Santander - processing times intermediaries

marcmc84

Hi, we have just sent the full application off to Santander through broker. Had a text to confirm they have it from Santander. On their service levels it says setting up applications received on 19th June. then it says we are reviewing applications sent to our underwriters on 14 june.


Which part is when they do the credit check and instruct the survey?

kingstreet

Credit search was done during submission of application and valuation instruction is usually immediate.

marcmc84

Just had a call from estate agent, they have booked the survey this morning so now im guessing we are in the underwriting queue now which is running 3 days behind. So will be Friday/Monday before we hear anything back with what other documents they want

kingstreet

When we submit the application we upload the requirements straight after, so usually once the valuation is back the case is underwritten and offered immediately.

marcmc84

ok so not as smoothly as I thought, underwriter sent it back with request for loads of documents to support application in addition to what we already supplied. So now we are awaiting to go through the underwriting queue again.

Does anyone know if this list of documents will be all they need and they request everything they want to be happy to proceed or are they a lender that keeps coming back each week with different requests in bits and pieces. Id rather just send everything off and that is done yes or a no.

And they booked survey but had wrong address on it (digit in postcode wrong) so estate agent sent him back to Santander. Broker has said he has updated the address with lender.

kingstreet

A lender will only ask for more if something comes to light from the latest batch you upload.

For example, you are asked to upload a bank statement. That statement shows a credit for £15,000 three weeks ago not explained by (eg) a gifted deposit.

Expect next to be asked for source of funds for the credit.