though for future reference. What loosely can be described as customers simply not worth the time and trouble to deal with. Plenty of other business out there for the lender.

dunstonh

Santander unreasonable requests

To be honest, their requests are not unreasonable and are indeed logical.

My new manager provided this in writing and my previous agency also provided evidence (thou Santander would not accept email)

Most won't accept email and for good reason. Fraud.

they have not accepted my contract on basis it is not on headed paper and they are still requesting a pay slip despite accepting previous explanation and their own policy.

Get the employer to reprint it using headed paper. It is unusual for all the pages to be on headed paper. Usually, its only the first page/cover letter that is on headed paper.

The underwriters can overrule the first line. Sometimes this can be in positive ways to the borrower or negative. The underwriter feels your case is of greater concern than the front line staff member that dealt with the broker. The underwriter should be asked for clarification on what is needed given that most contract of employments only have the first page on headed paper.

and excellent credit history both 995

Marketing scores mean nothing.

Think a complaint is required and if not resolved possibly FOS to try to recoup ERC as we feel this is an unfair penalty.

Santander have 8 weeks to review your complaint and the FOS will take 3-6 months if you refer it to them. The FOS are highly unlikely to award you the ERC recovered as it is you that is breaking the contract. Not Santander. Plus, most importantly, the FOS cannot intervene in commercial lending decisions other then discrimination. So, all Santander would need to do is tell the FOS that you were a borderline case who had no payslips, no payments on your statement and could only provide copies of emails which were insecure or copies of a contract that was not on headed paper and because of that, they were not satisfied that you met their lending criteria. The FOS could not overrule on that.

just can't believe a contract which states my details, details of employer, T&Cs salary etc but is not on headed paper but is accompanied with organizational email, confirmation of pay due 28/4/17 and letter re employment on headed paper is not acceptable.

I can. Any old printer can churn out text. Emails are insecure and can be generated by any third party. Technically, headed paper can be forged easily as well but doesnt tend to happen with mortgage fraud. You have no payslips at this point. An apparent inflexible employer unwilling to generate the contract on headed paper. Your case has a number of red flags that put the lender on guard. Maybe you live in an area with high mortgage fraud too.

The key thing with these things is to get the underwriter to say what things they will accept if what they have asked for cannot be met in the way they want.

glosoli

To be fair on Santander it does appear that they have tried to help you in what does not appear to be a standard case. I highly doubt, with income verification from an email, that any other lender would be able to give you a lending decision in 72 hours.

Social1973stew

glosoli wrote: »

To be fair on Santander it does appear that they have tried to help you in what does not appear to be a standard case. I highly doubt, with income verification from an email, that any other lender would be able to give you a lending decision in 72 hours.

Really not a standard case just because I started a new job! To clarify Income verification was not via email it's in my contract (PDF) just not on headed paper. They have also written confirmation of my employment on headed paper from my manager which they insisted was addressed to myself! Struggling to see why they cannot join the dots it's not difficult.

Luckily by Friday I will have a pay slip and in a position to consider all my options I respect of the ERC appreciate comments made but as said nothing ventured nothing gained if we are faced with paying the ERC.

On a side note| As a newbie really find the tone of some of the responses very unhelpful particularly as only found out yesterday and have had no opportunity to speak with Santander or my broker and in panic mode thanks for the reassurance

ytfcmad

No tone, just truth's you wont except.

Social1973stew

ytfcmad wrote: »

No tone, just truth's you wont except.

What am I not accepting think my post started was advice required - which I have taken onboard - I have made a formal complaint (as suggested) and seeking clarification on what they will accept. Equally will contact my employer to see if they can produce something on headed paper to meet their requirements (its Sunday) and send santander my pay slip when it arrives later this week. However thanks for your helpful response and reinforcing my comment