Santander FTB timeline?

Aly28

Hey guys,
Update for me today. Underwriters have asked for more documents so the waiting continues. I'm a nervous wreck! Really hoping for a decision this week!

SuboJvR

Hi all

Day 9/Working day 7 since our application went in. Few small things along the way. Our valuation was done on 21/6 but as of yesterday they were still waiting for the report. Our broker typo'd my name (it's a very complicated name lol) on our direct debit form so that needed re-signing and re-sending.

Then we were just waiting for our Authority to Proceed to come in for the Help to Buy scheme which happened at about 4:30pm yesterday so sent that off.

Nothing else requested from Santander thus far. According to their website for intermediaries their average offer time for residential mortgages is 11.4 days. I think with the authority to proceed delays for us which added an extra 3, I'm hoping we hear something by early next week!

SuboJvR

Aw, it's Friday afternoon and I've not heard anything back. Looks like we will be rolling into next week!

jarshay

Friday afternoon and nothing here either! I'm literally losing the will to live.

I need to let my letting agents know on Monday if I am leaving my rental - and we had a rent review and they've but our rent upto £2500 from £2000 in the space of one month!!!!

I need this mortgage and house to go through ASAP as the mortgage there is online £1200 a month

LKRDN_Morgan

jarshay wrote: »

Friday afternoon and nothing here either! I'm literally losing the will to live.

I need to let my letting agents know on Monday if I am leaving my rental - and we had a rent review and they've but our rent upto £2500 from £2000 in the space of one month!!!!

I need this mortgage and house to go through ASAP as the mortgage there is online £1200 a month

I wouldn't be telling the letting agent anything until you've exchanged contracts. Too much can go wrong between now and then. Even after getting the mortgage approved

BLOW_FLY

jarshay wrote: »

Friday afternoon and nothing here either! I'm literally losing the will to live.

I need to let my letting agents know on Monday if I am leaving my rental - and we had a rent review and they've but our rent upto £2500 from £2000 in the space of one month!!!!

I need this mortgage and house to go through ASAP as the mortgage there is online £1200 a month

With a 25% increase in rent I'd hazard a guess your LL has fallen foul of the new tax laws and you're now being asked to pay for his leveraged debt.

As said above I probably wouldn't do anything until you've at least exchanged contracts but a 25% rent increase and £2500pcm is pretty eye watering.

BF

jarshay

BLOW_FLY wrote: »

With a 25% increase in rent I'd hazard a guess your LL has fallen foul of the new tax laws and you're now being asked to pay for his leveraged debt.

As said above I probably wouldn't do anything until you've at least exchanged contracts but a 25% rent increase and £2500pcm is pretty eye watering.

BF

Yes that's what we think.

We are going to stay here till the end of August and I hope it will have all gone through by them - subject to getting this bleeding mortgage offer!

SuboJvR

Just got a text confirming our offer. Yay!

jarshay

SuboJvR wrote: »

Just got a text confirming our offer. Yay!

Congratulations

You must have got your offer as we got our decline :mad:

Aly28

Jarshay....same here
It came back from the underwriters as they worked out my affordability different from what the Santander mortgage advisor had, which was very frustrating!

Im getting right back on the saddle and seeing another house tomorrow which is within my new affordability! She told me my application can be amended and submitted straight to the underwriters again with the new property details so I don't have to go through all the credit checks and uploading of documents again.

Hope things work out for you soon!