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If mortgage lender is doing valuation, can I assume I passed initial credit checks?
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KillTheKeyboard
Posts: 28 Forumite
Questions in the title. Application is with Santander.
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Some lenders do the valuation as a very first thing before they do anything else, hwther the others only fo the valuation after everything else has been signed off.
Sorry, don't remember the Santander's process.0 -
It would just make more sense from a cost saving point of view on their end, and obviously be reassuring. Unless I'm missing something.0
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If you don't pass the initial application checks. Little point in progressing further (at great expense and waste of time).0
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Santander tend to check the application via to carrying out valuation they do not have a day 1 valuation process so it should be a good signI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
They do on newbuilds.
OP - every lender credit checks you as the application is submitted. If you haven't been declined at submission, you've passed.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
It isn't a newbuild.0
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