Full mortgage offered in 24h??

Growuptime

Hey,

Just a question to see if this is common or normal..

Applied for a mortgage with Santander on Wednesday afternoon via a MA. Received an email letting me know they had received it at 15:30.

10:30am the next day I get an email saying the mortgage offer is in the post... called my MA to ensure this wasn’t a mistake and he had spoken to Santander who stated that as I hold accounts with them they fast tracked my app and required little documentation. And they were satisfied to lend on the property by doing an online valuation, no survey required.

I’m a FTB with 10% deposit buying in the southeast. Nationwide nocked me me back at 10% due to some 4 year old payday loans. So I was slightly dubious about applying with another lender straight away.

Any thoughts on this?

Thanks!

amnblog

Santander have two speeds in our experience, ‘lighting’ and ‘going nowhere’.

shortcrust

I’m not sure what thoughts you’re looking for. Sounds straightforward enough to me. You applied and they said yes.

Growuptime

As a first time buyer I suppose I have always heard/read stories of mortgages taking months to arrange.

‘Too good to be true’ springs to mind.

This is purely for my own curiosity to see if a mortgage being offered without any visit to the property or questions asked Is common practice under some circumstances.

shortcrust

I don’t think there’s any reason why you shouldn’t take it at face value. Just move on to the next bit of stress!:)