Santander FTB mortgage

Laurennic91

Hi all ,

Anyone in the process of applying with Santander ? We are FTB applying for 95% mortgage. Both have good credit and passed affordability.

We got a text on 11th August saying Santander had received our application ( via broker) , and still haven’t heard. The valuation was done last Monday (23rd) , and Santander have siNce come back with a few questions for our broker such as when will
Our childcare fees be finished and also they seen an undisclosed credit account on the credit search ( our broker forgot to disclose my husbands season ticket finance) . It seems they have been asking one question at a Time and then it’s another 48 hours to wait . We are to hear something back by COB tomorrow.

Is it normal for them to ask questions this late in the process ?!

We are supposed to be moving into our place in just over 3 weeks to starting to get a bit nervous.

What is santanders normal process ?

Thanks

[Deleted User]

If you submit an application to Santander just now then they will take about a week from them to even pick up the file. Things are going slowly at the moment. They are sually one of the fastest lenders.

You are borrowing at 95%, they are quite hot on bank statements and outgoings at this level.

Is it normal to ask questions about all this? Not if the broker supplied the information they are supposed to supply first time round. Always note details of childcare and future costs, and include all outgoings.

The timeline doesnt make sense for just these 2 questions. If thats all it was then it would have been approved within 10 days.

My guess is that the application went in and you got the text. The broker didnt upload the documents promptly creating a delay. The broker didn't provide the information that Santander would want on a normal case. Santanders service standards arent great at the moment so all this back and forth is adding time on.

Doesnt explain it taking 6-7 weeks though. Something else has been going on beyond childcare and undeclared loan

Laurennic91

Thanks for your reply.

I meant to say 11th September, not August. It’s been almost 3 weeks since we got the text saying the they had received our application.

11/09 - text from Santander saying they had received our application
18/09 valuation instructed
23/09 valuation done
25/09 came back asking questions about undisclosed credit our broker forgot to add
26/07 came back asking another 2 questions about childcare and something else

We are to expect an update by COB tomorrow

Does that seem normal? I have no idea but I get nervous when they ask questions ( I know that’s their job) .

FTB so absolutely no clue about the process and our broker although he is lovely and good at his job, he hasn’t given much away to us.

Thanks

LRmortgage

Completely normal for Santander at the moment, they have an admin team that pre screen all cases and documents before they get in the underwriters queue.

The admin team are currently working approximately a week behind and any new requests for info or documents means you go to the back of their queue for the new documents / answers to be looked at again.

Hold on tight. They’ll get there!

[Deleted User]

The valuation should be separate to the underwriting. Why no response from 11th until 25th?

Laurennic91

Thanks everyone.

I don’t know what you mean why no response? My broker has been back and forth answering questions with them since Wednesday.

It’s not the admin team that are asking questions now, it’s the underwriters xxxx

Laurennic91

Im in Scotland so I don’t know if it’s different here. Valuation was done by Santander , we have him reports here to help with that stage of things. X

[Deleted User]

Between the 11th and 25th is seems there is little activity beyond waiting for mortgage valuation to come back.

Why wasn't the undisclosed credit picked up and resolved well before then would be my query.

80% of the delay looks like it's just santander but the first 2 weeks seem like it could have dealt with a bit more. Unless there was more back and forth you just didn't type up

Either way it will be fine, just need to wait it out

ilikepancakes

I have applied with Santander lately and I find them very quick. They have processed the requested documents on the day I have sent them, they have also processed the application through thir admin team the day after I had a chat with their advisor (it is obligatory when you apply direct with Santander).

Application went to the Underwriters queue yesterday morning and hope it won't take a long too, however they haven't done any valuation yet and I don't know when they are planning to do it.



https://ibb.co/JHBpyTf

Laurennic91

We were supposed to hear by COB today, feel like I’m constantly bugging broker for updates. Haven’t heard anything yet ! When is COB?!

[Deleted User]

Laurennic91 wrote: »

We were supposed to hear by COB today, feel like I’m constantly bugging broker for updates. Haven’t heard anything yet ! When is COB?!

5pm for Santander