Santader - The process! Approved before valuation?

shawes85

Has anyone applied through santander and had it all approved prior to a valuation?

It's been stuck in limbo for a week whilst the address verification stuff came through, they've resent it all and it arrived today, but yeah just wondering if the approval happens then valuation or what?

[Deleted User]

Usually thr valuation is instructed on day1. The case is underwritten whilst the valuation is being done.

Depending on how easy a case it is and how long it takes val to come back its possible for it to be agreed subject to val sometimes. Other times the val comes back before the underwriting is done

shawes85

Reason I ask is because exactly that's happened.

I've had no contact re a valuation, but the mortgage is all approved!?

kingstreet

Is this a remortgage or a purchase?

If it's a remortgage, presumably you would be contacted by the surveyor to do the valuation if a physical inspection is needed.

If it's a purchase, no-one will contact you about the valuation. They will contact the point of access, the EA, builder or vendor of the property.

Senplist

Hello, I am currently in the same boat. The full application went in yesterday and MA advised valuation had been booked (I'm sure they do this before approval and on day one). Hoping to hear something by next week.

shawes85

oh, it's a remortage - shared ownership purchasing the house outright and moving mortgage from leeds buildiing society

kingstreet

shawes85 wrote: »

oh, it's a remortage - shared ownership purchasing the house outright and moving mortgage from leeds buildiing society

Presumably your phone number was given for access and the surveyor will be contacting you then?

The instruction goes from Santander to L&G Surveyors (panel manager) and may then be panelled to another survey firm, depending on surveyor availability and coverage.

Donny2019

Same for us - and no checks after ad to what we did . Run a commercial bed and breakfast with our interest only mortgage thanks to Santander. I know it’s breaching our terms and conditions but who cares .