Santander Inspection/ Valuation Survey? Whats next?

mazibee

Hi All,


Received an email from EA that valuation survey is booked on April 24, 2019


As we are FTB can some one tell us booking an inspection / valuation by lender means documents have been checked or documents will be checked after that the satisfactory property inspection report has been received by the lender.

The documents will be checked once the inpection report comes back.


Thanks in advance

LRmortgage

In order to speed up the process, lenders often run the two processes side by side.
I.e. just because the valuation has been booked, it doesn’t mean that the application or your documents have been looked at yet.

mazibee

12-04-2019 Application was submitted on Friday Received from Santander.
16-04-2019 Lender asked for more documents (Proof of address Submitted Council tax bill and water bill submitted)
24-04-2019 Inspection survey booked


Does it means documents have been checked and waiting for the inspection survey?


Thanks in advance.



Mazi

mazibee

Might be some senior broker here on the forum with experience with Santander can help me as whats can be the next steps.


When I checked my Experian account and there is no search on it from Santander.



I am getting nervous and confused as whats going, Santander has booked the valuation for Wednesday without even doing a credit search. Is this possible?



I have got Santander mortgage refernce number starting with AA Please can someone tell me how I can check the progress on the Santander website.


Thanks

csgohan4

mazibee wrote: »

Might be some senior broker here on the forum with experience with Santander can help me as whats can be the next steps.


When I checked my Experian account and there is no search on it from Santander.



I am getting nervous and confused as whats going, Santander has booked the valuation for Wednesday without even doing a credit search. Is this possible?



I have got Santander mortgage refernce number starting with AA Please can someone tell me how I can check the progress on the Santander website.


Thanks

As post #2 says, wait, it's the weekend

mazibee

Update:


When I checked my Experian expert account today there was a hard search by the lender and my experian credit score gone done by 23 points to 948 ( Excellent to good)


Sorry for the noob questions



1) Will this experian score impact my application?



2) As valuation is booked in for today , how long it takes for the surveyor to submit the report and them how long it takes approx to hear back from the lender after the valuation?



3) Lender will reply to us directly or broker will update us?


4) Also please if some can explain what will happen if the surveyor valued the property at £340k ( £10k down the offered price)



Offered Price = £350k
Deposit = £60k
Mortgage Amount = £290k
AIP amount = £343K


Thanks in advance.

abs56d

mazibee wrote: »

I have got Santander mortgage refernce number starting with AA Please can someone tell me how I can check the progress on the Santander website.

This would actually be great to know if possible.

I'm starting to not trust my broker.

kingstreet

There is no progress tracker for applicants.

abs56d

kingstreet wrote: »

There is no progress tracker for applicants.

That's unfortunate. Just to be clear you're referring to MATS as it seems to still exist on the Santander website?

Would calling Santander directly be an option - or is that not allowed by them as I have gone through a broker?

mazibee

Please can someone help me to explain the process as getting tooo nervous / tensed.

Santander do the underwriting first, once satisfied with the our documents, credit score they instruct the valuation if all OK,

OR

They wait for the valuation report to come in and after that application passed on to underwriters

We have our valuation done yesterday and have no idea how to check the progress.

Farel01

abs56d wrote: »

That's unfortunate. Just to be clear you're referring to MATS as it seems to still exist on the Santander website?

Would calling Santander directly be an option - or is that not allowed by them as I have gone through a broker?

I've just applied for a mortgage via Santander directly and I have a progress tracker. Got an email with the link in it and one to upload any required documents. I can't give you the link because it's generated for me specifically, but perhaps ask your mortgage broker? They might have one for them they can share with you.

This is what it contains:

Key Stages
Record created
Completed: 08/04/19 18:04

Application information received
Completed: 09/04/19 12:47

Appointment booked
Completed: 10/04/19 15:15

Application pack sent
Completed: 11/04/19 16:41

Application passed to underwriting
Completed: 12/04/19 11:20

Decision
Completed: 12/04/19 11:20

Application passed to Mortgage Centre
Completed: 12/04/19 11:21

Application offered
Funds released
Application completed