What are my chances? Santander appeal

bleo89

Hi all

Recently applied for a Santander mortgage. 69% LTV, DIP accepted and sent to full application.

Went to underwriters but it has been declined due to affordability.

I believe this is because my credit report still shows that I owe debt (loan, credit card etc) despite me paying it all off, completely clear, a few days before the mortgage application.

The Experian file won't update until early January.

Mortgage broker asked me to send him statements showing my clear balances and he'll appeal with Santander.

What are my chances, do you reckon? Anyone had appeal success? And how long does it usually take?

Cheers in advance.

amnblog

Follow your brokers advice. Santander are an unpredictable Lender but you may get a result here.

Thrugelmir

Asked rhetorically. How did you manage to clear all of your debts just before submitting a mortgage application? Certainly something an underwriter may well question in their minds.

Clacecel

This wasn't to do with a mortgage, but a loan application to Santander. My husband applied for a 15K loan from Santander. We own our home outright, value approx 220K, My husband has a loan already with Santander with approx 9K outstanding. Neither of us has EVER been late with a payment, or missed a payment on anything. My husband has a gross annual income in excess of 60K per year and I have a small pension, and he has two credit cards with zero balances (if used, the balance is always cleared the same month). We have no other debts. We each have some savings with Santander. The loan application was declined !!! Go figure !! The explanation was that "it didn't currently meet the loan criteria" !!! The point I am trying to make is that there is no rhyme or reason to santanders decisions on anything... Good luck with your appeal. Frankly, we are currently moving our accounts away from Santander. If my husband did not meet their criteria, then who on this earth does ????

Happyland000

What was your result?

Sibz

Yeah, how Santander decide anything is anyone's guess. I've found them to be a horrible company to deal with

Thrugelmir

Happyland000 wrote: »

What was your result?

Best to start your own thread and ask questions that relate to your own situation. You'll more likely receive answers then. :beer:

Happyland000

True, Although I find people rarely post their result

KnowledgeIsLife

If you can prove these have been repaid in full from my experience (I work at Santander) in most cases you should be fine hope everything works out.